What is going on with this Kona?

[al-onestare]

http://www.ebay.co.uk/itm/KONA-BIKE-FRA ... =RTM839989

Riddled with rust, TBG badged but with slide out drop outs. Me thinks something odd is going on...

 

[Anthony]

If everything he says is true, I would say it's probably a size 19 1991 Explosif that has needed/been given a new rear end at some point, and has also had an inch taken off the top of the seat tube (best thing to do if you get a lateral crack there).

It's natural to think it must be a low-end frame, but (a) you wouldn't spend all that money on repairing a cheap frame, (b) cheap steel frames don't take 27.2 posts.