Pervasip Corp (PVSP)

[Arthur]

Ah, yes, the Ojo videophone.

In 2011, Pervasip announced a new business venture: the Ojo videophone:
http://www.pervasip.com/press/pervasip-marketing-initiative-for-video-phones/

Expectations were high: 50,000 videophones with a $29.95 monthly subscription each.

The Ojo was to be pimped on the Home Shopping Network, generating high sales.
http://www.pervasip.com/press/pervasip-corp-sales-update-august-2011/

Sales and revenues never materialized. The Ojo manufacturer, WorldGate, was on the edge of bankruptcy, and finally closed its doors in early 2012. Pervasip had wasted one year on a doomed venture.

I had warned repeatedly IH PVSP denizens that the Ojo could not sell, because it could only establish a video connection with other Ojo phones, not with computers or cell phones as the market wanted, and that the manufacturer was financially broke.

Pervasip lost $4.5 million dollars in 2011, and its O/S went from 6.8 million shares to 99.5 million shares during that single fiscal year. Traders where thrilled by the volume.
PVSP started 2011 at $0.05, fell to $0.01, rebounded to an incredible $0.08 ($0.10 intraday) with the NetCapital announcement, and finished the year a strong $0.02 after the G3 Connect $1M investment news.

Those were the days. Of mega-dilution. How things change.