GOOD NEWS That what i call GOOD NEWS, and there more to come.
TROY, Mich., March 5, 2014 (GLOBE NEWSWIRE) -- Viper Networks, Inc. (Pink Sheets:VPER), an intelligent LED lighting solutions provider, is pleased to announce that in partnership with Apollo Metro Solutions, Inc., the Company has received LED Luminaries product approval from the Sri Lankan Ministry of Highways. Furthermore, the Company has forwarded a term sheet from a major U.S. bank to fund a $20 million transaction to finance manufacturing and delivery of Apollo's LED street lights for the initial order from the Sri Lankan Ministry of Highways, Ports and Shipping.
Pending approval, the general terms call for an initial payment of 15% ($3,000,000 US) to Apollo Metro (in partnership with Viper Networks) for the U.S-based manufacturing and delivery of two thousand (2,000) LED street lights within the first 90 days. Thereafter, Apollo Metro in partnership with Viper Networks, is expected to receive $1,000,000 monthly for the manufacturing and delivery of 2,000 LED street lights every 30 days for approximately seventeen (17) months.
This is the first of what is expected to become a continuing agreement to provide superior LED lamps to serve the broader national highway system across the country of Sri Lanka. Additionally, the forthcoming order agreement to consistently deliver LED street lights in bulk increments of 2000 units will serve to highlight Apollo Metro's new, larger manufacturing facility and capabilities; which is expected to directly facilitate new orders from other governmental entities, including the Sri Lanka Ministry of Fisheries (harbors) and major municipalities, including the capital city of Colombo, Sri Lanka.
Great, the know what there doing and there mores news pending...