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ProLink Holdings Corp. Announces Financial Results for Full-Year 2005

21 April 2006

ProLink Holdings Corp., (OTC Bulletin Board: PLKH) the world's largest provider of Global Positioning System golf course management systems, today announced financial results for the fourth quarter and full-year period ended December 31, 2005. Due to the Company recently becoming a publicly traded entity, the Company's independent auditors completed an audit for both the 2005 and 2004 calendar years but did not complete a specific audit for the fourth quarter of 2004. As such, results for the fourth quarter 2005 will not be compared to the fourth quarter 2004.

2005 Operating and Financial Highlights:

* On December 23, 2005, Amalgamated Technologies, Inc. acquired

substantially all of the membership interests in ProLink Solutions,

LLC. In connection with the transaction, the members of ProLink

exchanged their membership interests in ProLink for capital stock of

Amalgamated Technologies. As a result, ProLink became a subsidiary of

Amalgamated Technologies that subsequently changed its name to ProLink

Holdings Corp. and its ticker symbol to PLKH.

* Year-end cash, investments and common stock subscriptions receivable

was $5.83 million.

* The Company completed a private placement on December 30, 2005 with

accredited institutional investors, raising net proceeds of

$3.26 million, which the Company is using to expand operations and for

working capital purposes.

* During 2005, the Company had approximately $16.2 million in total

revenue consisting of golf course sales of our GPS systems, service and

support income and other income. Revenues increased 50.8 percent from

$10.7 million in total revenue realized during 2004. As of

December 31, 2005, the Company has installed systems on more than

700 golf courses worldwide consisting of over 50,000 units, which

management believes represents more than twice the market share of all

the Company's competitors combined.

* Excluding one time non-recurring expenses, which in aggregate totaled

$1.4 million, EBITDA would have been $(586,418). This number represents

a significant turnaround in operating performance as compared to 2004

and is primarily the result of improvements in system sales, both

internationally and domestically, sales of refurbished equipment,

continued emphasis on reducing product costs and improving installation

efficiencies. Management expects continued improvement in these areas

in 2006 and incremental revenue from ProLink Capital and from

advertising initiatives. Reconciliation of this adjusted EBITDA number

to the closest available GAAP measure, net income, is set forth below.

* The Company completed a transaction with E-Z-Go whereby it acquired,

subject to the agreement, substantially all of E-Z-Go's lease residual

interests and inventory that it had outstanding with the Company's

customers and any going forward interest E-Z-GO might have held.

Subsequent to this purchase, the Company acquired substantially all the

residual interests owned by ParView and ProLink on all outstanding

leases.

* The Company established its new ProLink Capital initiative with Danny

Lam as President. Mr. Lam's experience in the equipment financing

arena is extensive having served as president of American Express

Business Finance group and Bell Atlantic Capital Corp. ProLink

Capital's mandate is to expand the financing sources available to the

Company's customers and to facilitate and accelerate the sales cycle.

ProLink Capital is also financing other capital equipment needs of its

golf course customers.

* The Company completed a beta test of its advertising platform with

Cadillac which successfully demonstrated that consumers/players showed

a high retention rate related to advertisements placed on the Company's

screens during play. The Company's system reaches a highly desirable

demographic, typically including well-educated consumers with more than

$80,000 in annual income. The Company recorded advertising revenue of

$315,000 during 2005. Management is committed to a major 2006

initiative to grow local and national advertising as a source of

revenue for both the Company as well as its golf course partners.

* In 2005, the Company directed significant attention and resources to

developing its worldwide markets in conjunction with its international

distributors. As a result of this effort international revenue

increased to $4.1 million representing over a 600 percent increase from

2004. The Company owned distribution in Japan generated 40 percent of

the international revenue. ProLink's international distributors and

customers have embraced the advertising model and have had success

selling advertisements, further validating the media model.

"In 2005 we completed our integration of ProLink and ParView with dramatic improvements in financial performance demonstrated by the improvement in operational performance from 2004 as measured by our adjusted EBITDA," commented Lawrence Bain, President and CEO of the Company. "Since our inception in 2004 we have invested heavily in the foundation required to build a world class company. We have reached several milestones, having further solidified our competitive advantage and reinforced our position as the dominant player in the world marketplace. We have and will continue to expand and invest in our research and development, manufacturing and services platform, significantly enhanced and strengthened our management team while transitioning to a publicly traded Company. We believe that as we enter 2006, we are well positioned to profitably execute on our growth initiatives with the expansion of ProLink Capital and the widespread rollout of our Patented 'Pay-for-Play' revenue sharing concept. Additionally, we continue to make meaningful progress in the development of the ProLink system as an ideal platform for both national and regional advertisers. A major initiative of the Company in 2006 is to invest in the future by leveraging our installed and imbedded base of screens worldwide for our expanded advertising initiative. Our successful beta test with Cadillac is a validation of our platform and we look to partner with additional advertisers, both local and national, to significantly increase our revenues and margins during 2006."

2006

* In the first quarter of 2006, the Company acquired the remaining assets

of ParView, Inc. from its bankruptcy estate. These assets include the

ownership of all intellectual property and the remaining residuals that

ParView owned. This gave the Company all of the right, title and

interest held by ParView in the residuals on leases that remained in

effect with more than 100 golf courses.

* The Company continued to expand its funding capacity by executing an

agreement with a private debt financing group to provide lease

financing to the Company's golf course partners totaling up to

$10 million over the next 12 months. This commitment to fund leases of

the Company's systems is expected to accelerate the rollout of the

Company's patented revenue sharing Pay-for-Play Partners program.

* The Company significantly broadened its management team, adding John

Godshall, as Chief Technology Officer, Steven N. Tanis as the Company's

Vice President of Engineering and Joanie Hollabaugh as Vice President

of Marketing. Mr. Godshall is a proven expert in GPS technology who

previously worked as President and Chief Engineer of The Development

Works, Inc., the recognized development house in the golf GPS field.

Mr. Tanis was Mr. Godshall's colleague at The Development Works and was

previously with PinMark, an early pioneer in golf-related GPS

technology. Ms. Hollabaugh was previously marketing director for Labor

Systems, Inc.

* The Company received notice of the award of a patent on its

Pay-for-Play revenue sharing model. This provides the Company with

patent protection on this revolutionary method in which the golf

courses can own and operate our GPS Systems.

"The Company has completed its first quarter of 2006 and has enjoyed record revenues during that period," Mr. Bain continued. "We expect continued growth during comparable periods throughout 2006. Our current outstanding orders are at the highest levels in the Company's history on both a domestic and international basis. We expect this trend to continue into the second quarter, which is seasonally our strongest quarter. Our European distributor Elumina Iberica, S.A. also enjoyed a record quarter and expects continued strong demand during 2006. Our proprietary return on investment model designed for our golf course partners has expanded the acceptance of our ProStar and GameStar GPS management systems. Furthermore, our commitment to the local and national advertising program expands with the recent launch of our ProLink Advertising Financial Incentive Target Program (PRO-FIT). We expect to generate immediate income to our golf course partners, which we believe will alter the dynamics of how the systems are purchased and accelerate the investment decision of our course customers. The Company has continued to execute on its recurring revenue model through the expansion of the Company's service and support revenue as well as the sales acceleration of Company-owned residual equipment."

Financial Results

For 2005, the Company reported revenue of $16.2 million, which represented a 50.8 percent increase from the $10.7 million reported for the fiscal year ended January 1, 2005. The increase in revenue was primarily a result of a 49.1 percent increase in system sales driven by growth in both domestic and international sales. Total revenue derived from sales to international customers in 2005 was $4.1 million compared to $555,000 for 2004, and benefited from the Company's sales to Elumina Iberica, the distribution partner for Europe and the Middle East, and sales to South Africa and Japan.

Cost of goods sold for 2005 was $9.4 million, resulting in gross profit margin for the year of 41.6 percent compared to $7.4 million or 30.7 percent for the previous fiscal year ended January 1, 2005. Gross margins improved in 2005 due to improved margins on GPS system sales, continued emphasis on reducing product costs and improving installation efficiencies. A number of system sales in the fourth quarter included the cost of repurchasing leased equipment totaling approximately $856,000 reducing annual gross margin by approximately 5.2 percent. Gross margin in 2004 was negatively impacted by physical inventory adjustments and reserves for inventory obsolescence totaling $1.1 million or 10.3 percent of 2004 revenues.

For the year ended December 31, 2005, expenses were $10.2 million, a decrease of $1.1 million or 9.6 percent from the fiscal year ended January 1, 2005. Significant reductions in expense on a year over year basis were achieved through decreases in facility costs, bad debt expenses, contract labor, and corporate legal fees.

The net loss for the period ended December 31, 2005 was $3.4 million, or $0.16 per fully diluted share (based on 20.6 million weighted average shares outstanding) compared to $8.7 million, or $0.45 per fully diluted share (based on 19.2 million weighted average shares outstanding) for the same period last year.

Balance Sheet

As of December 31, 2005, the Company had approximately $5.8 million in cash, investments and common stock subscription receivables, compared to $7,500 as of January 1, 2005. The Company completed the year with working capital of $2.3 million. Shareholder's equity was approximately $2 million as of December 31, 2005.

Summary Financial Data

As of

December 31, 2005

$000's

Cash and investments $2,570

Subscriptions receivable, common stock 3,260

Other current assets 2,012

Total current assets 7,842

Other assets 3,915

Total Assets $11,757

Current liabilities $ 5,550

Long term debt 4,176

Stockholders' equity 2,031

Total Liabilities and Stockholders'Equity $11,757

For the Period

For the January 22, 2004

Year Ended (Inception) through $ percent

December 31, 2005 January 1, 2005 Change Change

$000's $000's $000's %

Net revenues $14,129 $9,117

Service revenue 2,050 1,611

Total revenue 16,179 10,728 5,451 50.8%

Cost of revenue 9,450 7,432 2,018 27.2%

Total gross margin 6,729 3,296 3,433 104.2%

Gross margin percentage 41.6% 30.7%

Operating expenses 10,235 11,319 (1,084) -9.6%

Loss from operations (3,506) (8,023) 4,517 -56.3%

Other income (expense) 135 (699) 834 -119.3%

Net Loss $(3,371) $(8,722) 5,351 -61.4%

Net Loss per share (0.16) (0.45) 0.29 -64.4%

The Company has presented a number that represents its EBITDA eliminating all one-time non-recurring expenses. Because of the Company's recent transaction with ProLink Solutions, a number of one-time items were recorded in the fourth quarter. The Company is utilizing this adjusted EBITDA calculation to allow investors to better assess its operating performance. Reconciliation of adjusted EBTIDA as presented to the closest available GAAP measure, net income is contained in the following table:

For the

Year Ended

December 31, 2005

Net income, as reported $(3,371,005)

Interest, taxes, depreciation and amortization 1,404,443

EBITDA (1,966,562)

Non-recurring items

Merger and operating expenses 1,438,603

Gain on extinguishment, net (892,459)

Normalized interest expense 650,000

Warrant expense 184,000

Pro forma EBITDA, as adjusted $(586,418)

Teleconference

Management will conduct a conference call to discuss these results at 4:30 p.m. ET on Tuesday, April 18, 2006. To participate in the conference call, please dial 1-888-802-2275 five to ten minutes prior to the scheduled conference call time. International callers should dial 1-913-312-1267. There is no pass code required for this call. If you are unable to listen to the live teleconference at its scheduled time, there will be a replay available through April 25, 2006, and can be accessed by dialing 1-888-203-1112 (U.S.), 1-719-457-0820 (Int'l), passcode 1192428. This call is being webcast by ViaVid Broadcasting and can be accessed at ProLink's website at http://www.goprolink.com. The webcast may also be accessed at ViaVid's website at http://www.viavid.net. The webcast can be accessed through May 18, 2006 on either site. To access the webcast, you will need to have the Windows Media Player on your desktop. For the free download of the Media Player please visit: http://www.microsoft.com/windows/windowsmedia/en/download/default.asp.

About ProLink Holding Corp.

Based in Chandler, Arizona, ProLink Holding Corp.'s industry-leading technology and marketing richness has been installed on more 700 resort, private and public courses worldwide -- more than triple the installations of all its competitors combined. World-famous course partners of ProLink include Valderrama Golf Club in San Roque, Spain, Dai-Takarazuka in Osaka, Japan and Kapalua Resort in Maui, Hawaii.

The world's largest golf-course management companies, including Pacific Golf Management, Meadowbrook, Kemper Sports, Evergreen Alliance Group and Billy Casper Golf feature ProLink. Via its international distributors, ProLink is being rapidly adopted throughout Europe, South Africa, the Middle East, Australia and Japan.

Safe Harbor

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about ProLink Holdings Corp. (ProLink). Forward-looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of ProLink's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements which are set forth in greater detail in the Company's filings with the Securities and Exchange Commission from time to time. The information set forth herein should be read in light of such risks. ProLink does not assume any obligation to update the information contained in this press release.

For more information about ProLink, visit http://www.goprolink.com, call 480.753.2337 or email info@goprolink.com.

Source: prnewswire