Bikers Dream Obtains $4.5 Million Loan From Tandem Bank.SANTA ANA Santa Ana, city, El Salvador Santa Ana (sän'tä ä`nä), city (1993 pop. 129,873), W El Salvador. It is the second largest city in the country and the commercial and processing center for a sugarcane, coffee, and cattle region. , Calif.--(BUSINESS WIRE)--June 24, 1998--Bikers Dream (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BIKR) announced the closing of a three year, $4.5 million senior secured loan (the "Loan") with Tandem Capital. Bikers Dream expects to utilize the proceeds of the Loan, to repay existing debt, expand motorcycle manufacturing production at the Riverside, California Riverside is the county seat of Riverside County, California, United States and is also a focus city of the Greater Los Angeles Area. The city is named for the nearby Santa Ana River. As of 2006, Riverside had an estimated population of 293,741. factory and for general working capital purposes. Under the terms of the Loan, Tandem Capital will receive 370,000 warrants to purchase the Company's common stock at the current market price. Interest on the loan is 12 percent and the Loan is secured by a first lien on all of the Company's assets. Herm herm, in Greek art herm (hûrm), in 6th-century Greek art, vertical pillar surmounted by a bearded human head and often having a phallus below. These structures were considered sacred to Hermes. Rosenman, President and Chief Executive Officer stated, "This is another step in financing the future growth of the Company empowering us to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the significant opportunities available today. With expanded production, exciting new product offerings and the eventual move into a larger manufacturing facility, the Company will become a more significant player in the American heavyweight motorcycle market." Headquartered in Nashville, Tennessee, Tandem Capital provides growth capital to small, rapidly growing public companies with market capitalization's up to $100 million. Tandem typically invests between $2 million and $10 million per company in transactions structured as convertible debt, convertible preferred stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". or subordinated debentures with warrants. Tandem seeks to invest in companies that have a strong management team in place, a credible business plan and a requirement for capital to fund the next phase of growth. For more information on Tandem Capital, contact www.tandemcapital.com. Bikers Dream is a manufacturer and distributor of American-made heavyweight cruiser motorcycles. Corporate headquarters is located in Santa Ana, California Santa Ana is the most populous city in Orange County, California and is the county seat. It lies approximately 10 miles inland from the Pacific Ocean, on the largely seasonal Santa Ana River. , and manufacturing operations are located in Riverside, California. This press release contains forward-looking statements that involve risks and uncertainties, including but not limited to quarterly fluctuations in results, the management of growth, regulatory changes, and other risks detailed from time to time in the Company's Securities and Exchange Commission filings. Actual results may differ materially from such information set forth herein. In addition, the Company's growth is dependent upon, among other things: continuing high demand for cruiser motorcycles, the Company's ability to compete in a highly competitive market, the Company's ability to increase motorcycle production, the Company's ability to satisfy its substantial additional capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. , the Company's ability to hire and retain key employees, and the Company's relationships with its customers and vendors. There can be no assurance that the Company will be successful in addressing any of these risks or that its sales and earnings will grow in the future as a result of these risks or others. This release is available on the KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Worldwide Website at www.kcsa.com.
CONTACT: Herm Rosenman
(1-800) 927-4730
or
KCSA Worldwide, New York
Joseph A. Mansi/Leslie A. Schupak
(212) 896-1205/(212) 896-1207 (phones)
(212) 697-0910 (fax)
kcsa@aol.com (e-mail)
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