Following yesterday’s great session, Viper Networks, Inc. (PINK:VPER) is getting off to a decent start today. The surge was incited by a press release, but will it be enough to provide another good day?
Yesterday shortly before the open, VPER announced they expected to conclude preliminary due diligence on a potential acquisition target by the end of March. The target – a profitable US-based LED company remained unnamed.[BANNER]
The news led to a 64.29% increase and a closing price of $0.0023 on 106 million shares. So far today VPER has taken a few stabs at the $0.003, but they have been unsuccessful.
VPER is an OTC Pink Limited Information company focusing on LED lighting. The most recent financial report showed limited working capital, some revenue, but not enough to cover operating expenses, and about a billion common shares outstanding.
When the acquisition talks were announced for the first time in late February, the news was backed by a paid promotion which gave VPER a short boost to $0.0065, but the excitement went away quickly, and with it the gains.
This time around there don’t seem to be any promotions. It will be interesting to see how far can yesterday’s update push VPER.
