Viper Networks And LEDs America Formalizing Multiple Export Marketing Agreements
Final terms of the agreement(s), which should be concluded in a matter of days, is expected to define each country and/or regional territory that Viper Networks will receive exclusivity for, the total number of years for 100% exclusivity, to be followed by annual sales and/or revenue benchmarks for the Company to receive automatic exclusivity renewal.
Additionally, the management at Viper Networks anticipates that any exclusivity agreement signed with LEDS America will include such rights for all current and future products developed, engineered and manufactured by LEDS and all products sold under their LED-O (R) registered brand name.
A 2007 U.S. law requires light bulbs have to be at least 25% more energy efficient starting in January 2012, meaning traditional incandescent bulbs will be phased out. Although some of the replacements have been with compact fluorescent lamps (CFLs), many consumers do not like these longer lasting 'swirl' bulbs for giving off what many say is inferior light.
LEDs America has developed a breakthrough in creating an LCC- LED Cluster Chip technology light source to replace incandescent bulbs. Current products also include replacements for the popular 60W and 40W light bulbs, which are sold under the LEDS America brand name LED-O(R), which with combined features will save over 90% of the energy used in a standard bulb, and 50% compared to a CFL (compact fluorescent lamp), while emitting no UV light and containing no mercury.