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Viper Networks Announces Lawsuit Against Greenland Corp.

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SAN DIEGO--(BUSINESS WIRE)--July 23, 2004--Viper Networks, Inc. (OTC:VPER) has filed a lawsuit in San Diego Superior Court against Greenland Corp. (OTCBB:GRLC) for Breach of Contract, Fraud and Rescission, Breach of the Implied Covenant of Good Faith and Fair Dealing and Negligent Misrepresentation in connection with a transaction the two companies entered into in April of 2003.

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Viper Networks is claiming that the contract it entered into with Greenland Corp. wherein Greenland Corp. received 2,500,000 common shares of Viper Networks was obtained by Greenland Corp. through fraudulent means. At the time the parties entered into the contract, Greenland Corp. made numerous material omissions and misrepresentations to Viper Networks regarding, including, but not limited to, Greenland Corp.'s financial condition, as well as the existence of inquiries, investigations and/or litigation pending or threatened by any governmental authorities or other litigants, which would impair or affect the value of Greenland Corp. As a result there was a failure of consideration.

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Subsequent to entering into this transaction, Viper Networks discovered that Greenland Corp. had numerous undisclosed tax liabilities, including unpaid back taxes and penalties and interest. In addition, Viper Networks recently discovered that prior to entering into this contract, the Internal Revenue Service had imposed tax liens against the property and all rights to property owned by Greenland Corp. Viper Networks also recently learned that at the time of the contract, Greenland Corp.'s majority shareholder and controlling Board of Directors up-streamed roughly $1,300,000 from Greenland Corp., which Greenland Corp. also failed to disclose to Viper Networks. Due to the adverse impact of these liens and actions on the part of Greenland Corp. and its controlling Board of Directors, Viper Networks sought to rescind the contract and a return of the respective common stock. Greenland Corp. has at all times refused Viper Networks' efforts in this regard. In addition, after the Internal Revenue Service imposed liens on all property and rights to property owned by Greenland Corp., and during the time Viper Networks was attempting to negotiate with Greenland Corp. in good faith, Greenland Corp. unilaterally and without prior notice to Viper Networks, reissued 250,000 common shares of the original 2,500,000 common shares of Viper Networks common stock to Regents Capital West, Inc. and Thomas J. Beener Legal Services, Inc. After several failed attempts at settlement and further upon this additional conduct by Greenland Corp., Viper Networks was forced to protect its rights and interests of its shareholders by filing its Complaint in June of 2004. Viper Networks is seeking rescission and restitution.

When I report an Abuse of Service incident, what gets done with that information The Policy Enforcement Team investigates each report of abuse received. For incidents originating from Insight network, we will thoroughly investigate and when the offender is located, or Terms of Service Agreement which can be found at our website. If the offender is from another network you should forward your report to that network. Due to the volume of reports received, we are unable to forward information on to other networks.

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Since that time and upon further investigation by Viper Networks, it has been determined that Greenland Corp. has an overwhelming amount of federal and state tax liens totaling approximately $1,700,000 that continues to accumulate and accrue interest and penalties on a daily basis, which is in addition to their significant existing liabilities. rubatex neoprene
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Jason Sunstein, V.P. Finance of Viper Networks, Inc., stated, "It is unfortunate that this venture has resulted in litigation, but it is imperative that the Board of Directors of Viper Networks fulfill its fiduciary responsibility and protect its shareholders' best interests at all costs. As such, we intend to take any and all action necessary to protect the rights of the Company and its shareholders from the wrongful conduct by Greenland. In the meantime, Viper continues to execute on its business plan and work toward its goals and objectives." rubatex pipe insulation
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About Viper Networks, Inc. rubatex 180 fs
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Viper Networks, Inc. has built "Your Internet Phone Company" by refining technology and expanding its state-of-the-art global VoIP (Voice over Internet Protocol) network that allows calls to be placed to any phone in the world at substantial savings using your existing Internet connection, and receive calls through a unique IP-PSTN switching network. Viper Networks is a publicly traded Utah corporation with headquarters in San Diego, California. For more information about Viper Networks, Inc. and a full description of its network of companies, please visit www.vipernetworks.com. rubatex 320
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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 to the factors discussed in the filings with the Securities and Exchange Commission, among the other factors that could cause actual results to differ materially are the following: adverse changes in the business conditions and the general economy; competitive factors, such as rival companies' pricing and marketing efforts; availability of third-party material products at reasonable prices; the financial condition of the customer; risks of obsolescence due to shifts in market demand; and litigation involving product liabilities and consumer issues. Viper Networks Inc. cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Viper Networks Inc. expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the company's expectations or any change in events, conditions or circumstances on which any such statement is based. rubatex rubber
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Contacts rubatex closing
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Viper Networks, Inc. poly products supplies
Jason Sunstein, 800-482-2124
Jason@vipernetworks.com