Financial Performance - The company incurred a net loss of $11,752,000 and used cash in operations of $4,929,000 for the year ended December 31, 2024[22]. - Net sales increased by $3.1 million, or 887%, to approximately $3.5 million for the year ended December 31, 2024, compared to $349,000 for the year ended December 31, 2023[209]. - The net loss for the year ended December 31, 2024, was $11.8 million, a 154% increase from a net loss of $4.6 million in 2023[208]. - Gross profit for the year ended December 31, 2024, was $2.3 million, representing a 1,764% increase from $122,000 in 2023[208]. - Total operating expenses increased by 53% to $7.3 million in 2024, up from $4.8 million in 2023[208]. - Financing costs were reported at $6.9 million in 2024, reflecting a 100% increase as compared to the previous year[208]. - Interest income increased significantly to $161,000 in 2024 from $8,000 in 2023, marking a 1,900% rise[208]. - Gross margin improved to 66% in 2024 from 35% in 2023 due to changes in product mix and inventory reserves[210]. Cash and Liquidity - The company had cash and cash equivalents of $7,650,000 as of December 31, 2024, which is expected to last for at least the next 12 months[23]. - The company has sufficient cash on hand for current operations for a minimum of 12 months, but may need to raise additional funds to execute its growth strategy[141]. Market and Competition - The golf equipment market size is estimated at USD 13.32 billion in 2023 and is expected to reach USD 17.64 billion by 2028, growing at a CAGR of 5.78%[24]. - The company faces competition from established brands like TaylorMade, Ping, and Acushnet, which have been in the market longer and possess greater resources[64]. - The company faces intense competition in the golf market, with four major competitors holding the majority of U.S. market share[78]. Product Development and Innovation - The company expanded its shaft offerings into fairway wood/hybrid replacement shafts in 2024[30]. - The company has developed patented Ultra-Low Balance Point technologies to enhance putting performance[37]. - The company introduced the "Newton" division, marking its first entry into golf club shafts, with the Newton Motion driver shaft designed to enhance performance by promoting straighter and longer shots[43]. - The Newton Motion shaft features a unique DOT system for flex categorization, ranging from one to six dots, optimizing performance based on individual golfer abilities[44]. - The proprietary Kinetic Storage Construction of the Newton Motion shaft allows for improved club speed and exit velocity, addressing inconsistencies in flex and spin rates[47]. - The company plans to launch multiple new or enhanced putter designs in 2025, leveraging advanced metals to potentially outperform existing market models[42]. - The company intends to expand its product line to include high-quality soft goods such as golf apparel and accessories, with plans to begin manufacturing in 2025[49]. Operational Challenges - The company has experienced recurring operating losses and negative operating cash flows since inception, raising substantial doubt about its ability to continue as a going concern[101]. - The company is dependent on a limited number of suppliers for key components, and the loss of any of these suppliers could significantly disrupt operations[118]. - The company faces significant price fluctuations and shortages in raw materials such as aluminum, magnesium, and carbon fiber, which could adversely affect its financial condition and results of operations[122]. - Transportation costs are volatile due to shortages in shipping capacity and fuel price fluctuations, potentially impacting the company's ability to pass on costs to customers[123]. - The company must manage the introduction of new products effectively to meet changing consumer preferences and avoid significant adverse impacts on financial performance[84]. Regulatory and Compliance - The company is subject to various environmental laws and regulations, ensuring compliance in its manufacturing processes[50]. - The company has implemented procedures to maintain the confidentiality of proprietary information, crucial for its competitive advantage[57]. - Compliance with evolving data privacy laws, such as the GDPR, poses challenges and could result in increased costs and operational restrictions[137]. Shareholder and Market Issues - The company's common stock is traded on the Nasdaq Capital Market under the symbol "NWTG"[159]. - The company received a notice from Nasdaq for not complying with the minimum bid price requirement, as its stock did not maintain a closing bid price of at least $1.00 for 30 consecutive business days[160]. - The company was not eligible for a compliance period due to a reverse split within the prior year, but has requested a hearing for an extension[161]. - Any capital raised through equity sales will dilute the percentage ownership of existing shareholders, while debt financing may impose restrictive covenants[142]. - Increases in interest rates could raise the cost of servicing debt, adversely affecting profitability and cash flows[143]. - The company does not anticipate paying cash dividends in the foreseeable future, limiting returns to shareholders to potential increases in share price[152]. Strategic Growth Initiatives - The company plans to grow distribution centers in or near Tokyo, Japan, Seoul, South Korea, and Mexico City based on market needs[30]. - The company plans to expand its international business into Asia, Latin America, and Europe, which requires significant investment and poses risks if not managed effectively[117]. - The company has invested significantly in upgrading manufacturing facilities, including a new golf shaft manufacturing facility in St. Joseph, MO, to remain competitive[80]. Risks and Uncertainties - Economic downturns could adversely affect wholesale customers' financial conditions, impacting their ability to pay trade obligations[77]. - Changes in U.S. trade policies, including increased tariffs, could adversely affect the company's ability to obtain components and impact sales[99]. - Adverse publicity or legal actions could damage the company's brand image and consumer confidence, negatively impacting sales[89]. - The company relies on endorsements from professional athletes, and any loss of these endorsements could materially affect sales[97]. - Fluctuations in foreign currency exchange rates could significantly impact the company's financial results, as transactions are conducted in various currencies[109]. - The company may face significant costs or damages from intellectual property claims or lawsuits, which could affect its ability to sell products[103]. - Integration of newly acquired businesses or partnerships could strain resources and disrupt ongoing operations, potentially harming financial performance[113]. - Information systems are critical for operations, and any failure or cyber security breach could disrupt business and adversely affect financial performance[128].

Company Overview - Newton Golf Company has changed its corporate name from Sacks Parente Golf, Inc. to better reflect its commitment to innovation in golf equipment [1][4] - The company will begin trading under the new ticker symbol "NWTG" on Nasdaq starting March 17, 2025 [1][2] Reverse Stock Split - The Board of Directors has approved a 1-for-30 reverse stock split, effective at the opening of trading on March 17, 2025 [2][6] - Every 30 shares of common stock will convert into one share, with no fractional shares issued; any fractions will be rounded up to the nearest whole share [8] Financial Position - In December 2024, the company raised approximately $8.4 million through an underwritten public offering, enhancing its ability to advance strategic initiatives and product development [4] - The reverse stock split is intended to attract institutional investors and strengthen the company's position in public markets [6] Product Innovation - Newton Golf aims to revolutionize golf performance technology by leveraging advanced physics and precision engineering [3][4] - The company focuses on high-performance products, including innovative golf shafts, putters, and grips designed for golfers of all skill levels [9]

Core Points - NEWTON GOLF Company has approved a share repurchase authorization of up to $1 million of its common stock, effective from January 31, 2025, to January 31, 2026, with repurchases subject to market conditions and other factors [1] - The Executive Chairman of NEWTON GOLF expressed confidence in the company's business and growth outlook, attributing the ability to repurchase shares to the growing adoption of their Newton Motion replacement shafts [2] - NEWTON GOLF is a technology-forward golf company with a portfolio that includes putters, golf shafts, grips, and accessories, known for innovations like the First Vernier Acuity putter and patented Ultra-Low Balance Point technology [3] Company Developments - The company expanded its manufacturing capabilities in April 2022 by opening a new shaft manufacturing facility in St. Joseph, MO, aiming to produce most products in the United States and expand into golf apparel [4] - Future growth may involve mergers, acquisitions, or internal development of complementary product lines, with current sales channels including resellers, the company's websites, and retail stores in the U.S., Japan, and South Korea [5]

Core Insights - NEWTON GOLF Company reports preliminary financial results for Q4 2024 and full year 2024, indicating significant growth in sales and gross margins [1][4][6] Financial Highlights - Q4 2024 revenue is expected to be between $1.1 million and $1.3 million, marking an increase of 882% from $117,000 in Q4 2023 [6] - Gross margin for Q4 2024 is projected to rise from 36% in Q4 2023 to 72-74% due to increased sales and manufacturing efficiencies [6] - Full year 2024 revenue is anticipated to grow from $349,000 in fiscal 2023 to between $3.4 million and $3.6 million, representing nearly 10-fold growth [6] - Full year 2024 gross margin is expected to increase from 35% in fiscal 2023 to 65-67% driven by higher manufacturing volume [6] Corporate Highlights - The company has undergone a complete rebranding to NEWTON GOLF Company [6] - Launched the Newton Fairway Motion shafts and the new Newton Gravity premium putter line with five new models [6] - Expanded global presence by launching Newton Motion shafts in 50 major golf retail locations in Japan [6] - Increased the number of golf professionals using Newton Motion Shafts on the PGA TOUR Champions from less than five to 34 during 2024 [6] - Successfully executed digital campaigns that contributed to revenue growth [6] - Closed $9.1 million in financing to support strategic growth initiatives [6] - Introduced new advanced performance shafts for higher swing speeds in January 2025 [6]

Core Viewpoint - NEWTON GOLF Company is actively engaging with investors through its participation in the DealFlow Events MicroCap Conference, highlighting its innovative golf products and growth strategies [1][2]. Company Overview - NEWTON GOLF is a technology-forward golf company with a diverse portfolio that includes putters, golf shafts, grips, and accessories [3]. - The company has developed notable technologies such as the First Vernier Acuity putter and patented Ultra-Low Balance Point (ULBP) putter technology [3]. Growth Strategies - In April 2022, the company expanded its manufacturing capabilities by opening a new facility in St. Joseph, MO, aimed at producing premium golf shafts [4]. - The company intends to manufacture most products in the United States and is looking to expand into golf apparel and other related product lines [4]. - Future growth may involve mergers, acquisitions, or internal development of complementary product lines [5]. Sales Channels - NEWTON GOLF products are sold through various channels, including resellers, the company's websites, Club Champion retail stores, and distributors in the United States, Japan, and South Korea [5].

Core Insights - NEWTON GOLF Company is participating in the 2025 PGA Show from January 21-24 in Orlando, Florida, showcasing its latest innovations in golf products [1][5] - The company will highlight two new shafts: the Newton Fast Motion Shafts designed for enhanced swing speed and control, and the Newton Motion LD Shafts which combine flexibility and stability for maximizing distance [2] - The full Newton Gravity putter line will also be on display, featuring patented Ultra Low Balance Point (ULBP) and Center of Gravity (CG) technology [3] Product Innovations - The Newton Fast Motion Shafts are constructed with advanced high-modulus Toray carbon fibers, reducing shaft weight by approximately 10 grams compared to the Motion series, allowing for faster swing speeds while maintaining stability [2] - The Newton Motion LD Shafts blend high flexibility and stability, developed in response to trends on the World Long Drive Tour, providing a unique solution for players seeking speed and control [2] - The current full Newton Gravity putter line includes models such as Classic, DEUCE, DUKE, DRAC, and PRISM, all featuring the company's signature technologies [3] Event Participation - Attendees can experience the performance of new products firsthand at the PGA Show's Demo Day on January 21 at the Orange County National Golf Center [3] - From January 22 to 24, the company will showcase its products at Booth 1405 in the Orange County Convention Center, with representatives available for discussions [4] Company Background - NEWTON GOLF is a technology-forward golf company with a growing portfolio of products, including putters, shafts, grips, and accessories, known for innovations like the First Vernier Acuity putter and ultra-light carbon fiber putter shafts [6] - The company expanded its manufacturing capabilities in April 2022 by opening a new shaft manufacturing facility in St. Joseph, MO, aiming to produce most products in the United States [7][8] - Future expansions may include mergers, acquisitions, or internal developments to enhance its premium brand offerings [9]

Core Insights - NEWTON GOLF Company has appointed Ryan Stearns as Chief Financial Officer, bringing over two decades of financial expertise to the role [1][2] - Stearns will focus on the company's financial strategy, operational reporting, and technology integration to support growth and global expansion [2][4] - His previous experience includes securing $130 million in financing and scaling a life science company from a $12 million startup to a $500 million valuation [3] Company Overview - NEWTON GOLF is a technology-forward golf company with a portfolio that includes putters, golf shafts, grips, and accessories [1][5] - The company has innovative products such as the First Vernier Acuity putter and patented Ultra-Low Balance Point (ULBP) technology [5] - NEWTON GOLF expanded its manufacturing capabilities in April 2022 to develop premium golf shafts, aiming to manufacture most products in the United States [6] Future Growth Strategy - The company plans to broaden its offerings through mergers, acquisitions, or internal product development that complements its premium brand [7] - Products are sold through various channels, including resellers, the company's website, and retail stores in the United States, Japan, and South Korea [7]

Core Viewpoint - Sacks Parente Golf, Inc. successfully closed a public offering, raising approximately $8.4 million before expenses, to support its growth in the golf product market [1]. Group 1: Offering Details - The offering included 7,000,000 Common Units priced at $1.20 each, consisting of one share of Common Stock and two types of warrants (Series A and Series B) [2]. - Each Series A Common Warrant has an initial exercise price of $2.40 per share and is exercisable after stockholder approval for 60 months [2]. - Each Series B Common Warrant also has an initial exercise price of $2.40 per share and is exercisable after stockholder approval for 30 months [2]. Group 2: Underwriting and Legal Counsel - Aegis Capital Corp. served as the sole book-running manager for the offering, while TroyGould and Kaufman & Canoles, P.C. acted as legal counsel for the Company and Aegis, respectively [4]. Group 3: Registration and Prospectus - A registration statement on Form S-1 was declared effective by the SEC on December 11, 2024, and the offering was made only by means of a prospectus [5]. Group 4: Company Overview - Sacks Parente Golf, Inc. is a technology-driven golf company with a portfolio that includes innovative products such as the First Vernier Acuity putter and ultralight carbon fiber putter shafts [7].

Core Viewpoint - Sacks Parente Golf, Inc. has announced a public offering expected to generate approximately $8.4 million in gross proceeds, aimed at supporting its growth in the golf product market [1][4]. Group 1: Offering Details - The offering includes 7,000,000 Common Units, each comprising one share of Common Stock or one Pre-Funded Warrant, along with Series A and Series B Common Warrants [2]. - The public offering price is set at $1.20 per Common Unit, with Pre-Funded Units priced at $1.199, reflecting a minimal exercise price for the Pre-Funded Warrants [2]. - The Series A and Series B Common Warrants have an initial exercise price of $2.40 per share and are subject to stockholder approval, with expiration periods of 60 months and 30 months, respectively [2]. Group 2: Underwriting and Closing - Aegis Capital Corp. is the sole book-running manager for the offering, and the transaction is expected to close around December 13, 2024, pending customary closing conditions [3][5][4]. - Aegis has been granted a 45-day option to purchase additional shares to cover over-allotments, up to 15% of the shares sold in the offering [3]. Group 3: Use of Proceeds - The net proceeds from the offering, combined with existing cash, will be utilized for general corporate purposes and working capital [4]. Group 4: Company Overview - Sacks Parente Golf, Inc. is a technology-driven golf company with a diverse portfolio of products, including putters, shafts, grips, and accessories, known for innovations like the First Vernier Acuity putter and patented Ultra-Low Balance Point technology [8].

Financial Performance - Net sales increased by $1,116,000, or 1,175%, to $1,211,000 for the three months ended September 30, 2024, compared to $95,000 for the same period in 2023[93]. - Gross profit rose to $805,000 for the three months ended September 30, 2024, representing a 1,964% increase from $39,000 in the same period of 2023[92]. - Cost of goods sold increased to $406,000, up 625% from $56,000 for the three months ended September 30, 2023, resulting in a gross margin of 66%[94]. - Net sales increased by $2.1 million, or 923%, to approximately $2.4 million for the nine months ended September 30, 2024, compared to $232,000 for the same period in 2023[102]. - Gross profit rose to $1.5 million for the nine months ended September 30, 2024, reflecting a 1,431% increase from $98,000 in 2023, with a gross margin of 63%[103]. Expenses - Research and development expenses surged to $201,000, a 1,240% increase from $15,000 in the same period of 2023, due to costs associated with the Newton Motion fairway wood shaft[97]. - Selling, general and administrative expenses increased by approximately $499,000 to $1.7 million for the three months ended September 30, 2024, compared to $1.2 million in the same period of 2023[96]. - Operating expenses totaled $5.0 million, a 79% increase from $2.8 million in 2023, driven by a 931% increase in research and development costs to $598,000[104][106]. Losses - Loss from operations decreased to $1,090,000 for the three months ended September 30, 2024, compared to $1,171,000 for the same period in 2023, reflecting improved net sales and gross profit[98]. - Loss from operations increased to $3.5 million for the nine months ended September 30, 2024, compared to $2.7 million in 2023, marking a 31% rise[107]. - Net loss decreased to $1,060,000 for the three months ended September 30, 2024, down from $1,197,000 in the same period of 2023[100]. - Net loss for the nine months ended September 30, 2024, was $3.4 million, a 22% increase from $2.8 million in 2023[109]. Cash Flow and Liquidity - Cash used in operating activities was $3.4 million for the nine months ended September 30, 2024, a decrease from $3.8 million in 2023[112]. - Cash and cash equivalents on hand as of September 30, 2024, amounted to $1.3 million, expected to last for at least the next 3 months[118]. - The company raised $11.6 million from its initial public offering in August 2023, which has contributed to its liquidity position[116]. - The company incurred net cash used in investing activities of $463,000 for the nine months ended September 30, 2024, compared to $101,000 in 2023[113]. - Interest income was $139,000 for the nine months ended September 30, 2024, compared to interest expense of $68,000 in 2023, reflecting a significant improvement[108]. Stock and Compliance - The company completed a secondary public offering on October 10, 2024, raising approximately $536,000 in net proceeds[81]. - The company received a deficiency letter from NASDAQ regarding the minimum bid price requirement, but successfully regained compliance by August 13, 2024, after a reverse stock split[84][86]. - The Company has never paid cash dividends and does not expect to do so in the foreseeable future, resulting in an expected dividend yield of zero[132]. - The Company is classified as a smaller reporting company and is not required to provide certain disclosures under the Securities Exchange Act[139]. Internal Controls and Reporting - As of September 30, 2024, the Company's disclosure controls and procedures were deemed effective, providing reasonable assurance for timely reporting as per SEC rules[135]. - There were no changes in the Company's internal control over financial reporting during the quarter ended September 30, 2024, that materially affected its effectiveness[136]. - Management acknowledges inherent limitations in the effectiveness of controls, which may not prevent all errors or fraud[137]. Stock Options - The Company estimated the fair value of stock options using the Black-Scholes model, with expected stock volatility based on peer companies in the consumer products industry[132]. - The expected term of stock options granted to nonemployees is equal to the contractual term of the option award[132]. - The risk-free interest rate for stock options is based on the U.S. Treasury yield curve at the time of the award grant[132]. - The fair value of common stock was estimated using various methodologies, reflecting external market conditions and the likelihood of achieving a liquidity event[133]. Legal Matters - The Company has no pending legal proceedings that could materially affect its business or financial condition[139].