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4CADY.pngIf we are to paraphrase a famous character in a blockbuster Hollywood movie, “one does not simply feel indifferent about golf”. If you think about it, it’s absolutely true. You either hate it with every fiber of your being, or you are ready to defend it to the very end. Personally, we think that it’s about as interesting as watching paint dry, but there are hundreds of thousands of people who are willing to spend money on clubs, tailored trousers, shoes with spikes on them, brims, gloves and other equipment absolutely crucial to the activity of hitting a small ball with a piece of metal. DIGITAL CADDIES INC (PINK:CADY) know that.

They are taking on a more hi-tech approach. That being said, we’re not sure exactly what they’re doing. Why? Well, for one, the company descriptions available on the Internet make about as much sense to us as a book titled “The Rules of Golf”, but, more importantly, CADY‘s website refused to load when we tried to see what’s what. We do know, however, that they are devising something to do with GPS and golf.

After a fair bit of time spent on all sorts of websites, we did manage to find that they have developed a mobile app called Golflogix, that is supposed to help you immensely with what they call “course management”. Then again, there are literally thousands of apps that will help you and your GPS-enabled smartphone or tablet “manage the course” with the crucial difference that most of them are quite a bit cheaper, and a lot of them are free.

Still, CADY do have a product so, naturally enough, we decided to check if they have registered any revenue from the pricey application. It would seem that they have. The problem is that they don’t take it as a priority to publish financial information very often. The last statement that we were able to find is for the quarter ending in July 31, 2012. Since we have nothing more recent to work with, we’ll simply summarize the financials:

  • cash: $17 thousand
  • current assets: $133 thousand
  • current liabilities: $842 thousand
  • net loss for the nine months ended in July 2012: 142 thousand

On the bright side, Q2 of 2012 was the first quarter that ended with a net income, be it only $9 thousand. However, since we have nothing more up-to-date to talk about, we can’t be sure whether this trend has continued over the past 6 months.

CADY_logo.jpg“There is a good reason for the late filing”, we thought, “They have been preparing for the PGA Merchandise Exhibition that they are taking part in at the moment”. We decided to check on them, to see if they have reserved a booth that will give them enough exposure. After a lot of searching on PGA’s website we were unable to find them in the exhibitors section. As we mentioned, CADY‘s website was down, so after some head-scratching, we decided to check if they have a Facebook page. They do, it has a total of 11 likes, and there we learn that they are not quite actually part of the exhibition. Instead, they are staying at a hotel nearby and they have invited everyone who is interested to go and speak with them. With that in mind, all the talk about launching their new product (no mention of what it actually is) on the famous exhibition, seems rather pointless.

1PGSY.pngThis isn’t the first time that Today’s Pick is (TPI) have promoted CADY. The previous one was back in December, and it didn’t score big time as is evident from the chart. Speaking of TPI, they have uploaded a sort of “hall of fame” section on their website, where they talk about alerts that they have sent out, and companies that surged as a result. They are intentionally keeping quiet about what happened after the hype was over. If you take a look at what happened to Portlogic Systems Inc. (PINK:PGSY) after TPI’s pump in July, you will see what we mean.

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