WHITE PLAINS, N.Y., May 15,
2015 /PRNewswire/ -- 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.
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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SOURCE Pervasip Corp.