Yes that is the way it was advertised
Scored an interesting little beast today. It is a 1966/67 Columbia Commuter II built by Mangneet in Weesp, Holland.
Doesn't really fold, but the saddle goes way down, the handle bars rotate inwards and down, the pedals can be turn inline with the crank arms, and the whole front wheel/fork/handle bar assembly comes off It has the cursed SA TCW III hub on it but WTH.
Anybody ever seen one of these before or have any other information on them? I did find a sales flyer on Ebay where a Mr Doughnut store was giving one away.
I will get more pictures up later this week.