RECITALS

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                                                                   EXHIBIT 10.10



                        FIRST AMENDMENT TO LOAN AGREEMENT


         THIS FIRST AMENDMENT TO LOAN AGREEMENT (this "Amendment") is made and
entered into as of December 30, 1998, by and among Coyote Sports, Inc., a Nevada
corporation (the "Borrower"), Xxx X. Xxxxxxxxxxx, the Chairman of the Borrower's
board of directors ("Xxxxxxxxxxx"), Xxxxx X. Xxxxxx, the Chief Executive Officer
and President and a director of the Borrower (jointly with Xxxxxxxxxxx, the
"Shareholders"), and Paragon Coyote Texas Ltd., a Texas limited partnership
whose principal executive offices are located at 000 Xxxx Xxxxxxx Xxxxxx, Xxxxx
0000, Xxxx Xxxxx, Xxxxx 00000 (the "Lender").

                                    RECITALS

         WHEREAS, the parties entered into that certain Loan Agreement dated as
of March 19, 1998 (the "Loan Agreement"); and

         WHEREAS, the parties wish to amend the Loan Agreement as set forth
below.

         NOW, THEREFORE, in consideration of the premises and of other good and
valuable consideration, the receipt and sufficiency of which the parties hereby
acknowledge, the parties hereby agree as follows:

         1.   Section 4.13 of the Loan Agreement hereby is amended in its 
entirety to read as follows:

              "Section 4.13. First Reset Date. In the event that, on December
         30, 1998, any principal of the Loan remains unpaid and the aggregate
         value of the Initial Consideration Shares (the "Aggregate First Reset
         Value"), based on the per-share closing price of the Common Stock on
         December 29, 1998 as quoted on the NASDAQ Small Cap market system (the
         "Per-Share First Reset Value"), is less than $1,000,000, then the
         Borrower promptly shall deliver to the Lender, at the Borrower's
         option, either (a) an amount in cash equal to (i) $1,000,000 less (ii)
         the Aggregate First Reset Value (the "Aggregate First Reset Value
         Difference") or (b), free of any and all encumbrances (other than
         restrictions on transfer imposed by applicable securities laws), such
         number of shares validly-issued, fully-paid and nonassessable shares of
         Common Stock as are equal to (i) the Aggregate First Reset Value
         Difference divided by (ii) the Per-Share First Reset Value."

         2.   As amended hereby, the Loan Agreement shall remain in full force 
and effect.

         3.   This Amendment may be executed in one or more counterparts, each
of which shall be an original and all of which taken together shall constitute
one and the same instrument.

First Amendment to Loan Agreement 
(Paragon Coyote Texas Ltd./Coyote Sports, Inc.)
As of December 30, 1998 - Page 1 of 2


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Signatures exchanged by facsimile shall be deemed to constitute original,
manually-executed signatures and shall be fully binding.

         IN WITNESS WHEREOF, the parties have entered into this First Amendment
to Loan Agreement as of the date set forth above.


BORROWER:                       COYOTE SPORTS, INC.,
                                  a Nevada corporation

                                By: /s/ Xxxxx X. Xxxxxx
                                        Xxxxx X. Xxxxxx, Chief Executive Officer

LENDER:                         PARAGON COYOTE TEXAS LTD.,
                                  a Texas limited partnership

                                By:     Paragon Management Group, Inc.,
                                          a Texas corporation, General Partner

                                        By: /s/ Xxxx X. Xxxxxx
                                                Xxxx X. Xxxxxx, President

SHAREHOLDERS:                   /s/ Xxx X. Xxxxxxxxxxx
                                XXX X. XXXXXXXXXXX

                                /s/ Xxxxx X. Xxxxxx
                                XXXXX X. XXXXXX

First Amendment to Loan Agreement 
(Paragon Coyote Texas Ltd./Coyote Sports, Inc.)
As of December 30, 1998 - Page 2 of 2