I have one, and I did a little research on it. Here's what I found.

It was offered as a premium for smokers of Marlboro cigarettes. You had to pony up $110 cash and 2200 points in Marlboro Miles to get one. To put that in perspective, a pack was worth 5 miles, so what, half a lung?

It is a most interesting design. The seatpost is what keeps the bike together in the rigid state. Remove the seatpost, and now you can unfold. And you need the seatpost to make it rigid again. There is also a quick-release on the handlebars so you can turn the bars in line/parallel with the frame. Neat.

Parts are mostly low-rent, early Shimano 15-speed, but that doesn't stop enterprising folks from doing drop-bar conversions, STI shifters, etc. Search this forum for details.

I think it's the best bang-for-your-buck folder on the cheap. It's not a lightweight, but is definitely serviceable.

One thought. If you ever need to lock the bike up in a public area, take the saddle and seatpost with you. Since it can't be ridden without one, this might discourage theft.