Viper Powersports, Inc. Announces Notice of Balancing Default

        Viper Powersports, Inc. Announces Notice of Balancing Default

PR Newswire

AUBURN, Ala., Feb. 14, 2013

AUBURN, Ala., Feb. 14, 2013 /PRNewswire/ -- Viper Powersports Inc. (OTCQB:
VPWI) announced today that on February 13, 2013, Precious Capital LLC
("Precious") issued a notice related to the April 24, 2012 Loan and Security
Agreement ("Agreement") between Viper Motorcycle Company ("Viper") and
Precious. The notice stated that a Balancing Default to the Agreement exists
and provided for 10 business days to cure the issue before an Event of Default
will occur.

Viper and Precious have been working to restructure the agreement to achieve
an equitable capital structure for all of Viper's stakeholders.In parallel
with the restructuring discussions, Viper has been actively seeking financial
alternatives and will vigorously continue to pursue all viable options.

The foregoing material may contain forward-looking statements. We caution that
such statements may be subject to uncertainties and unanticipated events or
circumstances, and that actual results could differ materially from such
forward-looking 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
334-321-4292
tkling@viperpowersports.com

SOURCE Viper Powersports, Inc.
 
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