Published:
MBAH Announces New Nationwide Rental Operations
MBA Holdings, Inc. (OTC BB: MBAH) and its
subsidiary companies; The National Motorcycle Dealers Association, Blue Sky
Motorcycle Rentals, Street Eagle, Rent2Ride and WorldWide Motorcycle
Rentals announce new store openings in Chicago, Illinois, Philadelphia,
Pennsylvania and St. Petersburg, Florida. Numerous operations in other
States including Texas and North Carolina are committed to open in the next
few months. Several more operations are in the process of remodeling and
expanding their stores to accommodate their new rental businesses and are
expected to be open upon build-out completion. MBAH will announce these
when complete.
Blue Sky Motorcycle Rentals, Inc. Founder Wayne (Lumpy) Ordakowski reports
an increase in the number of powersport rental units in company owned
stores to over 80. Presently there are 49 pieces of rental equipment in
Denver, Colorado, 21 in Las Vegas, Nevada, and will be increased to 31 in
August, and 11 in Phoenix, Arizona, that will be increased in September and
October. For this Autumn/Winter season, Blue Sky will transfer the Denver
rental fleet and key personnel to the company owned stores in Las Vegas and
Phoenix.
Over the past months, MBAH has performed several cost cutting measures.
The MBA Companies have consolidating their office space requirements and
will now move into Suite #106 from Suite #105. MBAH and its subsidiary
companies will move all operations into 2,550 sq. ft. on the 1st floor and
occupy the entire 2nd floor (approximately 5,100 sq. ft). The 2nd floor
includes all executive offices and MBA's complete phone and computer
operations. Cactus Family Investments has listed the now available 10,200
sq. ft. free space formerly occupied by MBAH for lease. MBA has occupied
Suite #106 since 1984. This move will decrease the company expenses by
approximately $250,000 per year. The move is expected to be completed by
August 1, 2005.
MBAH CEO Gaylen Brotherson commented, "I would like to thank the Company's
loyal Shareholders and I wish to encourage and assure them that we are
continuing to work towards profitability and in their best interest. We
appreciate the encouraging e-mails and phone calls of support. In keeping
with the Auto Manufacturers Special Discounts and Employee Level Pricing
going on right now, I'd like to announce a special pricing program for all
Shareholders, family and friends of MBAH. We will offer special pricing on
an extended warranty for your auto, motorcycle or recreational vehicle.
Simply call (800) 669-0606, extension # 6 and tell them Gaylen sent you!
MBAH Chairman Gaylen Brotherson continued, "I am working on a proposal to
present to the MBAH Board of Directors on a share repurchase plan of the
Company's common stock. In the proposal, the Company, from time to time
and as funds become available, will purchase through the open market and in
privately negotiated transactions, portions of common stock of MBAH as the
proposal allows. We believe that based on current market prices, our stock
is undervalued and that it is in the best interest of our Shareholders for
us to acquire shares in the open market."
"Safe Harbor" statement under the Private Securities Litigation Reform Act
of 1995: Except for the historical information contained herein, the
matters discussed in this press release are forward-looking statements that
involve risks and uncertainties, including but not limited to business
conditions and the amount of growth in the insurance or associated
automotive industries and general economy, competitive factors, and other
risks detailed from time to time in the company's SEC reports, including
but not limited to its annual report on Form 10-K and its quarterly reports
on Forms 10-Q. The company does not undertake any obligation to update
forward-looking statements.
MBA Holdings
http://www.mbadirect.com
NMDA
http://www.nationalmda.com
Blue Sky Motorcycle Rentals, Inc.
http://www.blueskymotorcyclerentals.com
Rent2Ride Nationwide
http://www.rent2ride.com
Street Eagle Motorcycle Rentals, Inc.
http://www.streeteagle.com
WorldWide Motorcycle Rentals
http://www.worldwidemotorcyclerentals.com
Distributed by Market Wire
Copyright © 2008, MarketWire
Copyright © 2008, NewsBlaze,
Daily News
Tags: ,FinancialServices:Insurance, ,AZ,SCOTTSDALE, AZ
_ _Is your favorite bookmark site missing?
Ask for it.