VIPR Corp (OTCMKTS:VIPV) provided management update pertaining to recent major developments at the company. The company’s new business direction focuses on the acquisition, marketing and development of strategic nutraceutical and related products for home use, personal consumption and apparel, creating an extensive portfolio of holdings, that indicate both ‘value’ and ‘growth’ investment opportunities.
The management speaks
Daniel Roth, the President of VIPR, said that over the last year, they have been successful at creating a stronger platform from which they can continue to advance new business model. Not only have they finalized a new financing deal with a reputed investment group, but they are also moving into the final stages of negotiating considerable new acquisitions and distribution agreements. The management looks forward to completing these distribution and acquisitions deals in coming quarters and has a prosperous 2015.
VIPR received the initial working capital from a future multi-level financing deal with a privately owned investment group. The capital obtained from the financing deal will be utilized by VIPR to acquire, market and develop proprietary nutraceutical products. In addition, the company will be introducing a new company site to better serve its clients and to keep media, shareholders and potential investors updated with company businesses and industry trends.
VIPR expects to make additional capacity and functional enhancements to its corporate website as and when required. The company, previously known as S2C Global Systems, Inc., is a mining entity. It is in the industry of extracting both precious and base metals from known resource deposits chiefly in the ore regions of Mexico. The main focus in on the mining business sector as well as on the iron ore assets based in Michoacan, Mexico.
VIPR Corp (OTCMKTS:VIPV) ended the last trading session with a massive loss of value as it closed down by 26.67%. The stock had opened with a gap up but all those gains were negated by the latter selling pressure. The stock is a highly illiquid instrument as evident from the chart attached but the volume spiked yesterday to 1.2 million, considerably higher compared to the daily average of 89,000. The stock is not traded everyday and that makes it very difficult to make any technical speculation with the lack of data being the main problem.