Document:

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                                                                   EXHIBIT 10.56

                            STOCK PURCHASE AGREEMENT

     Stock Purchase Agreement, made and entered into as of February 4, 2000 (the
"Agreement"), between Easyriders, Inc., a Delaware corporation (the "Company")
and Joseph Teresi (the "Investor").

     WHEREAS, the Company desires to sell, and the Investor desires to purchase,
subject to the terms and conditions of this Agreement, shares of the Company's
common stock, par value $.001 per share (the "Common Stock");

     NOW, THEREFORE, for good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, the Company and the Investor agree as
follows:

     SECTION I. AUTHORIZATION; SALE AND PURCHASE OF THE COMPANY'S SECURITIES;
                CLOSING.

          I.1 Sale and Purchase of Common Stock. Subject to the terms and
conditions hereof, the Company agrees to sell to the Investor and the Investor
agrees to purchase from the Company on the Closing Date, a number of shares of
Common Stock (the "Shares") determined by dividing $250,000 by 75% of the
Average Closing Price of the Common Stock (as hereinafter defined) for an
aggregate cash purchase price of $250,000. The Average Closing Price of the
Common Stock shall mean the average of the daily Closing Prices (as hereinafter
defined) of the Common Stock on the ten consecutive trading days ending on and
including February 4, 2000. The Closing Price shall mean the last recorded sale
price of the Common Stock or, if no such reported sale takes place on such day,
the average of the reported closing bid and asked price of the Common Stock, as
reported on the American Stock Exchange.

          I.2 Closing. The closing of the transaction contemplated by this
Agreement (the "Closing") shall take place at 5:00 p.m., Pacific Standard time,
on February 4, 2000 (the "Closing Date") or at such other time or day as may be
mutually acceptable to the Investor and the Company.

          I.3 Delivery; Payment. At the Closing, the Company will deliver to the
Investor a certificate, dated the Closing Date, representing the Shares
purchased by the Investor, registered in his name as stated herein (or in the
name of his nominee) against payment to the Company of the purchase price of the
Shares being purchased by the Investor, which payment shall be made in cash.

          I.4 Registration Rights. After the Closing Date, the parties hereto
will negotiate in good faith the terms and conditions upon which the Company
will grant the Investor "shelf" and "piggyback" registration rights.
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     SECTION II. INVESTMENT REPRESENTATIONS.

          The Investor represents that:

          II.1 Investment Intent.

               (a) The Shares being acquired by the Investor are being acquired
for investment for the Investor's own account and not with the view to, or for
resale in connection with, any distribution or public offering thereof. The
Investor understands that the Shares have not been registered under the
Securities Act of 1933, as amended (the "Securities Act"), or any state
securities laws by reason of their contemplated issuance in transactions exempt
from the registration requirements of the Securities Act pursuant to Section
4(2) thereof and applicable state securities laws, and that the reliance of the
Company and others upon these exemptions is predicated in part upon this
representation by the Investor. The Investor further understands that the Shares
may not be transferred or resold without (i) registration under the Securities
Act and any applicable state securities laws, or (ii) an exemption from the
requirements of the Securities Act and applicable state securities laws.

               (b) The Shares are only transferable pursuant to (a) a public
offering registered under the Securities Act or (b) pursuant to an exemption
from the registration requirements of the Securities Act and applicable state
securities or blue sky laws.

               (c) Each certificate representing Shares shall be endorsed with
the following legend:

     THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED WITH THE
     SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT OF 1933, AS
     AMENDED, OR WITH THE SECURITIES COMMISSION OF ANY STATE UNDER ANY
     APPLICABLE STATE SECURITIES OR BLUE SKY LAWS AND MAY NOT BE SOLD OR
     OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION
     STATEMENT OR IN A TRANSACTION EXEMPT FROM THE REGISTRATION REQUIREMENTS OF
     THOSE SECURITIES LAWS.

          II.2 Qualification, Etc. The Investor acknowledges that the Company
has made available to the Investor at a reasonable time prior to the execution
of this Agreement the opportunity to ask questions and receive answers
concerning the terms and conditions of the sale of securities contemplated by
this Agreement and to obtain any additional information (which the Company
possesses or can acquire without unreasonable effort or expense) as may be
necessary to verify the accuracy of information furnished to such Investor. Such
Investor (a) is able to bear the loss of his entire investment in the Shares,
and (b) has such knowledge and experience in financial and business matters that
he is capable of evaluating the merits and risks of the investment to be made by
it pursuant to this Agreement.

                                       2
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          II.3 Accredited Investor. The Investor is an "accredited investor"
within the meaning of Rule 501 promulgated under the Securities Act.

     SECTION III. FAIRNESS OPINION

          As a condition to the purchase and sale of the Shares, the Company
shall rely on a recent opinion from an investment banking firm that the
transactions contemplated hereby are fair to the Company and the stockholders of
the Company from a financial point of view.

     SECTION IV.  MISCELLANEOUS.

          IV.1 Amendments; Waiver and Consents. This Agreement may be amended or
modified, and the obligations of the Company and the Investor may be waived only
by the written consent of the Company and Investor. Any waiver or consent may be
given subject to satisfaction of conditions stated therein and any waiver or
consent shall be effective only in the specific instance and for the specific
purpose for which given.

          IV.2 Assignment. This Agreement may not be assigned by either party
hereto.

          IV.3 Severability. Whenever possible, each provision of this Agreement
will be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be prohibited by or
invalid under applicable law, such provision will be ineffective only to the
extent of such prohibition or invalidity, without invalidating the remainder of
such provision or the remaining provisions of this Agreement.

          IV.4 Entire Agreement. This Agreement contains the entire agreement
between the parties and supersedes any prior understandings, agreements or
representations by or between the parties, written or oral, which may have
related to the subject matter hereof in any way.

          IV.5 Governing Law. The internal law, without regard to conflicts of
laws principles, of the State of California shall govern all questions
concerning the construction, validity and interpretation of this Agreement and
the performance of the obligations imposed by this Agreement.

          IV.6 Counterparts. This Agreement may be executed concurrently in two
or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument.

                                       3
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IN WITNESS WHEREOF, the Company and the Investor has caused this Agreement to be
executed by its duly authorized representative.

                              EASYRIDERS, INC.

                              By:  /s/  J. Robert Fabregas
                                   -----------------------
                                   Name:  J. Robert Fabregas
                                   Title: Chief Financial Officer

                              Investor:  /s/ Joseph Teresi

                              Joseph Teresi

                                       4<PAGE>

                                                                   EXHIBIT 10.57

                                 JOSEPH TERESI
               2400 Laguna Drive, Fort Lauderdale, Florida 33316

April 3, 2000

Board of Directors
Easyriders, Inc.
Attention:    John Martin
              Chairman
567 San Nicholas, Suite 400
Newport Beach, CA  92666

Gentlemen:

This letter sets forth my proposal for resolution of the issues raised in my
letter to the Board of Directors dated February 16, 2000.

1.     Recitals.  This proposal is based on the following material facts:
       --------

       1.1  Easyriders, Inc. ("Easyriders" or the "Company") is presently
obligated to me (hereinafter, "JT") under three (3) promissory notes.  These
notes (collectively, the "Contributor Notes"), and the amounts due April 1, 2000
for delinquent interest, are itemized as follows:

<TABLE>
<CAPTION>
Note                                      Principal              Maturity          Past Due Interest
----                                      ---------              --------          -----------------
<S>                                 <C>                     <C>                   <C>
Short Term Subordinated                   $3,000,000               3-31-00             $  456,497
Note - 10%

Subordinated Note 7%                       3,575,000               9-23-03                335,875

Mirror Note 7%                             5,000,000               9-23-03                482,676

Total Delinquent Interest                                                              $1,275,048
</TABLE>

       1.2  JT is the owner of commercial property known as 28210-28216 Dorothy
Drive (the "Premises"). The Premises are occupied by the Company and its
subsidiary, Paisano Publications, Inc. ("Paisano") pursuant to two leases
executed by Paisano as Tenant, and JT as Landlord (the "HQ Leases"). Past due
rent under the HQ Leases as of April 1, 2000 amounts to $273,862 (the "HQ Past
Due Rent"). Paisano also owes JT the sum of $10,815 as the last installment of
rent due pursuant to the lease between Paisano and JT for the Easyriders of
Daytona Store, the assets of which have been sold to an unrelated third party.
Paisano has been relieved of all liability under this lease, except for payment
of this delinquent sum (the "Daytona Past Due Rent"). For purposes of this
proposal, the HQ Past Due Rent and the Daytona Past Due Rent, which amount to
$284,677 in the aggregate, are collectively referred to as the "Past Due Rent."

       1.3  As of April 1, 2000 the Company and/or Paisano owes JT the sum of
$130,402 as reimbursement for legal fees incurred by JT in connection with
matters pertaining to the Company and/or Paisano.
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       1.4  Exhibit A, attached hereto and by this reference made a part hereof,
sets forth the terms of a proposed acquisition by JT of the assets of Easyriders
of Columbus, Inc., a subsidiary of Easyriders, and owner of the retail store
known as Easyriders of Columbus (the "Columbus Transaction").

       1.5  Exhibit B, attached hereto and by this reference made a part hereof,
sets forth the terms of a proposed Licensing and Inventory Credit Agreement
concerning the business of Paisano known as "Events" (the "Events Transaction").

       1.6  The Company's subsidiary, M&B Restaurants, L.C. dba El Paso Bar-B-
Que Company ("El Paso") is presently in the process of attempting to sell its
restaurant in Glendale, Arizona (the "Glendale Store").

       1.7  In connection with the Paisano Acquisition, JT entered into a
contract with Paisano (the "Consulting Agreement"), pursuant to which JT agreed
to provide certain consulting services to Paisano in addition to the services
required to be performed by JT under his employment agreement with Paisano.  The
Consulting Agreement is for an indefinite term, in the discretion of the Board
of Directors.  Effective June 1, 1999 JT assigned his obligations and rights
under the Consulting Agreement to Teresi Publications, Inc., a Delaware
corporation ("TPI"). In exchange for the services performed under the Consulting
Agreement, JT (or his assignee) became entitled to receive monthly payments of
$5,000 per month for October, November and December, 1998, $7,500 for January,
1999, increasing by $2,500 per month for each month thereafter through July,
1999, and $25,000 per month commencing August, 1999 and thereafter for so long
as the Consulting Agreement is in effect.  All required payments through May,
1999, in the aggregate sum of $97,500 were timely paid.  None of the payments
required to be made, i.e. $22,500 in July, 1999, and $25,000 per month
thereafter, have been made, as a consequence of which Paisano as of April 1,
2000 owes TPI the aggregate sum of $247,500.

2.  Specific Proposals.  JT hereby proposes the following:
    ------------------

       2.1    Short Term Subordinated Note.
              ----------------------------

              (a) It is agreed that the maturity date of the Short Term
       Subordinated Note shall be changed from March 31, 2000 to March 31, 2002.

              (b) It is agreed that Easyriders shall have no obligation to pay
       interest on the Short Term Subordinated Note through and until March 31,
       2001, at which time all interest then accrued but unpaid shall become due
       and payable.

       2.2  Non-Interest Payables.
            ---------------------

            (a) The total due to JT (and/or TPI) for Past Due Rents,
       reimbursement of expenses as described in section 1.3, and consulting
       fees as described in section 1.7 (collectively, "Non-Interest Payables")
       amounts to $662,579.

            (b) The Columbus Transaction is approved, as a consequence of which
       it is hereby agreed that in exchange for conveyance to JT of the assets
       described therein, the total due for Non-Interest Payables shall be
       reduced by the sum of $565,840, to $96,739.00, provided that such
       calculations are subject to change prior to closing of the Columbus
       Transaction, and shall be accounted for by the adjustment provided for in
       paragraph 2.3 (f), below.

                                       2
<PAGE>

       2.3  Payments, Credits and Exchange of Debt and Interest for Common
            --------------------------------------------------------------
            Stock.
            -----

            (a) By no later than December 31, 2000, the Company shall cause JT
       to be paid the sum of $750,000 in cash, provided that from the gross
       proceeds realized from sale of the Glendale Store, if any, JT shall be
       paid the sum of not less than $600,000. If such payment of $600,000 is
       made, the total sum due by December 31, 2000 shall be reduced to
       $150,000.

            (b) The Events Transaction is hereby approved, as a consequence of
       which the Company shall receive a credit of $750,000 to be applied as
       provided below.

            (c) After applying the offset to Non-Interest Payables for Columbus
       as provided for in paragraph 2.2 (b), it is acknowledged that the total
       due for principal on the Subordinated Note, delinquent interest under the
       Contributor Notes, and the remaining Non-Interest Payables amounts to the
       sum of $4,946,787 (the "Pre-Credit Total").

            (d) The Pre-Credit Total shall be reduced by (i) the payments made
       pursuant to paragraph 2.3 (a), upon payment, and (ii) application of the
       credit provided for in paragraph 2.3 (b) upon the closing of the Events
       Transaction.

            (e) The Pre-Credit Total shall be reduced further by the sum of
       $3,446,787 upon issuance to JT of a total of 3,356,170 shares of the
       Company's common stock. It is acknowledged that such number of shares was
       based upon the average closing price of the Company's common stock as
       reported on the American Stock Exchange for the 30 trading days prior to
       and ending on March 22, 2000, the date of the company's last meeting of
       the Board of Directors.

            (f) At the closing of the Columbus Transaction, the exact value of
       the inventory purchased shall be fixed (the "Transfer Balance"). If the
       Transfer Balance is greater than the sum of $565,840, then the excess
       amount shall be credited to Company, which shall have the right to off-
       set such figure against any future obligation owing to JT. If the
       Transfer Balance is less than the sum of $565,840, then such shortfall
       amount shall be paid to JT as an addition to the next payment of
       consulting fees, or at the Company's election, in equal installments as
       an addition to the next two (2) payments for consulting fees.

3.     Consequences of Default
       -----------------------

       3.1  Any failure to pay JT within 10 business days of the date due with
respect to (a) principal and/or interest under the Contributor Notes, (b) rent
pursuant to the HQ Leases, (c) reimbursable expenses, or (d) the payments due
under paragraph 2.3 (a) above, shall constitute an Event of Default.  With
respect to reimbursable expenses, the "date due" shall be the date by  which the
Company normally and customarily effects reimbursement to senior executives
according to established Company policy, but in no event later that 2 weeks
after demand for reimbursement is made (provided such demand is accompanied by
all proper documentary support for the reimbursement request in question).
Furthermore, in the case of consulting fees, any failure to pay TPI on the due
date shall also constitute an Event of Default.

       3.2  Subject to the provisions of paragraph 3.3, upon the occurrence of
an Event of Default, the Company shall become obligated as of the 1st  business
day following the expiration

                                       3
<PAGE>

of the cure period specified in paragraph 3.1 (the "Cure Period"), or in the
case of consulting fees, on the 1st business day following the due date, to
issue to JT shares of common stock in an amount equal to 10,000 shares for each
separate Event of Default (e.g. failure to pay each monthly installment of rent,
a quarterly interest payment, etc., plus 1,000 shares for each day that such
default remains uncured after the due date (with respect to consulting fees) or
expiration of the Cure Period as to all other Events of Default (the "Penalty
Shares").

       3.3  The obligation of the Company to issue the Penalty Shares shall be
specifically conditioned upon verification by at least one member of the
Company's audit committee that an Event of Default has occurred.

4.     Management Authority.  JT shall become the Chief Executive Officer of
       --------------------
Paisano, effective April 3, 2000, to serve thereafter in such capacity in the
discretion of the Board of Directors.

5.     Further Acts.  In furtherance of the foregoing, the Board of Directors
       ------------
shall adopt appropriate resolutions authorizing and directing its officers to
(a) create and execute all documents necessary and/or appropriate in order to
effect the foregoing, including, without limitation, amendments to promissory
notes, definitive agreements, stock issuance orders, and (b) cause Paisano and
El Paso to take such action as may be necessary and/or appropriate to effect the
foregoing, including, without limitation, Board Resolutions.

I request that the Board accept this proposal by formal resolution.

Sincerely,

/s/ Joseph Teresi

JOSEPH TERESI

                                       4
<PAGE>

                                  Term Sheet
         Proposed Acquisition of Easyriders of Columbus by Joe Teresi

1)  Transaction to be structured as a sale by Easyriders of Columbus, Inc., an
Ohio corporation ("EZR Columbus") of substantially all of its assets of to Joe
Teresi ("JT"). Easyriders, Inc. ("Easyriders") owns all of the outstanding
capital stock of EZR Columbus.

2)  Assets to be sold:

    .  All inventory/1/, comprising both "soft" (apparel) and "hard" (motorcycle
       parts, etc.), subject to exception for "stale" inventory noted below.

    .  All motorcycles owned by the store, subject to exclusion of the 2 Titans
       as noted below/2/.

    .  The liquor license applicable to the store.

    .  All fixed assets, e.g. racks, shelves, tools.

    .  All rights of EZR Columbus under the existing store lease with JT - JT to
       release EZR Columbus from all liability under the lease. (All rent is
       current; lease continues though 9-23-00 at the rate of $ 5,000 per month,
       which amounts to $210,00 in total future rent obligations.)

3)  Excluded items:  EZR Columbus will retain all cash on hand (estimated
$100,000), all accounts receivable (estimated $100,000, and responsibility for
all trade payables of approximately $69,000/3/).

4)  Consideration to be paid by JT:  Forgiveness of certain obligations owed by
Easyriders (and/or subsidiaries) to JT/4/ in an amount equal to the total of the
following:

     .  100% of the cost of all non-motorcycle inventory items which are not
        "stale"- i.e. identical items have sold in the store within the last 12
        months.

    .   10% of the cost of all "stale" inventory items, provided that at
        election of Easyriders, these items may be returned to Easyriders at its
        expense, in which case no credit will be given for the same.

    .   100% of the cost of all motorcycles owned by the store, with the
        exception of the 2 Titan motorcycles (the "Titans"). As to the Titans,
        EZR Columbus can elect either of the two following options:

----------------------
/1/  Detailed inventory and fixed asset list is being prepared and will be an
     exhibit to the final agreement.

/2/  Presently there are 20 motorcycles with an aggregate cost basis of
     $316,170.

/3/  Per schedule to be prepared by Bob Davis. Estimates subject to considerable
     fluctuation - numbers may change considerably prior to closing.

/4/  Schedule itemizing debt and/or obligations to be forgiven is set forth in
     proposal to Board of Directors.

                                   EXHIBIT A
<PAGE>

    .   Option 1: EZR Columbus will retain title to the 2 Titans (which have a
       --------
       cost basis of $52,330), along with responsibility for the TransAmerica
       flooring debt secured by the Titans. Easyriders will be responsible for
       all costs in connection with removal of the Titans from the store and
       relocation of the same.

    .  Option 2:  JT will take the Titans in exchange for an offset equal to
       --------
       70% of their cost (i.e. $36,631 based on cost of $52,330), provided that
       EZR Columbus will retain liability for the TransAmerica flooring debt.

6)  JT will enter into a standard license agreement with Easyriders Licensing,
Inc. and pursuant thereto will continue to operate the store as "Easyriders of
Columbus."  (This will obligate JT to purchase $75,000 of Roadware Merchandise
per year.)

                                       2
<PAGE>

                                  Term Sheet

               Proposed Inventory Purchase and License Agreement

                           Easyriders Events Division

Through the efforts of Joe Teresi, a new company to be formed by Melissa Penland
(Hot Action Sportswear) and John Green (Easyriders of Daytona) has made a
proposal to take over the management, promotion, and event-merchandise division
of Easyriders, pursuant to a two-step transaction as follows:

1)  Inventory Credit.
    ----------------

    Newco will pay the company $750,000 in cash. In addition, Joe Teresi will
    forgive $750,000 of obligations owed by Easyriders, in exchange for a note
    from Newco. As consideration for the cash and debt forgiveness, Easyriders
    will provide Newco with a credit of $1.5 million which may be used only to
    purchase Roadware merchandise at the rate of no more than $200,000 per year.
    Pricing is "dealers cost" and the merchandise purchased with the credit can
    only be sold by Newco at authorized events (as defined).

2)  License.
    -------

    .  License:  To produce and manage Easyriders Events, to make and sell
       -------
       event-specific merchandise bearing the Easyriders brand at the Events,
       and to sell Roadware merchandise at Events. Agreement will contain strong
       brand-protection covenants.

    .  Royalties: Guaranteed royalty of $100,000 per calendar quarter, plus
       ---------
       $150,000 per year (increasing by 5% per year) against 5% of gross Event
       revenues- gate, event-specific merchandise.

    .  Term: Ten years. Option to extend for two 10-year periods, on same terms
       ----
       as adjusted for CPI increases.

    .  Advertising Support: Paisano to provide 1 full page ad and 2 one-third
       -------------------
       page ads (all 4-color) in all issues of each applicable title, at no cost
       to Licensee.

                                   EXHIBIT B

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