DETROIT, Dec. 5, 2012 (GLOBE NEWSWIRE) -- Viper Networks, Inc. (Pink Sheets:VPER), is pleased to announce that the Company has officially sold their first domestic LED order to a major worldwide manufacturer with multiple facilities throughout the state of Ohio.
The initial order and all subsequent orders will be fulfilled through the Company's U.S-based manufacturing partnership with Apollo Metro Solutions.
Although the first order delivery amount reflect a modest value numbering in the tens of thousands of dollars, anticipated order and delivery estimates during 2013 are projected at between one million and 1.5 million U.S. dollars.
While management regrets not be able to announce the highly recognizable, household name of the worldwide manufacturing leader at this time nor the industry or sector; the executives at Viper Networks look forward to providing this important detail upon final approval from corporate sometime after shipment delivery and LED parking lot light installation has begun.
Securing this business and first domestic order in the U.S. is an important milestone for the Company in many respects, but shareholders and other interested parties will be happy to know that Fortune Magazine has listed the new client company in the Top 50 of the World's Most Admired Companies in 2012.
As promised and previously announced, the Company's CEO is traveling from Detroit to Bahrain today to formally present an Advanced LED Lighting product demonstration with motion sensor-equipped streetlights and Smart Grid applications, in anticipation of securing yet another pilot project client and potentially significant business throughout Bahrain's cities and infrastructure.
Finally, with the announcement of the cash funds Viper Networks received last month to help cover priority manufacturing cost associated with production partner Apollo Metro, all LED parts manufacturing has now been finished for the two pilot programs slated to start in Sri Lanka shortly.
However, with final assembly scheduled for completion within 10 days on behalf of the LED Street Lights for Colombo, Sri Lanka and LED Street lights and Indoor lighting for the country's Ministry of Fisheries and Aquatic Resources; the Company expects final shipping and delivery dates to commence after the forthcoming holidays or during the first half of January.
The Company believes that the North American and worldwide markets for energy saving streetlights and parking lot lights provides a tremendous opportunity for a new generation of LED lighting, especially those products that are environmentally-friendly and manufactured in the U.S. to a much higher standard than prevailing levels of quality worldwide.
Please see www.apollometro.com for further information on all LED products.
The Viper Networks logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=12434
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.
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Source:Viper Networks, Inc.