Welcome!

News Feed Item

Digital Caddies, Inc. Receives Funding of $2.7M

Investment to Be Used to Fund Growth and Development of the Players Network

SCOTTSDALE, AZ -- (Marketwired) -- 04/02/14 -- Digital Caddies Inc. (OTC Pink: CADY) (PINKSHEETS: CADY) is pleased to announce that it has received a total of $2.7M of funding on the previously announced equity capital raise being completed by Paulson Investments -- a boutique investment bank specializing in the small and mid-cap markets.

The offering was priced at $.80 per Unit and consists of (i) 4 common shares of stock; and (ii) 2 common stock purchase warrants. Each warrant is exercisable for one common share at $0.40 per share with a 5 year term. Funds raised are being used to continue the growth and development of The Players Network and other general working capital.

Digital Caddies launched The Player's Network in late 2013 -- a tablet based course navigation and content platform installed on golf carts. To date the system has been installed on approximately 5000 golf carts on over 60 golf courses across the country. On March 4th, 2014 the company announced that the network was generating advertising impression inventory at a run rate of over 100 million per month which far exceeds management's initial expectations. This better than expected performance, immediately resulted in the announcements of agreements with many premium 3rd party advertising networks who are working with Digital Caddies to fill the ad space with premium ad units and drive meaningful revenue through The Players Network.

By installing multi-functional, Internet-connected, high-resolution tablets in golf carts on golf courses across North America, Digital Caddies is building a proprietary, nationwide, interactive network -- The Player's Network. The network most notably offers national and local advertisers the ability to not only reach, but also to intimately engage with one of the most attractive and sought after demographic segments -- the golfer.

Once a golf course is equipped with The Player's Network, golfers are treated to a host of useful and engaging applications and services including GPS-based course navigation, touch screen interaction and on-course messaging. The platform can also provide the ability for golfers to notify the beverage cart of their location to receive more prompt service, keep score, set up real-time leader boards, access news, weather, sports, and other online content.

The Player's Network tablets easily install on golf carts and wirelessly connect to the Web through Sprint's nationwide 3G network, providing the golf course a broad portfolio of real-time course management tools via GPS-based cart tracking and communications. These tools enable course operators to improve the golfers' experience and manage pace of play, increase merchandise and concession sales via real-time on-tablet promotions, and access additional revenue streams.

About Digital Caddies

Digital Caddies was founded in 2003 and established a solid reputation and customer base using a low-cost, easy-to-use and-implement GPS service for golf courses. The company has transitioned to a new business model by providing golf courses with a tablet-based navigation and content platform that is wirelessly connected to the Internet and installed on golf carts. With the Digital Caddies platform, The Players Network, course operators have the opportunity to increase revenue by promoting merchandise, food and beverage specials, or whatever they'd like through the system. Digital Caddies also can help golf course operators lower operating costs by helping them track golf cart inventory, manage driver behavior, and assist in forecasting agronomy issues.

For more information about Digital Caddies please visit: www.digitalcaddies.net.

About Paulson Capital Corp.

With offices in New York, San Francisco and Portland, Paulson Investment Company is a leading national boutique investment bank focused on the small to mid-cap markets focusing on emerging growth companies with capital needs of $5 million to $45 million. Founded by Chester "Chet" Paulson in 1970 it has managed or underwritten 170 securities offerings and has generated more than $1.2 billion for client companies.

Forward-Looking Statements

This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Digital Caddies, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Digital Caddies, Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Digital Caddies, Inc.'s filings with the Securities and Exchange Commission.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"We are an all-flash array storage provider but our focus has been on VM-aware storage specifically for virtualized applications," stated Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
It's easy to assume that your app will run on a fast and reliable network. The reality for your app's users, though, is often a slow, unreliable network with spotty coverage. What happens when the network doesn't work, or when the device is in airplane mode? You get unhappy, frustrated users. An offline-first app is an app that works, without error, when there is no network connection. In his session at 18th Cloud Expo, Bradley Holt, a Developer Advocate with IBM Cloud Data Services, discussed...
Between 2005 and 2020, data volumes will grow by a factor of 300 – enough data to stack CDs from the earth to the moon 162 times. This has come to be known as the ‘big data’ phenomenon. Unfortunately, traditional approaches to handling, storing and analyzing data aren’t adequate at this scale: they’re too costly, slow and physically cumbersome to keep up. Fortunately, in response a new breed of technology has emerged that is cheaper, faster and more scalable. Yet, in meeting these new needs they...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at 20th Cloud Expo, Ed Featherston, director/senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busin...
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
"We are the public cloud providers. We are currently providing 50% of the resources they need for doing e-commerce business in China and we are hosting about 60% of mobile gaming in China," explained Yi Zheng, CPO and VP of Engineering at CDS Global Cloud, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
"Once customers get a year into their IoT deployments, they start to realize that they may have been shortsighted in the ways they built out their deployment and the key thing I see a lot of people looking at is - how can I take equipment data, pull it back in an IoT solution and show it in a dashboard," stated Dave McCarthy, Director of Products at Bsquare Corporation, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
Predictive analytics tools monitor, report, and troubleshoot in order to make proactive decisions about the health, performance, and utilization of storage. Most enterprises combine cloud and on-premise storage, resulting in blended environments of physical, virtual, cloud, and other platforms, which justifies more sophisticated storage analytics. In his session at 18th Cloud Expo, Peter McCallum, Vice President of Datacenter Solutions at FalconStor, discussed using predictive analytics to mon...
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...