Pervasip Announces Debt Restructuring Plan
January 13 2015 - 12:05PM
InvestorsHub NewsWire
White Plains, NY - January 13, 2015
- Pervasip Corp. (USOTC:PVSP)
(“Pervasip” or the “Company”) announced that it is in conversations
with several of its creditors and aims to release details of a debt
restructuring plan that will eliminate a minimum of $1.5 million in
debt payable from its balance sheet.
“We are pleased with the early support of our creditors as we move
forward in implementing a debt restructuring plan to strengthen
Pervasip’s financial condition and better position the Company for
future growth, investment and success,” said Paul Riss, Pervasip’s
Chief Executive Officer.
The Company is working with its secured creditors to finalize terms
of a financial restructuring plan which would significantly reduce
debt and interest payments and result in a stronger balance sheet
for the Company.
“We need to restructure our debt before we can engineer any
acquisitions,” Riss continued. “I have been in negotiations
with four of our creditors, and I believe we will achieve a
comprehensive debt restructuring that will allow us to pursue
acquisition targets that we have deemed important to creating
shareholder value.”
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.
Forward-looking statements: 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.
Pervasip Corp.
Paul H. Riss, CEO
phriss@pervasip.com
914-750-9339
Pervasip (PK) (USOTC:PVSP)
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