Element 21 Golf Co. reported earnings results for the year ended June 30, 2009. The company reported its fiscal 2009 revenues for July 1, 2008 to June 30, 2009 of $4.01 million. Loss from operations for the year decreased by 365% to $1.436 million in 2009 from $5.248 million in 2008. Loss before interest and taxes were $1.34 million compared to $2.82 million in 2008. Loss before tax was $1.59 million compared to $2.86 million in 2008. Net loss from continuing operations was $1.59 million compared to $2.86 million in 2008. Net loss was $1.59 million compared to $2.86 million in 2008. Net loss applicable to common shares was $1.59 million compared to $2.86 million in 2008.

Element 21 Golf Co. announced financial results for the fourth quarter and Full year ended June 30, 2009. For the quarter, the company reported revenue of $1,197,000 an increase of 35% compared to revenue of $889,000 in the same period in fiscal 2008. At the same time the Loss from Operations for quarter decreased by 725% to $184,000 in 2009 from $1,335,000 in 2008. For the full year, the company reported revenues of $4,010,000, showing 218% growth in sales as compared to the equivalent period in 2008.

Element 21 Golf Co. announced that it has appointed a new Chief Financial Officer--Philip Clark, CA, CPA, CFA. Philip Clark over the past 20 years has taken a leadership role in business relationships and technical standards. A seasoned financial professional as demonstrated by holding senior positions in public accounting firms including managing partner and serving as audit committee chair and director of a Canadian crown corporation. His experience includes SEC registrants, Canadian public companies, government entities and owner managed businesses. David Khazak resigned as a part-time CFO due to time constraints imposed by his other clients.