TROY, Mich., May 22, 2026 (GLOBE NEWSWIRE) -- Viper Networks (OTCPK: VPER) released its first quarter 2026 financial statements. Revenues from the quarter rose to $1.393 million, increasing from $1.307 million in the first quarter of 2025. The growth was primarily due to an increase in revenues from the Over-the-Top ("OTT") business unit.
Operating losses increased to $99,930, from $2,876 in the same period in 2025. The operating loss was primarily due to non-cash expenses, including depreciation and amortization associated with the acquisition of the telecommunications business unit. Depreciation and amortization expenses were $50,090 during the period.
The increase in sales, general and administrative expenses were primarily due to one-time costs associated with licensing and legal fees in St. Lucia and Dominica, the establishment of a new business license in the Middle Eastern part of Asia and marketing expenses in Alabama, Colorado and Dominica in preparation for the launches in those markets. The company also continued to make progress in developing follow-on projects to its Sri Lanka pilot. Details of these licenses and projects will be disclosed in subsequent releases.
"During the period the company made substantial progress in its deployment in Dominica, established a new market in the Middle East and closed on key contracts necessary for its deployments in Archuleta," said Erik Levitt, the company's CEO. "We were also able to make substantial progress in the development of our Mobile Virtual Network Enablement (MVNE) service and anticipate an imminent launch of several new clients. Key contracts are being established to continue the growth of the OTT business unit in both wholesale voice and messaging. All of these developments will contribute to our long-term revenue growth strategy."
On April 6, the company announced its first smart city and mobile network pilot in Archuleta County, Colorado, which will include almost every facet of the Everything Wireless: Telecom+Energy strategy. "Management determined that the prevailing conditions in Archuleta were best suited to our pilot," said Mr. Levitt. "We felt that our goals and objectives were well aligned with those of the community."
ABOUT VIPER NETWORKS, INC.
Viper Networks is a service provider of telecommunications, smart city and energy generation projects. Our "Everything Wireless Telecom+Energy" strategy is designed to integrate mobility, fixed wireless, over-the-top ("OTT") technologies and smart cities into a single platform that can deployed in any market globally. For more information go to www.ViperNetworks.com.
Forward Looking Statements
This press release contains projections and other forward-looking statements regarding future events or our future financial performance. All statements other than present and historical facts and conditions contained in this release, including any statements regarding our future results of operations and financial positions, business strategy, plans and our objectives for future operations, are forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. We operate in a very competitive and rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. Actual events or results may differ materially from those contained in the projections or forward-looking statements. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995
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