AUBURN, AL – October 19, 2012 (Motor Sports Newswire) – Viper Powersports (otcqb:VPWI) has learned that effective September 17, 2012, the Depository Trust Company (“DTC”) has imposed a deposit transaction restriction (“Deposit Chill”) on our securities. The DTC has not imposed any other restrictions on its services related to our securities. The Deposit Chill was imposed as a result of what DTC determined was a large amount of deposits, and not as a result of any securities laws violations or any particular allegations of wrongdoing. In accordance with DTC’s request, we have retained an independent attorney to prepare an opinion on the deposits at DTC and answer any other of DTC’s questions. We are confident that this matter will be resolved and that the Deposit Chill will be removed.
ABOUT VIPER POWERSPORTS, INC:
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. Joint venture partner Ilmor Engineering ( www.ilmor.com ), provides technical developmental support for the proprietary 152 cubic inch Viper V-Twin engine, utilizing their 25 years of engine design expertise, ensuring Viper’s long term success as America’s newest domestic OEM of motorcycles. Viper Motorcycle Company website is 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:
Timothy C. Kling
Chief Financial Officer