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Viper Networks Inc (OTC: VPER) Stock Surges On Acquisition News

Ian Leigh

On Monday there were a number of stocks that had made significant gains, and one of those was the Viper Networks Inc. (OTCPK: VPER) stock, which ended up with gains of 40% for the day. This feature would provide you with a look into the anatomy of the rally.

Key Announcement

Yesterday the company came into focus after it announced that it had been awarded the requisite regulatory approvals from the Federal Communications Commission and other state authorities with regards to the completion of certain acquisitions. The acquisitions in question are those of Endstream Communications LLC, 1stPoint Communications LLC, and all the subsidiaries of 1stPoint. The acquisitions are expected to go into effect on November 1, 2024.

Accompanying Details

The company also announced that it appointed the Managing Member of 1stPoint and Endstream Communications, Eric Levitt, as the Principal Financial Officer and Chief Executive Officer of Viper Networks. The appointment would go into effect on November 1, 2024. Levitt would also join the board of directors in the capacity of Executive Director.

In the news release, the company further noted that it was working on a new ‘Everything Wireless’ strategy, which would encompass wireless technology across telecom, energy, and smart city spaces. Viper Networks would continue to work on boosting the customer experience in its main markets, which include Sri Lanka, the Caribbean, and the United States.

Key Quote

“The acquisition of these entities is a significant step forward for Viper,” said Mr. Shouekani. “By integrating the assets into our company, we will realize a substantial increase in our capacity to deliver on milestones in key projects. The 1stPoint team has a long history of being able to perform under some of the most difficult conditions and maintain consistent growth.” 1stPoint Communications and Endstream Communications together generated more than $770,000 in revenue and positive cash flows in their last reported quarter.

Technicals

+/- EMA(20)0.0002 (+50.00%)
+/- SMA(50)0.0002 (+50.00%)
+/- SMA(200)0.0004 (-25.00%)

Ian Leigh

Ian Leigh is a specialist in analyzing stocks, SEC and OTC filings, and financials of public and privately-held companies. He has played a significant role in M&A activity, consulting with publicly-held firms on acquisitions and divestitures. He also consults on valuations and branding. He lectures at major universities and teaches at specialty financial schools.