Exhibit 99.1

Sacks Parente Golf, Inc. Reports Financial Results for First Half 2023 and Provides Corporate Update

Camarillo, CA., September 18, 2023 – Sacks Parente Golf, Inc. (NASDAQ:SPGC), (the “Company” or “Sacks Parente”), a technology-forward golf company with a growing portfolio of golf products, including putting instruments, golf shafts, golf grips, and other golf-related accessories, reports its financial results for the quarter ended June 30, 2023, and provides a business update.

Recent Corporate Highlights

● Closed Initial Public Offering (IPO) transaction in mid-August that raised $11.6 million in proceeds, net of underwriting fees

● Introduced the Innovative Series 91 “The Duke” putter inspired by PGA TOUR Champions player Ken Duke

● Ken Duke won his first PGA TOUR Champions title at the Shaw Charity Classic using a Sacks Parente Series 66 Anser-style putter

Timothy Triplett, Sacks Parente Golf’s Chief Executive Officer, commented, “Our recent IPO represents a new beginning for Sacks Parente, as the capital raised will help us to expand our product offerings beyond cutting-edge putters and into cutting-edge shafts, and further penetrate the rapidly growing Asian golf markets. The IPO proceeds also allowed us to repay nearly $1 million in debt to become a debt-free company.

“The revenue generated in the first half of 2023 was before our recent IPO. We continue to develop as a company as we carefully hone what we believe to be a superior line of golf technology for professional and weekend golfers alike. We look forward to communicating with our stockholders and future customers about our entire line of products and to demonstrating significant shareholder value.”

About Sacks Parente Golf

Sacks Parente Golf, Inc. is a technology-forward golf company, with a growing portfolio of golf products, including putting instruments, golf shafts, golf grips, and other golf-related products. The Company’s innovative accomplishments include: the First Vernier Acuity putter, patented Ultra-Low Balance Point (ULBP) putter technology, weight-forward Center-of-Gravity (CG) design while pioneering ultra-light carbon fiber putter shafts. In consideration of its growth opportunities in shaft technologies, in April of 2022 the Company expanded its manufacturing business to include advanced premium golf shafts by opening a new shaft manufacturing facility in St. Joseph, MO. It is the Company’s intent to manufacture and assemble substantially all products in the United States. The Company anticipates expansion into golf apparel and other golf-related product lines to enhance its growth. The Company’s future expansions may include broadening its offerings through mergers, acquisitions or internal developments of product lines that are complementary to its premium brand. The Company currently sells its products through resellers, the Company’s websites, and distributors in the United States, Japan, and South Korea.

Forward Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the SEC. Copies of these documents are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contacts:

Company:

Steve Handy, CFO

Sacks Parente Golf, Inc.

Email: investors@sacksparente.com

www.sacksparente.com

Investor Relations:

CORE IR

Email: investors@sacksparente.com

Phone: (516)222-2560

www.coreir.com

SACKS PARENTE GOLF, INC.

CONDENSED BALANCE SHEETS

(Unaudited - Amounts rounded to nearest thousands, except share amounts)

	June 30, 2023			December 31, 2022
	(Unaudited)
ASSETS
Current Assets:
Cash	$	9,000		$	147,000
Restricted cash		-			24,000
Accounts receivable		8,000			2,000
Inventory, net of reserve for obsolescence of $98,000 and $73,000, respectively		95,000			142,000
Prepaid expenses and other current assets		3,000			16,000
Total Current Assets		115,000			331,000
Property and equipment, net		115,000			122,000
Right-of-use asset, net		50,000			22,000
Deferred offering costs		418,000			230,000
Deposits		5,000			5,000
Total Assets	$	703,000		$	710,000
LIABILITIES AND STOCKHOLDERS’ DEFICIENCY
Current Liabilities:
Accounts payable and accrued expenses	$	341,000		$	97,000
Accrued payroll to executives		1,748,000			1,095,000
Lease liability, current		32,000			17,000
Equipment purchase obligation		-			15,000
Loans payable – related parties ($244,000 is past due)		559,000			537,000
Notes payable (past due)		404,000			384,000
Customer deposits		21,000			21,000
Total Current Liabilities		3,105,000			2,166,000
Lease liability, net of current		17,000			6,000
Total Liabilities		3,122,000			2,172,000
Common stock subject to possible redemption (561,375 shares at redemption price of $1.07)		600,000			420,000
Commitments and Contingencies
Stockholders’ Deficiency:
Preferred stock $.01 par value, 5,000,000 shares authorized, no shares issued and outstanding		-			-
Common stock, $.01 par value, 45,000,000 shares authorized, 10,834,495 and 10,784,495, shares issued and outstanding, respectively, excluding 561,375 shares subject to possible redemption at June 30, 2023 and December 31, 2022		108,000			108,000
Additional paid-in-capital		4,154,000			3,702,000
Accumulated deficit		(7,281,000	)		(5,692,000	)
Total Stockholders’ Deficiency		(3,019,000	)		(1,882,000	)
Total Liabilities and Stockholders’ Deficiency	$	703,000		$	710,000

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SACKS PARENTE GOLF, INC.

CONDENSED STATEMENTS OF OPERATIONS

For the Three and Six Months Ended June 30, 2023 and 2022

(Unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
	2023			2022			2023			2022
Net Sales	$	47,000		$	44,000		$	137,000		$	109,000
Cost of goods sold		32,000			23,000			78,000			43,000
Gross profit		15,000			21,000			59,000			66,000
Operating expenses
Selling, general and administrative expenses		647,000			1,724,000			1,563,000			1,909,000
Research and development		18,000			8,000			43,000			10,000
Total operating expenses		665,000			1,732,000			1,606,000			1,919,000
Loss from operations		(650,000	)		(1,711,000	)		(1,547,000	)		(1,853,000	)
Other expenses
Interest		(22,000	)		(5,000	)		(42,000	)		(7,000	)
Loss on extinguishment of debt		-			(574,000	)		-			(574,000	)
Total other expenses		(22,000	)		(579,000	)		(42,000	)		(581,000	)
Net loss	$	(672,000	)	$	(2,290,000	)	$	(1,589,000	)	$	(2,434,000	)
Net loss per share – basic and diluted	$	(0.06	)	$	(0.21	)	$	(0.15	)	$	(0.24	)
Weighted average common shares outstanding – basic and diluted		10,834,495			10,757,104			10,816,539			10,104,649

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SACKS PARENTE GOLF, INC.

CONDENSED STATEMENTS OF CASH FLOWS

For the Six Months Ended June 30, 2023 and 2022

(Unaudited)

(Amounts rounded to nearest thousands)

	Six Months Ended June 30,
	2023			2022
Cash Flows from Operating Activities
Net Loss	$	(1,589,000	)	$	(2,434,000	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation		10,000			3,000
Change in reserve for inventory obsolescence		25,000			(18,000	)
Vesting of options		227,000			1,300,000
Vesting of restricted stock		-			25,000
Modification of equity awards		-			28,000
Loss on extinguishment of debt		-			574,000
Shares issued for services		225,000			-
Changes in ROU asset		15,000			4,000
Accrued interest		42,000			6,000
Changes in operating assets and liabilities
Accounts receivable		(6,000	)		-
Inventory		22,000			(8,000	)
Prepaids and other current assets		13,000			(25,000	)
Deposits		-			(1,000	)
Accounts payable and accrued expenses		67,000			57,000
Accrued payroll to officers		653,000			213,000
Lease liability		(17,000	)		(4,000	)
Deferred revenue		-			7,000
License obligation		-			(2,000	)
Net cash used in operating activities		(313,000	)		(275,000	)
Cash Flows from Investing Activities
Purchase of property and equipment		(3,000	)		(35,000	)
Net cash used in investing activities		(3,000	)		(35,000	)
Cash Flows from Financing Activities
Changes in loans from related parties		-			200,000
Payment of equipment purchase obligation		(15,000	)		(14,000	)
Deferred offering costs		(11,000	)		(230,000	)
Proceeds from private sale of common stock subject to possible redemption		180,000			-
Proceeds from sale of commons stock		-			420,000
Proceeds from convertible debt obligations		-			150,000
Net cash provided by financing activities		154,000			526,000
Net increase (decrease) in cash		(162,000	)		216,000
Cash and restricted cash beginning of period		171,000			184,000
Cash and restricted cash end of period	$	9,000		$	400,000
Supplemental disclosures of cash flow information:
Cash paid for interest	$	-		$	-
Cash paid for income taxes	$	-		$	-
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Common shares issued on conversion of convertible debt obligations	$	-		$	1,050,000
Accrued deferred offering costs	$	177,000		$	-
New right of use asset and lease liability	$	43,000		$	34,000
Property and equipment purchased with debt	$	-		$	58,000

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