The January 2nd hearing scheduled to review certain matters in the company’s Chapter 11 case was postponed until Thursday, January 9, 2003.

Bike President Paul Gross has been attempting to obtain more than $2 million in additional financing so the company’s reorganization plan may be amended to better suit the creditors needs.

The company is attempting to stave off a 363 asset sale approved by the court. An auction is currently scheduled for January 29, 2003 to liquidate Bike’s assets.
If Gross cannot secure the expected financing, the sale will proceed as planned.

The January 2nd hearing scheduled to review certain matters in the company’s Chapter 11 case was postponed until Thursday, January 9, 2003.

Bike President Paul Gross has been attempting to obtain more than $2 million in additional financing so the company’s reorganization plan may be amended to better suit the creditors needs.

The company is attempting to stave off a 363 asset sale approved by the court. An auction is currently scheduled for January 29, 2003 to liquidate Bike’s assets.

If Gross cannot secure the expected financing, the sale will proceed as planned.