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Ajay Sports, Inc. 37735 Enterprise Court Suite 600 Phone: (248) 994-0553 Farmington Hills, MI  48331  United States Ticker: AJAYQ Filed for Bankruptcy on 12/27/2006 Case #06-59289, filed in the U.S. Bankruptcy Court for the Eastern District of Michigan (Detroit) This company is no longer actively traded on any major stock exchange.

Business Summary Ajay Sports, Inc. operates the franchise segment of its business through Pro Golf International, Inc., a 97%-owned subsidiary, which owns 100% of the outstanding stock of Pro Golf of America, Inc., and 80% of the stock of ProGolf.com, Inc. (ProGolf.com). Pro Golf of America, Inc. is the franchisor of Pro Golf / Pro Golf Discount retail golf stores (Pro Golf stores). ProGolf.com drives traffic to its franchisee stores and sells golf equipment, and other golf-related and sporting goods products and services over the Internet. Pro Golf of America, Inc. is a franchisor of golf only retail stores, with over 116 stores in the United States, Canada, Europe and Puerto Rico, as of December 31, 2005. Pro Golf of America, Inc. provides services to its franchisees in exchange for initial franchise, advertising, marketing fees and ongoing royalties based on a percentage of retail sales. In December 2006, the Company filed a Chapter 11 Reorganization under the Federal Bankruptcy Code. (Source: 10KSB)

Financial Information Financial Ratings: Z'' Score  FRISK Score Latest Financial Statements and Analyses: 9/30/2006    Annual Financials    Quarterly Financials     Current Fiscal Period: 3Q 2006 Fiscal Year End: December Last Audit: 12/31/2005 Auditors: UHY Audit Opinion: Unqualified Public Filings: Bankruptcy Filings     SEC Filings: Management Discussion & Analysis    Full Filings

Industries Type Code Description Sector CYCLIC Consumer Cyclical Industry LRTOYS Recreational Products SIC 3949 Sporting And Athletic Goods, Not Elsewhere Classified 5941 Sporting Goods Stores And Bicycle Shops 6794 Patent Owners And Lessors 2599 Furniture And Fixtures, Not Elsewhere Classified NAICS 33992 Sporting and Athletic Goods Manufacturing 45111 Sporting Goods Stores 53311 Lessors of Nonfinancial Intangible Assets (except Copyrighted Works) 337127 Institutional Furniture Manufacturing

Management Title Name Age Title Date Start Date Chairman of the Board, Chief Executive Officer Thomas W. Itin 71   6/1/1993 President, Chief Operating Officer Brian T. Donnelly 43 6/10/2004 6/10/2004

General Information Number of Employees: 11 (As of 12/31/2005) Outstanding Shares: 28,561,175 (As of 11/20/2006) Shareholders: 900 (As of 12/31/2005) Stock Exchange: OTC Federal Tax Id: 391644025

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