That is the next thing on the list as the bolt is temporary, I don't want to carry a spanner around with me to fold the bike and that bolt is too long. I have a couple of ideas including seeing what is available at the plumbers merchants.
Dont be too hard on these bikes. I had my first go on the bike today, just up and down the road but I was pleasntly surprised by how good it was, not nearly as much flex as I was expecting and its quick. Currently weighs 9.5 kg and folds into a neat compact package. Not the same quality as a modern folder but this is still a very usable bike.
i'm currently in your garage.. taking liberties... :O
