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ProLink Maintains All Required License Agreements...

 
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RobBrady
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Joined: Jul 21, 2004
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Location: Chelmsford, UK

PostPosted: Fri Mar 13, 2009 8:20 pm    Post subject: ProLink Maintains All Required License Agreements... Reply with quote

ProLink Maintains All Required License Agreements Including Optimal '093

CHANDLER, Ariz., March 13 /PRNewswire-FirstCall/ -- ProLink Holdings Corp. (OTC:PLKH) (BULLETIN BOARD: PLKH) announced today that it maintains all licenses, including the Optimal '093 license, necessary to provide ProLink's industry-leading GPS golf course management systems.

As previously stated in ProLink's 8-K filed on February 13, 2009, ProLink believes it is not in default on any of its license agreements. On February 10, 2009, ProLink received a written notice from GPS Industries, Inc. (GPSI) and its wholly-owned subsidiary, Optimal Golf Solutions, Inc. (Optimal) purporting to terminate the '093 license agreement by and between ProLink and Optimal, claiming that ProLink failed to make certain payments under the agreement. However, as indicated in ProLink's 8-K, ProLink had paid all fees owed to Optimal under the agreement as of that date. In fact, since ProLink's January 2004 licensing of the patent, ProLink has paid over $1.5 million owed to Optimal under the agreement.

As further indicated in ProLink's 8-K, on February 12, 2009, ProLink forwarded a communication to Optimal and GPSI indicating ProLink's good faith belief that the Agreement had not been effectively terminated in accordance with the terms and conditions of the agreement, that ProLink intended to continue to comply with the terms of the agreement, and that, notwithstanding GPSI's written notice, in the event either party to the agreement brings a claim for termination under the agreement, the agreement requires compliance with explicit dispute resolution procedures including good faith negotiations, mediation, and if then still unresolved, binding arbitration. Based on the above and ProLink's continued payment of the '093 licensing fees, ProLink believes the agreement has not been terminated and that there is no legal basis for termination of the agreement at this time.

ProLink views GPSI's press release yesterday as merely the publication of the contents of GPSI's earlier February 10, 2009, 8-K. In addition, the U.S. Patent Office is currently reviewing the validity of the '093 Patent and the license remains valid and in force pending this review. ProLink further views GPSI's unwarranted press release yesterday as an unsuccessful attempt to disrupt ProLink's business and marketing activities and to confuse the investing public.

About ProLink

ProLink Solutions is the world's leading provider of GPS golf course management systems and revenue-generating on-course advertising. ProLink Solutions' core philosophy is to be a "Trusted Partner" to its golf-course customers. From enhancing golfers' overall experience and improving pace-of-play, to increasing current revenue streams and creating new profit centers for golf courses, ProLink Solutions' products and services have captured markets both nationally and globally. For more information about ProLink, visit http://www.goprolink.com/
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