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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
Subsequent Events
9 Months Ended
Sep. 30, 2012
Subsequent Events [Abstract]  
Subsequent Events [Text Block]

J. Subsequent Events

 

The Company has evaluated subsequent events from September 30, 2012 through the date the original financial statements were issued and determined that there are the following events to disclose:

 

Loans

 

On October 10 2012, per the April 24, 2012, Loan Agreement with Precious Capital LLC, VMC was advanced $1,725,000 under the same terms.

 

The Company has made a pre-payment of $1,000,000 to Ilmor for the purchase of future engines and components.  This amount will be carried a prepaid other on future financial statements