MBA Holdings, Inc. has been working to
restructure the company, to lessen the debt of our public company,
shed non-profitable companies, become profitable and thus increase
the stock value and trading volume, complete all of our audits and
restart the trading on the bulletin board in 2008.
The economy has not been good in most sectors,
home and auto sales have plummeted, high fuel prices, higher food
costs, unsettled job market and decreasing disposable income has not
help the motorcycle business including motorcycle rentals.
Harley-Davidson has announced fourth quarter U.S. sales down
14% and earnings down 26% and forecasts modest revenue growth in
2008. Perhaps the
additional interest rate
cut yesterday will stimulate most markets, including auto and home
sales.
One of the biggest MBA, Inc. problems is the
large amount of competition and decreased sales of vehicles and high
interest rates have hurt the extended auto warranty business, the
fact that the entire automobile market is in the slump, and the cost
of accounting and auditing the Mechanical Breakdown Administrators,
Inc. due to Sarbane’s Oxley.
The Board of Directors has voted to exchange
the shares of Mechanical Breakdown Administrators, Inc. subsidiary
for Three Hundred Thousand Dollars ($300,000.00) of Debt owed by MBA
Holdings, Inc. to an affiliate of the company’s largest shareholder.
This clears the path and will allow MBA Holdings, Inc. to
aggressively persue acquisitions to grow the company.
This transaction will significantly change the
cost of operation, including payroll, office expenses, audit and
accounting, long term liability and direction of the public company
and the remaining companies owned by MBA Holdings, Inc., The
National Motorcycle Dealers Association, Street Eagle Motorcycle
Rentals, Blue Sky Motorcycle Rentals, Rent 2 Ride Motorcycle Rentals
and WorldWide Motorcycle Rentals will be the remaining business in
MBA Holdings, Inc. These
changes will be effective January 31, 2008
Motorcycle News: We are very pleased to
announce the signing of our newest Licensee: Street Eagle Motorcycle
Rentals of Lincoln, California, which will open in
late February 2008 and several additional new stores in the
near future. We will be releasing detailed information about these
stores and we will be doing feature stories about these stores, and
their people in the near future.
Finally, Spring is just around the corner… and
our rentals stores are re-starting and gearing up their rental
operations for spring, the spring round of motorcycle shows are
beginning with the V-Twin Expo in Cincinnati this coming week and
the Indy Motorcycle show in late February,
Daytona Motorcycle Weeks and the motorcycle selling and
rental season will be on it’s way for 2008.
Sincerely,
Gaylen Brotherson
