Pervasip Corp (PVSP)

[Arthur]

The last Reverse Split came as a total surprise

On May 13, 2009, the shareholders of the Company approved a proposed amendment to the Certificate of Incorporation of the Company to effect a reverse split of the Company’s common stock and authorized the Board of Directors (“Board”) to file the amendment at any time prior to the next annual meeting. On February 4, 2010, the Board authorized a reverse split of the common stock on a 1-for-10 basis, whereby the Company shall issue to each of its stockholders one share of common stock for every 10 shares of common stock held by such stockholder, as it was a requirement of the investors who are seeking to inject new equity of $300,000. As of March 15, 2010, the date of the reverse split has not been determined.

As of April 15, 2010, the date of the reverse split has not been determined.

As of July 15, 2010, the reverse split has been postponed, as the investors did not require that it be completed at that point in time.

September 22, 2010

Item 8.01
Other Events

Pervasip Corp. (the “Company”) effected a 1-for-10 reverse split of its issued and outstanding shares of common stock, par value $0.10 per share, effective immediately. Following the reverse split, the total number of shares of common stock outstanding will be proportionately reduced in accordance with the reverse split. There will be no change to the authorized shares of common stock or the par value of the common stock as a result of the reverse split. The common stock will continue to trade on The OTC Bulletin Board under the ticker symbol “PVSP”, although the letter “D” will be temporarily appended to the ticker symbol for twenty trading days following the reverse split.

The Company’s stockholders, at the 2009 Annual Meeting of Shareholders held on May 13, 2009, and upon the recommendation of the Company’s Board of Directors, had previously authorized the Board of Directors to effect a reverse stock split within a range of ratios, including 1-for-10, in its sole discretion, at any time prior to the Company’s next annual meeting of shareholders to be held after the close of the 2009 fiscal year.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7475956

WHITE PLAINS, N.Y. — September 22, 2010 - - Pervasip Corp. (OTCBB: PVSPD), a provider of wholesale Voice over Internet Protocol (VoIP) and smartphone applications, has put into effect a one-for-ten reverse stock split. The reverse split will be effective for trading purposes at the opening of the market on September 22, 2010. Pervasip’s common stock will temporarily trade under the symbol PVSPD for 20 business days. Thereafter, the D will be removed and the symbol will revert to PVSP.

As a result of the reverse split, each outstanding share of Pervasip common stock was automatically changed into one-tenth of a share of common stock. No fractional shares will be issued as a result of the reverse split. Fractional shares will be rounded. My Transfer Agent LLC is the transfer agent and registrar for the company.

Pervasip’s Chief Executive Officer, Paul Riss, noted, “After in-depth consideration of our options and input from advisors and shareholders, the board decided that a reverse split of our common stock is in the best interest of shareholders. By effecting the reverse stock split, the company is in better position to complete a potential equity injection that will cancel cashless warrants held by our lender to purchase approximately 8.4 million post-split shares of our common stock. We hope to move forward quickly, enhance our capital structure and share price, complete the cancellation of all the warrants held by our lender, and work toward our goal of eventually trading on NASDAQ once again.”

Sometimes the best-laid plans...