Inventory, Personal Property, Trademark and Website of LLC

The Trustee proposes to sell (a)  All of the Debtor's inventory and related personal property located at its former facility at 2780 Via Orange Way, Spring Valley, CA; and (b) The Debtor's right, title and interest, if any, in: (i) the BikeBandit trademark; (ii) the BikeBandit.com URL/Domain and all of the Debtor's rights associated with registration thereof; and (iii) all other computer files and data associated with the BikeBandit.com website.  The sale is subject to overbids.

The proposed buyer has waived all contingencies and provided the Trustee with a deposit equal to the full purchase price. The Property is being sold on an "as is, where is" basis, with no warranties or representations of any kind. Below are the proposed overbid sale procedures: 

1.            Pre-Bid Diligence

Prospective bidders may contact the Trustee to obtain information regarding the Assets and to make an appointment to inspect the Assets.  The Trustee's email address is [email protected] and his phone number is (619) 255-1529.   

2.            Overbid Deadline

Any party wishing to bid on the Assets shall submit a bid in accordance with these procedures no later than 5:00 p.m., prevailing Pacific Time, on June 27, 2022 (the "Overbid Deadline").  In his sole and absolute discretion, the Trustee shall have the right to accept additional overbids submitted prior to the sale hearing but after the Overbid Deadline.

3.            Minimum Initial Overbid

The minimum initial overbid shall be $435,000.00 (the "Minimum Overbid").

4.            Overbid Requirements 

Any party wishing to submit an overbid for the Assets must deliver the following three items to the Trustee (with a copy to the Trustee's counsel) by no later than the Overbid Deadline: 

(a)          A wire transfer or cashier's check, payable to "Christopher R. Barclay, Chapter 7 Trustee," in the amount of $410,000.00 to serve as a deposit towards the total purchase price (the "Deposit").

(b)          An executed copy of a definitive purchase and sale agreement in substantially the form attached as Exhibit B to the Declaration of Christopher R. Barclay (the "Overbid PSA").  The Trustee will provide all prospective overbidders with an electronic copy of the form Overbid PSA upon reasonable request.  In the event an overbidder makes any changes to the form Overbid PSA, that overbidder must also provide a separate version of its agreement redlined or otherwise marked to show any and all such changes.

(c)           Evidence of the proposed buyer's financial ability to pay the full amount of the overbid.  

The overbid may be delivered to the Trustee via email at [email protected] or to the following address:  Christopher R. Barclay, P.O. Box 2819, La Mesa, CA 91943-2819.  Contact information for the Trustee's counsel is listed on page one of the sale motion papers and notice of hearing.