Pervasip Executes Debt Modification Agreements to Reduce Debt By $1.4 Million
January 27 2015 - 9:00AM
InvestorsHub NewsWire
WHITE PLAINS, NEW YORK – January 27, 2015 –
Pervasip Corp. (USOTC:
PVSP) (“Pervasip” or the “Company”) today announced its
execution of agreements to eliminate an additional $1.4 million in
debt.
The new agreements bring the Company's balance sheet improvement to
more than $3.3 million when taken with the Company's
previously announced $1.9 million debt settlement with the Pension
Benefit Guarantee Corporation.
"We are pleased to have the support of our creditors as we
implement our restructuring and acquisition plans," said Paul
Riss, Pervasip’s chief executive officer. “We still intend to
eliminate additional debt but the completed transactions have paved
the way for us to meet the balance sheet requirements of our
targeted acquisitions, which we now hope to complete this
quarter."
About Pervasip
Corp.
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.
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to future events or to our future financial performance, and
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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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Additional
Information
Pervasip Corp.
Paul H. Riss, CEO
phriss@pervasip.com
914-750-9339
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