DETROIT, May 30, 2012 (GLOBE NEWSWIRE) -- Viper Networks, Inc. (Pink Sheets:VPER), is pleased to provide additional information regarding recently announced corporate developments, and how the Company is building a foundation for greater success and profitability through sector diversity in attractive growth markets.
Yesterday's press release (5/29/12) was a historical announcement for the Company, as both parties signed a definitive agreement, which allows Viper Networks to quickly move forward with effectively entering the retail energy market by purchasing 30% of Aequitas Energy.
Per the stock purchase agreement contract, the first of two $500,000 payments is due by June 15th. After the initial investment, Viper Networks will begin to communicate appropriate progress updates and any material developments on Aequitas Energy, a profitable Connecticut-based energy retailer.
Company executives have complete confidence that Aequitas Energy's highest priority is to complete all licensing requirements and connection testing in an expedient manner, which is estimated to take approximately 4 to 5 months.
Upon the start of the projected launch date in December 2012, Company management firmly believes that Aequitas will begin capturing a significant number of new residential and commercial business accounts in Connecticut's deregulated energy market.
Viper Networks' President and CEO, Farid Shouekani, commented: "I am extremely excited about getting the Company into the retail energy market, especially by acquiring a significant percentage of Aequitas Energy. Shareholders should understand that this new industry and new alliance, offers the very real potential of having a huge impact on Viper's bottom line. By keeping our investment commitments on schedule, coupled with their efforts to complete testing and regulatory approvals this fall, we should be rolling before year-end."
Mr. Shouekani concluded: "Although I have seen the projected first year numbers, Aequitas Energy will not release 2013 projected revenues and earnings until they are fully licensed and tested. Which means their impressive twelve month projections won't come out until shortly before or just after official launch. So, with a little patience loyal VPER shareholders should become as excited as I am… come this December."
The Company anticipates releasing several individual announcements in the days ahead, which should provide the latest developments and progress updates or more for LEDs America (LED-O), Envirolite Corporation (PowerDisc), and the Washington D.C. LED Manufacturing JV.
For additional information, please visit the Company's temporary site at www.vipernetworks.com, or www.LEDsAmerica.com, or www.LEDOglobal.com, or www.powerdisc.com.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development of new business opportunities, zero operational impact and projected costs, future operations, revenue, profits, gross margins and results of operations. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.