Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I finally got it. This was a research report dated in 2005. Googled Viper networks past 24 hours, so I thought it was recent.
VIPER NETWORKS, Inc.: (OTC BB:VPER.PK) Rating: Neutral Price target $0.21/share
Financial Summary
52-Week Range Recent Price (4/18/05) Market Cap Current Shares Outstanding Float Insider Holdings Book Value (per share)
US$ 000’s
$0.10 / $0.72 Sales
2003 2004 2005E 2006E
$433 $4,613 $8,300 $19,800
$0.18 $22 Mn 121.2 Mn 44.9 Mn
Gross profit Operating Income
Net income
297 (1,355) (2,201) (1,411)
4,108 (3,284)
6,756 (3,146)
(3,292)
14,118 (448)
(652)
(7,911) (3,423)
Normalized Net income 33.5% EPS
(652) n/m n/m n/m n/m
(3,292) ($0.06) ($0.08) ($0.03) ($0.00)
n/m PE
Source: Yahoo Finance, SEC filings, analyst estimates.
Summary
We are maintaining our Neutral Rating on VPER and are assigning a price target of $0.21/share. The company has released its 10-K report for FY04 with lower that we expected revenues and earnings. In earlier press releases, VPER announced expected annualized revenues of $22 million in FY04 and expected booked revenues of $14 million in FY04, while the reported FY04 revenues reached only $4.6 million. At this stage there is significant information risk that affects our rating of VPER.
However, based on significant industry potential and impressive growth of VPER’s revenues during FY04, we believe that there a strong revenues growth momentum that will continue for at least a couple of years. There is a significant going concern risk and further dilution to existing shareholders, however should the company be able to successfully go through FY05, it may become one of the important VoIP players and realize the potential discussed in the initiation report. Our current valuation model pointed to a price target of $0.21 per share which combined with the superior company-specific risks warrants a neutral rating.
A major risk to our price target and rating is the significant dilution effect due to the need to issue additional equity to generate cash for operations. The number of basic shares outstanding increased roughly seven times during the last two years. In addition, we are expecting the numbers of shares outstanding to continue to grow during FY05 and FY06 as the company’s operations are cash-starved.
Valuation Analysis
We derived our price target based on four valuation methods: DCF, PER, PSR and P/EBITDA. Consequently, we based our valuation model on the following assumptions:
MAJOR ASSUMPTIONS
Stock Price Shares Outstanding, 000’s Shares Outstanding, 000’s, FY06 Mkt Cap, 000’s
$0.18
121,227
137,727 21,820
Cost of Equity 12.7% Long-term Equity Weight 100% Weighted Cost of Equity 12.7% Cost of Debt 0.0% Long-term Tax rate 37%
-1-
Book Value of Net Debt, $ 000’s $0.00 Beta 1.81
Risk Premium Risk Free Rate Small Cap Premium
For PER, PSR and P/EBITDA we selected the Communication Services Industry TTM multiples.
Valuation Ratios
P/E Ratio (TTM) P/E High - Last 5 Yrs. P/E Low - Last 5 Yrs. Beta Price to Sales (TTM) Price to Book (MRQ) Price to Tangible Book (MRQ) Price to Cash Flow (TTM) Price to Free Cash Flow (TTM)
Communication services
15.23 28.93 11.10 1.28 1.92 2.52 5.84 6.94 21.91
Technology
25.93 43.94 17.04 1 2.75 3.61 6.11 14.65 26.71
S&P 500
20.83 41.15 15.56
1 2.84 3.86 7.14 14.8 25.39
US$ 000’s
EBIT* EBIT (1-T) Dep & Amort (-) Cap Ex (-) Changes in Non Cash Working Capital Free Cash Flow
FYE05
(3,146) (3,146) 500 (1,000)
(1,000)
(4,646)
FYE06
(448) (448) 600 (1,000)
(900)
(1,748)
FYE07
2,556 2,556 600 (1,000)
(400)
1,756
FYE08
4,857 3,060 1,000 (1,000)
(150)
2,910
*due to large NOL accumulated, we applied the income tax only to the terminal value earnings.
Tax Effected Cost of Debt 0.0%
Long-term Debt Weight 0% 4.0% Weighted cost of Debt 0.0% 3.5% WACC 12.7% 2.0% Terminal growth 6.5%
Source: http://yahoo.investor.reuters.com/MG.aspx?country=US&ticker=NTOP.O&coname=NET2PHONE+INC&mxid=100097557&target=% 2fstocks%2ffinancialinfo%2fratios%2fvaluation&cotype=1&page=default
Our DCF model produced the following cash inputs for FY05-FY08:
Terminal Value
47,387
Due to the higher risk of VPER, we assumed a 25% discount to valuation multiples to account for small cap, low trading volumes and Pink Sheet trading.
Discounted Cash Flow, $ thousands
DCF stream DC terminal value Total DC Enterprise Value
(Less) Interest Liabilities Equity Value Equity Value Per Share
-2,388 31,647 29,259 (50) 29,309 $0.21
P/S valuation, $ thousands
Revenues FY06E 19,800 Industry 1.9 Premium (Discount ) assumed -25% Company traded at multiple 1.4
Our PE and EBITDA valuations did not produce meaningful results as the company will continue to be in a growth stage in FY05 and FY06 and will not have reached meaningful profitability, so that EPS and EBITDA multiples could be applied.
Weight of methods
DCF 50% $0.21 P/S valuation 50% $0.21
-2-
Equity value Price target
28,512
$0.21
Weighted target price $0.21
OUR PRICE TARGET IS A SIMPLE MATHEMATICAL AVERAGE OF THE DCF AND PSR CALCULATIONS, NAMELY $0.21/SHARE. THIS PRICE TARGET CARRIES A HIGHER THAN AVERAGE DEGREE OF RISK BECAUSE OF THE LIMITED OPERATIONAL HISTORY OF THE COMPANY UPON WHICH MEANINGFUL FINANCIAL FORECASTS CAN BE MADE. ALSO, THERE IS A SIGNIFICANT GOING CONCERN RISK BECAUSE IN ITS CURRENT INCIPIENT STAGE OF DEVELOPMENT VPER DOES NOT GENERATE SUFFICIENT CASH TO SUPPORT OPERATIONS. MOREOVER, IN ORDER TO SIGNIFICANTLY INCREASE SALES AS PROJECTED, IT WILL HAVE TO INCREASE MARKETING AND PROMOTION SPEND, WHICH WILL BE PRIMARILY A CASH EXPENDITURE. WE BELIEVE THAT THE COMPANY HAS AN INTERESTING STRATEGY FOR THE VOIP SPACE AND WILL MONITOR CAREFULLY FURTHER COMPANY DEVELOPMENTS AND ADJUST OUR FINANCIAL PROJECTIONS AND THE PRICE TARGET ACCORDINGLY.
Financial Highlights
Strong revenue growth
VPER reported revenues of $4.6 million for FY04, which is ten times higher than FY03 revenues. While VPER is in the phase of rapid growth, we anticipate that the triple digit growth of revenue will continue for at least a two or three years.
$ Thousands 2003
Revenue 433.4
2004
4,612.8 504.6 -3,284.0 -7,910.9
10.9% ($0.08)
% Chg
964% 270% n/m n/m
-20.6% n/m
Gross profit Operating profit Net profit
Gross margin EPS, $ basic Source: SEC Filings
136.5 -1,355.4 -2,200.9
31.5% ($0.06)
During FY04, VPER tested for impairments the value of intangible assets, which resulted in additional expenses of $4.5 million. We do not anticipate the company to incur additional impairments in the foreseeable future. We also expect expenses to grow at slower pace in the next two three years and project that by end-of- FY06 VPER should break-even.
On an annual basis, VPER reported a net loss of $7.9 million in FY04, compared to FY03 net loss of $2.2 million. At the same time, basic loss per share for FY04 was $0.08, compared to FY03 when the company had a basic loss per share of $0.06.
The ability to continue as a going concern
As of December 31, 2004, VPER had cash and equivalents balance of about $47 thousand. During FY04, VPER financed its operations mainly through equity issuances and loans from shareholders. The auditor also qualified the financial statements because of the ability of the company to continue as a going concern.
$ Thousands
Operating Cash flow Investing Cash flow Financing Cash flow
Cash at the beginning of year Cash at the end of year Source: SEC Filings
FY03 FY 04
-463 -1,728 -28 -936 657 2,539
4.7 170 170 47
-3-
The company has been generating losses from inception, has a negative working capital and an accumulated deficit that raises doubts about its ability to continue as going concern. Moreover, in order to continue the implementation of its business plan, VPER will have to raise additional external financing. However, up to date VPER has not received any commitment for additional financing. According to VPER’s management, the company needs at least $1.3 million in cash to cover its anticipated operating expenses for the twelve month period thereafter. During the first four months of FY04 VPER has announced several instances of additional equity issues to generate cash and cover expenses, as outlined below.
Dilution effect due to significant equity issuance
The number of basic shares outstanding increased roughly seven times during the last two years. In addition, we are expecting the number of shares outstanding to grow further as the company’s operations are cash- starved.
140 120 100
80 60 40 20
0
Basic shares outstanding, end of year, millions 12 1.2
78.8
17 .6
2002
2003 2004
Source: SEC Filings
Summary of the latest fundraising initiatives
Description
Stock options to Officers
Private placement of Equity
One year services agreement with Rhino Capital, Inc. to obtain a listing on a national stock exchange, to raise capital and to manage investor relations.
Stock options to Officers Private placement of Equity
Loan from an Officer Source: SEC Filings
Date
January 31, 2005 February 2005 February 2005
Shares issued
5,150,000 3,000,000 1,250,000
Proceeds
exercisable at $0.20 $180,000
March 8, 2005 March 2005 Q1FY05 $115,000
3,000,000 3,011,111
exercisable at $0.23 $271,000
In addition, on February 4, 2005, VPER entered into five stock subscription agreements for an aggregate of 33,333,335 shares of its common stock in exchange for $5,000,000 in US Treasury Bonds, with both VPER’s shares and the US Treasury Bonds being placed into escrow.
Concurrently with the execution of the agreements, VPER purchased from Cogent Capital for $1 a call option to repurchase at the end of two years 80% of the shares of common stock sold at the then current market price. Also concurrently with the agreements, VPER entered into an equity swap arrangement with Cogent Capital for $50,000 and 3,333,333 shares of VPER’s common stock that entitles VPER to receive and obligates VPER to
-4-
pay the price return of 75% of the shares issued in two years, or sooner if the shares are registered for sale under the Securities Act of 1933. The equity swap also provides for the exchange of certain cash flows, as defined in the agreement.
Development of distribution network
On April 13, 2005, VPER announced that it had appointed, Elex Computer SL as an authorized distributor of its products and services in Spain, Portugal, Andorra and Southern France. Elex Computer SL has already placed an initial purchase order for inventory and a blanket purchase order for an additional 500 vPhones.
Industry outlook
Voice over Internet Protocol is also proving to be an attractive communication service and will show significant growth. ISPs, cable companies, traditional telecom carriers etc. compete in this emerging industry.
Cable companies are becoming more aggressive in deploying VoIP to add voice to their bundle of services. In fact, cable companies had gained more than 3 million telephone subscribers by the end of 2004 and have emerged as a potent competitor to other data transport services.
According to Allied Business Intelligence, the global VoIP market will grow from a seedling market of $46 million in 2001 to $36.5 billion by 20081. In addition, Allied Business Intelligence mentioned that enterprises will move their voice from traditional networks to data networks at a rate that will create a $16.5 billion IP-PBX market worldwide by 20062.
According to Jupiter Research, Voice-over-IP telephony will grow from approximately 400,000 U.S. homes in 2004 to 12.1 million by 2009. The researcher said VoIP telephony would reach 10% of U.S. homes over the next five years and 17% of broadband subscribers would sign up for VoIP phone services.
Currently, the major VoIP market is international calls market, due to high prices charged by Public Switched Telephone Network (PSTN) companies for such services. VoIP is gaining market share from PSTN companies in this filed, taking away about 2-3 percentage points per year.
International calls traffic
VoIP Traffic (billions of minutes) PSTN Traffic (billions of minutes) VoIP Share of International Traffic
Source: http://www.telegeography.com
1998 1999 2000 2001 2002 2003
0.2 1.7 6.0 10.1 18.0 22.2 93.0 108.0 132.0 146.1 155.2 173.8 0.2% 1.5% 4.3% 6.5% 10.4% 11.3%
2004P CAGR
31.1 143% 194.6 13%
13.8%
1 http://www.jefferson.com/newsroom/index.asp?section=newsDetail&newsid=142 2 http://www.cconvergence.com/shared/printableArticle.jhtml?articleID=8707174
-5-
Financial Projections
Net Revenues
Cost of revenues
Gross Margin
General and administrative Equity loss from unconsolidated subsidiaries Loss from operations
Realized gain on marketable securities Interest expense Bad debt expense Other income
Total other income (expenses)
Loss before extraordinary item
Impairment of purchased intangibles
Net loss
Basic loss per share Weighted average number of shares outstanding
2003
433,376
296,853
136,523
1,462,566 29,400 (1,355,443)
8,173 (60,495) 0 (3,048) (55,370)
(1,410,813)
(790,041)
(2,200,854)
($0.06) 37,243,157
2004
4,612,783
4,108,185
504,598
3,660,801 127,800 (3,284,003)
15,761 (73,060) (83,712) 2,327 (138,684)
(3,422,687)
(4,488,238)
(7,910,925)
($0.08) 101,961,298
2005E
8,300,000
6,756,000
1,544,000
4,600,000 90,000 (3,146,000)
0 (47,520) (98,551) 0 (146,071)
(3,292,071)
0
(3,292,071)
($0.03) 128,351,899
2006E
19,800,000
14,118,000
5,682,000
6,100,000 30,000 (448,000)
0 (40,000) (163,617) 0 (203,617)
(651,617)
0
(651,617)
($0.00) 136,226,899
2007E
34,650,000
23,493,750
11,156,250
8,600,000 0 2,556,250
0 (40,000) (245,425) 0 (285,425)
2,270,825
0
2,270,825
$0.02 140,313,706
Sergiu Lisnic, CFA is a Senior Analyst with Spelman Research. Prior to joining the company, he worked as an analyst for Evanston Capital Advisors for a year and a half, and subsequently served for two years as a financial analyst with a gas distribution and a FMCG company. He was primarily responsible for financial statement analysis, budgeting and reporting to shareholders. He earned the CFA title in September 2003.
Spelman Research Associates, ltd, is an independent fee based research, publishing and distribution firm whose contract analyst adhere to the ethics and standards of the Association for Investment Research Management. The views expressed in this research report reflect the analyst’s personal views about the issuer and its securities. Opinions and recommendations contained in this report are submitted solely for advisory and information purposes and are not intended as an offering or a solicitation to buy or sell the securities mentioned above. The analysts are responsible only to the public and this report is not a service to the company. We received a fee of $19,500 from the company for one year’s coverage. We do not inform any company in advance of the nature or conclusions of our analysts’ reports in advance of paying the fee nor can a company withdraw from coverage before the expiration of the one year term. Neither the Analysts nor the company own equity or debt securities of the companies on which our contract analysts report. More information about Spelman Research’s policies are available at www.spelmanresearch.com.
Spelman Research Associates, Ltd., 545 Madison Avenue, Suite 200, New York City, NY 10022 Phone: (212) 838 5520 Fax: (212) 838 22 13 Web: www.spelmanresearch.com Email: info@spelmanresearch.com.
-6-
Could somebody try to download this pdf and share. For some reason I couldn't.
They are suggesting viper should be valued at $0.21.
VIPER NETWORKS, Inc.: (OTC BB:VPER.PK) Rating: Neutral Price ...
Our current valuation model pointed to a price target of $0.21 per share ... A major risk to our price target and rating is the significant dilution effect ... ... www.spelmanresearch.com
http://www.pdfbooks.info/tag/share-price-target
Sagan, perhaps you should follow up with an email asking where is the update, as we are now in the middle of Sept.
You are right it is not right. But nobody is getting my shares at these prices, I will wait to see if they finally get it right.
Thanks for the links "waitingonviper".
The glove gets Microsoft award.
http://www.andhranews.net/Business/2011/IneedmdR-Be-Honored-Annual-MicrosoftR-Health-17500.htm
Here is the PR when Viper closed agreement with ineedmd
http://www.healthtechzone.com/topics/healthcare/articles/87943-viper-networks-enters-into-agreement-with-ineedmd.htm
Based upon Viper's projections, I look to the following statement where for 2009, they came in about half. If they did $25 million in 2010, I would be happy. That's also a number that might entice the owners of the office building to accept the terms. Lack of information on if they closed on the deal for so long is not good.
Even if they didn't, I would not be too concerned. Leasing would provide a better financial picture.
If they did $25 million in 2010, I could see better progress to forecast in 2011 as they ramp up sales with BSNL.
Viper Networks, Inc. has projected that its interest in this Joint Venture will earn revenue of $15,000,000 for 2009, growing to over $50,000,000 for fiscal 2010. Viper will generate revenues through network operations and technical management fees, as well as an equity ownership stake.
okay Viper, it's early September, show us the financials and give us a realistic update.
Sagan, thank you for the update and your perseverance.
Looking forward to the PR and hopefully financials attached.
I used the v phone when they first started. It worked fine for the most part. I sure they have worked out any minor glitches they had back then, although I haven't used it for years.
You are right, the market cap doesn't even reflect any sort of valuation for the $4 million in annualized sales of the sub.
Since we are still in the dark on the office space, I have to wonder if this will go through. Why in the blazes would they announce something if they didn't think it would follow through within weeks, I have no clue.
I hate the wait, but either this baby is bankrupt and worth zero to me or we get financial reports and real price discovery.
Long but tired of this shit.
Found this segment from a resume after googling viper networks. Provides a little insight into what happened in 2004-2007.
Viper Networks, Troy, MI Dec 04 to Mar 07
Operations Manager of International Operations
? Defined company objectives, planned business strategies, and implemented business processes and budgets, headed product development, and evaluated financial performance
? Developed thorough HRM procedures and employee performance software packages according to company needs
? Developed a customer-focused culture focused on enterprise solutions development
? Hold weekly and monthly team meetings to set team goals, resolve issues, and discuss improvements in technology and business processes
? Successfully facilitated a merger between Mywebfone.com and Viper Networks, managing legal and licensing issues between the companies
? Negotiated a co-marketing and ITSP licensing partnership with Aircell to enable expansion into VoIP services, saving over $5Mil/yr in expenses while improving market position
? Partnered with various ISPs to increase exposure and improve service to our customers
? Positioned the company uniquely in the market by providing 24x7 VoIP service and support along with technology education for potential clients
? Developed, Tested, Debugged and Implemented CRM Solution
? Helped in developing, testing, and debugging predictive dialers, and IP-PBX systems
? Introduced new vertical business to the company including call center training and consulting
? Defined company objectives, planned business strategies, and implemented business processes and budgets, headed product development, and evaluated financial performance
? Conducted site selection, lease negotiations, staffing, and training, establishing US headquarters with two branch offices in India
? Sourced and negotiated interior designers to create a professional work environment
? Hired, trained, and coached staff; conducted performance evaluations and identified key personnel for advancement into positions of higher responsibility; developed employee retention programs
? Worked with multiple vendor product lines like Cisco, Quintum, Venture Comm. and other generic suppliers of VOIP to provide cost effective and reliable BPO, VoIP, and telecommunication projects solutions to our customers
? Built a solid client base and cultivated relationships with corporate giants including National Bankcard Corporation, Nationwide Insurance, Citibank credit card marketing campaigns, and other clients; equipped call centers and BPOs with VoIP technologies
? Supported and launched www.mywebfone.com, working closely with the technical team
? Successfully marketed company products utilizing effective direct marketing, telemarketing, channel partnering, e-commerce, mass emailing, networking, and smart advertising techniques
http://waytogulf.com/gulfjobs/Sr.-Business-Analyst/3606
Great, the more shareholder pressure the better. It's not right that vper can divulge financial information to convince somebody to sell office space but not let the shareholders know the same information.
It's also not right that they divulge the same information to family and friends to convince them to invest.
I don't know what vper should be valued at, but without the financials and whatever forecasts they provide investors, they are screwing current shareholders and providing opportunity to others.
No reply yet. I doubt he will, but if he receives more pressure to release info, perhaps he will give us at least a new shareholders update.
Thanks.
Just to let everybody know, I sent Farid a note through their contact us form on their web site, and requested regular (quarterly) updates or as news warrants. I was appreciative of what he and his family and friends have done for Viper, however I said as a shareholder I also want to hear about progress.
Use your own words/emotions but please do the same and keep it polite.
My mistake, vper's sub had $2 million for six months, rather than the quarter. I guess I must still be dreaming. Sorry, but I will still hold to see how things finally materialize. No point to sell at these prices with so much news to come.
Just an opinion, although I think Farid is more interested to build up vper to be more like 8X8
ticker eght
http://finance.yahoo.com/q?s=eght&ql=1
They currently have a market cap of around $240 million with $70 million in sales.
Based upon annualized sales from the sub of around $8 million, plus success with BSNL, this might not be to far to dream about.
Insiders are not selling, but they are still investing, so I for one, still have hope.
Player62, the previous ceo, Weaver and his buddies used vper to generate cash for themselves when they were selling at .80.
If Farid was selling, we would see huge volumes and I doubt at these share prices he would get out what he has put.
If we get back up to .80 and you see high employee sales, that's when you need to worry.
Agreed truethat.
Farid - Give us the facts not press releases!
You have a shareholder mutiny on your hands.
The shareholders have supported Viper Networks throughout many years of lean times. Don't tell us you are buying office space and now after more than three months, still no closing. What's the point, to add a fraction of a cent to the share price.
Publish the 210 accounts and give a pro-forma for the first half of 2011.
We all seem to maintain respect for you and your integrity, but we need to be kept fully informed.
Ix2a. That's the first I hear of that. Some time ago, there were a few companies that were prosecuted for that, and vper was not one of them to my knowledge.
I rather doubt that Farid would release false and misleading information, but I don't doubt he releases optimistic timeframes and sales forecasts. It's okay to be upbeat, but he needs to follow through with releases on actual achievements.
In part, this has started with the release of $2 million in sales for the quarter for one of the subs. This seems to be sustainable, giving us at least a base of $8 million plus whatever they get from agreement with BSNL. I would hope we are at a level of $20 million plus. That would at least justify Farid's negotiations over the office building at $ 6 million.
Waitingonvper.
Like you, I also didn't look at the share price for extended periods of time. Since late last year, my hopes were up that we would see some progress, however it has now become a pain to wait, anticipate, etc.
I would prefer if Farid tells it like it is, rather than say the financials will be out soon and 8 months later we are still waiting.
As for the coming chaos, you might enjoy following http://www.tfmetalsreport.com/
He set the site up to follow the PM markets, however he is also preparing. In the comments section, there are many good traders offering diversified opinions.
Well oldviperman, I guess it's just you and I left. I probably bought vper at about the same time. Since no trades are happening today, the longs and broken limbs are in control.
The ask is higher than it has been in a while. The worn and weary have left. After 8 years or so, they won't get my shares until I see what this company is truly worth.
This means the financials and progress with BSNL. With the office deal for $6 million, I can't imagine they don't have some reasonable numbers and future prospects.
Just hope it doesn't take another eight years.
LOL, oldviperman, at these levels if the limb breaks, there is nowhere to fall.
I agree with you of course. Either our shares are going to be worth nothing or trade in these ranges until and if they start to report the 2010 financials and provide some sort of believable numbers for 2011.
I was expecting more regular updates after Farid said he would do so back before Xmas. Hopefully he has handled any issues that prevented him from doing so and we get updated soon.
Well, just on the sales they state below, vper should be trading much higher than its' current market cap. Add the rest at any reasonable or wild guess, and we should be way higher. Financials need to get out NOW for 2010 and they need to provide a shareholders update for 2011.
In other news; the Company’s Communications and Wireless Services division based in Riyadh, Saudi Arabia, has now booked over $2,000,000 (USD) in business for the initial six month period, which ended March 31, 2011. Further financials can be expected as the Company’s accounting firm completes the 2010 fiscal end year for submission to the OTC Markets.
It's time Farid gives us a shareholder update on all of vper's areas of business. As a long term shareholder, I am pissed off that vper does not provide regular updates. Even if it is bad news, we have a right to know what they are doing about it. For God's sake, it is not as if we can get a lower share price.
Come on Farid, show us the integrity I believe you to have. If you couldn't close the deal on the office space, fine, you are making progress in other areas. Don't be afraid to say I screwed up, people have more respect for that than somebody who hides failure. Be a leader - communicate!!!!
It is difficult to get accurate DD on Viper however here is a good background article.
http://blog.macroaxis.com/2010/09/15/tsunami-alert-on-viper-networks-vper/
You can get the 2008, 2009 financials on pinksheet.com
It's been a long frustrating trip for us longs, but I am hopeful for a a real pop to reasonable valuations.
The Top 5 New Voip Products
July 8th, 2011
Viper's V-Phone made the list.
http://www.grabthebasics.com/voip/the_top_5_new_voip_products.asp
I can certainly understand how you feel, as I have been in vper just as long. I do put it down to a teaching moment and will not touch pinksheet stocks again. Instead, I put my money in safe things like BP just before the oil spill.
I believe you are correct about the management and their private interests, however believe that is only correct about the previous management being Weaver. You may recall that they were selling shares when it was a buck or so. Weaver is long gone and doing it again with another company.
I do not believe that to be the case with Farid, as he and his family have been putting money into the company believing it to be a good investment. He also seems to have been able to convince others of the same. I would not sell too quickly, and wait for the financials and the progress with the office space. They claim to have used a much higher valuation of the shares, which will hopefully be confirmed soon.
As for the capital structure, Farid has indicated he will clean that up as cash flows are generated. In this regard, if we start to see trading volume pick up, we will know good things are around the corner.
Good luck
I guess we should give him the benefit of the doubt and remain positive. After all, in the April PR, he said the wireless devision had $2 million in sales for six months. This is up 25% from his prediction for the group late last year.
LOL, when I read your note, I thought you meant 12/2011. When I re-read it and saw 12/2012, you are patient.
At these prices, I just view my shares at a zero value or the potential to be something. vper needs to start now to show that investors are worthy to consider them and hold over time.
So far they have underperformed on what they say they are doing and actually reporting achievements towards those goals.
The office building is the latest example. Why issue a press release in April saying they will close the deal and here we are in July and still no confirmation.
They owe the shareholders an update on this and regular updates, at least quarterly, on progress. Without that, we will just have a few guys trading shares up and down to make some pocket money. I am not interested in making pocket money and therefore respectfully request Farid to keep his promise to keep the shareholder up to date with regular PR's.
The last hope I have, is that at least we know Farid, family and friends have a lot of skin in the game.
Good to see that BSNL is putting more emphasis on international calling cards. Also good to see that Bahrain and Singapore are listed. Just wish the vper would get their act together and get the 2010 financials out as well as sales for the first half of 2011 and reasonable expectations for the year.
http://www.bsnl.co.in/
No I never did get a reply. Starting to feel a little long, old and tired vper.
I won't sell my shares until we see what they are really worth, but frustrating it is. The wait for news is way too long. Why the blazes they say they are buying office space and don't close the deal within a reasonable time I have no clue.
Why have the PR? To move the share price from .00000000001 to BS.
They need to say what they are doing and achieve reasonable goals.
I was thinking the same thing. Have not seen anything new on the internet, with the exception that BSNL recently lowered their calling card rates to/from Bahrain, among other countries.
The last I heard, Viper had settled their lawsuits and do not have any current ones.
I suspect the next news will be the closing of the office space however this is taking longer than I thought.
Just waiting to see the 2010 financials and news on why they need such a huge office space. It's big enough for 250 or more employees.
Until we get the news, the trades are typical small, where we get trades of a couple of bucks at a low price, trying to scare the longs to let go.
I am not sure this applies to vper. They were just recently re-registered or something similar. I would assume they are given time to catch up as they have now provided 2008 and 2009 with 2010 supposedly on the way.
In any case, it certainly is a warning sign that Viper should her loud and clear.
Well, nice to see zero volume today. Shows the guys trying to manipulate the longs are not winning. Now we need Farid to deliver the news and financials.
Hang on, it has to be coming based upon what I have said in the past.
I would agree it was a wreck when Weaver was running the show, he had the ability to do the talk but couldn't carry out the vision.
We are all taking high risk as with any pink sheet company, however Farid has stuck with it. That's the only reason I won't sell, as I prefer to sit tight and wait and see why he justifies buying the office space.
Heck, the market cap of vper is about the same as one months sales from one sub. Nice to see zero volume so far today. Shows most are willing to wait and see. Of course we might see another 100 shares sold later as the MM's play with each other.
Don't know how long it should take to close on the office space, but that is likely when we will hear a lot more. Hopefully soon.
Not sure what is going on, however based upon this press release from last June, we should shortly be receiving word that vper achieved its' target of $300 million in sales.
http://ih.advfn.com/p.php?pid=nmona&article=43122498
Time to put more pressure on Farid to tell us what the heck is going on.
Appreciate the fact that he backs his words up with his/ & family money, and can negotiate 19,155 sq ft of space, worth $6 million, but I would like to see what's really happening.
Farid. It's time to share with your shareholders not just your family and private investors. Please!!!!
Who are the idiots selling at .0012 while the mm's collect over a million shares and then manipulate the price back up to .0022 with just a few shares.
Stay long stay strong, don't sell anything at market. You are allowing them to steal from you. If you have to sell, always have a limit order. These guys will sell 100 shares at a low price and pick yours up only to repeat the exercise.
Microsoft has nominated ineedmd for Health Users Group award. Well, you have to compliment Farid for choosing to work with ineedmd to implement their tele-health technology.
When we finally do get updated on progress, there is a good probability we will be pleased. Hope it is sooner rather than later as we have so far experienced.
http://www.marketwire.com/press-release/ineedmdr-to-be-honored-at-annual-microsoftr-health-user-group-conference-1506734.htm
Oh wow, somebody sold 550 shares for 93 cents. I am so excited.