MBAH Acquires Blue Sky Motorcycle Rentals, Inc.SCOTTSDALE, Ariz.--March 22, 2005--MBA Holdings Inc. (OTCBB:MBAH), is pleased to announce that it has acquired 100% ownership of Blue Sky Motorcycle Rentals, Inc. (BSMR). Previous to this 100% acquisition, MBAH held a 50% ownership in BSMR. The remaining 50% purchase of Blue Sky CEO Wayne (Lumpy) Ordakowski's position was completed with cash and an additional 2.5 Million shares of MBAH common stock. Cash terms of the purchase were not disclosed. CEO Wayne (Lumpy) Ordakowski has been retained as CEO on a long-term employment contract with performance incentives and a monthly salary.
Blue Sky CEO Wayne (Lumpy) Ordakowski comments: "We worked hard to build Blue Sky into what it is today, but as a small private company, we fell short of assembling all the necessary ingredients to dominate the rental industry. Now Blue Sky fits as one of the important and necessary ingredients to MBAH's plan of profitable market domination. I gave up a piece for a bigger piece. I'm also extremely excited about the negotiations that I'm presently involved in to even further unify this industry. When completed, bar none, MBAH will have assembled everything a motorcycle dealer, start-up Mom and Pop rental operation, or a motorcycle manufacturer will need to compete at a fair price."
Blue Sky currently operates 12 licensed motorcycle rental locations in California, Arizona, Nevada, New Mexico, Hawaii and Utah. Blue Sky owns its Denver, Colorado store. Blue Sky's fleet of rental motorcycles include Harley Davidson, Big Dog, Ironhorse, Honda, Suzuki, Carefree Custom, Yamaha and Buell. Other rented vehicles include scooters, off road dirt bikes and All Terrain Vehicles (ATVs). Blue Sky has been featured on Good Morning Arizona, Discovery Channel's "World's Strongest Man" and other local radio and television broadcasts. Blue Sky Motorcycle Rentals is as of now, a wholly owned subsidiary of MBAH.
Gaylen Brotherson, CEO of MBAH said, "I could not be more pleased. I know with the addition of 100% of Blue Sky Motorcycle Rentals to the MBA Family and the addition of Wayne (Lumpy) Ordakowski to the MBAH TEAM, we are now a force to be reckoned with, not just in the motorcycle rental market, but also in the entire motorcycle related arena. I look forward to the continued growth of MBAH and in a short period of time, to strengthening our planned consolidation of the motorcycle market with our fundamentally sound MBAH/NMDA programs."
"Safe Harbor" statements under the Private Securities Litigation Reform Act of 1995: Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to business conditions and the amount of growth in the insurance or associated automotive industries and general economy, competitive factors, and other risks detailed from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-K and its quarterly reports on Forms 10-Q. The Company does not undertake any obligation to update forward-looking statements.