Back in the day ('81-ish), Vic Zinn Music outside of Indianapolis had several graphite-necked Alembics pass through his inventory. I'm positive one of them was a short scale KOA Series II, but I could be mistaken about that (it did have LEDs, of that I'm certain). The ones I played (and I played every one of them he had!) were all set-neck construction, a la Excel and Orion basses. Fine, fine, fine instruments!
Vic also had an abundance of Modulus Graphite instruments (including the infamous 18-string monster), as well as some Rick Turner basses.
John