Pervasip Provides Acquisition and Restructuring Update
April 02 2015 - 2:30PM
InvestorsHub NewsWire
WHITE PLAINS, NEW YORK –
April 02, 2015 –
InvestorsHub NewsWire -- Pervasip Corp. (USOTC: PVSP) (“Pervasip”
or the “Company”) provided an update on its previously announced
and ongoing restructuring and acquisition efforts.
“We eliminated $1,065,000 in debt
during 2015 and entered into agreements to eliminate an additional
$4,398,000,” said Paul Riss, the Company’s chief executive officer.
“Those amounts collectively correspond to a reduction of our
outstanding debt load by about 73%. Our goal is to eliminate all of
our remaining historical debt by the third quarter of this
year.”
“In addition, we recently completed
the acquisition of 90% of the issued and outstanding equity of
Canalytix LLC, an energy and resource solutions provider based in
Denver, Colorado. That acquisition is the first of several
strategic transactions that we have targeted with a view towards
consolidating a meaningful asset base and presence in the indoor
grow facility markets, both in Denver and elsewhere.”
Canalytix provides 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. Canalytix is positioning its offering to meet
the specific needs of indoor grow facilities, and the company has
allied itself with a Denver-based distributer of hydroponic
equipment to integrate and provide the Canalytix technology to
existing clients.
Riss continued: “We believe that
there are compelling opportunities for the creation of meaningful
shareholder value by integrating innovative new technologies with
existing bricks and mortar infrastructure in the hydroponic and
other grow facility markets. Our goal is to consolidate and build
market share using that approach. We are evaluating a number of
transactions in that regard and will provide additional information
as appropriate.”
About Canalytix
LLC
Canalytix LLC was formed in 2013 to
develop and market energy and resource efficiency technologies and
products, and is currently focused on doing so for indoor plant
growth clients in the Colorado and other qualified markets.
Additional information is available at www.canalytix.com and www.noveda.com.
About Pervasip
Corp.
Pervasip develops and delivers cloud-based technologies
to emerging markets.
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.
Additional
Information
Pervasip Corp.
Paul H. Riss, CEO
phriss@pervasip.com
914-750-9339
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