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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
Loans (Details Textual) (USD $)
1 Months Ended 3 Months Ended 9 Months Ended 9 Months Ended 3 Months Ended 1 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 9 Months Ended
Sep. 30, 2012
Aug. 31, 2012
Jul. 31, 2012
Jun. 30, 2012
Mar. 31, 2012
Sep. 30, 2012
Sep. 30, 2011
Mar. 15, 2012
Sep. 30, 2012
Restricted Stock [Member]
Sep. 30, 2012
Loan Brokerage Commission [Member]
Sep. 30, 2012
Engine Development Ip Technology [Member]
Mar. 31, 2012
Investor [Member]
Mar. 31, 2012
Convertible Notes Payable [Member]
Sep. 30, 2012
Line Of Credit [Member]
Mar. 31, 2012
Loan Agreement Member 1 [Member]
Mar. 31, 2012
Loan Agreement Member 2 [Member]
Mar. 31, 2012
Short Term Loan Agreement [Member]
Sep. 30, 2012
Loan Agreement [Member]
Apr. 24, 2012
Loan Agreement [Member]
Sep. 30, 2012
Loan Agreement [Member]
Director [Member]
Sep. 30, 2012
Loan Agreement [Member]
Precision Metal Fab Racing [Member]
Debt Instrument, Face Amount                             $ 100,000 $ 100,000          
Debt Instrument, Maturity Date, Description                           36 months 180 days 180 days          
Debt Instrument, Maturity Date Range, Start                             Jan. 01, 2012 Jan. 01, 2012          
Debt Instrument, Maturity Date Range, End                             Mar. 31, 2012 Mar. 31, 2012          
Debt Instrument, Convertible, Effective Interest Rate         12.00%                                
Debt Conversion, Converted Instrument, Warrants Or Options Issued         650,000                                
Debt Instrument, Convertible, Conversion Price         $ 0.15                                
Repayments Of Long-Term Debt                                   280,000      
Repayments Of Related Party Debt           287,000 0           65,000             80,000  
Convertible Notes Payable               33,622                          
Due to Related Parties, Current                                 214,000        
Proceeds From Issuance Of Private Placement                       25,000                  
Line Of Credit Facility, Maximum Borrowing Capacity                                     6,000,000    
Line Of Credit Facility, Interest Rate At Period End                                     15.00%    
Long-Term Debt, Gross                                   2,500,000      
Payments To Acquire Businesses, Gross                                         640,000
Repayments Of Long-Term Loans From Vendors           375,000                              
Payments To Acquire Intangible Assets           415,000 0       330,000                    
Payment For Manufacturing Tooling and Related Expenses           450,000                              
Payments For Commissions                   180,000                      
Payments For Other Operating Activities           128,000                              
Percentage Of Tangible and Intangible Assets Under Balancing Formula 60.00%         60.00%                              
Noncontrolling Interest, Ownership Percentage By Parent 100.00%         100.00%                              
Stock Issued During Period, Shares, New Issues       2,333,334 666,666       9,694,128                        
Proceeds From Lines Of Credit $ 160,000 $ 195,000 $ 345,000