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(March 2007)
During 2006 it became clear that Golfmax Inc. required external financing, particularly in relation to
the implementation Golfmax Rewards program. .
The services of Link Resource Partners were engaged. www.linkrp.com
LRP found a source for a business loan agreement through
Gould Leasing, a Toronto
based leasing and financing company.
The agreement with Gould allows for a draw down of up to $500,000 in the form of a business loan. Each draw
down must be fully paid in monthly installments over a two year period. The loan has an effective interest
rate of 20%. The loan has been personally and jointly secured by Richard Watson and Dennis Conly.
As part of the agreement with Link Resources, they will be engaged during the early period of the loan
to provide consulting services oriented to the further development of business plans, the pursuit of
business partners, and the development of future financing strategies.
In the early part of fy 2007/08 Golfmax will be drawing down approximately $200,000 from the loan
agreement. These funds will be used for the following:
» Program Contract with Ernex $7,500
» Loyalty and Gift Card Purchase $12,500
» New Server from Sun $15,0000
» SAS software upgrade and renewal $20,000 (est)
» Link Resources Consulting $30,0000
» Contracted Technical Support $15000
» Marketing and Operational Expenses $100,000
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