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Viper Powersports Releases Letter to Shareholders

Viper Powersports recently sent out a letter to its shareholders detailing the latest changes the company has undergone including moving to a new headquarters and a shakeup of senior management.

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Viper Powersports recently sent out a letter to its shareholders detailing the latest changes the company has undergone including moving to a new headquarters and a shakeup of senior management.

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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 1,000 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.

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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.

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In the coming months we eagerly look forward to the announcement of the members of our U.S. 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.

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We thank you for your continued support.

John Silseth
Chief Executive Officer

For more information about Viper Powersports, visit www.viperpowersports.com.

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