Cheap Stocks: Viper Networks (VPER) Closing Acquisition?

Shares in Viper Networks, Inc. (Pink Sheets: VPER) stock should be on the list of pennys tocks to watch on Tuesday. VPER stock gained 25.81% to close at 0.0039 after shares reached as high as .0045 on volume of over 58 million shares. It may be Memorial Day weekend but the Company’s chief executives of both Aequitas Energy, Inc. and Viper Networks are hashing out details in hopes of reaching final agreement for VPER to acquire 30% of Aequitas Energy.

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VPER Stock Chart:

As per the year ended December 31, 2011, there are 1,28 Billion shares outstanding. The Company reported revenues of $1,055,010 for the year ended December 31, 2011 resulting in a net loss of $559,632. The amount of the Net Loss for the year is almost identical to the amount of Compensation expense for the year.

According to the press release (see here), final contract documents were forwarded to Aequitas executives by VPER‘s legal team after the market closed on Friday. The Presidents of both companies agreed to review final contract terms on Saturday in hopes of hashing out the details before the Memorial Day holiday on Monday.

The PPS of VPER stock is -30% below the level it was when we first covered the sub penny stock in March. However, PPS has jumped 143.75% since May 17th. VPER has to push through its 1st and 2nd Resistance Points of  0.0046 and 0.0052 respectively.

About Viper Networks Inc.

Viper Networks, Inc. provides VoIP products and services through distributors and resellers around the world. Its network of VoIP gateways serves more than 350 countries and regions, and it is unique in offering both network services and equipment to its customers. The Company is a provider of high quality and cost effective VoIP solutions for domestic and international long distance consumers in both the consumer and business markets.

Note: VPER has been issued a “Yield” sign by OTCMarkets which was designed for companies with financial reporting problems, economic distress, or in bankruptcy to make the limited information they have publicly available. The category also includes companies that may not be troubled, but are unwilling to meet OTC Markets Group’s Guidelines for Providing Adequate Current Information.

Viper Networks has updated their Financial results for the year ended December 31, 2011 which can be viewed here.

Bottom Line: The penny stock of VPER will be hot come Tuesday. Take notice that the stock has had another one of its short but sensational runs since May 17 which opens up for some profit taking. Regardless, action will be heavy and if volume exceeds 100 million shares, VPER could push through both resistance levels for the day.

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