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EXCEL - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCFinancial_Report.xls
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v2.4.0.6
Consolidated Statements of Operations (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Revenue $ 370,274 $ 166,166 $ 655,073 $ 204,901
Cost of revenue 345,008 162,787 622,126 208,992
Gross profit 25,266 3,379 32,947 (4,091)
Operating expense:        
Research and development costs 93,756 14,983 172,441 19,139
Selling, general and administrative 748,665 1,478,424 2,691,172 2,621,550
Total operating expense 842,421 1,493,407 2,863,613 2,640,689
Loss from operations (817,155) (1,490,028) (2,830,666) (2,644,780)
Other (expenses) income:        
Interest expense (117,643) (5,324) (436,971) (40,744)
Accretion of debt discount 0 0 (461,088) (83,304)
Financing cost, debt discounts (218,118) 0 (729,768) (183,566)
Gain on extinguishment of debt 0 0 30,356 0
Beneficial conversion feature on loan 0 0 0 (211,730)
Other income (expense) 0 0 0 1,463
Total other (expense) income (335,761) (5,324) (1,597,471) (517,881)
Net loss (1,152,916) (1,495,352) (4,428,137) (3,162,661)
Less: Deemed dividend of preferred stock 0 0 0 327,794
Net loss attributed to common shareholders $ (1,152,916) $ (1,495,352) $ (4,428,137) $ (3,490,455)
Net loss per common share:        
Basic and diluted (in dollars per share) $ (0.03) $ (0.07) $ (0.09) $ (0.17)
Weighted average shares common stock outstanding (in shares) 52,165,788 19,979,737 43,102,543 19,021,687