Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
The disclosure set forth under the heading "Salary Reinstatement" in Item 7.01 of this Current Report on Form 8-K is incorporated by reference into this Item 5.02.
Item 7.01 Regulation FD Disclosure.
Salary Reinstatement
As noted in the Current Report on Form 8-K filed by the Company on
Market Update
Golf Datatech reported that
The information furnished in Item 7.01 of this Current Report on Form 8-K shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any registration statement or other filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
Forward-Looking Statements
Statements used in this Current Report on Form 8-K that relate to future plans, events, financial results, performance, or prospects, including statements relating to the impact of the COVID-19 pandemic on the Company's business, momentum and recovery of the Company's golf and apparel and soft goods businesses, and reinstatement of the directors' annual cash retainer fees are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon current information and expectations and speak only as of the date hereof and are not guarantees of future performance. Accurately estimating the forward-looking statements is based upon various risks and unknowns, including the uncertainty of the duration, scope and impact of COVID-19; a further spread or worsening of COVID-19; any further regulatory actions taken in response to COVID-19, including the future shutdown of or restrictions on the Company's distribution centers or manufacturing plants; the effectiveness of the Company's protective gear, social distancing guidelines, and other preventive or safety measures; any further increased costs or disruption to the Company's business as a result of COVID-19, including disruptions to business operations from travel restrictions, mandated quarantines or voluntary "social distancing" that affects employees, customers and suppliers; production delays, closures or disruptions of any of the Company's facilities, retail locations, warehouses and supply and distribution chains; staffing shortages as a result of remote working requirements or otherwise; uncertainty regarding global economic conditions, whether related to COVID-19 or otherwise, and related decreases
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in customer demand and spending; competitive pressures; future consumer
discretionary purchasing activity, which can be significantly adversely affected
by unfavorable economic or market conditions; future retailer purchasing
activity, which can be significantly negatively affected by adverse industry
conditions and overall retail inventory levels; and future demand for golf.
Actual results may differ materially from those estimated or anticipated as a
result of these risks and unknowns or other risks and uncertainties, including
the effect of terrorist activity, armed conflict, natural disasters or pandemic
diseases, including expanded outbreak of COVID-19, on the economy generally, on
the level of demand for the Company's and its subsidiaries' products or on the
Company's ability to manage its operations, supply chain and delivery logistics
in such an environment. For additional information concerning these and other
risks and uncertainties that could affect these statements, the golf and apparel
industries, and the Company's business, see the Company's Annual Report on
Form 10-K for the year ended
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