I was out camping the other day in Southern Ontario and came across this Flea hanging from the rafters at an antique store.
Looks to be missing some farkles like foot pegs, but dig the ummm rustic kicker. Price is a bit steep for me, but it appears to be earlier than 1948. He has no papers for it, nor was I able to get any numbers from it to figure out the correct age. It doesn't have the expansion style primary exhaust out, but does have the hand shift and girder fork, could be former military or very early civilian (46-47) model. Without seeing the numbers, and missing the foot pegs (folding on military) its hard to say. The seat is saying civilian as does the canister placement.