Boyd Wheels

[fa63]

Not to mention, they could have at least checked their grammar / spelling before putting this out there...

Rise demand -- guess they meant to say "Rise in demand" or "Rising demand"
Tourism is misspelled
What does "Market Segment by Men" mean?

Originally Posted by sparky33

I am not, but I wish them luck. They make nice wheels and are good to their customers.

This global market forecast seems a bit rosy.

[BdaGhisallo]

Originally Posted by fa63

Not to mention, they could have at least checked their grammar / spelling before putting this out there...

Rise demand -- guess they meant to say "Rise in demand" or "Rising demand"
Tourism is misspelled
What does "Market Segment by Men" mean?

Well, they did at least get "enviornmental" correct.

That's a tough one to get right.

[sokyroadie]

"Two International locations to cover three contenants" How about continents

[fa63]

Originally Posted by BdaGhisallo

Well, they did at least get "enviornmental" correct.

That's a tough one to get right.

[oldpotatoe]

Originally Posted by AngryScientist

Raising capital to pursue aggressive growth goals in the bicycle business is not a great idea right now IMO.

I don't know anything about running a business, but if I operated a small to medium sized biz, I would be doing just the opposite right now. Head down, focus on managing expenses and keeping the core business healthy.

I suppose ENVE did basically what BOYD is attempting to do?

I wish them luck!

Gotta agree...Wheelsouttaboxes Market VERY crowded with some really big players involved..Like Campagnolo, Fulcrum, Zipp, others.

Plus the bike market due to Post Covid is really slumping right now...

[oldpotatoe]

Originally Posted by fa63

Not to mention, they could have at least checked their grammar / spelling before putting this out there...

Rise demand -- guess they meant to say "Rise in demand" or "Rising demand"
Tourism is misspelled
What does "Market Segment by Men" mean?

Misspelled "Environmental" too..ooopsie. Not a good look...

[GregL]

I'm certainly not as knowledgeable as other forum posters, and I didn't sleep at a Holiday Inn Express last night. Even with those handicaps, I know that raising capital to pay off current obligations is a big red flag. Best wishes to Boyd, but I'll pass on this investment opportunity.

Greg

[2000m2]

Originally Posted by echappist

It gets better. On pg. 38 is this doozy of a statement re: dividend payments to shareholders of Munich Composite

If I'm not mistaken, "Munich Composites" refers to the recently established company, and it would appear that 1.34 M preferred A shares in Munich Composite were issued (none currently owned by Boyd), with the possibility of issuing another 0.96 M preferred A shares to reach the 2.3 M shares mentioned on pg. 38. If my calculations are correct, that's a dividend yield of 29% per annum, or about 10x what S&P 500 provides.

And it would appear from pp. 10-11 that quite a bit of the aim of the issuance of common shares in Boyd is for Boyd to purchase preferred A shares in Munich Composite (specifically, the 0.96 M preferred A shares that can be subsequently issued). Boyd's own statement on pg. 38 confirms as much re: effects of the dividend.

Who wants to be the schmuck who ponies up money to buy common shares, so that a good portion of it go toward dividend payment? Without both the onerous (pretty much Boyd's own words) dividend payment and what seems to be a move to benefit Boyd itself, I could see value of investing in common shares to gain market share. But what's contained in this disclosure really leads to some unpleasant implications.

Way too rich for my blood. If I had money to burn (subjunctive mood emphasized), I might consider loaning them money (say $7500 worth) with a warrant to convert the amount loaned into those sweet Class A shares in Munich Composite. Still risky, but not nearly as much buying common shares in Boyd Cycling.

Nice finds there. That is indeed some expensive money and multiple layers of ownership.

Originally Posted by November Dave

Only if you want to ensure your investment loses value. It would shock me if enough aluminum tubulars, globally, rim and disc, were sold between now and eternity to use up a minimum run of the extrusion.

Originally Posted by fogrider

This. I ran tubulars exclusively for 20 plus years. The problem is there is a lack of tire selection for tubulars and prices have gone through the roof. I've just bought 2 pairs of BTLOS wheels.

I prefer the carbon variety for tubulars. I use aluminum wheels for clinchers and poor weather.

Originally Posted by Haldy34

You don't need to be an investor to do that. They do still make rim brake tubulars. I'm rolling on a few pairs of them and as a Boyd dealer, I have built up several sets for my customers this year.

Good to know!

Originally Posted by prototoast

Off the top of my head, the only obvious OEM opportunity would be Time Bicycles, which are also producing out of South Carolina. But I don't know if they do enough volume to substantially improve Boyd's sales. Maybe Lynskey or Litespeed too? But also not clear what's stopping them from tapping that channel now.

TIME bicycles, if I'm not mistaken, is also associated with or was bought by Cardinal Cycling Group, Inc. Seeing how they are very much involved here financially, perhaps Boyd wheels will be making their way to complete TIME bicycles for sale in the near future? Agree on the volume though, I don't see a ton of TIMEs out there in the wild and I regularly ride a Scylon.

[gavingould]

the disclosures and SEC forms also note that the US-based instance of Munich Composites is to actually share manufacturing space with TIME.
But if it’s mentioned anywhere that they’re going to be an OEM for them, I didn’t see it.

still, the whole ploy is for us investors to buy common shares in Boyd and they use the proceeds from that to buy preferred shares in Munich to supplement their current 49% holding of common shares, get the dividend payout/better terms of payout in case of the hoped-for sale of Munich to some other entity.

[echappist]

Originally Posted by 2000m2

Nice finds there. That is indeed some expensive money and multiple layers of ownership.

Originally Posted by gavingould

the disclosures and SEC forms also note that the US-based instance of Munich Composites is to actually share manufacturing space with TIME.
But if it’s mentioned anywhere that they’re going to be an OEM for them, I didn’t see it.

still, the whole ploy is for us investors to buy common shares in Boyd and they use the proceeds from that to buy preferred shares in Munich to supplement their current 49% holding of common shares, get the dividend payout/better terms of payout in case of the hoped-for sale of Munich to some other entity.

Would the two of you say that the proposed structure sound a bit tiered, like say that of a ziggurat?

Here's a scheme of one

[Nomadmax]

I don't think I'll invest. But I will shop the fire sale, as long as the rims have hooks on them.

[mstateglfr]

Originally Posted by echappist

OThey are expecting almost a near tripling in company value in just two years. How do they foresee doing this?

[FriarQuade]

Originally Posted by weaponsgrade

I recall clothing company Kitsbow tried something like this. A few months (weeks?) later they shut down. It's gotta be a tough trying to compete with Asian brands like BTLOS.

Kitsbow did give crowdfunding a shot near the end. Problem was, the goal was so far short of what it needed to be to revive the company that it was never going to work. Once it all settled out, it was only going to fund ~2 months of expenses. I still think Kitsbow could have made it, IF they were willing to downsize. Seems like it would have been a great company for 5-10 people to work in, but they were just too big to serve the market they could capture.

Boyd's a good guy, he started into wheels about the same time I started making tools and we've run into each other at events at what not for years. This effort seems aggressive but I wish him well.

[mcteague]

Originally Posted by mstateglfr

Reminds me of “Nimona” where she describes her plan as “something, something, something…we win!”

Tim

[cgolvin]

Originally Posted by BdaGhisallo

Well, they did at least get "enviornmental" correct.

That's a tough one to get right.

And y'all missed "contenants".

But this is not news, most people can't spell, don't know grammar, don't use spell check, and copy editors are a dying breed. Even the venerated NYT is good for a copy edit mistake once a day. And if spelling and grammar errors you seek, you'll find them aplenty on Paceline!