Lawrence police continue to investigate an early Saturday report of an armed robbery in which the suspect escaped on an old, low-riding pink bicycle with a pink and purple “banana seat.”

The victim said he encountered the suspect near the intersection of 24th and Ridge Court at 4:20 a.m. Saturday, police said. In his original statement, the victim mistakenly gave a location of 24th and Naismith, said Sgt. Trent McKinley, a Lawrence Police Department spokesman.

The suspect, not known to the victim, asked to use the victim’s cellphone. Upon making three phone calls and handing the phone back to the victim, McKinley said, the suspect produced a handgun and demanded the victim’s wallet. After removing approximately $50 in cash and discarding the wallet, the suspect left the area on the bicycle.

Police say the suspect was described as a black male in his mid-forties, 5-foot-9 to 6-feet tall with a thin build and gray hair.