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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Commission File Number: 000-24779
V-TWIN ACQUISITIONS, INC.
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(Exact name of Registrant as specified in its charter)
District of Columbia 52-2110338
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
1707 H St. N.W. #200
Washington, DC 20006
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(Address of principal executive offices) (Zip Code)
(703) 437-9886
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(Issuer's telephone number)
Check whether the Issuer (1) filed all report required to be file by Section 13
or 15(d) of the Exchange Act during the past 12 months (or for such shorter
period that the Registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days.
(1) x YES NO
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(2) x YES NO
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ITEM 5. OTHER EVENTS
V-Twin Acquisitions, Inc. has qualified, with certain provisions and on a
preliminary basis, for floor plan financing arrangements in excess of
$1,500,000 with selected finance companies representing four different
manufacturers of motorcycles whose vehicles are for sale in V-Twin's first
proposed asset bulk sale purchase, Cycle Sport Unlimited, Inc., of Herndon and
Springfield, Virginia.
Floor plan financing allows for a motorcycle dealership to carry numerous
motorcycles in their showroom, so that the motorcycles are readily available
for sale. Typically, a motorcycle dealership pays interest on unsold
motorcycles.
These floor plan lines have additionally been personally guaranteed by the
President of the Company, Mr. Schwartzbeck, and by the Secretary of the
Company, Mr. Pignatello.
V-Twin now awaits the franchise transfer and approval from the four
manufacturers prior to finalizing its Bulk Sale Agreement with Cycle Sport
Unlimited, Inc.
V-Twin Acquisitions also has available the $400,000 funding amount necessary to
effectuate the closing of the Cycle Sport Unlimited asset bulk sale purchase.
These funds consist of loans made to the Company from four investors for the
specific purpose of closing the Cycle Sport transaction and to provide for
additional operating capital. These funds may also be expended to cover letters
of credit required by the floor plan financing companies.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
V-Twin Acquisitions, Inc.
March 24, 1999 /s/ Ted L. Schwartzbeck
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Ted L. Schwartzbeck
President
/s/ A. Jay Pignatello
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A. Jay Pignatello
Secretary
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