WHITE PLAINS, N.Y.,
Oct. 3, 2014 /PRNewswire/ -- Pervasip Corp. (OTC Pink:
PVSP) announced that it entered into an agreement to sell and
license back its award-winning VoIP technology platform.
Pervasip's Chief Executive Officer, Paul
Riss, stated, "We have restructured our operations by
selling a copy of the software we developed to one of our customers
and exchanging fixed operating costs for variable costs, so that we
can continue to be a mobile VoIP company without incurring
expensive overhead. We plan to operate in the cloud, and keep
our monthly recurring costs as low as possible."
"We believe in the power of our cloud-based technology, but
without having the financing that we needed to grow our customer
base, it made more sense for us to extract value from our software
to help us move forward," continued Riss. "Instead of paying
fixed salaries and fixed costs for collocation facilities and
circuits, we are changing our business model, so that all our costs
of providing mobile VoIP services, including technical support and
customer service, are a percentage of our revenue dollar."
Pervasip agreed to receive 40 million shares of common stock of
Valuesetters, Inc. to complete this transaction. Pervasip
continues to own its VoIP technology, but Valuesetters is also an
owner and is operating the software and providing technical support
and customer service for Pervasip.
About Pervasip
Pervasip delivers mobile VoIP and video telephone service
anywhere in the world that has a stable broadband connection.
In addition to international telephone numbers from 57 countries
for mobile phone users, with unlimited inbound calling, it offers
several international outbound calling plans, including some of the
lowest rates to international mobile phones.
The information contained herein includes forward-looking
statements. These statements relate to future events or to our
future financial performance, and involve known and unknown risks,
uncertainties and other factors that may cause our actual results,
levels of activity, performance, or achievements to be materially
different from any future results, levels of activity, performance
or achievements expressed or implied by these forward-looking
statements. You should not place undue reliance on forward-looking
statements since they involve known and unknown risks,
uncertainties and other factors which are, in some cases, beyond
our control and which could, and likely will, materially affect
actual results, levels of activity, performance or achievements.
Any forward-looking statement reflects our current views with
respect to future events and is 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 update the reasons actual results
could differ materially from those anticipated in these
forward-looking statements, even if new information becomes
available in the future.
FOR FURTHER INFORMATION:
AT PERVASIP:
Paul H.
Riss
Chief Executive Officer
Ph: 914-750-9339
phriss@pervasip.com
SOURCE Pervasip Corp.