Viper Networks, Inc. Announces Negotiations for Partners in India Operations
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TROY, MI, Jun 30 (MARKET WIRE) --
Viper Networks, Inc. (PINKSHEETS: VPER) announced today that it has been
negotiating with the largest telecommunications providers in Africa and
the Middle East for a distribution agreement for its recently awarded
India telecom license. This distribution agreement includes sales and
marketing of all of the communication products allowed in the franchise
agreement. The Company expects to close this distribution agreement and
announce details within the next two weeks.
As previously announced, the Company signed a 5-year Joint Venture
Agreement with Cirilum India Pvt. Ltd. for the exclusive franchise rights
with BHARAT SANCHAR NIGAM LIMITED (a Government of India Enterprise) for
pre-paid international calling cards for retail inbound international
traffic. This joint venture will target the roughly 50,000,000 Indian
expatriate community and a floating population of Indian tourists outside
India. This card will enable users to call from any landline, mobile, PC
or any VoIP enabled device from countries where it is proposed to be
launched in the world. The card will be available both in India and
outside India. Viper is partnering with Cirilum India Pvt. Ltd. to own
and operate this license, offering a full spectrum of national and
international telecom services, including: VoIP, Calling Cards and
Pinless Accounts.
Viper Networks, Inc. has projected that its interest in this Joint Venture
will earn revenue of $15,000,000 for 2009 and growing to over $50,000,000
for fiscal 2010. Viper will generate revenues through network operations
and technical management fees, as well as an equity ownership stake.
Viper Networks, Inc. is finishing its audited financial statements for the
year ended December 31, 2008, as well as the unaudited financial
statements for the three months ended March 31, 2009, and will be making
them available at www.pinksheets.com.
Except for the historical information contained herein, this press release
contains forward-looking statements that involve risks and uncertainties.
Actual results may differ materially from the results predicted and
reported results should not be considered an indication of future
performance. In addition to the factors discussed in the filings with the
Securities and Exchange Commission, among the other factors that could
cause actual results to differ materially are the following: adverse
changes in the business conditions and the general economy; competitive
factors, such as rival companies' pricing and marketing efforts;
availability of third-party material products at reasonable prices; the
financial condition of the customer; risks of obsolescence due to shifts
in market demand; and litigation involving product liabilities and
consumer issues. Viper Networks, Inc. cautions readers not to place undue
reliance upon any such forward looking statements, which speak only as of
the date made. Viper Networks, Inc. expressly disclaims any obligations or
undertaking to release publicly any updates or revisions to any such
statements to reflect any change in the company's expectations or any
change in events, conditions or circumstances on which any such statement
is based.
CONTACT:
Viper Networks, Inc.
Email Contact
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