On April 10, 1999, at 0930 hours Pacific daylight time, a Cessna 172H, N3289L, veered right off runway 30 and collided with a taxiway sign during takeoff from the North Las Vegas, Nevada, airport. The aircraft was operated by North Las Vegas Flying Club and was rented by the pilot for a personal cross-country flight under 14 CFR Part 91 of the Federal Aviation Regulations. Visual meteorological conditions prevailed at the time and no flight plan was filed. The aircraft incurred substantial damage. The private pilot and his two passengers were not injured. The flight was originating at the time as a cross-country flight to the Grand Canyon National Park airport. In a written statement, the pilot reported that he was attempting a formation takeoff with another aircraft and initiated his takeoff roll when the first aircraft became airborne. At 65 mph, the pilot rotated and the aircraft veered right just as the wheels left the ground. The pilot stated that he was unable to regain control of the aircraft and the nose wheel collided with a taxiway sign. He said he then was finally able to regain aircraft control and took the aircraft around the traffic pattern and landed on runway 7. As the nose wheel touched down, the nose strut collapsed. Subsequent examination of the aircraft revealed damage to the firewall and right horizontal stabilizer.