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EXCEL - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCFinancial_Report.xls
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EX-31.2 - EXHIBIT 31.2 - VIPER POWERSPORTS INCv325968_ex31-2.htm
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v2.4.0.6
Intangibles
9 Months Ended
Sep. 30, 2012
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Disclosure [Text Block]

I. Intangibles

 

Under the Ilmor/Viper Contract, Ilmor had assumed all design, development, testing, quality control and manufacturing with respect to an upgraded Ilmor-designed Viper V-Twin engine. Ilmor has completed design and development operations and is now producing models of this engine based on specifications jointly developed by Ilmor and Viper. Under a payment schedule extending through November 2012, the Company was to pay Ilmor a total of $745,000 for the design, development and testing of this V-Twin engine. On April 24, 2012 Viper paid Ilmor the final $330,000 installment for the development cost. The Company will amortize this intangible over the next 60 months.