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Thistle & Co.

Sept. 18th, 2007 : Paul Wold & Rob Stein, Founders

Thistle & Co. is a development stage company competing in the golf apparel and men's sportswear industry. The founders, Paul Wold and Rob Stein have many years experience and close working relationships with many of the top golf shops and club professionals in America.

The founders have uncovered a niche for classically styled sportswear using technical yarns. Technical yarns are a recent phenomenon to the golf industry and the main providers have been Nike and Adidas. Their distribution policies are in direct conflict with the independent golf shops' best interests. Furthermore, their styling preferences are often not appropriate for country club dress codes.

The founders have extensive brand building experience from previous endeavors including Bobby Jones, Hugo Boss, Pringle of Scotland, and Jack Nicklaus. In addition to Paul and Rob the company has verbal commitments from two highly experienced sales executives both of whom worked for the Founders in previous endeavors. One of the two executives will also be an investor in the company.

Based on their experience and relationships, the founders project a limited distribution to 10% of the pro shop market or 1,600 on-course golf shops. Additionally, they will market to select men's specialty stores and corporate sales channels. The business plan conservatively projects 6th year sales of $10 million dollars. The market for men's golf sportswear is estimated by the National Golf Foundation at $2-2.5 billion dollars. The game of golf is extremely stable, growing 2-3% annually.

The company is offering $1.4 - $1.8 million of Series A Preferred Stock. Additionally, the founders are committing $175,000 of their personal money to common shares. The funds will be used to finance the start up costs of the business and to finance the first year's product purchases and trade receivables.


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