WHITE PLAINS, N.Y.,
June 29, 2015 /PRNewswire/
-- Paul Riss, chief executive officer of Pervasip Corp.
(USOTC: PVSP) ("Pervasip" or the "Company"), issued the following
letter today to the shareholders of Pervasip:
Dear Shareholders:
This is an exciting time for us. As many of you know, we've been
implementing a restructuring plan for several months now, the
primary goal of which was to improve our balance sheet and capital
structure to qualify with the anticipated financial and other
requirements of new investors, joint venture partners, licensors
and acquisition targets that we have identified. I'm pleased to
announce that we've been successful in our efforts in that regard,
and we are now poised to execute in the immediate term on our
previously-announced acquisition plans.
We plan to expand on our prior disclosures in the next few days
as we complete and announce the second of our targeted acquisitions
– a revenue-producing retail distribution company servicing the
hydroponic and indoor grow facility market in Denver, Colorado. We have what we believe to
be a novel plan to build value involving that company, planned
additional acquisition targets, and a series of
strategically-positioned products and technologies designed to
improve grow conditions, yields and value.
We see extraordinary opportunities in front of us, and our
technology focus is an essential aspect of our plan to build
shareholder value with those opportunities. We're assembling a
diversified team of managers, scientists, process engineers,
technology developers, and operators with expertise in our target
and other markets. We anticipate making a series of management
additions over the coming weeks and months, starting with the
appointment of our new Chief Science Officer, Dr. Kenneth Hughes.
Dr. Hughes is a creative technologist that specializes in
translating complex technologies into practical agricultural,
cleantech, industrial, consumer, and military commercial products
and strategically building businesses around those products. Dr.
Hughes has over 20 patents granted or pending, with several more in
development. Dr. Hughes received his Ph.D. in Chemistry from
Purdue University and is a former
Chemistry and Biochemistry professor at Georgia Tech.
Dr. Hughes is one of several new team members that has been
working for several months on a sub-contract basis. His role moving
forward includes driving our product and technology development
efforts, as well as helping to bring the results of those efforts
to the new partners, clients and other key relationships we plan to
establish through our retail and other acquisition efforts. We are
proud and excited to have him on board. Additional information on
our new products, technologies and team members will be made
available as appropriate.
In the meantime, we have an exciting summer in front of us, and
it begins this week with the expected completion of our second
acquisition – a transaction which can also be expected to bring
estimated revenues in excess of five million
dollars per year. Significantly, given the market valuations
of comparable companies, we are hopeful that this transaction will
additionally help us to complete both our restructuring plan and
additional acquisitions by the end of the summer at reduced costs
of capital.
We are grateful for your continued support and we look forward
to our next communication.
Best regards,
Paul Riss
Chief Executive Officer
Pervasip Corp.
About Pervasip Corp.
Pervasip develops and delivers proprietary products and
technologies to emerging markets, with a focus on emerging
agricultural 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@verizon.net
914-750-9339
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SOURCE Pervasip Corp.