Shares of Viper Networks Inc. (PINK: VPER), a provider of voice over Internet protocol (VoIP) communications products and services, surged in trading today.
VPER shares ended the day 25% higher at $0.0015 on above average volume of 76.07 million.
VPER shares soared after the company announced that it signed a definitive agreement to acquire 49% of Apollo Metro Solutions Inc. The company has transferred funds for an initial amount equal to 12.5% of the total acquisition price.
As VPER has been working closely with Apollo Metro on new designs for an Advance LED Street Lighting System, the initial payment of funds will be used in the assembly line production project for Apollo Metroâ€™s new LED manufacturing facility in South Florida.
VPER is working to secure major LED commercial orders.