The mini velo is a normal sized bicycle with 20" wheels popular in Japan and Asia. Here they are derivisively viewed as "circus bikes" - curios fit for clowns and children. But a small wheeled bike is as fast as a large wheel bike and the size allows it to be stored in places were its awkward or difficult to fit in a standard bike.
The Qualifier was made only one year in the late 80s as part of a short-lived fad for parking lot races, which never caught on. A shame because its really a nice, light and fast bike for the 406 mm size.