A Michigan-based small-cap announced that the company signed a $150-million joint venture agreement with BIET Group. The goal of this venture is to launch renewable energy power generation projects using an innovative hybrid PV-thermal technology. Shares of Viper Networks Inc. (OTCPK:VPER) traded over +80% from yesterday’s close following the news.
Viper Networks is an Indian-based company that operates in LED lighting products. It is primarily involved in the manufacturing and distribution of LED lighting to provide superior turnkey LED lighting solutions for metropolitan areas (streets and highways), parking lots, and warehousing facilities anywhere. Further, it also offers intelligent lighting solutions with cameras, sensors, and wireless technologies. The company is also into providing telecom engineering services in the U.S., Middle East, and Northern Africa. The company derives most of the revenue from the sale of Led products.
Shares soared following the announcement, getting up to a session high of $0.0295/share (+83.2%). This move is a breath of fresh air for longer term investors that have been holding this stock since the mid-February high of $0.08/share.
