Well, PVSP has embarked a new course now that their stock stands at $0.0001.
They have created new classes of preferred convertible shares that obliterate the common shareholders remaining equity.
For example Series E shares are convertible into FOUR TIMES whatever the Outstanding Shares count is at the time of the conversion. For good measure, 4 times the O/S + 4 times the sum of all other preferred classes share count.
Also, PVSP has borrowed $60K, a $63K debt as those things go, in a Convertible Note. The note terms requires that Pervasip effects a Reverse Split within 5 months.
Pervasip has aslo sold it main remaining asset (along with 3 of its 4 remaining employees), in a no-cash transaction, to a company that is headed by its own CTO, but no sirree bub, it's not a Related Party transaction, even if the other company address is located in the same church basement than Pervasip....
