Power Sports Factory Announces Its Participation in the National Bike Summit in Washington, DC
PHILADELPHIA, PA, Mar 12, 2010 (MARKETWIRE via COMTEX) -- Power Sports Factory, Inc. (OTCBB: PSPF), through its Bike Share Source Division, announces that it was an exhibitor this week at the National Bike Summit in Washington, DC.
Power Sports Factory participated at the National Bike Summit the same week new legislation was introduced in the House of Representatives that will create a $2 billion competitive grant program for communities to promote eco-friendly transportation options. The bill is now known officially as the Active Community Transportation Act of 2010. This new program would be administered by the US Department of Transportation.
'We believe that National Bike Summit is a perfect strategic opportunity to introduce our Bike Sharing Solution to municipalities and to the League of American Bicyclist,' said CEO Shawn Landgraf. He adds, 'Bike Share Source is uniquely positioned as the most cost effective bike share solution in the United States and boasts the most technologically solution for both large and small deployments.'
About Power Sports Factory, Inc.:
Philadelphia based Power Sports Factory, Inc., is wholly owned by Power Sports Factory, Inc. (OTCBB: PSPF). Power Sports Factory imports, markets and distributes motorbikes principally under the 'Benelli' brand. Additional information is available on the Power Sports Factory website at http://www.powersportsfactory.com and http://www.sec.gov. Power Sports Factory's motorbike line combines top performance, competitive pricing and cutting-edge European design from Benelli. Benelli is the designer of some of the best motorcycles and motorbikes in the world. The Benelli line is also known for its high-quality construction and superior styling making it the smart choice for consumers. With today's volatile price of fuel, motorbikes are a smart alternative for people looking for superb gas mileage.
BikeShareSource(TM) is the Company's alternative transportation division. This division markets Bike Sharing Systems to municipalities and transit agencies, property managers and real estate developers, colleges and universities, military institutions, hotels, parks and other transportation related businesses. Additional information is available on the BikeShareSource website at http://www.bikesharesource.com
The information contained in this news release, other than historical information, consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Factors that may cause actual results to differ materially from those expressed or implied by its forward-looking statements include, but are not limited to, Power Sports Factory's limited operating history and business development associated with being a growth stage company; its dependence on key personnel; its ability to execute its business strategy; the intense competition it faces; risks associated with disruptions of its international supply chain; its exposure to product liability claims resulting from the use of its products; general economic and capital market conditions; its ability to raise additional capital; as well as those risks described under the heading 'Risk Factors' of Power Sports Factory's Form 10-K, filed with the Securities and Exchange Commission on April 15, 2009. Although Power Sports Factory believes that the expectations reflected in such forward-looking statements are reasonable; it can give no assurance that such expectations will prove to have been correct.
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