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MMC Energy, Inc. Announces Sale of Operations
NEW YORK, May 27, 2009 (GlobeNewswire via COMTEX) -- MMC Energy, Inc. (Nasdaq:MMCE) announced today that on May 21, 2009 it signed a definitive purchase agreement to sell its Chula Vista and Escondido electric generating facilities and certain other assets for $4,865,500 to affiliates of Wellhead Electric Company, Inc. The sale represents the conclusion of a process to sell substantially all of the Company's remaining operating assets, except for its two GE LM6000 PC Sprint turbines, acquired at a cost of $31 million and also currently held for sale. The sale of two gas compressors to Wellhead announced in March 2009 was originally included in the process and in Wellhead's initial bid for these assets, but closed sooner on mutual agreement of the parties.
The consummation of the sale remains subject to certain customary closing conditions, including approvals by a majority of the Company's stockholders, the Federal Energy Regulatory Commission and various additional regulatory approvals. The asset sales are key steps in a contemplated liquidation of the Company. Shareholder approval will also be required for the plan of liquidation.
Wellhead will have access to the Chula Vista and Escondido facilities prior to closing to effect any equipment repairs they desire to be made, and the closing of the sale will be subject to the earlier of Wellhead's full assumption of asset management at both facilities, as described below, or August 31, 2009, assuming all other remaining closing conditions have been satisfied at such time. The repairs will be performed at Wellhead's sole expense, except that the Company may reimburse up to $500,000 of such expenditures in certain circumstances under which a deal does not close and Wellhead is entitled to a return of a $2 million deposit held in escrow pending completion of the sale. The deposit is refundable if the Company does not meet its closing obligations or accepts a superior offer from a third party.
At any time prior to closing, Wellhead, at its sole discretion, may opt to take over day to day asset management responsibility for the Chula Vista and Escondido facilities. As compensation for the asset management services, Wellhead is entitled to a 50% share in the Company's EBITDA (as defined in the purchase agreement), with a further option to increase their share to 100% if Wellhead assumes full operating responsibility and a greater share of operating risk. If Wellhead should elect to increase their EBITDA share to 100%, the closing of the asset sale will take place immediately following such election if the Company has satisfied all other closing conditions. The EBITDA sharing will be as accomplished via a purchase price adjustment at the closing if the sale closes, however, the Company will also be required to compensate the EBITDA share in cash should the sale not close in circumstances requiring a refund to Wellhead of the deposit.
"While we are disappointed in not seeing our original strategy through, the financial and energy markets of the past 12 months have made such strategy a virtual impossibility in the near term. Further, it is too expensive for us to operate only our existing peaking plants in our current public platform," noted Michael Hamilton, CEO. "The announcement of the asset sale follows an extensive review of a range of strategic alternatives for the Company, including our continuing as an independent entity and exploring mergers and acquisitions. We believe that the sale of these assets to Wellhead maximizes stockholder value and increases the probability that we will be able to distribute liquidation proceeds to our stockholders as soon as practical. In that light, the sale to Wellhead is a critical path item, and after months of working with two separate investment banks to get to this point, we feel we have accepted the best offer on the table. We will also remain diligent in seeking the best price for our remaining turbines to complete the liquidation process as soon as practical."
In anticipation of the sale, the Company has marked the assets sold to the agreed sale price as of March 31, 2009 and accordingly, does not anticipate a material gain or loss upon closing the sale transaction.
The Company's Chula Vista and Escondido Upgrade Projects have been on hold pending the receipt of long-term contracts for peaking power, and in the case of Chula Vista, a permit from the California Energy Commission, whose Preliminary Decision was against the Company. The Company believes that the disposition of the facilities and equipment at this time is a better option than incurring substantial costs to store and maintain the equipment and continue to operate as a public company until construction commences, if at all.
The Company previously announced the sale of a GE LM6000 turbine to Wellhead in November 2008 and the sale of a GE LM-2500 and related equipment from its Mid-Sun facility to Pro Energy in February 2009.
About MMC Energy, Inc.:
The Company acquires and actively manages electricity generating and energy infrastructure-related assets in the United States. The Company is traded on the NASDAQ Global Market in the United States.
The Company has invested in electricity assets which provide essential services to key transmission constrained markets in California, where regulatory capacity requirements and a lack of local electricity supplies make peak electricity generation facilities valuable. To date, the Company has acquired three electricity generating assets in California, totaling 110 MW of capacity, all of which have now been sold pending closing.
About Wellhead Electric Company, Inc.:
Wellhead is a developer, owner and operator of gas-fired power generation projects. Wellhead has been involved in the development, completion and/or operation of fourteen projects in California.
Additional Information About the Asset Sales and the Plan of Liquidation:
The Company will file with the Securities and Exchange Commission a proxy statement and other documents regarding the asset sale and the plan of liquidation referred to in this press release. STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT WHEN IT BECOMES AVAILABLE BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION. A definitive proxy statement will be sent to the Company's stockholders seeking their approval of the asset sales and the plan of liquidation. Stockholders may obtain a free copy of the proxy statement and other documents filed by the Company with the SEC at the SEC's Web site at www.sec.gov, or by directing a request to Denis Gagnon, our Chief Financial Officer, at MMC Energy, Inc., 27 Broadway, Suite 960, New York, New York 10004.
Forward Looking Statements:
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934 including (1) the approval of the asset sale and plan of liquidation by the Company's stockholders, (2) the Company's ability to consummate the sale of its assets to Wellhead, (3) the Company's ability to satisfy its liabilities out of the proceeds of the foregoing transactions and other available resources, (4) the Company's ability to distribute any remaining cash to its stockholders and (5) anticipated events relating to completion of the Company's current upgrade projects. Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements including, but not limited to, those risks described in the Company's Annual Report on Form 10-K, its most recent prospectus filed with the SEC on November 19, 2007 and in its other public filings. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update these forward-looking statements.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: MMC Energy, Inc.
By Staff
CONTACT: MMC Energy Inc.
Denis G. Gagnon, Chief Financial Officer
(212) 977-0900
www.mmcenergy.com
Good Morning All
Power Sports Factory Signs Definitive Agreement with Leader in Bike Sharing Industry, CityRyde LLC
On Thursday May 28, 2009, 4:00 pm EDT
Buzz up! Print.Related:Power Sports Factory, Inc.
PENNSAUKEN, N.J.--(BUSINESS WIRE)--Power Sports Factory, Inc. (OTCBB:PSPF - News), announced today that it has entered into a Joint Venture Agreement with CityRyde LLC, the premier Bike Share Consulting Company. CityRyde will provide Power Sports Factory with product design, RFP development, and help grow PSF’s “CleanRide” Division.
Related Quotes
Symbol Price Change
PSPF.OB 0.10 +0.02
We are extremely pleased to have CityRyde join our team," said Steve Rubakh, President of Power Sports Factory. "CityRyde brings a wealth of experience and industry knowledge in the fast growing bike share industry. They will play a key role in launching our Alternative Transportation Division."
CityRyde's Timothy Ericson states, “I look forward to working with Power Sports Factory in developing their Bike Sharing Solution. We believe PSF's product offering will be very unique and competitively priced which is important because financial barriers are one of the primary issues to the success of a bike sharing deployment.”
About CityRyde
CityRyde LLC, is a sustainable transportation consulting company that specializes in bicycle sharing, headquartered in Philadelphia, PA. The Company's mission is to enable and maximize the environmental, economic, and social benefits of bicycle-sharing by consulting on best practices to ensure self-sustaining and successful program implementations. CityRyde is in the final stages of developing a collaborative back-end information management solution mash-up (code name Oyster) that will enable bike sharing, car sharing, and other sustainable transportation models a way to intelligently manage their programs. The Company has recently won the prestigious Top Green Business of the Year Award and its Co-Founder, Timothy Ericson, was recently featured in the June 2009 issue of Entrepreneur Magazine. With over 3 million readers, CityRyde has been listed amongst some of the most innovative companies in the Entrepreneurial World. Additional information about the Company is available at http://www.cityryde.com.
About Power Sports Factory, Inc.:
New Jersey based Power Sports Factory, Inc., is wholly owned by Power Sports Factory, Inc. (OTCBB:PSPF - News). Power Sports Factory imports, markets and distributes motorbikes principally under the “Andretti” and “Yamati” brands. Additional information is available on the Power Sports Factory website at http://www.powersportsfactory.com and www.sec.gov.
Power Sports Factory is the only company with motorbikes endorsed by racing legend Mario Andretti. The Andretti line combines top performance, competitive pricing and cutting-edge European design from Benelli. Benelli is the designer of some of the best motorcycles and motorbikes in the world. The Andretti/Benelli line is also known for its high-quality construction and superior styling making it the smart choice for consumers. With today’s volatile price of fuel, motorbikes are a smart alternative for people looking for superb gas mileage.
The information contained in this news release, other than historical information, consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Factors that may cause actual results to differ materially from those expressed or implied by its forward-looking statements include, but are not limited to, Power Sports Factory's limited operating history and business development associated with being a growth stage company; its dependence on key personnel; its ability to execute its business strategy; the intense competition it faces; risk associated with disruptions of its international supply chain; its exposure to product liability claims resulting from the use of its products; general economic and capital market conditions; its ability to raise additional capital; as well as those risks described under the heading "Risk Factors" of Power Sports Factory's Form 10-KSB/A, filed with the Securities and Exchange Commission on August 18, 2008. Although Power Sports Factory, Inc. believes that the expectations reflected in such forward-looking statements are reasonable; it can give no assurance that such expectations will prove to have been correct.
Contact:
Power Sports Factory, Inc.
Steve Rubakh, President
856-488-9333
info@powersportsfactory.com
or
CityRyde, LLC
Timothy Ericson, Co-Founder
215-475-5224
tjericson@cityryde.com
Power Sports Factory Signs Definitive Agreement with Leader in Bike Sharing Industry, CityRyde LLC
On Thursday May 28, 2009, 4:00 pm EDT
Buzz up! Print.Related:Power Sports Factory, Inc.
PENNSAUKEN, N.J.--(BUSINESS WIRE)--Power Sports Factory, Inc. (OTCBB:PSPF - News), announced today that it has entered into a Joint Venture Agreement with CityRyde LLC, the premier Bike Share Consulting Company. CityRyde will provide Power Sports Factory with product design, RFP development, and help grow PSF’s “CleanRide” Division.
Related Quotes
Symbol Price Change
PSPF.OB 0.10 +0.02
"We are extremely pleased to have CityRyde join our team," said Steve Rubakh, President of Power Sports Factory. "CityRyde brings a wealth of experience and industry knowledge in the fast growing bike share industry. They will play a key role in launching our Alternative Transportation Division."
CityRyde's Timothy Ericson states, “I look forward to working with Power Sports Factory in developing their Bike Sharing Solution. We believe PSF's product offering will be very unique and competitively priced which is important because financial barriers are one of the primary issues to the success of a bike sharing deployment.”
About CityRyde
CityRyde LLC, is a sustainable transportation consulting company that specializes in bicycle sharing, headquartered in Philadelphia, PA. The Company's mission is to enable and maximize the environmental, economic, and social benefits of bicycle-sharing by consulting on best practices to ensure self-sustaining and successful program implementations. CityRyde is in the final stages of developing a collaborative back-end information management solution mash-up (code name Oyster) that will enable bike sharing, car sharing, and other sustainable transportation models a way to intelligently manage their programs. The Company has recently won the prestigious Top Green Business of the Year Award and its Co-Founder, Timothy Ericson, was recently featured in the June 2009 issue of Entrepreneur Magazine. With over 3 million readers, CityRyde has been listed amongst some of the most innovative companies in the Entrepreneurial World. Additional information about the Company is available at http://www.cityryde.com.
About Power Sports Factory, Inc.:
New Jersey based Power Sports Factory, Inc., is wholly owned by Power Sports Factory, Inc. (OTCBB:PSPF - News). Power Sports Factory imports, markets and distributes motorbikes principally under the “Andretti” and “Yamati” brands. Additional information is available on the Power Sports Factory website at http://www.powersportsfactory.com and www.sec.gov.
Power Sports Factory is the only company with motorbikes endorsed by racing legend Mario Andretti. The Andretti line combines top performance, competitive pricing and cutting-edge European design from Benelli. Benelli is the designer of some of the best motorcycles and motorbikes in the world. The Andretti/Benelli line is also known for its high-quality construction and superior styling making it the smart choice for consumers. With today’s volatile price of fuel, motorbikes are a smart alternative for people looking for superb gas mileage.
The information contained in this news release, other than historical information, consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Factors that may cause actual results to differ materially from those expressed or implied by its forward-looking statements include, but are not limited to, Power Sports Factory's limited operating history and business development associated with being a growth stage company; its dependence on key personnel; its ability to execute its business strategy; the intense competition it faces; risk associated with disruptions of its international supply chain; its exposure to product liability claims resulting from the use of its products; general economic and capital market conditions; its ability to raise additional capital; as well as those risks described under the heading "Risk Factors" of Power Sports Factory's Form 10-KSB/A, filed with the Securities and Exchange Commission on August 18, 2008. Although Power Sports Factory, Inc. believes that the expectations reflected in such forward-looking statements are reasonable; it can give no assurance that such expectations will prove to have been correct.
Contact:
Power Sports Factory, Inc.
Steve Rubakh, President
856-488-9333
info@powersportsfactory.com
or
CityRyde, LLC
Timothy Ericson, Co-Founder
215-475-5224
tjericson@cityryde.com
i agree once we break .10 .12 we fly
yep i agree
THATS ALOT BETTER THE .005
thnx
you never know after they did the reverse split somone has been buying the stock
great
Good Morning how are you
Good Morning All
The only way to get things going big time here is to get More Funding they the company can take off
Good Morning All
i wonder what it means?
the other stock CRMY look at your post
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=35056865
its trading now YAY lets see what happenes now
as allways SPNG & PSPF
Federal Government Offer Tax Credit for Scooter Purchases
Posted: May 17, 2009 09:39 PM EDT
Updated: May 18, 2009 12:38 AM EDT
Video Gallery <1>
Federal Government Offer Tax Credit for Scooter Purchases
0:51
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$8,000 Tax Credit Helps Turn Housing Market Around
As gas prices continue to rise the government may have a little incentive to help you cut costs by riding a scooter.
If you buy a motorcycle or scooter the federal government will give you a tax credit.
It works like this, if you buy a scooter you can deduct the taxes you paid on a purchase up up to $4,900.
Sales of scooters and motorcycles spiked last summer when gas prices hit four dollars but as prices dropped and the economy took a hit so did sales of the bikes.
But there are still several cash saving incentives to buying a bike.
Two Brothers Powersports Sales Manager Jason Wucki says, "The cost of maintenance is lower. The cost of filling up is lower because every scotter gets 90 to 100 miles per gallon so just the cost saving that you accumulate."
To find out more about the tax credit for scooter and motorcycle purchases talk to you local dealer.
wow thank you great chart
PSPF - Power Sports Factory To Pursue Alternative Transportation Channel
PENNSAUKEN, N.J., May 18, 2009 (BUSINESS WIRE) -- Power Sports Factory, Inc. (OTCBB:PSPF) announced the formation of an alternative transportation division named "CleanRide (TM)". This newly launched division will provide sustainable transportation solutions to municipalities and transit agencies, property managers and real estate developers, colleges and universities, hotels, parks and other transportation related businesses.
We intend to plan, develop, distribute and operate "CleanRideSoftware" and solar powered "CleanRideStations", enabling both bicycle and scooter sharing to be an integral part of the transportation system. We intend to partner with major car sharing companies to facilitate our core product offerings. Our services will include sustained transportation consulting and customized solutions development, software licensing, equipment manufacturing and distribution.
The initial focus of the division will be on bicycle sharing, which is an emerging form of environmentally friendly public transportation that is growing at a significant pace. The number of bike sharing programs worldwide nearly doubled over the last 12 months, according to research information provided by CityRyde, LLC. Continued growth is expected primarily due to increased environmental impact awareness, increased usage of public transit systems and greater need for decreased traffic congestion.
"This is an exciting opportunity and could provide us with the ability to expand our revenue base," said Steve Rubakh, President of Power Sports Factory. "Denver, San Francisco, Chicago, Philadelphia, Phoenix, Minnesota are considering Bike Sharing Programs. Just a few months ago, NYC Dept of City Planning released a Feasibility Study describing a city wide Bike-Share Opportunity in New York City and estimating the cost for initial stage to be $58 million."
About Power Sports Factory, Inc.:
New Jersey based Power Sports Factory, Inc., is wholly owned by Power Sports Factory, Inc. (OTCBB:PSPF). Power Sports Factory imports, markets and distributes motorbikes principally under the "Andretti" and "Yamati" brands. Additional information is available on the Power Sports Factory website at http://www.powersportsfactory.com and www.sec.gov.
Power Sports Factory is the only company with motorbikes endorsed by racing legend Mario Andretti. The Andretti line combines top performance, competitive pricing and cutting-edge European design from Benelli. Benelli is the designer of some of the best motorcycles and motorbikes in the world. The Andretti/Benelli line is also known for its high-quality construction and superior styling making it the smart choice for consumers. With today's volatile price of fuel, motorbikes are a smart alternative for people looking for superb gas mileage.
The information contained in this news release, other than historical information, consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Factors that may cause actual results to differ materially from those expressed or implied by its forward-looking statements include, but are not limited to, Power Sports Factory's limited operating history and business development associated with being a growth stage company; its dependence on key personnel; its ability to execute its business strategy; the intense competition it faces; risk associated with disruptions of its international supply chain; its exposure to product liability claims resulting from the use of its products; general economic and capital market conditions; its ability to raise additional capital; as well as those risks described under the heading "Risk Factors" of Power Sports Factory's Form 10-KSB/A, filed with the Securities and Exchange Commission on August 18, 2008. Although Power Sports Factory, Inc. believes that the expectations reflected in such forward-looking statements are reasonable; it can give no assurance that such expectations will prove to have been correct.
SOURCE: Power Sports Factory, Inc.
CONTACT:
Power Sports Factory, Inc. Steve Rubakh, President 856-488-9333 info@powersportsfactory.com
Power Sports Factory To Pursue Alternative Transportation Channel
PENNSAUKEN, N.J., May 18, 2009 (BUSINESS WIRE) -- Power Sports Factory, Inc. (OTCBB:PSPF) announced the formation of an alternative transportation division named "CleanRide (TM)". This newly launched division will provide sustainable transportation solutions to municipalities and transit agencies, property managers and real estate developers, colleges and universities, hotels, parks and other transportation related businesses.
We intend to plan, develop, distribute and operate "CleanRideSoftware" and solar powered "CleanRideStations", enabling both bicycle and scooter sharing to be an integral part of the transportation system. We intend to partner with major car sharing companies to facilitate our core product offerings. Our services will include sustained transportation consulting and customized solutions development, software licensing, equipment manufacturing and distribution.
The initial focus of the division will be on bicycle sharing, which is an emerging form of environmentally friendly public transportation that is growing at a significant pace. The number of bike sharing programs worldwide nearly doubled over the last 12 months, according to research information provided by CityRyde, LLC. Continued growth is expected primarily due to increased environmental impact awareness, increased usage of public transit systems and greater need for decreased traffic congestion.
"This is an exciting opportunity and could provide us with the ability to expand our revenue base," said Steve Rubakh, President of Power Sports Factory. "Denver, San Francisco, Chicago, Philadelphia, Phoenix, Minnesota are considering Bike Sharing Programs. Just a few months ago, NYC Dept of City Planning released a Feasibility Study describing a city wide Bike-Share Opportunity in New York City and estimating the cost for initial stage to be $58 million."
About Power Sports Factory, Inc.:
New Jersey based Power Sports Factory, Inc., is wholly owned by Power Sports Factory, Inc. (OTCBB:PSPF). Power Sports Factory imports, markets and distributes motorbikes principally under the "Andretti" and "Yamati" brands. Additional information is available on the Power Sports Factory website at http://www.powersportsfactory.com and www.sec.gov.
Power Sports Factory is the only company with motorbikes endorsed by racing legend Mario Andretti. The Andretti line combines top performance, competitive pricing and cutting-edge European design from Benelli. Benelli is the designer of some of the best motorcycles and motorbikes in the world. The Andretti/Benelli line is also known for its high-quality construction and superior styling making it the smart choice for consumers. With today's volatile price of fuel, motorbikes are a smart alternative for people looking for superb gas mileage.
The information contained in this news release, other than historical information, consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Factors that may cause actual results to differ materially from those expressed or implied by its forward-looking statements include, but are not limited to, Power Sports Factory's limited operating history and business development associated with being a growth stage company; its dependence on key personnel; its ability to execute its business strategy; the intense competition it faces; risk associated with disruptions of its international supply chain; its exposure to product liability claims resulting from the use of its products; general economic and capital market conditions; its ability to raise additional capital; as well as those risks described under the heading "Risk Factors" of Power Sports Factory's Form 10-KSB/A, filed with the Securities and Exchange Commission on August 18, 2008. Although Power Sports Factory, Inc. believes that the expectations reflected in such forward-looking statements are reasonable; it can give no assurance that such expectations will prove to have been correct.
SOURCE: Power Sports Factory, Inc.
CONTACT:
Power Sports Factory, Inc. Steve Rubakh, President 856-488-9333 info@powersportsfactory.com
just got back
i agree
PSPF NEWS
PSPF - Power Sports Factory, Inc. announces Launch of New 250cc Andretti-Benelli Caffe Nero
May 6, 2009 10:01:00 AM
PENNSAUKEN, N.J.--(BUSINESS WIRE)-- Power Sports Factory, Inc. announced today that it is adding a 250cc Andretti-Benelli Motorbike to its existing lineup. The Caffe Nero will arrive in the United States at the end of the second quarter. Power Sports Factory will add this 75MPH motorbike to its current product offering of the Andretti-Benelli X50, Andretti-Benelli X50i, Andretti-Benelli M50 and Andretti-Benelli 150XT motorbike.
"We are very excited to add this high performance motorbike to our existing product offering which has garnered significant pre-production interest" said CEO Shawn Landgraf. "The Andretti-Benelli Caffe Nero is the ultimate in motorbike riding. With its powerful 250cc water cooled engine, the Caffe Nero can handle any type of road."
About Power Sports Factory, Inc.:
New Jersey based Power Sports Factory, Inc., is wholly-owned by Power Sports Factory, Inc. (OTCBB:PSPF). Power Sports Factory imports, markets and distributes motorbikes principally under the "Andretti" and "Yamati" brands. Additional information is available on the Power Sports Factory website at http://www.powersportsfactory.com and www.sec.gov
Power Sports Factory is the only company with motorbikes endorsed by racing legend Mario Andretti. The Andretti line combines top performance, competitive pricing and cutting-edge European design from Benelli. Benelli is the designer of some of the best motorcycles and motorbikes in the world. The Andretti/Benelli line is also known for its high-quality construction and superior styling making it the smart choice for consumers. With today's high price of fuel, motorbikes are a smart alternative for people looking for superb gas mileage.
The information contained in this news release, other than historical information, consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Factors that may cause actual results to differ materially from those expressed or implied by its forward-looking statements include, but are not limited to, Power Sports Factory's limited operating history and business development associated with being a growth stage company; its dependence on key personnel; its ability to execute its business strategy; the intense competition it faces; risk associated with disruptions of its international supply chain; its exposure to product liability claims resulting from the use of its products; general economic and capital market conditions; its ability to raise additional capital; as well as those risks described under the heading "Risk Factors" of Power Sports Factory's Form 10-KSB/A, filed with the Securities and Exchange Commission on August 18, 2008. Although Power Sports Factory, Inc. believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5958074&lang=en
Source: Power Sports Factory, Inc.
----------------------------------------------
Power Sports Factory
Inc.
Shawn Landgraf
CEO
856-488-9333
info@powersportsfactory.com
Thnx great news
PSPF - Power Sports Factory, Inc. announces Launch of New 250cc Andretti-Benelli Caffe Nero
May 6, 2009 10:01:00 AM
PENNSAUKEN, N.J.--(BUSINESS WIRE)-- Power Sports Factory, Inc. announced today that it is adding a 250cc Andretti-Benelli Motorbike to its existing lineup. The Caffe Nero will arrive in the United States at the end of the second quarter. Power Sports Factory will add this 75MPH motorbike to its current product offering of the Andretti-Benelli X50, Andretti-Benelli X50i, Andretti-Benelli M50 and Andretti-Benelli 150XT motorbike.
"We are very excited to add this high performance motorbike to our existing product offering which has garnered significant pre-production interest" said CEO Shawn Landgraf. "The Andretti-Benelli Caffe Nero is the ultimate in motorbike riding. With its powerful 250cc water cooled engine, the Caffe Nero can handle any type of road."
About Power Sports Factory, Inc.:
New Jersey based Power Sports Factory, Inc., is wholly-owned by Power Sports Factory, Inc. (OTCBB:PSPF). Power Sports Factory imports, markets and distributes motorbikes principally under the "Andretti" and "Yamati" brands. Additional information is available on the Power Sports Factory website at http://www.powersportsfactory.com and www.sec.gov
Power Sports Factory is the only company with motorbikes endorsed by racing legend Mario Andretti. The Andretti line combines top performance, competitive pricing and cutting-edge European design from Benelli. Benelli is the designer of some of the best motorcycles and motorbikes in the world. The Andretti/Benelli line is also known for its high-quality construction and superior styling making it the smart choice for consumers. With today's high price of fuel, motorbikes are a smart alternative for people looking for superb gas mileage.
The information contained in this news release, other than historical information, consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Factors that may cause actual results to differ materially from those expressed or implied by its forward-looking statements include, but are not limited to, Power Sports Factory's limited operating history and business development associated with being a growth stage company; its dependence on key personnel; its ability to execute its business strategy; the intense competition it faces; risk associated with disruptions of its international supply chain; its exposure to product liability claims resulting from the use of its products; general economic and capital market conditions; its ability to raise additional capital; as well as those risks described under the heading "Risk Factors" of Power Sports Factory's Form 10-KSB/A, filed with the Securities and Exchange Commission on August 18, 2008. Although Power Sports Factory, Inc. believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5958074&lang=en
Source: Power Sports Factory, Inc.
----------------------------------------------
Power Sports Factory
Inc.
Shawn Landgraf
CEO
856-488-9333
info@powersportsfactory.com
1 hour and 20 min to work
radar SPNG LHPT PSPF
great how was yours ready to make the money
how you doing
they are selling bikes big time now
ibox updated today with new o/s
Bridgestone Tires Available On All Power Sports Factory Andretti/Benelli Motorbikes
Motorbikes exclusively distributed by Power Sports Factory
NASHVILLE, Tenn. – Bridgestone Firestone North American Tire, LLC (BFNT) and Power Sports Factory, Inc. (PSF) have announced that a range of Bridgestone brand motorcycle and motorbike tires will be available on the entire line of Power Sports Factory’s Andretti/Benelli premium motorbikes by the end of 2008.
The only motorbikes endorsed by racing legend Mario Andretti, the line combines top performance, competitive pricing and cutting-edge European design from Benelli – designer of some of the best motorcycles and motorbikes in the world. The Andretti/Benelli line is known for its high-quality construction and attractive styling, making it a smart choice for consumers.
“Given BFNT’s long-standing relationship with Mario Andretti, and the Bridgestone brand’s reputation for high performance motorcycle and motorbike tires, we found this to be a great opportunity to tie the two together,” commented Phil Pacsi, Vice President, Consumer Marketing, BFNT. “We are proud that Mario wanted to ensure that our tires would be available on the motorbikes that carry his name.”
Added Steve Kempenich, CEO, Power Sports Factory, Inc., “Power Sports Factory is very excited to be able to offer Bridgestone brand tires on our Andretti/Benelli motorbikes. In testing, the performance of our motorbikes dramatically improved when we replaced the original equipment tires with Bridgestone tires. Add in BFNT’s legacy of success with the bikes’ endorser, Mario Andretti, and you have a perfect fit.”
The Bridgestone Battlax BT45 Sport Touring tire offers a silica-enriched compound for tremendous wet and dry grip, while its edges offer performance while cornering. A larger crown radius contributes to great stability for touring at speed. The Battlax BT45 will be available on the Andretti/Benelli M Series, which combines classic European styling with powerful performance, making it the ideal “around town” ride.
The Bridgestone Molas ML50 is the Bridgestone brand’s core scooter line for quality-conscious end users. The ML50 provides fine dry grip, solid wet performance, riding comfort and long life, and it will be available for the Andretti/Benelli X Series – which blends revolutionary design with high performance to deliver affordable quality to the high-end motorbike market.
Customers of the top-of-the-line Andretti/Benelli XT Series motorbike, with its modern styling and power for high performance on the open road, can choose Bridgestone Molas ML50 for the front tire and the Bridgestone Hoop B02 for the rear. The Hoop B02 is specially designed for today’s more powerful high performance scooters, and it provides tremendous dry grip and handling.
About Bridgestone Firestone North American Tire, LLC:
Nashville, Tenn.-based Bridgestone Firestone North American Tire, LLC (BFNT) is a subsidiary of Bridgestone Americas Holding, Inc., whose parent company, Bridgestone Corporation, is the world’s largest tire and rubber company. BFNT develops, manufactures and markets Bridgestone, Firestone and associate brand tires. The company is focused on wholesale and original equipment markets, supplying passenger, light truck, commercial vehicle, off-road, motorcycle, agricultural, and other tires to its customers in North America.
About Power Sports Factory, Inc.:
New Jersey-based Power Sports Factory, Inc., is wholly-owned by Purchase Point Media Corp. (OTCBB:PPMC), a Minnesota corporation. Power Sports Factory imports, markets and distributes motorbikes principally under the “Andretti” and “Yamati” brands. Additional information is available on the Power Sports Factory website at www.powersportsfactory.com and www.sec.gov.
i belive we have a 6 million market cap now
for 1)Andretti is involved and he can make this a real winner
2)the summer is coming now and scooters are hot now
i belive its around 39 mill look at the ibox for some info