American Quantum Cycles Inc. Completes $900,000 Bridge Loan
7 January 1999
American Quantum Cycles Inc. Completes $900,000 Bridge Loan; Secures $755,000 Line of Credit
MELBOURNE, Fla.--Jan. 7, 1999--American Quantum Cycles Inc. (OTC BB:AMQC) today announced that it has completed a bridge loan for $900,000 and secured a $755,000 line of credit.
Richard K. Hagen, Chairman and CEO stated: "We elected to preserve shareholder equity by minimizing the amount of capital raised through a bridge loan. The line of credit, in conjunction with the bridge loan, enables us to fulfill orders that we have received from our Dealer network, finish the legal and accounting necessary to file a registration statement, and provide working capital."
American Quantum Cycles is a new entrant into the worldwide motorcycle industry with a state-of-the-art engine utilizing a patented four-valve head for greater torque and acceleration along with lower pollutant emissions. For further information contact Melissa Kirkpatrick at 407-752-0008 or go to the AMQC Web site at www.quantumcycle.com and for additional information go to http://www.stockplaza.com/quantum.
Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words "estimate," "project," "intend," "expect," "believe," and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties.