CA-based Lynx Golf has "obtained a $3.55 million bridge
loan" from Union Planters Bank of St. Louis, according to
the SAN DIEGO UNION-TRIBUNE. The loan was "secured" by the
company's assets and is due to be repaid by August 15. Lynx
President & CEO David Schaefer said that the financing will
allow the company to "carry out its strategic plan and
implement operational changes" (UNION- TRIBUNE, 2/25).
VISUALIZE IT: Visual Edge Systems, (VES), producers of
the "One-on-One With Greg Norman" video golf lessons, has
reached agreement in principle with its lenders and
preferred stock holders, who have agreed not to convert
their preferred stock or notes until December 31, 1998.
VES's lenders and stock holders have also agreed to provide
the company with an additional $5M equity line of credit for
working capital. In other news, VES announced that it will
team with the American Cancer Society (ACS) to help raise
funds for cancer research. VES will set up temporary
production facilities in the lobbies of office buildings in
cities such as New York, Boston and San Francisco, among
others, and will offer its Norman golf lessons at $50 per
tape, with a portion of the proceeds going to ACS (VES).
