UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8 - K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report May 21, 1999
COMMISSION FILE NO. 0-24812
DIVOT GOLF CORPORATION F/K/A BRASSIE GOLF CORPORATION
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(Exact name of registrant as specified in its charter)
DELAWARE 56-1781650
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(State or other jurisdiction (I.R.S. Employer Identification No.)
incorporation or organization)
P.O. BOX 1677, SEFFNER, FL. 33583
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(Address of principal executive offices)
(813) 963-7760
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(Registrant's telephone number, including area code)
Check whether the registrant: (1) has filed all reports required to be filed by
Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding
12 months (or for such shorter period that the registrant was required to file
such reports), and (2) has been subject to such filing requirements for the past
90 days. Yes |_| No |X|
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DIVOT GOLF CORPORATION
FORM 8 - K
TABLE OF CONTENTS
Item 1. Changes in Control of Registrant - None
Item 2. Acquisition or Disposition of Assets - None
Item 3. Bankruptcy or Receivership - None
Item 4. Changes in Registrant's Certifying Accountant - None
Item 5. Other Events - None
Item 6. Resignations of Registrant's Directors...........................Page 3
Item 7. Financial Statements and Exhibits - None
Signatures................................................................Page 3
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ITEM 6. Resignation of Registrant's Directors
On April 28, 1999, Jeremiah M. Daly resigned as President, Chief Executive
Officer, and Director of the Company, citing personal reasons for the
resignation. Mr. Daly will remain as President of the Company's wholly owned
subsidiary, Miller Golf, Inc. The Company appointed Mr. Kenneth W. Craig to
replace Mr. Daly as President and Chief Executive Officer and on May 6, 1999
appointed Mr. Craig as Chairman of the Board of Directors. The remaining
Directors on the Board include Clifford F. Bagnall and Gordon Ewart.
Mr. Craig was introduced to the Golf Business in the 70's as a club pro at the
University of Mississippi Golf Course. He was member of the PGA, Gulf States
Section and coached the Golf Team while attending Graduate and Law School. After
completing Law School he went to Texas to practice Law always remembering the
early lessons of personal communications, discipline and organizational skills
learned.
Mr. Craig started his own firm in 1981 and it continued to grow as Craig,
Sandifer and Associates, P.A. meeting both the legal and accounting needs of
it's clients. During the 80's Mr. Craig became involved in several business
ventures and opted to leave the firm in 1989, as he became heavily involved in
the outside ventures.
First he and a partner founded Tie National Rental and Leasing Company, Inc.
which was sold to Tie Communications after two years. Then he worked on the
acquisition team for the purchase of Centel Communications by Williams Oil &
Gas. Upon completion of the acquisition Mr. Craig was appointed President of the
Finance and Marketing Divisions and asked to develop the outsourcing business of
Wiltel with a plan of $5,000,000 in first year sales. With the selection of a
good team, an well-organized plan of attack and the luck afforded to those who
work diligently with focus, his division did $60,000,000 in contracts in the
first year.
Having achieved success in both his legal and business careers Mr. Craig
returned to his passion in 1996 as President and later CEO of Renaissance Golf
Products, Inc. He took on the challenge of resurrecting the FILA line of golf
equipment. During his tenure the Company solidified relations with FILA,
increased sales by $4,500,000 in 1997 and most importantly increased shareholder
value by eight times before leaving the Company in May of 1998.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned herein duly authorized.
DIVOT GOLF CORPORATION
By: /s/ Clifford F. Bagnall
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Clifford F. Bagnall
Chief Financial Officer
Date: May 21, 1999
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