First of all, I hope your husband realizes what a lucky man he is that his wife not only goes along with the old crap that he buys, but she actually went out and tried to find some info on it!
Secondly, that seat cover is bad ass.
Iverson was a very small company in the 60s and 70s. I don't think they were around for very long and there isn't much info on them. Many of their bikes are highly coveted for their unique design and rarity. Lots of Mopar car collectors want these Roadrunners because of their name, derived from the cartoon character, and from the Plymouth muscle car of the same name.
George Barris did design this bike and the Iverson Dragstripper, maybe more.
It's good this bike is complete because parts are few and far between. Schwinn and Huffy dealers locked horns and battled for the top sales spot. Schwinn kept it conservative with the Sting-Ray and Huffy cranked out a new frame style every couple of years, at one point they designed a bike called the Huffy Rail and the Huffy Wheel...these had the option of coming with an actual steering wheel instead of handlebars.
Murray and AMF had the suburban department stores down pretty good. As far as I know, Iverson was one of those companies that sold in rural areas or in discount stores. They were cool, unique, but not very well known. I can't speak of their quality though.
Your bike was built in 1971 or 1972, because of the BMA/6 sticker on the seat tube. 1971 was the first years for these. They were a symbol meaning the bike manufacturer complied with safety standards of the time. I don't know if that shifter is original or not but by 1972, the stick shifters were outlawed thanks to politician Ralph Nader. Beginning in 1972, you saw thumb shifters and twist-grip shifters on the handlebars.
