TROY, Michigan / May 14, 2018 / Viper Networks, Inc. (OTC Pink: VPER), (Company), in partnership with Apollo Smart Lights, an international leader in the LED lighting products and integrated systems markets, with a focus on Smart Cities, is pleased to announce that the Company has signed a Memorandum of Understanding (MoU) with a consortium of 21 cities throughout suburban Chicago, Illinois to establish a Private Public Partnership (3P) to build and operate smart city projects on a revenue-sharing basis.
Viper Networks and Apollo Smart Lights are currently launching Smart City Projects to provide municipalities with the ability to control and adjust street lighting while enabling them to monitor the streets, enhance security and manage traffic; all while significantly cutting costs, reducing the environmental footprint and creating new revenue sources.
With a subsequent transfer of the projects to the public sector in 20 years, this unique business model establishes Infrastructure-as-a-service to maximize corporate revenues while generating revenue for municipalities. The Public Private Partnership project structure dictate that all equipment and services are provided by Viper Networks/Apollo with profit shared according to each service.
The contract term is a 20-year lease, with the assets being on Apollo's books with the intent of being used as collateral for any specific loan amount. With revenue per pole estimates of $5000 annually, the shared revenue income is 40/60 (40% to the Company) for traffic violations, 25%/75% at start for advertising and set rate amount (to be determined) paid by the city for surveillance.
An initial pilot of the Company's smart light technology in one of the partnership cities (Bedford Park, IL), showcases 10 smart poles with smart wireless control, camera and wireless 4G interconnection, digital advertising panels, smart lights, WiFi, and fiber optics interconnection.
The first phase is targeting the installation of 100 smart poles by mid-year 2018, with 500 smart poles installed by the end of the first quarter of 2019 for phase two, and finally the completion of the 3rd phase of 1000 to 1,500 smart poles to complete approximately 2,000 total poles by the fourth quarter of 2019. 2000 smart poles at $5000 per pole annually equals $10 million annually.
To view these remarkable Apollo Smart City Poles created for Greater Chicago municipality partnerships, please click the following link at https://www.otcmarkets.com/stock/VPER/news and scroll down to the bottom of page under 'Presentations' and click on Viper Apollo Smart Cities Deck.
In other corporate news, the Company's accounting firm is submitting Viper Networks' 2017 twelve month audited financials momentarily, to gain full compliance with OTC Market's full listing requirements.
For more information go to www.ViperNetworks.com<http://www.ViperNetworks.com>.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the U.S. Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this release which are not historical are forward-looking and include any statements regarding beliefs, expectations or intentions regarding the future.
Investor Relations: Heritage First Capital // Scott Gibson, 407.444.5959