Viper Networks Reduces Debt by $12.7 Million with Preferred Stock Debt Conversion
Viper Networks, Inc. (OTC Pink: VPER) announced a significant debt reduction of $12,716,841, bringing total debt down to approximately $500,000, a 96% decrease from previous levels.
Sentiment and the balance of points
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Rhea-AI Summary
Viper Networks, Inc. (OTC Pink: VPER) announced a significant debt reduction of $12,716,841, bringing total debt down to approximately $500,000, a 96% decrease from previous levels. This follows a prior reduction of $38,567,237 earlier in the year. The company's stock has experienced remarkable growth of over 1800%. Viper Networks is also engaged in strategic alliances and smart city projects, signaling positive future business prospects. The company is set to file a Disclosure Statement with unaudited financials by mid-November 2021.
Positive
- Total debt reduced by $12,716,841, leaving approximately $500,000 outstanding.
- 96% debt reduction achieved, with over 99% reduction since the beginning of the year.
- Stock growth of over 1800% reported.
- Strategic alliances with Toledo Solar and ongoing smart city projects in Sri Lanka and Greater Chicago area.
Negative
- None.
Details
News Market Reaction – VPER
The recorded move for VPER in the trading session of this news was +17.12%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
TROY, Mich., Sept. 21, 2021 (GLOBE NEWSWIRE) -- Viper Networks, Inc. (OTC Pink: VPER), (Company), an emerging company in the LED lighting products and integrated systems markets, announced today that the Company has further reduced their total debt by
The Company has been working diligently to improve financial performance and had announced a debt reduction of
To date, we have had a very good year with a stock growth of over
Through this financial reengineering, management is demonstrating full trust in the Company’s continued growth and is committed to maximize shareholder value. In addition, Company management expects an active fall season and anticipates new client updates and other exciting developments to be announced.
As per OTC Pink Disclosure Guidelines, the Company will be filing a ‘Disclosure Statement’ with Unaudited Consolidated Financial Statements within the required 45-day period following the three-month period ending September 30, 2021.
For more information see www.ViperNetworks.com or follow us on twitter @vipernetworks.com.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the U.S. Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this release which are not historical are forward-looking and include any statements regarding beliefs, expectations or intentions regarding the future.
Investor/Media Contact: SAG Equity Group at 407.444.5959.
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