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
DevOps theory promotes a culture of continuous improvement built on collaboration, empowerment, systems thinking, and feedback loops. But how do you collaborate effectively across the traditional silos? How can you make decisions without system-wide visibility? How can you see the whole system when it is spread across teams and locations? How do you close feedback loops across teams and activities delivering complex multi-tier, cloud, container, serverless, and/or API-based services?
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
One of biggest questions about Big Data is “How do we harness all that information for business use quickly and effectively?” Geographic Information Systems (GIS) or spatial technology is about more than making maps, but adding critical context and meaning to data of all types, coming from all different channels – even sensors. In his session at @ThingsExpo, William (Bill) Meehan, director of utility solutions for Esri, will take a closer look at the current state of spatial technology and ar...
SYS-CON Events announced today that Streamlyzer will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Streamlyzer is a powerful analytics for video streaming service that enables video streaming providers to monitor and analyze QoE (Quality-of-Experience) from end-user devices in real time.
SYS-CON Events announced today that SoftNet Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. SoftNet Solutions specializes in Enterprise Solutions for Hadoop and Big Data. It offers customers the most open, robust, and value-conscious portfolio of solutions, services, and tools for the shortest route to success with Big Data. The unique differentiator is the ability to architect and ...
The IoT industry is now at a crossroads, between the fast-paced innovation of technologies and the pending mass adoption by global enterprises. The complexity of combining rapidly evolving technologies and the need to establish practices for market acceleration pose a strong challenge to global enterprises as well as IoT vendors. In his session at @ThingsExpo, Clark Smith, senior product manager for Numerex, will discuss how Numerex, as an experienced, established IoT provider, has embraced a ...
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his session at @DevOpsSummit 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will show how customers are able to achieve a level of transparency that enables everyon...
Today every business relies on software to drive the innovation necessary for a competitive edge in the Application Economy. This is why collaboration between development and operations, or DevOps, has become IT’s number one priority. Whether you are in Dev or Ops, understanding how to implement a DevOps strategy can deliver faster development cycles, improved software quality, reduced deployment times and overall better experiences for your customers.
Cloud based infrastructure deployment is becoming more and more appealing to customers, from Fortune 500 companies to SMEs due to its pay-as-you-go model. Enterprise storage vendors are able to reach out to these customers by integrating in cloud based deployments; this needs adaptability and interoperability of the products confirming to cloud standards such as OpenStack, CloudStack, or Azure. As compared to off the shelf commodity storage, enterprise storages by its reliability, high-availabil...
Donna Yasay, President of HomeGrid Forum, today discussed with a panel of technology peers how certification programs are at the forefront of interoperability, and the answer for vendors looking to keep up with today's growing industry for smart home innovation. "To ensure multi-vendor interoperability, accredited industry certification programs should be used for every product to provide credibility and quality assurance for retail and carrier based customers looking to add ever increasing num...
“Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. CloudBerry Backup is a leading cross-platform cloud backup and disaster recovery solution integrated with major public cloud services, such as Amazon Web Services, Microsoft Azure and Google Cloud Platform.
In the next forty months – just over three years – businesses will undergo extraordinary changes. The exponential growth of digitization and machine learning will see a step function change in how businesses create value, satisfy customers, and outperform their competition. In the next forty months companies will take the actions that will see them get to the next level of the game called Capitalism. Or they won’t – game over. The winners of today and tomorrow think differently, follow different...
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 7-9, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and ...