UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549



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FORM 8-K

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Current Report



Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934



Date of Report (Date of earliest event reported):April 18, 2007



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VIPER POWERSPORTS INC.

(Exact name of registrant as specified in its charter)



Nevada
        000-51632
        41-1200215(State or other jurisdictionof incorporation or organization)
        (Commission File Number)
        (I.R.S. Employer Identification No.)






19950177th St., Ste. F
Big Lake, MN
        
        55309(Address of principal executive offices)
        
        (Zip Code)




Registrants telephone number, including area code: (763) 263-5700



Not Applicable

(Former Name or Former Address, if Changed Since Last Report)



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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:



oWritten communications pursuant to Rule425under the Securities Act (17 CFR 230.425)



oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.l4a-12)



oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))



oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))





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Item 3.02. Unregistered Sales of Equity Securities.



On April 18, 2007, Viper
Powersports Inc. (Viper) closed a private equity offering whereby a total of 1,000,000 shares of its common stock were
sold for $750,000, or $.75 per share. The offering was made by management of Viper without a placement agent, and they received no
commissions or compensation related to the offering. The proceeds from the offering are being used for working capital and general
corporate purposes. Purchasers participating in the offering were all accredited investors who made appropriate representations
including their agreeing that certificates for these shares will be legended to restrict further resale, transfer or other
disposition thereof. Sales in this private offering were made by Viper in reliance upon Section 4(2) of the Securities Act of
1933, as amended.



Also on April 18, 2007, Viper
issued a total of 243,000 common shares to certain employees of Viper as a bonus for their substantial time and efforts conducted on behalf of Viper
during its recent restructuring. Incident thereto, the employees released rights to purchase a total of 249,000 common shares of
Viper pursuant to outstanding stock options, and all of these stock options were canceled by Viper. The 243,000 shares received by
Viper employees were taken by them for long-term investment with the related share certificates legended to restrict further
resale, transfer or other disposition thereof. All of these employee bonus shares were issued by Viper in reliance upon Section
4(2) of the Securities Act of 1933, as amended.



SIGNATURES



Pursuant to the requirements of the Securities and Exchange Act of 1934,the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.





Viper Powersports Inc.Dated: April 23, 2007
        
        By:
        /s/ Jerome PoseyJerome Posey, Chief Financial Officer


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