AUBURN, AL – July 12, 2011 – (Motor Sports Newswire) – The following press release is being issued by Viper Powersports (PINKSHEETS: VPWI):
Dear Fellow Shareholders:
During the month of June, we have completed the Company’s relocation from Minneapolis, MN to our new world Headquarters in Alabama. Our new 63,000 sq ft world class production facility is situated on 17 acres in Auburn, Alabama. We are excited to be in our new home. The facilities are large enough for us to produce up to 1000 units per year and the plant can be expanded to a maximum footprint of 163,000 square feet.
In the past sixty days, we have rounded out our senior management team with several high profile additions. The additions are: Tim Kling, the former CFO of Lehman Trikes, as our new Chief Financial Officer, Dave Leysen, who has been responsible for the successful launch of numerous complex vehicle systems for several OEMS including GM, Ford, Chrysler, Toyota, BMW, and Indian Motorcycles, as our Director of Operations, and Colbert Seagraves, former director of marketing for the All Harley Davidson Drag Racing Association, as our VP of Marketing and Racing. Andrew Broadley as our Technical Director completes the nucleus of our Management team.
We have already received commitments from two leaders from the Alabama business community, Grant Lynch, Chairman of Talladega Raceway, and Tim Wellborn, owner of the Wellborn Muscle Car Museum, to join our Board of Directors.
We recently completed a $1 million private placement of Series A preferred stock. This additional capital has been deployed to purchase inventory and to hire initial production personnel to commence our initial production of our motorcycle products.
We believe that due to our new world class products, our joint venture with Ilmor Engineering, recent additions to our senior management team, and the closing of our financing, we are now ready to commence the launch of our products. We intend to prove that products designed, engineered, and “Made in America” mean something special as we intend to build the best high performance super cruiser motorcycles and engines in the world.
In the coming months we eagerly look forward to the announcement of the members of our US and International Dealership network. By year end we intend to achieve consistent commercial scale production, with the ability to rapidly scale production consistent with our order backlog from our dealer network while maintaining outstanding quality control and dealer service.
Later this year we look forward to our “Grand Opening,” where we will also announce and showcase our 21st Century Model, the “Mamba,” which the race version is being prepared to race in the NHRA circuit in 2013.
We thank you for your continued support.
Chief Executive Officer
Viper Powersports designs, manufactures and markets a line of premium American V-Twin Super Cruiser motorcycles, V-Twin aftermarket engines and other related aftermarket products through an independent dealer network. A joint venture partnership with Ilmor Engineering (www.ilmor.com), provides design, technical development and support for the proprietary 152 cubic inch Viper V-Twin engine, utilizing their 25 years of high-performance engine expertise, ensuring Viper’s long-term success as America’s newest domestic OEM of motorcycles. Viper Powersports and Viper Motorcycle Company’s websites are www.viperpowersports.com and www.vipermotorcycle.com.
The foregoing material may contain forward-looking statements. We caution that such statements may be subject to uncertainties and that actual results could differ materially from the foregoing statements. Readers accordingly should not place undue reliance on these forward-looking statements which do not reflect anticipated or unanticipated events or circumstances occurring after the date of these forward-looking statements.
FOR MORE INFORMATION CONTACT:
VP Investor Relations
Viper Powersports, Inc.
SOURCE: Viper Powersports