Bad Toys Agrees to Buy Gambler Motorcycles

Announced today, Bad Toys Holdings, Inc. , the maker of custom V-Twin motorcycles and street rods, has signed an agreement to acquire Gamble...

Announced today, Bad Toys Holdings, Inc., the maker of custom V-Twin motorcycles and street rods, has signed an agreement to acquire Gambler Motorcycle Company, Inc. The acquisition is expected to be completed in January 2005.

Gambler is expected to begin producing parts for Bad Toys and American Eagle product lines.

Source: Yahoo News.


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    On August 9th, 2004, Bad Toys Holdings and its CEO Larry N. Lunan had announced (Business Wire) that it had purchased majority share interest in American Eagle Manufacturing Company, Inc. The Purchase price was to be an aggregate of $4,250,000 in stock, cash and promissory note. The cash amount was to be $3,000,000

    The facts:

    • Larry Lunan and Bad Toys to date has only paid $250,000 dollars to the exiting majority shareholder of which Lunan had to burrow the funds from an investor. Lunan had expressed to the exiting shareholder that he needed to have control of the entity before he could secure the rest of the funds needed to complete the transaction. No other monies have ever been paid.
    • Lunan never paid back any promissory notes and or loans due on behalf of the company.
    • Lunan had claimed that he was in the process of securing $12,000,000 from Cornell Capital Partners to help facilitate the expansion of the company. This never happened.
    • Lunan has not paid any rent owed on the American Eagle Facility. Amount now owed is over $300,000
    • The Company has lost all credibility with vendors due to unpaid invoices.
    • Lunan has not paid any Workman’s Comp Insurance with the State of California since taking control.
    • Lunan has never paid any Federal withholding taxes, since taking control of American Eagle, even though the deductions were taken from the employees checks.
    • Lunan did not give employees a final year-end W-2.
    • Lunan refused to pay any Heath Insurance or partial for employees.
    • Lunan had claimed in his Press Release that Bad Toys, Inc. would commence shipping of American Eagle 2004 models in early August of 2004. Lunan has never built a single motorcycle under his control. There has never been enough capital to purchase parts.
    • The actual Manufactures License for American Eagle is currently inactive.
    • Lunan has fired several employees with or without notice or fulfilling the employee contracts. There are currently lawsuits being filled by ex-employees of American Eagle against Bad Toys Holdings regarding their employee contracts and un-paid wages.
    • Lunan has issued over five and half million (5,500,000) shares of S-8 stock to for immediate sale.



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