Bad Toys to Acquire Backstreet Design and Paul Herman Hot Rods; Bad Toys Acquisition to Add $1 Million to Its Current Backlog
KINGSPORT, Tenn.--May 1, 20043, 2004--Bad Toys, Inc. (OTCBB:BTOI):Highlights:
-- Bad Toys to Appoint Donnie Miller As General Manager of the Auto Division Nashville, Tn. Region
-- Paul Herman to be the lead designer for Bad Toys' Hot Rods
Bad Toys, Inc. (OTCBB:BTOI), a manufacturer and retailer of custom V-twin motorcycles, completed its acquisition of both Backstreet Design and Paul Herman Hot Rods, both Tennessee based companies. Exact terms of the deal were not disclosed. Under the terms of the deal, Bad Toys' acquisition includes a backlog of approximately $1 million that will increase revenues for Bad Toys over the course of the next two quarters.
The acquisition of the two companies' is key to Bad Toys Auto Division and will expand Bad Toys resources and talents of the company's design team. Furthermore, with the appointment of Donnie Miller as General Manager of Bad Toys Auto Division, Bad Toys will benefit from his successful tract record for increasing sales, improving gross profit and reducing operational costs.
Larry Lunan, Bad Toys' president and CEO, stated, "We are excited to have such a dynamic and talented duo of Donnie Miller and Paul Herman join Bad Toys. Together they bring a combined experience of more than 40 years in this niche market. We at Bad Toys welcome them and look forward to completing the acquisition and expect a smooth transition of these highly experienced professionals to our growing team."
Donnie Miller and Paul Herman have teamed up in the past to work on several projects to create award-winning results in the hot rod industry. This dynamic duo's shared ethics, synergistic business philosophies and desire for excellence shall be truly beneficial for Bad Toys. Donnie Miller and Paul Herman will organize operations and facilitate the acquisition of manpower and equipment required to manufacture a signature series of hot rods, ground-up restoration, custom builds, custom fabrication and painting, retail part sales, custom motorcycle sales and specialty customizing second to none.
About Donnie Miller
Donnie Miller's career includes receiving global recognition for his design in all facets of the custom car industry. Donnie is currently the President of Backstreet Design and will assume his new role and position as General Manager for Bad Toys Auto Division upon completion of the acquisition, which is expected to be within the next 30 days. Donnie was formerly Vice President and General Manager of Four Winds Manufacturing. As VP and GM for Four Winds Manufacturing, Donnie was instrumental in increasing revenues, reducing operation costs and building a solid team under his management. Donnie has received several industry awards recognizing his artistic career in the hot rod market. Donnie attended the University of Virginia as well as the University of Pittsburgh. Donnie has been recognized with several industry awards for his innovative designs artistically and mechanically some of these awards include: 1997 Dupont International 'Top Gun' Grand Prize Award Winner; 1998 Hunters Auto Expo in Nashville Best Overall and Best Paint; 1999 NHRA Nationals in Bristol, TN Best Appearing Car; 1999 NHRA Nationals in Atlanta Best Overall; 2000 NSRA Nationals in Louisville Top 25; and 2000 NSRA Nationals in Pigeon Forge, TN Pro's Pick.
About Paul Herman
Paul Herman has been designing and building hot rods for more than a decade. His expertise in technology and artistic abilities in the hot rod industry are second to none. Paul has achieved international acclaim with his innovative approach to hot rod fabrication coupled with a keen sense of style. Paul Herman has managed and owned several successful companies and it is this innate ability that has made him influential in this industry. His work has been featured in various industry magazines including the cover of American Rodder, named top 100 by Rod and Custom Magazine, named top 10 in Sport Truck Magazine to name a few. Paul's achievements have also been recognized with several industry awards including: Ford Motor Company 2004 Award of Excellence at SEMA (Specialty Equipment Market Association) Show in Las Vegas; 1998 Top Ten Pros Pick NSRA Nationals, Pigeon Forge, TN and Top 25 1998 NSRA Street Rod Nationals in Louisville.
For further information, contact Bad Toys, Inc., Larry N. Lunan, President and Chief Executive Officer, (423) 247-9560 or Al Kau, Investor Relations in California at (888) 795-3166.
Certain statements in this release and other written or oral statements made by or behalf of the company are "forward looking statements" within the meaning of the federal securities laws. Statements regarding future events and developments and our future performance, as well as management's expectations, beliefs, plans estimates or projections relating to the future are forward-looking statements within the meaning of these laws. The forward looking statements are subject to a number of risks and uncertainties including market acceptance of the company's services and projects and the company's continued access to capital and other risks and uncertainties outlined in its filings with the Securities and Exchange Commission, which are incorporated herein by reference. The actual results the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. These statements are based on our current expectations and speak only as of the date of such statements. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information or otherwise.