Attached files

file filename
EXCEL - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCFinancial_Report.xls
XML - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCR4.htm
XML - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCR6.htm
XML - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCR3.htm
XML - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCR7.htm
XML - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCR1.htm
XML - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCR2.htm
XML - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCR8.htm
XML - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCR9.htm
XML - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCR10.htm
XML - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCR25.htm
XML - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCR17.htm
XML - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCR19.htm
XML - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCR20.htm
XML - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCR16.htm
XML - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCR11.htm
XML - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCR15.htm
XML - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCR24.htm
XML - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCR13.htm
XML - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCR14.htm
XML - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCR21.htm
XML - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCR12.htm
XML - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCR27.htm
XML - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCR23.htm
XML - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCR22.htm
XML - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCR18.htm
EX-31.2 - EXHIBIT 31.2 - VIPER POWERSPORTS INCv325968_ex31-2.htm
EX-31.1 - EXHIBIT 31.1 - VIPER POWERSPORTS INCv325968_ex31-1.htm
EX-32.1 - EXHIBIT 32.1 - VIPER POWERSPORTS INCv325968_ex32-1.htm
10-Q - 10-Q - VIPER POWERSPORTS INCv325968_10q.htm
XML - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCR26.htm
v2.4.0.6
Statement of Cash Flows (USD $)
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash Flows Used in Operating Activities:    
Net loss $ (4,428,137) $ (3,162,661)
Expenses not requiring an outlay of cash:    
Depreciation 140,607 55,568
Common stock and warrants issued for compensation and services 613,242 1,159,515
Beneficial conversion feature on convertible loan 0 211,730
Accretion of debt discount 461,088 83,304
Financing costs related to debt discount 729,768 183,566
Gain on extinguishment of debt (30,356) 0
Non cash interest 188,701 0
Common stock issued to convert accrued interest 0 3,164
Changes to operating assets and liabilities:    
Decrease (increase) in accounts receivable (187,921) (6,303)
Decrease (increase) in inventory and supplies (414,954) 29,776
Decrease (increase) in prepaids and other (179,060) (53,943)
Increase (decrease) in accounts payable 21,432 68,231
Increase (decrease) in accrued liabilities 3,347 (70,795)
Cash flows used in operating activities (3,082,243) (1,498,848)
Cash Flows Used in Investing Activities:    
Purchase of intellectual property (415,000) 0
Purchase of fixed assets (300,885) (220,796)
Cash flows used in investing activities (715,885) (220,796)
Cash Flows from Financing Activities:    
Net proceeds from sale of preferred stock 0 599,849
Net proceeds from sale of common stock 443,500 510,543
Proceeds from notes payable 3,238,783 690,000
Payments on notes payable (65,000) (74,000)
Payments on stockholder loans (287,000) 0
Payments on loan costs 0 (55,333)
Proceeds from loans from stockholders, related parties 481,000 50,000
Cash flows from financing activities 3,811,283 1,721,059
Net increase in cash 13,155 1,415
Cash at beginning of period 27,896 15,579
Cash at end of period 41,051 16,994
Supplemental Non-Cash Financing Activities and Cash Flow Information:    
Stock warrants issued with short-term loans 0 75,000
Interest converted 0 35,419
Deemed dividend on preferred stock 0 327,794
Preferred Stock [Member]
   
Supplemental Non-Cash Financing Activities and Cash Flow Information:    
Capital stock issued for debt 0 425,000
Common Stock [Member]
   
Supplemental Non-Cash Financing Activities and Cash Flow Information:    
Capital stock issued for debt $ 170,832 $ 325,000