Patriot (PMCY.PK),
Patriot's mission is "to be the first to build brand
identity, market, sell and service a high-quality Chinese-manufactured
line of off-road motorcycles, all-terrain vehicles, watercraft
and other motorized products." Beyond dirt bikes and
ATV’s, the Company's other products, such as street
bikes, personal watercraft, powerboats, marine engines,
power generators and specialty clothing, are in various
stages of development. These new products will be built
in China and give the Company a significant cost advantage.
All of Patriot's bikes and ATV’s are accompanied by
a guarantee of up to five (5) years, which the Company sees
as a testament to the quality and growing acceptance of
its products amongst U.S. consumers.
While the dirt bike and ATV markets are
well established in the
United States and many foreign countries, Patriot intends
to enlarge the size of these markets by attracting new,
first-time buyers -- youths, women, families and seniors
-- by offering affordable pricing on quality products. As
Patriot expands into other large and well-established markets,
such as personal watercraft, powerboats and street bikes,
the Company believes it can attract sales from competitors
and increase the overall size of these markets by introducing
consumers to less-expensive recreational products.
Yamoto by Patriot,
At the present time, over 430 U.S. dealers sell
Patriot dirt bikes and ATV's and are in various
stages of becoming authorized Patriot dealers. At
the current pace of new dealer applications, the
Company believes that it will have a network of
600 authorized dealers by the end of fiscal 2005.
Its goal is to have 1,500 dealers by the end of
fiscal 2006 and 2,500 by the end of fiscal 2007.
Because of Patriot's quality, reliability, affordability
and significantly higher margins for authorized
dealers, established motorcycle dealers are receptive
to carrying Patriot's line.
Patriot has assembled a senior management team that
includes veterans of the motorcycle industry, INDY
car racing, public and investor relations, sales
and marketing and accounting and finance. Patriot's
CEO, Michel Attias, brings to the Company 23 years
of experience with Chinese manufacturers, which
has been an important factor behind the strategic
direction of Patriot and its reliance on lower-cost
Chinese production systems.