Pervasip Enters Into Agreement to Absorb Dilution From Debt Conversions
May 15 2015 - 3:45PM
InvestorsHub NewsWire
WHITE PLAINS, NY
-- May 15, 2015 -- InvestorsHub NewsWire
-- Pervasip Corp. (USOTC:
PVSP)
(“Pervasip” or the “Company”) announced today an agreement with
Flux Carbon Corporation (“FCC”) in which FCC agrees to absorb the
impact of common stock issued by the Company to
its secured debt holders who
choose to convert their debt into shares of common stock.
Paul Riss, the Company’s chief executive officer, said “We continue
to work with our shareholders to create value and reduce our debt
burden, and we are pleased to say that the remaining convertible
secured debt will convert into shares of common stock, without
impacting the total number of outstanding shares. FCC is our
largest shareholder and currently owns 1,000,000,000 shares of
common stock of Pervasip. We expect that FCC's agreement to
do so will be sufficient to offset the dilutive impact as we
satisfy our remaining secured debt.”
“We also continue to work on our targeted acquisitions,”
continued Riss. “This new agreement is important to
finalizing and closing our next planned acquisition
transaction.”
About Pervasip
Corp.
Pervasip
develops and delivers cloud-based technologies to emerging markets.
The Company’s Canalytix subsidiary is a provider of advanced
analytics through an integrated cloud-based platform that allows
users to monitor and control greenhouse facilities through the
cloud, including real-time data on energy usage, HVAC systems,
lighting and costs.
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or achievements to be materially different from any future results,
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subject to these and other risks, uncertainties and assumptions
relating to our operations, results of operations, growth strategy
and liquidity. We assume no obligation to publicly update or
revise these forward-looking statements for any reason, or to
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