Yes! Golf Proprietary Technology And Assets To Be Auctioned On January 18

By January 4, 2011Press Releases

Patented C-Groove Golf Putter is Popular Internationally and with Professional Touring Pros

SAN DIEGO, Jan 05, 2011 (BUSINESS WIRE) — Heritage Global Partners has been selected by the Chapter 7 Trustee to conduct a live auction of assets of ProGear Holdings Inc., owner of the Yes! Golf brand. The approval of Trustee’s Motion to engage Heritage Global Partners is currently pending in the United States Bankruptcy Court for the District of Colorado. Following approval, the auction will be staged via live webcast and on location on Tuesday, January 18 at 1 p.m.

MST, at the Yes! Golf headquarters in Denver, Colorado.

“The Yes! Golf auction provides an extraordinary opportunity for numerous types of buyers — from the existing sporting goods company, which may want to integrate the Yes! Golf brand and technology into its product mix — to perhaps an entrepreneur who wants to take the business to the next level,” said Brandon Smith, vice president of Heritage Global Partners.

The Yes! Golf brand assets consists of intellectual property and trademarks including its patented “C-Groove” technology, all capital assets including thousands of dollars of inventory in the U.S., its warehouse, shop, office equipment and furniture. Company assets also include marketing vehicles such as the company website and URL, customer mailing lists as well as established Yes! Golf brand values.

Francis Ricci, CEO of Yes! Golf since 1998, said that “upon filing for bankruptcy on November 18th, several interested parties from the U.S. and overseas have expressed interest in acquiring the rights to the Yes! Brand and its proprietary technology.” Yes! Golf has been an emerging leader in the field of advanced putter design and related technology. Well established in consumer markets throughout the world, the Yes! Golf brand includes impressive usage records by many of the world’s best professional and amateur golfers. Yes! Golf putters have been consistently rated by several golf publications for high performance and value.

Led by auction industry pioneers Ross and Kirk Dove, Heritage Global Partners is an asset advisory and auction services firm, which assists large and small companies with buying and selling of assets. Heritage Global Partners offers asset brokerage, asset inspection, asset valuations, industrial equipment auctions, and real estate auctions among other services.

Parties interested in participating in the Yes! Golf auction must sign a non-disclosure agreement to gain access to Company documents available for review. The agreement, together with contact information and a general description of the assets can be found on the Heritage Global Partners website at www.hgpauction.com.

Source: http://classic.cnbc.com/id/40925355