Ultra Motorcycle Co. Meets With Air Resources Board to Discuss Pending Action
21 November 2000
Ultra Motorcycle Co. Meets With Air Resources Board to Discuss Pending Action
MIRA LOMA, Calif.--Nov. 21, 2000--Bikers Dream Inc., which does business under the name Ultra Motorcycle Co. , Tuesday reported:As described in the company's report on Form 10-QSB for the quarter ended Sept. 30, 2000, the California State Air Resources Board ("ARB") has filed an action against the company alleging violations of California's motor vehicle air pollution control laws. The company was unaware of the lawsuit, until it was served in November 2000.
The company intends to seek a prompt resolution of this matter on terms which will not materially impair the company's financial condition. The company met with representatives of the ARB on Nov. 17 in order to initiate discussions toward this end, and such discussions are expected to continue.
The company believes that a total of 91 alleged violations, occurring between approximately September 1997 and July 1999, are the subject of the action. No motorcycles currently being manufactured or offered for sale by the company are presently the subject of this action.
The company is currently operating under the fictitious business name ("dba") "Ultra Motorcycle Company." It will seek to amend its Articles of Incorporation at its next shareholder meeting, changing the corporation's name from "Bikers Dream, Inc.," to "Ultra Motorcycle Company." The company sold its Bikers Dream Superstores and the trade name "Bikers Dream" to V-Twin Holdings Inc. earlier this year.
Any references to Bikers Dream should not be confused with references to V-Twin Holdings or its Bikers Dream Superstores.
Ultra Motorcycle is a leading designer, manufacturer and distributor of high quality, American-made heavyweight cruiser motorcycles. Ultra's models include the Sledgehammer, Fat Pounder, Ground Pounder, Ground Pounder ST, Avenger, Jackhammer ST, Wide One and Wide Two.
All of the Ultra models are manufactured at the company's corporate headquarters and manufacturing facility in Mira Loma. Ultra motorcycles are distributed through a nationwide dealer network.
Certain matters discussed herein are "forward-looking" statements intended to qualify for the safe harbors from liability in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to certain risks and uncertainties, which could cause actual results to differ materially from those anticipated as of the date hereof. Specific factors that might cause such a difference might include, but not be limited to, those referenced in the company's filings with the Securities and Exchange Commission. The forward-looking statements contained herein are only made as of the date hereof and the company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.