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As it sits now-- 0.03 to 0.05 crazy undervalued sitting here.
Power move 🔥🔥🔥
You keep all your current PVSP with a much cleaner balance sheet & a new business operation. Maybe reduced OS?
AND
You receive shares in Artizen. The spin-out. Clean and profitable OTCQB company.
2 pubcos for the price of 1. Must own PVSP to get Artizen shares.
This is going to run hard… buckle up!
Filing of the Form 10 with the SEC.
The dumpage here is brutal, after every PR.
"$15,000,000 in debt into 15% of a newly formed subsidiary"
"A key aspect of this restructuring involves converting over 80% of the company's debt into equity in the new cannabis-focused entity."
Is this going to be good for the new formed Artizen? Sure doesn't look like it, what am I missing here? TIA
Someone needs to add the News to the intro and delete some!! 🙏🙏🙏
Holy sh"t!! PVSP is ready to blow!!
This should be a fun ride now. :)
i dont live on ihub like you
I have real friends made of blood and flesh unvaccinated
you berk and your crew scammed way too many people out of their money you are scum
$PVSP One more step! https://t.co/lupASRxWiP
— Pervasip Corp (@PervasipC) February 1, 2024
Losers with 120 follows since 2014 and post garbage earn the IGNORE Button! Bye-Bye-EEE!!!
The future looks bright for $PVSP
Congrats to all of us that have been bashing PVSP & Zen forever and stuck around to enjoy this awesome news!! Congrats my friends!!
$PVSP One more step! https://t.co/lupASRxWiP
— Pervasip Corp (@PervasipC) February 1, 2024
$PVSP Release The Kraken!! $PVSP
Finally!! PVSP is doing what they said they were going to do 💯💯
"Going to be fun with such a low number of shares available to trade, No Debt, Audited Financials, New Listing on OTCQB, and Profitable!!"
now be kind and go tell everyone in the OTC that this is a great company jsut like you pump all those scams every single day and all they have is lies and dilution
you welcome
Pervasip Announces Restructuring and Spin-OutPress Release | 02/01/2024
SEATTLE, WA, Feb. 01, 2024 (GLOBE NEWSWIRE) -- Pervasip Corp. (OTCPK: PVSP) (“Pervasip” or the “Company”), a developer of companies and technologies in high value emerging markets, is pleased to announce the restructuring of its cannabis operations to convert about $15,000,000 in debt into 15% of a newly formed subsidiary. The restructuring is a prelude to the Company’s previously announced plan to spin that new subsidiary out into a standalone public entity on the OTCQB market.
The Company has completed its final audited financials, which have been instrumental in guiding this decision. A key aspect of this restructuring involves converting over 80% of the company's debt into equity in the new cannabis-focused entity. This move is designed to streamline operations and strengthen Pervasip's financial footing.
It's important to note that the impact of the subsidiary debt-equity conversion and the corresponding dilution at the subsidiary level will not impact the subsidiary common shares reserved for current Pervasip common shareholders in the subsidiary spin out. Thus, the subsidiary spin-out will still involve the 15,000,000 subsidiary common shares reserved for the Pervasip common shareholders as announced in 2023, 15,000,000 subsidiary common shares reserved for the newly restructured subsidiary debt, and the remaining 70,000,000 subsidiary common shares for holders of Pervasip’s Series K Preferred Stock. In addition to this restructuring, Pervasip is embarking on a strategic transition away from non-productive assets, focusing exclusively on higher-margin branded product sales in all of its operating markets. This shift is expected to enhance profitability and efficiency, aligning with the Company’s long-term growth objectives.
The goal through these changes is to position Pervasip in a way that allows the market to assess the Company’s performance based on profitability. We aim to establish benchmarks for stock performance valuations using metrics such as EV/Sales and EV/EBIDTA. Furthermore, this restructuring is anticipated to significantly reduce the company's debt-to-equity ratios, thereby strengthening our balance sheet and overall financial health.
"We are excited about this new phase in Pervasip's journey. Restructuring our operations and focusing on high-margin, branded product sales will not only streamline our business but also enhance shareholder value," said German Burtscher, CEO/President of Pervasip. "The long-announced spin-out of our cannabis assets marks a pivotal step in our strategy to become a more focused, profitable company. We believe these changes will positively reflect in our stock performance and overall market valuation."
This strategic restructuring represents a new chapter for Pervasip, positioning it for sustainable growth and profitability. The company is committed to transparency and will continue to provide updates as we progress through this transformative phase.
Pervasip Corporation
Pervasip Corp., a developer of companies and technologies in high value emerging markets, owns Artizen Corporation and its subsidiary, Zen Asset Management LLC, a diversified asset management company founded to acquire, develop, and support companies and technologies in the cannabis industry. ZAM’s existing clients operate four licensed cannabis cultivation and one processing facility in Washington. Most of the biomass produced by these independent cultivators has been sold historically under the Artizen™ brand, including all-time top selling products in flower in Washington state. Additional information on Artizen-branded products is available online at www.artizencannabis.com.
Forward-Looking Statements
This news release contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as may, would, could, will, likely, except, anticipate, believe, intend, plan, forecast, project, estimate, outlook, or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to the objectives and business plans of the Company; ability to realize benefits from its recent corporate appointments; ability to retain its key personnel; the intention to grow the Company’s business and operations; the competitive conditions of the industries in which the Company operates; and laws and any amendments thereto applicable to the Company. Forward-looking information is based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key personnel and qualified employees continuing their involvement with the Company; and the Company’s ability to secure financing on reasonable terms. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all, as well as all of the other risks as described in the Company’s periodic disclosure statements. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all of such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.
For further information, please contact:
Investor Relations: PACIFIC CAPITAL MARKETS LLC
Investor Contact(s): Drew S. Phillips & Colin Gibson
Contact phone: 858.308.5835 pacificcapitalmarketsllc@gmail.com
https://www.otcmarkets.com/stock/PVSP/news/Pervasip-Announces-Restructuring-and-Spin-Out?id=429131
This is amazing! Thanks for the heads up. I have a lot of shares but will add some more on the open. Thanks for the heads up. Lots of exciting things happening here!
Got plenty.. ;) $$$$$$$$$$$$$$$$$$
You have to own PVSP shares to get Artizen Spin Off shares
The Record date will be established any time now that the audit is completed.
Yep-Be like (Red Bull) Got wings--Weeeeeeeeeeeeeeeeeeeeeeeeeeeeeee $$$$$$$
New Artizen will only have 15m shares in the Trade Float!
Going to be fun with such a low number of shares available to trade, No Debt, Audited Financials, New Listing on OTCQB, and Profitable!!
Outstanding news $$$
Thing are starting to heat up a little. :) $$$$$
Founders are exchanging 15% of their shares for the debt!!!
They controlled 85% of the new company shares, and they will have 70% and PVSP shareholders 15% will not be effected!!!!
Artizen will have NO DEBT !!
No dilution, total outstanding shares will be the same 100M,
Pervasip Announces Restructuring and Spin-Out
Press Release | 02/01/2024
SEATTLE, WA, Feb. 01, 2024 (GLOBE NEWSWIRE) -- Pervasip Corp. (OTCPK: PVSP) (“Pervasip” or the “Company”), a developer of companies and technologies in high value emerging markets, is pleased to announce the restructuring of its cannabis operations to convert about $15,000,000 in debt into 15% of a newly formed subsidiary. The restructuring is a prelude to the Company’s previously announced plan to spin that new subsidiary out into a standalone public entity on the OTCQB market.
The Company has completed its final audited financials, which have been instrumental in guiding this decision. A key aspect of this restructuring involves converting over 80% of the company's debt into equity in the new cannabis-focused entity. This move is designed to streamline operations and strengthen Pervasip's financial footing.
It's important to note that the impact of the subsidiary debt-equity conversion and the corresponding dilution at the subsidiary level will not impact the subsidiary common shares reserved for current Pervasip common shareholders in the subsidiary spin out. Thus, the subsidiary spin-out will still involve the 15,000,000 subsidiary common shares reserved for the Pervasip common shareholders as announced in 2023, 15,000,000 subsidiary common shares reserved for the newly restructured subsidiary debt, and the remaining 70,000,000 subsidiary common shares for holders of Pervasip’s Series K Preferred Stock. In addition to this restructuring, Pervasip is embarking on a strategic transition away from non-productive assets, focusing exclusively on higher-margin branded product sales in all of its operating markets. This shift is expected to enhance profitability and efficiency, aligning with the Company’s long-term growth objectives.
The goal through these changes is to position Pervasip in a way that allows the market to assess the Company’s performance based on profitability. We aim to establish benchmarks for stock performance valuations using metrics such as EV/Sales and EV/EBIDTA. Furthermore, this restructuring is anticipated to significantly reduce the company's debt-to-equity ratios, thereby strengthening our balance sheet and overall financial health.
"We are excited about this new phase in Pervasip's journey. Restructuring our operations and focusing on high-margin, branded product sales will not only streamline our business but also enhance shareholder value," said German Burtscher, CEO/President of Pervasip. "The long-announced spin-out of our cannabis assets marks a pivotal step in our strategy to become a more focused, profitable company. We believe these changes will positively reflect in our stock performance and overall market valuation."
This strategic restructuring represents a new chapter for Pervasip, positioning it for sustainable growth and profitability. The company is committed to transparency and will continue to provide updates as we progress through this transformative phase.
Converting over 80% of debt into Equity in new Artizen!!!
The founders are covering this, PVSP shareholder getting full 15% shares.
Moving to OTCQB, bye, bye to the PINKS
PVSP restructure, $15M debt into 15% of newly formed subsidiary!!!!
Spin Off of Artizen coming soon!!!
PVSP !!!!! It’s show time!!!!!!
Public Company Accounting Oversight Board: PCAOB
Interesting read on PCAOB function and practices.
The PCAOB is a nonprofit corporation established by Congress to oversee the audits of public companies in order to protect investors and further the public interest in the preparation of informative, accurate, and independent audit reports.
The PCAOB is responsible for setting auditing standards for public companies.
https://pcaobus.org/oversight/inspections/inspection-procedures
Wasn’t my boat. Big boat rigged for sailing with mostly big guys as crew. We raced on two different Morgan’s but could only win races with the real rough weather, we prayed for heavy weather. Went from sailing to motorcycles to fast boats to fast comfortable center console fishing boats.
Dang bro, that's quite the sail boat! Never been on one, but maybe one day, I get the opportunity.
No doubt, kids have almost no apprehension/anxiety compared to adults as long as they are swimmers. My kids were 8-12 sailing in heavy storms harnessed in next to me while their mom was below scared to death. I took my brother on an offshore race right after his discharge from the navy. Beautiful weather but :heavy wind/6’ seas on a heavy 42 Morgan. He literally did not speak to me for months after leaving him on a night shift with others while I went below and crashed for a few hours. The constant pounding after each wave and rogue waves scare the chit out of many.
That's hilarious 🤣, more so because I can relate. First time my son and I went out deep sea fishing, I decide to be the tough guy and not take Dramamine, like the wife suggested I take. We had blue skies and sunshine, but also wind and very choppy waters. Sat there turning green with sea sickness while my son sat beside me devouring a hamburger, hot dog, candy bar and a cold beverage and laughing at me the whole trip. Needless to say, no fish caught by me on that trip, lol
Lolololol, at least the day ended better. Getting sick occurs with no partying the night before. It has more to do with anxiety than anything else. Believe me, it can happen to anyone. I’d say the 3 things that affect peeps other than long night before are, rough seas, a real heavy storm with lightning and not being able to see land. The worst happens on sailboats racing which can last a week in the water. Peeps who get sick can have it for days. Best thing is never go out in relatively rough seas without using a patch or taking Dramamine the night before. Even the most beautiful weather can involve 3’+ seas.
Agreed, however, I’m just referring to running Zen and not pvsp. They are currently about 3 years behind the initial projections. All of their excuses involve issues they were aware of before disseminating the projections except Covid. Knowing an industry, although helpful, is not much of a precursor relative to running a growth company.
Democrats urge Biden administration to deschedule marijuana
12 Senate Democrats, including Majority Leader Chuck Schumer, urged the DEA in a letter to remove marijuana from the Controlled Substances Act altogether.
Jan. 30, 2024, 6:00 AM EST
By Julie Tsirkin
WASHINGTON — Senate Democrats are putting new pressure on the Biden administration to ease federal restrictions on marijuana in a new letter to the Drug Enforcement Administration on Tuesday as it considers rescheduling cannabis after it was federally classified more than five decades ago.
The Department of Health and Human Services formally recommended in August that the DEA move the drug from Schedule I to Schedule III of the Controlled Substances Act, or CSA, prompting a monthslong review, which continues.
The letter, from 12 senators led by Elizabeth Warren, D-Mass., and John Fetterman, D-Pa., and signed by Majority Leader Chuck Schumer, D-N.Y., goes further.
“The case for removing marijuana from Schedule I is overwhelming. The DEA should do so by removing cannabis from the CSA altogether, rather than simply placing it in a lower schedule,” the senators wrote in the letter, first obtained by NBC News.
Rescheduling the drug or removing it entirely would have significant implications for the marijuana industry and for cannabis users, some of whom consume it for medical purposes.
Since 1971, cannabis has been under Schedule I, the highest classification of the CSA, along with drugs like heroin and LSD, which the government formally considers to have high potential for abuse and no accepted medical use.
Even so, 40 states and Washington, D.C., have legalized some form of cannabis, for either recreational or medical use, leaving consumers and business owners to operate in a patchwork of changing laws across the country.
The DEA told lawmakers this month that despite the historic recommendation by the Department of Health and Human Services over the summer, it “has the final authority to schedule, reschedule, or deschedule a drug under the Controlled Substances Act” based on scientific and medical evaluation.
The White House had hoped to make a rescheduling announcement close to the one-year mark since President Joe Biden ordered the DEA to review HHS’ recommendation in October 2022 and to use it as a campaign issue at the ballot box in November, according to five sources with knowledge of the situation.
Senate Democrats argued in Tuesday’s letter that the Biden administration should “promptly” remove the drug from Schedule I before it ultimately deschedules it.
“The Biden Administration has a window of opportunity to deschedule marijuana that has not existed in decades and should reach the right conclusion — consistent with the clear scientific and public health rationale for removing marijuana from Schedule I, and with the imperative to relieve the burden of current federal marijuana policy on ordinary people and small businesses,” they wrote.
In addition to Warren, Fetterman and Schumer, the letter was signed by Sens. Cory Booker, D-N.J., and Ron Wyden, D-Ore., who both worked with Schumer to put forward a comprehensive marijuana reform proposal that would end federal prohibition and decriminalize cannabis, legislation that has not gained the necessary support across the aisle.
A similar piece of legislation that would have legalized marijuana nationwide passed in the Democratic-controlled House in 2022, largely along party lines.
Another bill, known as the SAFE Banking Act, would make it easier for financial institutions to offer banking services to cannabis companies in states where the drug is legal and there is bipartisan support for getting the legislation across the finish line. After the bill passed through committee in the fall, Schumer said passing it through the Senate would be a top legislative priority, but a vote has not yet been scheduled.
Meanwhile, Biden has used executive authority to pardon thousands of people convicted of use and simple possession of marijuana, most recently in December.
A national poll commissioned by the Coalition for Cannabis Scheduling Reform, released in December, found that an overwhelming majority of 18- to 25-year-old likely voters — 65% — expressed support for Biden’s efforts to reschedule cannabis, another sign that the issue could help him politically in a tough re-election bid.
Seventy percent of Americans support federal marijuana legalization, the highest percentage ever, according to a recent Gallup poll.
Me and My Best Friend chartered a small boat to go deep see fishing in Cabo San Lucas 5 years ago....I Partied Hard the night before and we had a early time to be there....no good breakfast+hangover+rocking boat on the waves= Me In the Bathroom letting the night before come out....what really sucked..(Feel Free to Laugh Here) Was that the Bathroom door handle broke after I puked and I got Locked in the small room for about 15 or 20 Minutes....IT FELT LIKE FOREVER AND THE BANGING ON THE WALLS I TRIED DID NOT WORK...
..My Best Friend was Drinking and Chatting it Up with the Captain and finally came to see what I was doing...then they were Able to get me out.... Rough Day for Sure.......
After a long Nap I went to the Beach and Got to See a Super Band put together by the organizers of the event we were a part of.....Got to Smoke Out by the Ocean and Hear .....Free Bird !!! Lynyrd Skynyrd Lead Singer Live ( Got to get a Selfie with Johnny Van Zand) and Other Great songs from Boston and Santana...That Night ROCKED HARD .....What A Day....
Today was the loading day, easy money PVSP
I am willing to give German more time before I make that call. He did jump into a debt laced, mismanaged company with the former CEO at the helm. JMO
I am just waiting to see what, if anything, this new Marketing director can do for Zen. Hopefully getting paid based on performance, but I am sure that isn't happening.
Don’t be foolish, you are conflating ‘double count’ with the fact that each trade is both a buy and a sell.
Awe, your feelings must have been hurt. One should take being corrected in a more positive manner and view it as a growth experience. My shares can be worth whatever you think, my accounts/pvsp shares in particular have no feelings, however, if they did they would be laughing at you!!
Zen$
Sounds like a smart plan and hopefully Zen does well. I do think a management change needs to happen. This German is NOT making it happen.
Trading is just a past time for me during the winter. I am to busy to even think about messing with penny stock during my busy season. I just try to pad my nest egg a little, to help boost my retirement fund, when I do decide to slow things down and enjoy retirement.
Just maybe this spin off actually does happen and Zen can carry me into retirement, lol
Nah, even the beers are limited until the trip home and no hard booze. Nothing worse that sick boaters, lol.
Zen$$$
Yep, it was my passion up until almost two years ago when I helped my SILaw start his transportation biz. I think I’ll get back to coast often this summer. Thinking about a sailboat for the Grandkids, my kids grew up sailing and spent ten years doing a lot of offshore racing. I’d get a kick teaching them as would their mothers. Trading doesn’t give that gambling kick any longer
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