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EXCEL - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCFinancial_Report.xls
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EX-31.1 - EXHIBIT 31.1 - VIPER POWERSPORTS INCv327636_ex31-1.htm
EX-32.1 - EXHIBIT 32.1 - VIPER POWERSPORTS INCv327636_ex32-1.htm
10-Q/A - FORM 10-Q/A - VIPER POWERSPORTS INCv327636_10qa.htm
EX-31.2 - EXHIBIT 31.2 - VIPER POWERSPORTS INCv327636_ex31-2.htm
v2.4.0.6
Consolidated Balance Sheets (USD $)
Sep. 30, 2011
Dec. 31, 2010
ASSETS    
Cash $ 16,994 $ 15,579
Accounts receivable, net of allowance 6,303 0
Inventory and supplies 161,154 190,930
Prepaid expenses and other 41,873 1,330
Total current assets: 226,324 207,839
Fixed assets:    
Office and computer equipment 96,733 124,100
Manufacturing and development equipment 232,196 272,254
Vehicles 99,829 101,799
Leasehold improvements 49,248 90,446
Accumulated depreciation (150,126) (507,989)
Total fixed assets: 327,880 80,610
Other assets:    
Rental deposit and other 17,410 4,010
Long-term inventory 431,261 431,261
Total other assets: 448,671 435,271
Total assets: 1,022,875 723,720
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)    
Accounts payable 200,743 132,512
Accrued liabilities 110,530 181,325
Notes payable 199,511 129,000
Notes payable - related party 170,001 304,513
Current portion of long-term note payable 100,000 0
Total current liabilities: 780,785 747,350
Long-term liability    
Long-term note payable 170,000 0
Total long-term liabilities: 170,000 0
Total liabilities: 950,785 747,350
Stockholders' equity (deficit):    
Preferred stock, $.001 par value; authorized 20,000,000 shares; 1,353,135 and 0 shares issued and outstanding , respectively 1,386 0
Common stock, $.001 par value; authorized 25,000,000 shares; 19,111,724 and 17,719,280 shares issued and outstanding, respectively 23,237 17,719
Additional paid-in capital 40,658,670 36,549,869
Accumulated deficit during the development stage (40,631,203) (36,591,218)
Total stockholders' equity (deficit): 52,090 (23,630)
Total liabilities and stockholders' equity (deficit): $ 1,002,875 $ 723,720