TROY, Mich., May 17, 2010 (GLOBE NEWSWIRE) -- Viper Networks, Inc. (Pink Sheets:VPER), a telecommunication network operations and technical management company, is pleased to announce the appointment of Khaled M'ohd, as International Financial Advisor for the Company. In his new role, Mr. M'ohd will be responsible for directing and completing the Company's international investments and fund raising activities as well as soliciting new strategic investors who either partnership with the Company in its international business opportunities or become new shareholders having a stake of the company with focus on the value to be added having these inventors on board. Mr. M'ohd will support maintaining and making available current financial statements on an ongoing basis for the Company's international business. His experience in senior-level finance positions and heavy involvement in M&A activity, pubic audits and filings and international budget implementation processes add to his significant financial leadership abilities.
Khaled has more than 14 years of experience in auditing and accounting advisory services and led wide-array of successful audits, due diligences and valuation studies in Saudi Arabia and the Middle East. Before joining Viper Networks, Inc., Khaled was the Chief Financial Officer and later the Managing Director of the telecom sector of a major Saudi Group with an average telecom business turnover of USD 1 billion. Prior to Khaled's Telecom experience, he was a manager in the Assurance and Advisory Services of Arthur Andersen (merged in July 2002 with Ernst & Young) in the Middle East region, and was the lead director of the audit and advisory teams running the assurance and business advisory services for major Saudi Groups and banks diversified business lines.
In summary, Mr. M'ohd's experience outline is as follows:
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Chief Financial Officer and later the Managing Director of the telecom sector of a major Saudi Group in Saudi Arabia spread over 35 cities with more than 500 employees and an average turnover of USD 1 billion (PSTN ,GSM prepaid/postpaid, telephony solution providers, contents).
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Managed the successful mergers and liquidation of Advanced Telecom Company (One of the major companies Khaled was managing) with the other 8 official distributors that Saudi Telecom Company was dealing with to create the largest Telecom Distribution Company in the Middle East with an AVG turn over exceeding USD 5 billion annually.
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Manager in Arthur Andersen the audit and business advisory engagements of industries such as Banking, Investment, Manufacturing, Trading and service companies (hospitals, hotels and entertainment companies). He directed the audit and business advisory team for a Major Saudi Group, one of the Top 10 Saudi Groups that compromise of 38 companies in different industries and fields; and
- Led numerous investment and finance related assignments including feasibility studies, SWOT analysis, due diligence, operational reviews, financial restructuring, and business valuations across a wide range of industries.
"Khaled M'ohd is a versatile, experienced finance executive and managing director and we are thrilled he has joined our team," Farid Shouekani, President, Viper Networks, said. "His hiring completes our senior executive team and brings tremendous value to our organic and acquisition-driven growth plans."
Mr. M'ohd's immediate task will be directing and completing the Company's international investments and fund raising activities, as well as soliciting new strategic investors who either partnership with the Company in its international business opportunities or become new shareholders having a stake of the company with focus on the value to be added having these inventors on board, as well as the assistance and management of the finance and accounting function for the Company's international business.
Except for the historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from the results predicted and reported results should not be considered an indication of future performance. In addition, the factors discussed in the filings with the Securities and Exchange Commission, among the other factors that could cause actual results to differ materially.