Viper Networks, Inc. (VPER.PK) provides voice over Internet protocol (VOIP) communications products and services for consumers, businesses, institutions, and Internet service providers worldwide.
Its products include vPhone, a USB powered telephone device that allows calls to various phone numbers worldwide over its global VOIP network; a USB powered IP phone adaptor that allows a user to connect any standard telephone to a personal computer in order to place calls over the Company’s global VOIP network; a WI-Fi Vphone; and the IP PBX which provides multi functional telephone features and calling services to business users.
The company sells its product through direct sales force, its web site, and third party resellers. It also sells wholesale minutes on its VOIP network to other telecommunications providers through its internal sales force.
While VoIP is expected to eventually replace the traditional telephone system, the immediate market for VoIP devices exists in developing countries where telephone costs are high and call quality is low. As a result, Viper Networks has been setting up its networks in countries backed by customers who make a large number of international calls. Viper Networks has four gateways in Brazil, six in Western Europe, two in Eastern Europe and one in El Salvador as well as Ghana, India, Israel, Sri Lanka and the United Kingdom.
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Viper Networks Inc. (Pink Sheets: VPER) announced in a form NT 10-K yesterday that it is unable to file its form 10-QSB for the period ended March 31, 2007, in a timely manner because it requires additional time to complete the analysis of the accounting issue described below, and to file its annual report on form 10-KSB for the year ended Dec. 31, 2006.Previously on March 5, 2007, the company amended its form 10-QSB for the quarters ended June 30 and Sept. 20, 2006, in response to comments issued by the Securities and Exchange Commission (SEC), to include additional debt securities with beneficial conversion features, disclosures and interest-in-kind expense. The company has not filed its amended form 10-QSB for the quarter ended March 31, 2006, in part due to delays in coordination between its current auditors and the former auditors who originally provided the quarterly review.
As a result of the aforementioned circumstances, the company is unable to file its form 10-QSB for the year ended March 31, 2007, by May 15, 2007, without unreasonable effort and expense. The company does not expect the form 10-QSB to be completed within the extended time frame permitted under Rule 12b-25. The company intends to file its form 10-QSB for the year ended March 31, 2007, as soon as all information necessary to complete such report has been complied and reviewed.
Viper provides voice over Internet protocol (VOIP) communications products and services for consumers, businesses, institutions, and Internet service providers worldwide.