A year after James Khatiblou, owner of Onyx Motorbikes He died suddenly.leaving customers with unfulfilled orders and millions in unpaid debt; The brand was revived by its original founder.
“I'm excited to announce the revival of my original brand Onyx with incredible backers.” founder Tim Seward wrote in the letter. LinkedIn post Monday. “Onyx is literally back to the future right now.”
The company is selling only about 100 electric RCRs to begin with. It is unclear if these are newly manufactured units or if they are part of a batch of e-bikes that Onyx's Chinese supplier made earlier this year.
Seward did not respond to TechCrunch in time to provide information about the company's resurrection and the investors who backed the company.
Seward, who designed e-bikes for Bird and Ubco, created the first Onyx e-bike RCR in 2016. Two years after launching the company with an Indiegogo campaign, the design has gained a cult following. A following of customers who love the Made in USA feel. The alluring 1980s design and the bike's powerful performance, complete with a wooden body.
In 2019, Seward surrendered his stake in Onyx to his friend and former colleague Khatiblou, who had stumbled upon it as a first-time owner while trying to expand the company. Many of the decisions he made created a website that has yet to be tangled up in legal and financial issues. Khatiblou did not want to because of a complication that halted all operations, including customer deliveries and payments to suppliers and creditors. He died without a succession plan.
Oxygen Funding; The Orange County-based creditor claims he is owed $2.2 million. In May, Oxygen acquired control of Onyx's remaining assets; In order to repay those assets, he sought to file an appeal in Los Angeles County Court to become executor of Khatiblou's estate.
Oxygen CEO Adam Lomax told TechCrunch on Tuesday that he was unaware of Onyx's revival under Seward. Oxygen's petition for control of Khatiblou's estate remains vacant; He also noted that his company has yet to be reimbursed, pending an unspecified court date.
Oxygen isn't the only creditor fighting for a piece of Onyx. Under the 2019 Operating Agreement, Kenneth Ames, a Former engineer and resource executive Simi Valley-based LED lighting business and Troy Smith, a Personal accountant It holds a 37.5% interest in Carlsbad-based Onyx LLC. Onyx LLC is also the entity that owns Onyx's brand under a trademark agreement.
It's unclear whether Ames and Smith are involved in Onyx's revival. TechCrunch reached out to Ames to learn more. Contact Troy and their advice. TechCrunch will update the article if they respond.