A. Basis of Presentation
The consolidated balance sheet as of September 30, 2011, the consolidated statements of operations for the nine months ended September 30, 2011 and 2010 and the consolidated statements of cash flows for the nine months ended September 30, 2011 and 2010 have been prepared by Viper Powersports Inc., (the ”Company”) without audit. In the opinion of management, all adjustments (consisting only of normal recurring accruals) necessary to present fairly the financial position, as of September 30, 2011 and results of operations and cash flows for the nine months ended September 30, 2011 and 2010 have been made.
Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. These financial statements should be read in conjunction with the Company’s financial statements and notes thereto included in the Annual Report on Form 10-K/A of the Company for the fiscal year ended December 31, 2010.
For comparison, the Company’s Form 10-Q for the quarter ended September 30, 2010 was restated. When comparative data is used in this statement, the Company is referencing the restated Form 10-Q.