KANSAS CITY, Mo., Sept. 12, 2014 /PRNewswire/ -- APT MotoVox Group,
Inc. (OTC BB: MTVX) today announced the acquisition of MotoPed,
which debuted last December in a breakaway Kickstarter campaign
that quickly went viral. The MotoPed design (soon
available in Beach Cruiser, Downhill, and Black Ops Survival bike
models) is a radical new mash-up fusing the unique combination of a
downhill mountain bike, a motocross motorcycle, and a
moped. The MotoPed utilizes a patented jackshaft
pedal drive system and various lightweight low-displacement
engine packages in order to yield a 115
pound "Frankenbike" of sorts that gets up to
160 miles per gallon as a commuter, while letting its riders
slam a back-country trail on the way home.
"While working on a similar design to the MotoPed we were
introduced to the creators," said Wayne
Patterson, CEO of APT MotoVox Group. "Due to the
design, speed to market, a new product category and the value
of the growing momentum, MotoPeds became an obvious target for
acquisition. The fact that our patented SmartCarb technology
will push this product into a nearly 200 mile per
gallon ultra low emission commuters dream, made for an even
easier decision. Looking at the expanding commuter
and light transportation markets, we found a tremendous opportunity
to deliver next-generation hybrids that offer incredible styling,
heretofore unheard of flexibility, are green, and economical to
operate and maintain. Our new designs will open
new market opportunities such as the military, retail, and
municipalities," said Mr. Patterson
Chuck Carothers, a principal of
MotoPeds and an X Games Gold Medalist and ESPY Award nominee,
shared equal enthusiasm. "The acquisition by APT MotoVox was
timely because MotoPeds had become a victim of its own success; we
simply couldn't scale to keep up with the demand. Their team
of production and sourcing engineers removed the supply chain
bottlenecks, enabling MotoPeds to greatly improve production
lead-times and delivery schedules. In addition, Motopeds will
gain immediate distribution through APT MotoVox's US and
International dealer and retailer network," said Mr. Carothers.
The Company anticipates new revenues from MotoPed sales to
approach $1MM through the end of 2014, followed by an explosive
2015 where sales could exceed $5MM.
The Company will continue to update shareholders, investors, and
the riding community with additional developments on products,
orders, and special events related to MotoPeds. The company
is preparing for a full rebrand, including product updates and
redesigns to be unveiled in Q4.
For more product information, visit
http://www.motopeds.com/.
About APT MotoVox Group, Inc.:
APT MotoVox Group, Inc. Inc. (OTC BB: MTVX) is a Delaware registered corporation headquartered
in Kansas City and is the holding
company for the MotoVox® and MotoPed motorsport product lines,
SmartCarb® patented fuel system, and the Sonic Flow small engine
technology lines (http://www.motovox.com/,
http://www.powerapt.com/, and http://www.motopeds.com/).
Forward-Looking Statements
Some statements made in this press release are forward-looking
statements, which are made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. We use
words such as "anticipate," "believe," "expect,'' "future,"
"intend," "plan," and similar expressions to identify
forward-looking statements. These statements including those
related to the growth of the industry and the Company's
performance, are only predictions and are subject to certain risks,
uncertainties and assumptions. Additional risks are identified and
described in the Company's public filings with the Securities and
Exchange Commission. Statements made herein are as of the date of
this press release and should not be relied upon as of any
subsequent date. The Company's past performance is not necessarily
indicative of its future performance. The Company does not
undertake, and the Company specifically disclaims any obligation to
update any forward-looking statements to reflect occurrences,
developments, events, or circumstances after the date of such
statement.
Contact
William Maher, SVP
APT MotoVox Group, Inc.
InvRel@motovox.com
Paul Knopick
E & E Communications
940.262.3584
pknopick@eandecommunications.com
SOURCE APT MotoVox Group, Inc.