Bad Toys Secures $12 Million in Equity Financing with Cornell Capital Partners L.P.
KINGSPORT, Tenn.--June 2, 2004--Bad Toys, Inc. (OTCBB: BTOI), a Nevada corporation engaged in the business of manufacturing and selling custom V-Twin motorcycles, custom street rods an provides brokerage service to custom, classic cars, and motorcycle owners, announced it has completed an agreement for equity financing that would provide the company $12 million in funding from Cornell Capital Partners. Bad Toys may, at its discretion, issue shares to Cornell at any time over the next two years. The maximum aggregate amount of the equity placements pursuant to the Agreement is $12 million. Subject to this limitation, Bad Toys may draw down up to $225,000 per week. The facility may be used in whole or in part entirely at Bad Toys' discretion, subject to an effective registration."We are pleased to have been able to structure this standby placement agreement, and to establish a relationship with Cornell Capital", commented Larry Lunan, Bad Toys' President and CEO. "Additionally, we feel the flexibility of this funding meets with our current corporate needs."
Bad Toys, Inc. commenced trading in November 2003 and traded from a low of $0.50 to a high of $1.85. Currently the stock is trading at $1.80.
For further information, contact Bad Toys, Inc., Larry N. Lunan, President and Chief Executive Officer, (423) 247-9560 or Investor Relations (561) 827-0637. Further information about the company may be obtained on its Web site at www.badtoys.net.
About Cornell Capital Partners, LP
Information regarding Cornell Capital Partners can be found at www.cornellcapital.com.