ErectVPS - $7.95 512MB OpenVZ VPS

Via this wht offer. ErectVPS.com have 50% discount for first payment only not recurring discount. You only pay $3.97 first month and you get

• 512MB guaranteed/1GB burstable memory
• 30GB Storage
• 400GB/month data transfer
• 1 IP addresses 
• OpenVZ

You can test their VPS using their test ip here 67.43.62.194. From their test IP their server are in Dallas.