French Peak Resources changes name to Confederate Motor Company, goes public

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Confederate_Wraith_parts.jpgEffective February 12, 2009, French Peak Resources changed its name to Confederate Motor Company and took its stock public. At the same time, Matt Chambers, Confederate’s founder, replaced Ruth Shepley as the company’s CEO. Formerly the owner of a quick printing company, a full service hair salon and a video dating company, the 64-year-old Shepley presided over French Peak as Sole Director, CEO, CFO and secretary from October 7, 2008 until last week. During that time, French Peak enjoyed a net income for 2008 of $129,800, a considerable improvement over it’s 2007 net loss of $450,100. From what we understand, this new Confederate Motor Company will continue to be based in either Delaware or New York, NY. We’re not sure.
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Operating under the new name, Confederate Motor Company will “assume
and operate Confederate’s hand-crafted motorcycle business as its sole
business” presumably dropping French Peak Resource’s goal of “locating
and developing copper exploration properties in British Columbia.”
There are currently 4.9 million shares in Confederate Motor Company
outstanding at a value of $4.75 a share, giving the company an
estimated market cap of $23.3 million.

via Confederate, Real Pennies, Edgar Online

  • Dr.Danger

    High-risk OTC stock, sounds fishy.

    Also looks like they are listed at $7.3 million for their market cap and sitting at 1.5/share.

    Good luck to them. Their bikes still look funny to me.

  • Larry Kahn

    How many shares do you have to buy to get them to throw in a bike?

  • thomashenny

    I like the name French Peak Resources better for a motorcycle company than Confederate, which is not very creative or original. About the picture, is there any way for someone to just get all the main parts of the bike except the motor? The Wraith is genius but my perfect bike would be the Wraith with a shaft-driven engine.

    • geonerd

      i like the name confederate. it does have some unflattering connotations, but i think that might be part of the idea.

      wikipedia defines confederacy as “A group of individuals assembled for some nefarious purpose.” I like it.

      • thomashenny

        By nefarious purpose, you mean lynching and the KKK?

  • monkeyfumi

    Love the photo, it looks like a giant airfix model.

  • bongo

    Delaware? Canadian Mining? 23 Million?
    + global recession = money washing.

  • Zeitgeist

    Isn’t Confederate in Alabama?

  • Markus

    Aaahhh Hahahahahahahahaha!