Found this on BIKR. Maybe you already saw it.
So, where is Bikers Dream now trading at?
Oh, around $2.19.
Gulp!
Why is the stock down?
Chairman Herm Rosenman concedes that a recent registration for a Series D convertible preferred issued spooked some investors.
Also, reports (also in this column) of a very major corporate investor proved to be premature.
However, Rosenman assures that negotiations with the potential investor are still alive and well and very serious. 'I feel very positive,' he says.
And although 'sales are everything I thought they would be,' according to Rosenman, 'they are not what I wish they were.'
The problem: Like many fledgling sites, it needs exposure, publicity and a buzz.
That's what he hopes to use the money for if he gets the financing.
Meanwhile, he has another plan to raise some dough: He is trying to sell his five company-owned stores. 'We're in discussions with a number of group about disposing company-owned retail stores and the franchising and licensing rights,' he concedes.
How much would such a deal raise? All Rosenman would say is that it would amount to a 'multi-million (dollar) package.'
If this happens, Bikers Dream would be left with its manufacturing operation, catalogue and website.
Would Rosenman consider selling the company altogether? 'At its current price, it doesn't make sense. I don't think the board would ever vote a sale given where we are.'
Bottom Line
This stock could be hard-pressed to get back to $9, unless it gets the money and is then able to convince bikers that its website and catalogue are the places to go to buy their parts. |
