0001141673
2011-01-01
2011-03-31
0001141673
2011-01-01
2011-12-31
0001141673
us-gaap:PreferredStockMember
2011-01-01
2011-12-31
0001141673
us-gaap:RetainedEarningsMember
2011-01-01
2011-12-31
0001141673
us-gaap:CommonStockMember
2011-01-01
2011-12-31
0001141673
us-gaap:AdditionalPaidInCapitalMember
2011-01-01
2011-12-31
0001141673
2011-12-31
0001141673
2012-01-01
2012-03-31
0001141673
us-gaap:PreferredStockMember
2012-01-01
2012-03-31
0001141673
us-gaap:RetainedEarningsMember
2012-01-01
2012-03-31
0001141673
us-gaap:CommonStockMember
2012-01-01
2012-03-31
0001141673
us-gaap:AdditionalPaidInCapitalMember
2012-01-01
2012-03-31
0001141673
2012-03-31
0001141673
2010-12-31
0001141673
2011-03-31
0001141673
us-gaap:PreferredStockMember
2010-12-31
0001141673
us-gaap:PreferredStockMember
2011-12-31
0001141673
us-gaap:RetainedEarningsMember
2010-12-31
0001141673
us-gaap:RetainedEarningsMember
2011-12-31
0001141673
us-gaap:CommonStockMember
2010-12-31
0001141673
us-gaap:CommonStockMember
2011-12-31
0001141673
us-gaap:AdditionalPaidInCapitalMember
2010-12-31
0001141673
us-gaap:AdditionalPaidInCapitalMember
2011-12-31
0001141673
us-gaap:PreferredStockMember
2012-03-31
0001141673
us-gaap:RetainedEarningsMember
2012-03-31
0001141673
us-gaap:CommonStockMember
2012-03-31
0001141673
us-gaap:AdditionalPaidInCapitalMember
2012-03-31
xbrli:shares
iso4217:USD
iso4217:USDxbrli:shares
FEEL GOLF CO INC
0001141673
--12-31
Smaller Reporting Company
22569452
10-Q
2012-03-31
false
2012
Q1
18991
6643
194829
68309
33043
23672
329
268705
250130
6619
2307
522187
351390
393151
370167
479391
435810
1226305
1226305
2621034
2383672
256453
153107
324071
236880
280918
311041
1874541
1890071
2155459
2201112
2479530
2437992
683
683
22570
22570
15218705
15218705
-15100454
-15296278
141504
-54320
1553488
71
683
-11725985
-15100454
1193
22570
13278209
15218705
683
-15296278
22570
15218705
2621034
2383672
0.0001
0.0001
20000000
20000000
6828200
6828200
6828200
6828200
0.001
0.001
6000000000
6000000000
3046486
22569452
3046486
22569452
235131
193596
72754
89032
162377
104564
40280
48642
180300
14595
8278
32259
50774
12773
76990
52110
407918
239142
-245541
-134578
46
155291
48154
19263
13167
-174508
-60321
-420049
-194899
925
-420049
-3374469
-3374469
-195824
-195824
-0.20
-0.01
2081795
22569452
708200
6828200
1192743
22569452
6828200
22569452
20782048
1076822
612
1076210
6120000
290000
290000
196000
12773
149261
-126518
-36
-9371
-53824
-5802
329
-4838
-6619
-34567
-87189
-3400
2307
-148671
-26879
-225000
-10534
4206
5604
130954
21134
999
290000
406214
14531
32543
-12348
18991
6643
32543
955
3668
925
534263
20782
513481
1038532
<div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">NOTE 1 - PRESENTATION</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The accompanying financial statements have been prepared by the Company without audit.  In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at March 31, 2012, and for all periods presented herein, have been made.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted.  It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company's December 31, 2011 audited financial statements.  The results of operations for the period ended March 31, 2012 is not necessarily indicative of the operating results for the full year.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: -31.5pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;">Use of Estimates</font></font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: -31.5pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;">Reclassification of Financial Statement Accounts</font></font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Certain amounts in the March 31, 2011 financial statements have been reclassified to conform to the presentation in the March 31, 2012 financial statements.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: -31.5pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;">Recent Accounting Pronouncements</font></font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Management has considered all recent accounting pronouncements issued since the last audit of our financial statements. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">NOTE 2 - GOING CONCERN</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The Company's financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern.  During the three months ended March 31, 2012 the Company realized a net loss of $195,824 and has incurred an accumulated deficit of $15,296,278.  The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations.</font></div>
<div style="text-align: left; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management's plan is to obtain such resources for the Company by obtaining capital from investors sufficient to meet its minimal operating expenses by seeking equity and/or debt financing. However management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">NOTE 3– ACQUISITION</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">On December 4, 2010 the Company entered into an asset purchase agreement with Pro Line Sports, Inc. (“Seller”) to purchase one hundred percent (100%) of the right, title and interest in the Seller’s tangible and intangible assets for $225,000 cash due immediately and $1,038,532 to be paid over four years in cash or shares of common stock at the option of the Company.  On February 11, 2011, $225,000 funding for the down payment was received and the sale was finalized.  The $1,038,532 note has been recorded as a related party note payable (see Note 4).</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The tangible assets acquired in the acquisition inventory and various fixed assets.  The Seller retained his cash balances and receivables through the date of sale.  Included in the fixed assets acquired is office and warehouse equipment.  The Company determined that the carrying value of these assets approximated their fair value on the date of acquisition and therefore recorded them at the Seller’s book value.   As a result, $37,227 of the purchase price was allocated to the fixed assets acquired.  The Company performed an inventory observation on the date of acquisition and determined that saleable inventory acquired had a fair market value of $253,686.  The remaining $1,226,305 has been allocated to goodwill.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">NOTE 4 – RELATED PARTY TRANSACTIONS</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Over the course of the Company’s history loans for operating purposes have been made to the Company by the CEO of the Company. The related party notes payable total $1,890,071at March 31, 2012 and $1,874,541 at December 31, 2011, respectively. These notes carry interest rates of 7% to 15% and have balloon payments that are due in full on December 31, 2012. One loan is considered a commercial loan under the Uniform Commercial Code and is secured by a blanket lien on the Company’s assets.  The secured loan totals approximately $640,000 as of March 31, 2012.  The other loans are unsecured.  For the three months ended March 31, 2012, the Company accrued $13,167 in interest expense on these loans.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">On February 11, 2011 the Company finalized the purchase of Pro Line Sports, Inc.   In conjunction with that purchase, the Company entered into an agreement with the former owner to pay a total of $1,038,532 over a four year period.  The amount is payable in cash or shares of common stock at the option of the Company.   As of March 31, 2012 the loan balance totals $1.048, 572.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-weight: bold;">NOTE 5 – CONVERTIBLE DEBENTURES</font></font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Beginning on March 19, 2010 through December 31, 2011 the Company has entered into multiple convertible debenture agreements with third parties.  These debentures carry interest at 8 to 15% per annum, are due in full starting on March 19, 2012, and are collateralized by 600,000 shares of the Company’s common stock held in escrow.  At the option of the holder, any outstanding principal and unpaid interest balance is convertible into shares of the Company’s common stock.  The conversion price is the higher of a) 50% of the average of the three to five lowest closing prices for the Company’s stock during the previous 10 to 15 trading days or b) $0.0001.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">In accordance with ASC 470, the Company has analyzed the beneficial nature of the conversion terms of these debentures and determined that a beneficial conversion feature (BCF) exists.  The Company calculated the value of the BCF using the intrinsic method based on the stock price on the day of commitment, the discount as agreed to in the debenture, and the number of convertible shares.  The combined value of the BCF for the debentures entered into during the three months ended December 31, 2011 is $290,000.  The BCF has been recorded as a discount to the debenture payable and to Additional Paid-in Capital. There were no convertible debentures issued during the three months ended March 31, 2012</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">During the three months ended March 31, 2012 the Company recognized $31,122 in amortization of current and precious BCF.  This amount has been recorded as interest expense in accordance with ASC 470.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">NOTE 6 - STOCKHOLDERS’ EQUITY</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;">Preferred Stock</font></font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">On March 10, 2010 the Company authorized the creation of Series A Preferred Stock.  The Company is authorized to issue 10,000,000 shares of its Series a Preferred stock at a par value of $0.0001 per share.  The Series a Preferred Stock have the following rights and provisions:</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">On September 9, 2011, the Company authorized an increase in its Series A Preferred Stock from 10,000,000 to 20,000,000 shares.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;">Voting</font>: Holders of the Series A Preferred Stock have three hundred and fifty times the number of votes on all matters submitted to the shareholders that is equal to the number of share of Common Stock into which such holder’s shared of Series A Preferred Stock are then convertible.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;">Liquidation Preference</font>:  The holders of the Series A Preferred Stock are entitled to receive five times the sum of assets or earnings available for distribution available for distribution to common stock holders.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;">Dividends</font>: None</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;">Conversion</font>:  The shares of Series A Preferred Stock are convertible into shares of the Company’s Common Stock at the rate of 500 shares of Common Stock for each share of Series A Preferred Stock.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">On February 8, 2011 the Company issued 120,000 shares of its Series A Preferred Stock to Company officers for services rendered to the Company.  The services were valued based on the value of the underlying common stock on the date of issuance multiplied by the number of convertible shares for each share of Preferred Stock.  Accordingly, the Company recognized a onetime $168,000 expense for stock compensation related to this issuance.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">On May 21, 2010 the Company issued 708,200 shares of its Series A Preferred Stock to Company officers for services rendered to the Company.  The services were valued based on the value of the underlying common stock on the date of issuance multiplied by the number of convertible shares for each share of Preferred Stock.  Accordingly, the Company recognized a onetime $3,541,000 expense for stock compensation related to this issuance.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;">Common Stock</font></font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">As of June 30, 2010, the Company’s board of directors approved an increased in the authorized shares of common stock from 100,000,000 to 2,000,000,000 shares.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">On September 9, 2011, the Company authorized an increase of its common shares from 2,000,000,000 to 6,000,000,000 shares.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline;
font-family: times new roman; font-size: 10pt;">On March 7, 2012 the Company authorized a 100:1 reverse split of its common stock. Financial numbers herein reflect this split. As a result of the reverse split a new CUSIP number 314294208 for common was issued.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">During the three months ended March 31, 2011, the Company issued 124,660 share of its common stock to consultants, employees and officers of the Company for services valued at $28,000.  The value of the stock was calculated based on the market value of the stock on the days of issuance. Expenses were recorded for legal fees, advertising, consulting services, and stock based compensation to employees and directors.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The company also issued 1,729,082 shares of its common stock for conversion of debt valued at $168,258 during the same three month period.  Principle converted totaled $163,158 and accrued interest converted totaled $6,100.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">During the year ended December 31, 2010, the Company sold 1,000 shares of its common stock to an investor for $6,000 cash. The Company also issued 1500 shares of its common stock to settle accounts payable totaling $6,000.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">During this twelve month period, the Company issued 403,232 shares of common stock to convert a total of $160,010 of outstanding principle balance of the Company’s convertible debentures.  The Company also issued 592,948 share of its common stock to consultants, employees and directors for services valued at $578,492.  The value of the stock was calculated based on the market value of the stock on the days of issuance.  Expenses were recorded for legal fees, advertising, consulting services, and stock based compensation to employees and directors.</font></div>
<div style="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt; text-align: justify;"><font style="display: inline; font-weight: bold; font-size: 10pt; font-family: times new roman;">NOTE 7 – SUBSEQUENT EVENTS</font></div>
<div style="display: block; text-indent: 0pt; text-align: justify;"> </div>
<div style="text-align: justify;">
<table style="text-align: justify; width: 100%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0">
<tr style="text-align: justify;" valign="top">
<td align="right" style="width: 72pt;">
<div><font style="display: inline; font-size: 10pt; font-family: times new roman;">A)  </font></div>
</td>
<td>
<div align="justify" style="margin-left: 0pt; text-indent: 0pt; margin-right: 0pt;"><font style="display: inline; font-size: 10pt; font-family: times new roman;">On April 25, 2012, the parties agreed through mediated settlement to rescind the acquisition. As a result, Feel Golf agreed to relinquish its rights to all trademarks and patents associated with the Pro Line brand, sell back related inventory to the Seller, vacate the premises formerly occupied by Pro Line Sports without recourse, and abandon certain tangible fixed assets in the Company’s possession associated with the Pro Line acquisition. Pro Line Sports, as consideration, agreed to cancel Feel Golf’s note payable with prejudice. The goodwill of $ 1,226,305 and certain non- essential fixed asset values associated and booked with the asset acquisition has been removed from Feel Golf’s books. As of the April 25 settlement, both parties are now separate entities<font style="display: inline; font-family: times new roman;">.</font></font></div>
</td>
</tr>
</table>
</div>
<div style="text-align: justify;">
<table style="text-align: justify; width: 100%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0">
<tr style="text-align: justify;" valign="top">
<td align="right" style="width: 72pt;">
<div><font style="display: inline; font-size: 10pt; font-family: times new roman;">B)  </font></div>
</td>
<td>
<div align="justify" style="margin-left: 0pt; text-indent: 0pt; margin-right: 0pt;"><font style="display: inline; font-size: 10pt; font-family: times new roman;">COO and Company Secretary David Otterbach resigned from both of his corporate capacities on September 21, 2012.</font></div>
</td>
</tr>
</table>
</div>
<div style="text-align: justify;">
<table style="text-align: justify; width: 100%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0">
<tr style="text-align: justify;" valign="top">
<td align="right" style="width: 72pt;">
<div><font style="display: inline; font-size: 10pt; font-family: times new roman;">C)  </font></div>
</td>
<td>
<div align="justify" style="margin-left: 0pt; text-indent: 0pt; margin-right: 0pt;"><font style="display: inline; font-size: 10pt; font-family: times new roman;">September 23, 2012, Pro Line Sports (Igotcha, LLC) filed a law suit against Feel Golf alleging patent infringement of their  shaft patent</font></div>
</td>
</tr>
</table>
</div>
<div style="text-align: justify;">
<table style="text-align: justify; width: 100%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0">
<tr style="text-align: justify;" valign="top">
<td align="right" style="width: 72pt;">
<div><font style="display: inline; font-size: 10pt; font-family: times new roman;">D)  </font></div>
</td>
<td>
<div align="justify" style="margin-left: 0pt; text-indent: 0pt; margin-right: 0pt;"><font style="display: inline; font-size: 10pt; font-family: times new roman;">Board member David Worrell resigned as of October 5, 2012</font></div>
</td>
</tr>
</table>
</div>
<div style="text-align: justify;">
<table style="text-align: justify; width: 100%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0">
<tr style="text-align: justify;" valign="top">
<td align="right" style="width: 72pt;">
<div><font style="display: inline; font-size: 10pt; font-family: times new roman;">E)  </font></div>
</td>
<td>
<div align="justify" style="margin-left: 0pt; text-indent: 0pt; margin-right: 0pt;"><font style="display: inline; font-size: 10pt; font-family: times new roman;">On October 11, 2012 Pro Line Sports (Igotcha, LLC) law suit is amended to include officers and directors as conspirators to infringe.</font></div>
</td>
</tr>
</table>
</div>
<div style="text-align: justify;">
<table style="text-align: justify; width: 100%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0">
<tr style="text-align: justify;" valign="top">
<td align="right" style="width: 72pt;">
<div><font style="display: inline; font-size: 10pt; font-family: times new roman;"><font style="display: inline; font-size: 10pt;">F)</font>  </font></div>
</td>
<td>
<div align="justify" style="margin-left: 0pt; text-indent: 0pt; margin-right: 0pt;">
<div align="left" style="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt;"><font style="display: inline; font-size: 10pt; font-family: times new roman;"><font style="display: inline; font-size: 10pt; font-family: times new roman;">Newly elected Board members are Matthew Schissler as of November 23, 2012 and David R Wells as of December 6, 2012.</font></font></div>
</div>
</td>
</tr>
</table>
</div>
<div style="text-align: justify;">
<table style="text-align: justify; width: 100%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0">
<tr style="text-align: justify;" valign="top">
<td align="right" style="width: 72pt;">
<div><font style="display: inline; font-size: 10pt; font-family: times new roman;"><font style="display: inline; font-size: 10pt;">G)</font>  </font></div>
</td>
<td>
<div align="justify" style="margin-left: 0pt; text-indent: 0pt; margin-right: 0pt;"><font style="display: inline; font-size: 10pt; font-family: times new roman;"> On November 26, 2012, the Company issued 83,333,333 shares of common stock to Red Bowl Trust for the benefit of Matthew Schissler, Trustee as consideration for his annual consulting to the Company and board of director duties.</font></div>
</td>
</tr>
</table>
</div>
<div style="text-align: justify;">
<table style="text-align: justify; width: 100%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0">
<tr style="text-align: justify;" valign="top">
<td align="right" style="width: 72pt;">
<div><font style="display: inline; font-size: 10pt; font-family: times new roman;"><font style="display:
inline; font-size: 10pt;">H)</font>  </font></div>
</td>
<td>
<div align="justify" style="margin-left: 0pt; text-indent: 0pt; margin-right: 0pt;">
<div align="left" style="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt;"><font style="display: inline; font-size: 10pt; font-family: times new roman;"><font style="display: inline; font-size: 10pt; font-family: times new roman;">On November 26, 2012 Feel Golf entered into a $25,000 convertible note with Arnold S. Goldin, Inc. (Form 8-K filed November 26,2012)</font></font></div>
</div>
</td>
</tr>
</table>
</div>
<div style="text-align: justify;">
<table style="text-align: justify; width: 100%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0">
<tr style="text-align: justify;" valign="top">
<td align="right" style="width: 72pt;">
<div><font style="display: inline; font-size: 10pt; font-family: times new roman;"><font style="display: inline; font-size: 10pt;">I)</font>  </font></div>
</td>
<td>
<div align="justify" style="margin-left: 0pt; text-indent: 0pt; margin-right: 0pt;"><font style="display: inline; font-size: 10pt; font-family: times new roman;">On December 18, 2012 Feel Golf engaged an outside web marketing firm to manage our web site.</font></div>
</td>
</tr>
</table>
</div>
<div style="text-align: justify;">
<table style="text-align: justify; width: 100%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0">
<tr style="text-align: justify;" valign="top">
<td align="right" style="width: 72pt;">
<div><font style="display: inline; font-size: 10pt; font-family: times new roman;"><font style="display: inline; font-size: 10pt;">J)</font>  </font></div>
</td>
<td>
<div align="justify" style="margin-left: 0pt; text-indent: 0pt; margin-right: 0pt;"><font style="display: inline; font-size: 10pt; font-family: times new roman;">On January16, 2013 an amendment was made to the convertible note(s) held by Long Sides Ventures and Arnold S. Goldin, Inc. This amendment changed their convertible contract conversion terms in section 2.1 to read conversion price per share shall be .0001. (Form 8-K filed January 21, 2013)</font></div>
</td>
</tr>
</table>
</div>
<div style="display: block; text-indent: 0pt; text-align: justify;"> </div>
<div style="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt; text-align: justify;"><font style="display: inline; font-size: 10pt; font-family: times new roman;">On April 25, 2012-Pro Line Sports and Feel Golf agreed to rescind the February 14, 2011 acquisition. As a result, Feel Golf agreed to relinquish its rights to all trademarks and patents associated with the Pro Line brand, and sell back certain patented inventory to the seller. Feel Golf will vacate the rented premises formerly occupied by Pro Line Sports, and abandon certain tangible fixed assets in the Company’s possession. Pro Line Sports as consideration, agreed to cancel Feel Golf’s note payable. The two Companies are now separate entities.</font></div>
<div style="display: block; text-indent: 0pt; text-align: justify;"> </div>
<div style="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt; text-align: justify;"><font style="display: inline; font-size: 10pt; font-family: times new roman;">September 23, 2012, Pro Line Sports (Igotcha LLC) files a law suit in Federal court against Feel Golf alleging patent infringement of their telescopic shaft patent. Feel Golf’s patent counsel has opined our patent pending telescoping shaft does not infringe. We believe this cause of action has no merit and we will vigorously defend our position.</font></div>
<div style="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt; text-align: justify;"> </div>
<div style="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt; text-align: justify;"><font style="display: inline; font-size: 10pt; font-family: times new roman;">On October 11, 2012 Pro Line Sports amends their law suit alleging and to include officers and directors as alleged conspirators to their infringement allegation. Settlement negotiations continue as the date of this filing.</font></div>
<div style="display: block; text-indent: 0pt; text-align: justify;"> </div>
<div style="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt; text-align: justify;"><font style="display: inline; font-size: 10pt; font-family: times new roman;">In accordance with ASC 855, Company management reviewed all material events through the date these financial statements were issued, and has determined that there are no additional material subsequent events to report.</font></div>
63494
66565
-133614
-31122
-225000
61400
595
60805
594661
169258
67618
83773
1000