Saturday, September 17, 2016

PAGE 7 - RESURRECTING RUPP

While working Montana, I received several calls from Mr. Joe Hrudka’s Attorney in which they were checking the progress of the stock sales and in the final call he required a $20,000 deposit to continue to hold the deal for me. The Fox Corporation, the party at Janesville, Wisconsin who already had the tooling, who made an offer for the parts inventory was putting pressure on.  The $20,000 would have given me a list of all the existing dealers throughout The United States.  I could not meet this demand.   In hindsight, I should have gone east instead of west.  I could have sold obsolete Rupp parts to Rupp Dealers from Rupp's inventory and issued them a stock certificate for the purchase price to bypassed The Securities and Exchange Commissions and also I could have worked individuals who offered to help.  I also should have dealt with Kohler about possible engines for the new Rupp instead of Kawasaki because there I may have gotten financial support because they had lost Mercury as an engine supplier and it was possible to have them as a partner.  One other thing, I should have searched out Mick Rupp for advice on any help he could have given me.  And should have left the new location open.
In 1980 all the assets and tooling of Rupp was sold by Joe Hrudka to The Fox Corporation at Janesville, Wisconsin
After giving up my pursuit of acquiring Rupp, I continued with my mail order snowmobile parts business and went on to expand Superior Sport Sales and later set up a store as SnoCat Shack and Sport Shack at Black Hawk, South Dakota where I served snowmobile owners of all makes with new and used parts and accessories.

Friday, September 16, 2016

PAGE 6 - RESURRECTING RUPP

Here is where the difficulty started. Legally, before any stocks could be sold,  I needed a clearance from The Federal  Securities and Exchange Commission and from every State’s Securities Commission which I was to sell these stocks in.  In most cases I was suppose to get legal representation from each state, which would then work up the clearance papers from there states Securities Commission. After many trips to Federal Securities and Exchange Commission at Denver, Colorado, I received a tentative clearance from The Federal Government as long as I could show clearances which I could present to them from each state. In communicating with many northern states, I acquired a pile of complicated forms and applications which in the most part were to be completed by attorneys and be submitted along with the required bonds.  The only state that was more lenient was The State of Montana in which I could do the paperwork by myself.  Here snowmobiles and the Rupp line was fairly week, however I traveled to Montana to search out Rupp Dealers and Rupp Owners. I discovered that any investors were reluctant to invest any money until I had sold more stock.  I found one investor who was interested in purchasing a large number of shares with the idea that he would become an officer within the corporation  He even traveled to Rapid City to look over the proposed facilities, but after returning he had a change of heart.

Thursday, September 15, 2016

PAGE 5 - RESURRECTING RUPP

After leaving Cleveland, Ohio we stopped at Grand Rapids, Michigan where we spoke to a representative of Kawasaki motors about the possibility of using The Kawasaki engine in The New Rupp snowmobiles and also stopped at Chicago, Illinois where we visited with a representative of Yokohoma Rubber company about using their tracks on The Rupp snowmobile.  We then travelled to Janesville Wisconsin to look over the tooling and then on to Rapid City, South Dakota where I negotiated a lease and the cost of remodeling to suit the needs of a manufacturing plant. This was a vacant manufacturing building and grounds that was to house the new company. While in Rapid City, I also visited with a few stock brokers about selling The Superior Sport Sales shares and stock certificates.
Superior Sport Sales was incorporated under the laws of The State of Colorado and interested officers were elected as required.  It was decided to sell 1,400,000 shares of stock at $1.00 per share . I had that many stock certificates printed and also had a supply of prospectus circulars printed.  It outlined the history of the company, the type of business, the description of the securities offered,  the use of monies collected, the officers of the corporation,  marketing of shares and other requirements as dictated by The Securities and Exchange Commission. It was also decided that if we failed and was unable to acquire Rupp that Superior Sport Sales was to be expanded into an aftermarket parts house for all snowmobiles and the parts to be branded with our label which was to be SnoCat Shack.