Index card note says issue 1 had two covers, but this is actually the same as the issue numbered 14, with different cover coloring. Also same content as Stanley Morse (Key) Peter Cottontail #1.
Link to the book: Speedy Rabbit 1(a)
Yes, I.W. Comics was a reprint publisher, whose owner, Israel Waldman, in late 1957 and 1958, bought the original plates of hundreds of individual Golden Age comic books whose publishers had gone out of business between 7 and 3 years before, from a printing company for extremely little money. He started printing those books up, having new covers drawn up with his IW imprint on them. Whenever he was unsure of whether or not the copyrights to the book, or the trademark on the book's lead and namesake character was still owned, he changed the name of the book (usually to a made-up brand new character name, who looked like one of the lesser characters in the book. So, he used the name of an old Avon character, "Speedy Rabbit", to sell from name recognition, who could be believable to the young readers because he was the same type of animal as "Peter Cottontail", who was the lead character in all the book's stories. But, the new art was different enough to not be recognisable as Avon's character. "Speedy Rabbit 1" was issued in early 1958. It was re-issued as "Red Rabbit 14" in 1963, with the different coloured cover. These comic books were marketed directly to discount stores and toy stores, and were they were packaged in groups of 2, 3, and 4 for an average of roughly 6 to 8 cents per book, at the discretion of the store owner.
Waldman had been sued for issuing still-copyrighted material (I believe it was for issuing some Timely Comics' books intact, with only new covers. He was given cease and desist orders from the court. So, he shut down his production (and, probably distribution and sales). It seems that he waited until the heat was off, and he re-issued many of his 1958 issues, and also many others that he hadn't issued back then in 1963 and 1964, under the new imprint of "Super Comics".
