Business Summary:
The demand for low cost personal transportation products, already a $1 billion global market, is growing rapidly worldwide. Over one million units are sold each year in the U.S. alone. The Company s award-winning product line is well positioned to capture this exploding opportunity by featuring high quality, high-performance electric and gasoline scooters and karts. Established in 1985, the Company grew to $30 million in sales by 2000. The following year, offshore market-followers destabilized the market with low priced, low quality products, leading to a steep decline in the Company s revenues. The Company won an injunction in 2004 and opened a modern, fully equipped 70,000 square foot plant to reduce manufacturing costs. Management believes that sales have now stabilized. A new, revolutionary off-road scooter will be featured in major publications in August 2005 and shipments will begin in the fall. The Company is in need of professional management capable of implementing and funding a proactive marketing program. Outsourcing the manufacture of a low cost but high quality mass market product line to Asia using the Company s excellent engineering provides a dramatic opportunity to further lower costs and increase sales.
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