VPER News .0028
Viper Networks Reports Strong Progress on Multiple Projects and Acquisition Targets
2012-05-23 08:20 ET - News Release
DETROIT, May 23, 2012 (GLOBE NEWSWIRE) -- Viper Networks, Inc. (Pink Sheets:VPER), is pleased to provide updates on several fronts, including previously announced developments, corporate projects and two acquisition/merger targets.
Regarding the 'Letter of Intent' signing to acquire 30% of Aequitas Energy, a profitable Energy Reseller based in Connecticut (announced 5/8/12), the Company has made substantial progress over the last two weeks and expects to move from the LOI stage to final funding, operating and ownership terms by concluding a binding agreement next week.
To underscore the earnings estimates after Viper Networks' entrance into the power energy reseller market via pending agreement, the Company intends to provide complete revenue and net profit projections in the days ahead and will immediately announce the official contract conclusion and provide more comprehensive details of the final agreement terms.
In a follow-up to the news 'Viper Networks and JV Partners to Start Build-out for First LED Manufacturing Facility in U.S.' (announced six weeks ago on April 12th), an existing building in the commercial district of Washington D.C. has already been secured by one of four joint venture partners, who is also located in the District of Columbia area.
Noting such, the official start of the approximate 10-week LED manufacturing and assembly line build-out phase is merely awaiting the U.S. government grant check issuance for approximately $750,000, which is expected at any time or most likely within the next few weeks.
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