Trixter is an enterprise investment scheme (EIS) investing in its range of exercise bikes that simulate the experience of riding outdoors on mountain bikes using technology.
The company intends to market its products, for which it is seeking patents, to the retail and commercial sectors. This would enable people to use them in the gym or at home. In particular, Trixter intends to promote its first product, X-Bike, and develop two new products - X-Bike Interactive and XTRieM.
X-Bike was unveiled at an international trade fair in the US earlier this year. The bike is a mechanical exercise bike with handlebars that replicate the upper body movement mountain bikers use when sprinting and riding up hills.
X-Bike Interactive is a development of the X-Bike concept, which uses sensors, a display and audio functions that ensure the workout is adjusted to suit the individual user's performance. XTRieM takes the interactive element a stage further as it is a virtual mountain bike which uses computer and video software to recreate the conditions of real cross-country mountain biking.
Trixter aims to build a brand name and has already entered into manufacturing and distribution agreements with third parties. In November 2002, it secured an agreement with Giant Bicycles as the main manufacturers and distributors of the bikes and discussions are currently taking place with other companies for licensing agreements. On the technology side, a company called Alfadata will develop and manufacture the electronics Trixter needs.
However, the success of Trixter's products from an investment viewpoint depends on demand for the bikes, being in touch with technological advances and keeping competitors such as Reebok and Exertris at bay. This makes the EIS suitable only for investors who are prepared for higher than average risks.