I've been looking all morning, and haven't found it. But here are my Thoughts so far.
Italian Bike manufacturer, famous for offroad (Non-motocross) bikes: Cagiva (Trials), Maico(well, those are motocross bikes).
Other possibility, Laverda, but Laverda doesn't seem to still make bikes, and your clue included that they are still in business.
It appears to be a 125 CC, or possibly smaller. No way that thing is a 250, that engine is tiny, plus so is the exhaust tubing and silencer.
Its somewhere after 1980. Those appear to be Penske shocks. Most bike manufacturers were using a mono shock by 1983 (from what I've seen). Am I on the right track, Aris???
If I have to enter a guess right now, 1981 Cagiva 125 sx. But, I can't find a picture of it, so I don't know for sure.