Tuesday, October 26, 2010

Powersports Factory Avoids NHTSA and Screws Consumers

So today PSF managed to screw all the Yamati and Benelli owners in North America. Just another sign of what is happening in the US scooter market.

So if you need parts, MRP has them, if you need a gas tank for your defective X50 we can sell you one. No comment from Mario Andretti and Company who probably lost a couple of hundred thousand in worthless stock.

From todays SEC filling

Item 7.01.
Regulation FD Disclosure.
The Company is by letter advising its vendors, suppliers and shareholders that the Company has closed its business due to financial difficulties. The Company has sold the balance of its inventory and has distributed the proceeds to its secured lender. At this time, the Company does not anticipate that there will be any funds available to pay the Company’s unsecured creditors.

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