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EXCEL - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCFinancial_Report.xls
10-K - 10-K - VIPER POWERSPORTS INCv309636_10k.htm
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EX-31.1 - EXHIBIT 31.1 - VIPER POWERSPORTS INCv309636_ex31-1.htm
EX-31.2 - EXHIBIT 31.2 - VIPER POWERSPORTS INCv309636_ex31-2.htm
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EX-32.1 - EXHIBIT 32.1 - VIPER POWERSPORTS INCv309636_ex32-1.htm
v2.4.0.6
Consolidated Statements of Operations (USD $)
12 Months Ended 109 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2011
Revenues (net of returns) $ 165,209 $ 35,768 $ 1,255,071
Cost of revenues 165,538 35,040 1,212,135
Gross profit (329) 728 42,936
Operating expenses      
Research and development costs 69,585 758,107 6,100,384
Selling, general and administrative 3,136,316 1,710,174 23,492,604
Loss on impairment and charge-off of assets and inventory 75,802 209,628 7,657,119
Total operating expenses 3,281,703 2,677,909 37,250,107
Loss from operations (3,282,032) (2,677,181) (37,207,171)
Other income (expense)      
Interest expense (59,444) (268,775) (1,578,350)
Gain sale of assets     (18,994)
Accretion of debt discount (83,304) (647,804) (609,668)
Beneficial conversion features (227,419) (401,069) (731,108)
Financing cost relating to debt discount (183,566) (426,102) (628,488)
Other income 2,905 1,746 349,701
Total other income (expense) (550,828) (1,742,004) (3,216,907)
Net loss (3,832,860) (4,419,185) (40,424,078)
Deemed dividend of preferred stock (338,508)   (338,508)
Net loss attributed to common shareholders $ (4,171,368) $ (4,419,185) $ (40,762,586)
Loss per common share - basic and diluted $ (0.19) $ (0.31)  
Weighted average common shares outstanding - - basic and diluted 20,493,779 14,210,267