Investors have not been particularly enthusiastic about the Viper Networks Inc (OTCMKTS:VPER) stock in recent days and it is apparent from the price action in the stock in the past week.
The company, which is involved in the LED lighting products and integrated systems spaces, has seen its stock tank by as much as 38% over the course of the past week. That being said, it is also necessary to remember that there has been no news about Viper Networks during this particular period. In fact, one would need to go back to September 21 for any specific new about the company.
At the time the company announced that it had been successful in cutting down its entire debt load by as much as $12,716,841. It goes without saying that it was a major announcement from the company. Viper Networks has been working patiently to improve its financial situation.
Earlier on this year in May the company had announced that it had managed to reduce its debt load by $38,567,237. The latest reduction in debt was achieved through negotiation of executive compensation as well as through the issuance of 10,597,368 restricted shares of its Series B preferred stock.
