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1. What makes GolfSuites different from its competition?
GolfSuites intends to bring together the best in golf entertainment, play, and game improvement, offering a compelling golf experience for both the novice and experienced golfers. GolfSuites aims to create facilities that are inclusive and welcoming, aiming to provide guests with the most realistic golf experience. GolfSuites will feature farm-to-table, chef-inspired menus and family-friendly fare along with signature beverages to round out the experience.
GolfSuites is serious about golf. Each facility will include a 275-300+ yard range with tracking for every shot and swing within 3-4 inches. We will also provide professional-level game improvement, coaching, training, and competition led by PGA Professional and NBC Golf Academy Lead Coach, GolfSuites’ Co-Founder, Kyle Morris.
2. Why is Doppler based-radar ball and club tracking more effective than using RFID technology?
Doppler based-radar technology offers a superior and more sensitive level of ball and club swing tracking, measuring accuracy to 3-4 inches, rather than to the yard.
3. Why are your balls better than RFID-chipped balls like at competitors’ facilities?
Our golf balls will fly truer because they do not have a chip in the middle of the ball that affects true balance. They are superior in construction, durability and efficacy and fly farther than RFID-chipped tracking golf balls. Our premium golf balls will feel and perform like PGA Tour quality balls.
4. Do you have any team members with a long track record in the golfing industry?
Yes, GolfSuites leadership team has a long history both playing and working in the golf industry. Kyle Morris, GolfSuites’ Co-Founder, is an NBC Golf Channel Academy Lead Coach. He has a long history as a college player and then recorded several PGA tour wins. Kyle was recognized as one of the Top Young Teachers in the country by Golf Digest Magazine.
John Galvin has been working in and around the golf industry since 1980. In 1988, he started the country's first organized corporate amateur team tour, The Corporate Links Tour. John is also an avid player and a Class A caddy.
5. Are there any partners that you can announce?
GolfSuites is currently negotiating partnerships with brands, manufacturers, and technology providers. Stay tuned and revisit our video blog.
6. When do you plan on breaking ground on your first facility?
Our current timeline includes our intent to break ground on our first facility, in the Midwest region, in late 2019.
7. How many golf facilities do you believe can succeed in a metro area?
Our analysis of the industry has yielded an estimate that a metro area can support one facility per every 350-500 thousand people.
8. Why Regulation A+ (Reg A+) and not VC or other types of venture funding?
Regulation A+ allows anyone who wants to invest regardless of their level of wealth or income. We want to open this opportunity to everyone interested in investing in GolfSuites and becoming a part of this exciting project. GolfSuites is particularly well-suited for Reg A+ because of the welcoming atmosphere we provide to golfers of all levels and our entertainment impact.
9. Why do you feel that you’ll be successful?
GolfSuites has established a strong leadership and advisory team with a passion for golf, food and entertainment. The team also has a track record in building and growing strong brands.
10. What is your business plan?
Our parent company’s goal is to establish a nationwide chain of 100+ facilities in the U.S. We will choose the best available locations and select our team members with the utmost care. Our enhanced and superior facilities and amenities will encourage people to frequently visit GolfSuites, rather than visit the facilities of our competitors.
11. What exactly is this investment opportunity?
We are offering preferred shares in GolfSuites 1, which is the first of six planned phases of development for GolfSuites facilities in the U.S. GolfSuites 1, represents the Midwest region.
Our parent company (which is primarily owned by our management team and original seed investors) own common shares that generally have less economic rights than the rights that investors in this Reg A+ offering receive. Investors in our Reg A+ offering are buying preferred shares. The difference? The founders’ common shares do not get paid the 8% dividends, which the investors’ Preferred Shares do, plus investors have liquidation preferences and anti-dilution protection (see the Offering Circular for details). If the company makes discretionary special dividend payments over and above the 8% investor dividend, this special dividend will be paid to both the investors preferred shares and the founder’s shares.
12. What do I do now that I’ve made an investment?
We will be communicating regularly. Our first messages will be about processing your investment payment and issuing your shares. We will notify you about dividend payments, acquiring locations, breaking ground and opening facilities over time, among many other company milestones. In addition, as a Regulation A company, we will be required to make annual and semi-annual filings with the SEC. We will make annual filings on Form 1-K, which will be due by the end of April each year and will include audited financial statements for the previous fiscal year. We will make semi-annual filings on Form 1-SA, which will be due by September 28 each year, which will include unaudited financial statements for the six months to June 30. We will also file a Form 1-U to announce important events such as the loss of a senior officer, a change in auditors or certain types of capital-raising. All these filings will be available on the SEC’s EDGAR filing system.
13. Can I invest if I am outside of the United States?
Yes, investors from around the world are welcome to invest. However, certain local country restrictions may apply. You should consult with your own legal advisers whether you are able to invest. Investors in Canada are prevented from investing in Regulation A+ by Canadian securities regulations.
14. How can I sell my shares?
Your shares of GolfSuites 1 are not intended to list on a major exchange after the Reg A+ offering, as we are choosing to remain a private company. Since the shares are currently not listed for trade on a stock exchange, there will be no active market. However, these securities will not be restricted and may be freely traded to the extent any market develops for them from the date that the investor receives their shares. This is an advantage of Regulation A+ compared to other public offerings of private companies, because the Federal securities regulations allow investors to sell their shares immediately.
The company does not currently have any plans to seek listing or quotation of the securities on any organized trading market. At some point in the future, the company's parent company, KGEM Inc., may choose to list the company on a public stock exchange to bring liquidity to the shares. Additionally, the firm may increase its dividend payments or sell parts or all of the company to provide liquidity. There are no plans to do so now.
There are some aftermarket services that are currently in various stages of development that enable owners of Reg A+ shares to sell their shares to interested buyers. We will update our investors as these markets develop.
15. Can I still invest if I am not an accredited investor?
Yes, investors of any wealth level over 18 years of age may participate in the Regulation A+ offering.
16. How and when will I begin to receive my 8% monthly dividend distribution?
To the extent there are legally available funds, dividends will be paid monthly from the date that you complete the investment process and the company has accepted your investment. In most cases this will likely result in a 45-day delay before the first dividend payment is made.
17. Do my shares have voting rights?
Yes, one vote per share. The founder’s common shares have five votes per share.
18. Are there management fees that get charged on my investment?
The parent company of GolfSuites 1, KGEM Inc., charges at cost for services that it provides to GolfSuites 1. For instance, when the parent company negotiates a central marketing partnership with golf equipment manufacturer or arranges an endorsement partnership with a golf influencer, the costs for these services will be charged at cost to GolfSuites 1, and future regional subsidiaries, without markup.
AN OFFERING STATEMENT REGARDING THIS OFFERING HAS BEEN FILED WITH THE SEC. THE SEC HAS QUALIFIED THAT OFFERING STATEMENT, WHICH ONLY MEANS THAT THE COMPANY MAY MAKE SALES OF THE SECURITIES DESCRIBED BY THE OFFERING STATEMENT. IT DOES NOT MEAN THAT THE SEC HAS APPROVED, PASSED UPON THE MERITS OR PASSED UPON THE ACCURACY OR COMPLETENESS OF THE INFORMATION IN THE OFFERING STATEMENT. YOU MAY OBTAIN A COPY OF THE OFFERING CIRCULAR THAT IS PART OF THAT OFFERING STATEMENT FROM:
https://www.manhattanstreetcapital.com/sites/default/files/GS1 offering circular and Supplement.pdf
YOU SHOULD READ THE OFFERING CIRCULAR BEFORE MAKING ANY INVESTMENT.
THE OFFERING MATERIALS MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.
IMAGES CONTAINED IN THIS OFFERING CIRCULAR ARE ARTIST’S IMPRESSIONS AND THE ACTUAL FACILITIES MAY VARY.