WARRENVILLE, Ill., Feb. 19, 2015 /PRNewswire/ — Sports Field Holdings, Inc. (OTCBB: SFHI) (the “Company”), through its wholly owned subsidiary, Sports Field Engineering, specializes in the design, engineering, and building of athletic facilities; today provides a shareholder letter from its CEO, Jeromy Olson.
It is my distinct pleasure to begin the New Year by sharing with you certain operational updates and organizational changes the Company has implemented since the latter half of 2014. I am very pleased to report that we have begun the implementation of our aggressive operating strategy for fiscal year 2015, in addition to achieving important and concrete milestones to aid in the execution of this plan. We have closed the door on a year of organizational and fundamental structuring and have now begun a new and exciting year of expected growth and profitability.
Our mission remains the same: to become known throughout the sports industry as the undisputed experts in delivering high performance synthetic turf fields, with player safety as our primary focus, while eventually becoming one of the largest turn-key athletic facilities companies in the United States.
We have recently accomplished the following important milestones that we expect to help us successfully meet our 2015 objectives:
- NAIA. We have been adding several affiliations that we believe will provide opportunities in both collegiate and professional markets. We have already begun marketing through National Association of Intercollegiate Athletics (“NAIA”), and our sponsorship with the NAIA has already led to sales in 2014 and 2015. We have solidified our relationship with each of the conference commissioners who have begun to provide full access to and priority with key personnel within their 256 colleges throughout the United States and Canada.
- Champions Network. We have recently entered into an exclusive marketing agreement with the Champions Network which is a business acceleration company with extensive relationships and contacts in both the amateur and professional sports marketplaces. This key agreement will provide SFHI with access to a larger network of key decision makers along with what we expect to be an immediate increase in market visibility and penetration.
- Tracy Burzycki. Ms. Burzycki was appointed as an independent member of our Board of Directors. She has served as North American Commercial Operations Director for Danaher Corporation and is currently Director, National Sales and Global Accounts at Beckman Coulter. She holds an MBA degree from Columbia University. Given her track record of excellence in strategic planning, experience in market evaluation and penetration as well as fiscal responsibility, she will be an excellent source of oversight, planning and creative thought for our organization.
- Commitment to Additional Qualified Independent Board Members with Medical Direction. We are in the final stages of appointing an additional independent member of our Board of Directors, who has significant credentials in the sports injury field. We are also in active discussions with other high profile industry leaders who share a commitment to our mission and a desire to lead by example. As a Company, we are committed to building the best and most capable independent Board possible to further accelerate our market position and to return shareholder value.
In addition to our improved leadership team we have built a strong foundation in operations and sales/marketing, including:
- Director of Project Management. We have hired a new Director of Project Management, who has extensive experience leading major projects that range from multi-story hotels to NFL practice facilities. This individual was hand-selected by me out of many applicants for his ability to consistently deliver complex projects on time, and on budget, while staying focused on superior quality.
- Turf Installation Manager. We have hired a new Turf Installation Manager, who will be responsible for managing all of our turf installation as well as train new staff on our process and quality standards to ensure consistent results for our clients. He possesses over 20 years of industry project management experience and is a tremendous asset to our team.
We have also implemented an aggressive Sales and Marketing plan in order to increase market visibility and increase sales. This plan includes retaining additional sales representation as well improved marketing pieces to create a consistent message to the marketplace. Recent successful efforts include:
- Launching our new corporate website, www.sportsfieldengineering.com. We are very proud of this website and encourage each of you to take some time visit it;
- Adding sales representation to multiple key regions throughout the United States;
- Creating new marketing materials and improving rebranding efforts to further educate and expand SFHI’s market visibility;
- Adding a Marketing Leader to lead the Company’s day-to-day marketing efforts, which have already dramatically increased the Company’s 2015 and 2016 project pipeline to over 400% our current revenue targets;
- Adding a National Sales Team Leader, who has historically led numerous successful national sales teams, is responsible for the creation, implementation and oversight of our new robust sales platform and strategy, as well as, overseeing our entire sales force.
The Company’s financial status has also shown several critical improvements that we expect to continue throughout 2015 and beyond, including:
- Reducing our short and long term debt to practically zero;
- Reducing our trade payables and other short term obligations to normal course nominal amounts;
- Tremendously upgrading our human capital without significant increases to our operational burn rate; and
- Increasing revenue growth for 2014 with at least five-fold growth anticipated in 2015.
In addition to all the great things we have accomplished thus far, some of our exciting 2015 initiatives include:
- Brand Ambassador Program. We are developing a program which involves engaging high profile athletes from each major sport to review and endorse our turf systems and assist in development of higher performance sport specific products that will increase player safety;
- Medical Advisory. We are working with key opinion leaders in the sports safety community to engage with SFHI and offer suggestions as well as review new product testing data that will allow us to continuously have professional oversight in the formulation of our new and innovative products and services; and
- Continued rebranding. In 2015 we anticipate to further cultivate our brand through rebranding efforts to better complement our new website and marketing and sales platform.
The coming year of 2015 is filled with tremendous promise because we have worked extremely hard to create a solid organizational and operational infrastructure which will allow the Company to achieve significant revenue growth and, more importantly, achieve positive EBITDA.
As we look ahead into the New Year, we will continue to evolve as a Company while keeping in mind our overall objective of building shareholder value and look forward to providing each of you with consistent updates throughout the upcoming year. On behalf of the management and Board of Directors, I want to thank you for your continued support.
Jeromy Olson, President and CEO of Sports Field Holdings, Inc.
About Sports Field Holdings, Inc.
Sports Field Holdings, Inc. is a product development, engineering and design-build construction company, engaged in the design, engineering, constructing, and construction management of athletic facilities, and sports complexes. It also supplies its own proprietary, technologically advanced, synthetic turf products to the industry. The Company targets private sports venue businesses, non-profit sports associations and venues and sports associations of all major sports, including; football, soccer, baseball, softball, lacrosse, field hockey, rugby, as well as track and field.
For more information, visit: http://sportsfieldengineering.com
Any statements that are not historical facts contained in this release are “forward-looking statements” as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as “expects,” “plans,” “projects,” “will,” “may,” “anticipates,” “believes,” “should,” “intends,” “estimates,” and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing or required licenses, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. The forward-looking statements contained in this press release speak only as of the date the statements were made, and the companies do not undertake any obligation to update forward-looking statements. We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA.
Sports Fields Holdings, Inc.
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SOURCE Sports Field Holdings, Inc.