Pervasip Corp (PVSP)

[allenc]

I am with you. Yea, kind of odd that we are not seeing revenue growth.

[DSherman]

I believe you have missed the premise here. I’m not talking about gross/net profit and expenses. Despite upgrading facilities, leases, partnering with other growers and expanding operations the Co has been on a NO revenue growth trend for years now. Also, don’t think for a second that Zen will be debt free except from old pvsp debt/CDs. The Corp expenses now listed under pvsp will remain with Zen as a public entity re financial reporting, audits and reporting.

[allenc]

Cost of Goods Sold, Payroll Expenses and taxes, wipe out all revenue generated. What we have going for us post spin out of Artizen is a much leaner share structure with minimal debt. I don't expect much change in term of Net profit, JMO

[36Knuckle]

This stat tells a lot...if pot market turns around...we have the numbers to turn the sp around...

Followers 858 Posters 2454

[DSherman]

Don’t know what is going on, upgraded facilities, increased production/capacity and expanded operations = no revenue growth??????? Not adding up imo!!
Zen

[Urocka]

I hate to think this, but They Might Be Getting Too High On their own Supply....Some Stoners are Focused and Motivated...Some...Not Most....

Some Just Enjoy where they Are for a long time...the MJ helps with that complacency.... Others have goals and make them happen...Successful musicians come to mind...Wish we could get some Artist Sponsors from Seattle Area.... Any Promo Campaign would be nice to see....although they are tight on money it seems....

WHEN ZEN COMING??

WE Shall Find Out!!

[DSherman]

I don’t know that it would have had much of an effect compared to no growth. Don’t forget there was no growth despite the upgrade of facilities and increased areas of operation; I have a hard time grasping this from an operations perspective. There is no discussions about the Zen on the board other than BS and talk about the spinoff. I believe the management to be very apathetic about their own circumstances and lack of forward movement. The newco will need new experienced public co growth execs.

[Urocka]

I wish they would have actually done the 2 Billion share reduction the Board Voted on in July of 22....thatv would have at least made the Share Structure more appealing to investors....the lack of Growth hasn't helped either.... we shall see...ZEN COMING???

[DSherman]

Therein lies the market perception of pvsp/Zen;Zen has been a disappointment due to the jack of projected revenue growth. Revenue was projected to be $19+mm after the first year. How long has it been now, 3+ years?? No growth!!!

[JEM165]

Picked up a couple more for my stash. Spinoff looking more likely, hopefully. LOL$PVSP

[jobynimble]

$PVSP Posted non audited 2023 financials and disclosures. ‘24 Audit is in progress.https://t.co/as7GMWNrjb

— Pervasip Corp (@PervasipC) February 29, 2024

[DSherman]

Should be none to begin, just hope it stays that way!!
Zen$$

[Bjones2]

Debt Holders $15m, becomes Equity Holders!!!

Debt Holders are getting 15% of Artizen spin off and will become Equity Holders. That 15% is coming from Founders 85%, PVSP holder keep their entire 15%, no dilution.

[Bjones2]

Gross Profit $4,890,763 on $15.8 million in revenues

Reports 2023 Revenues of $15.8 Million from Artizen Corporation

SEATTLE, WA, Feb. 29, 2024 (GLOBE NEWSWIRE) -- Pervasip Corp. (OTCPK: PVSP) (“Pervasip” or the “Company”), a developer of companies and technologies in high value emerging markets, today announced the filing of its unaudited financial statements for its fiscal years ended November 30, 2023.


Key Highlights

Gross Profit for the year ending November 30, 2023 totaled $4,890,763 on $15.8 million in revenues, compared to gross profits of $2,724,601 during the same period in 2022.

Gross Margins improved from 17% to 31%, a 182% increase. The improved gross margin reflects increases in production yields and gains in production efficiencies.

Revenues of $15.8 million equal 2022 revenues, achieved in a market that continues to battle over supply and price compression.

Operating Loss for the year ending November 30, 2023 totaled ($460,037), compared to an operating loss of $2,422,916 during the same period in 2022.

Cashflow for the year ending November 30, 2023 totaled $409,507, compared to negative cashflow of ($798,033) during the same period in 2022.

Income Tax liabilities increased due to a materially improved Gross Profit. Under 280e tax treatment, the Company is being taxed on Gross Profit as compared to non-cannabis businesses being taxed on Net Income.

“We continued to increase yields and margins in a market that is still challenged by oversupply and price compression.” said German Burtscher, Pervasip’s President and Chief Executive Officer.

Since the successful completion of its comprehensive financial audit for fiscal years ending November 30, 2022 and 2021, the Company has entered into debt restructuring efforts for one of its operating companies in preparation for the spin out of its cannabis assets and efforts to further reduce its real estate footprint in Washington State.

Audited 2023 financials are expected to be completed by end of April 2024.

[allenc]

Payroll, leases, operating expenses, excluded. Not much in terms of CD, right?

[DSherman]

I don’t think so, some debt is intrinsic to Zen such as payables, leases, etc. We won’t know until we see financials.

[allenc]

Audited FY 2023 financials sometime in April and Artizen spinoff prior to end of June? I just might load up some 4's to add to my stack, just because I can :) GLTA

[oldrogue]

On 4/20, 2024. Audit for 2023 will be posted?

Oldrogue

[12ka]

April

[allenc]

Artizen should have a clean slate in terms of debt and financial health post spin off. Right????

[allenc]

Now we wait on the audited FY 23 Annual report. I see that Riss still holds 321.9M shares of common stock

[jobynimble]

https://www.otcmarkets.com/otcapi/company/financial-report/393274/content

[jobynimble]

Outstanding Shares
The number of shares outstanding of our Common Stock was: 5,429,231,963 as of November 30, 2023
5,329,231,963 as of November 30, 2022

[12ka]

Fins posted

[allenc]

Hoping that Artizen lands on the moon as well.

[Urocka]

Any of u hop in on LUNR?? They are about to land on the Moon today!! Impressive!

[Shaker777]

LOL . they make a lot of efforts and money and their balls explode to raise it .0001
But taking it down is like a breeze
No buyers!!

[DSherman]

Lolololol, that wasn’t BS that I banked all these years. But you remember as many do how you screwed yourself in the last run, lolololol!!! Glad to have you back loozer!!! The board needs court jesters for entertainment!!!
Zen

[stock king 1]

Mark this anything paul riss is involved in will turn into bull chit ….

[stock king 1]

Mark this anything paul riss is involved in will turn into bull chit ….

[DSherman]

Peeps do want in but see no rush which usually results in bid sitting. We shall see.
Zen

[DSherman]

Exactly, not sure which portion of the losses are attributable to Zen vs pvsp costs.

[TAZMANS]

Exactly, profitability and growth will paint the picture for shareholders, end of story.


TAZ

[allenc]

The positive is Artizen generated avg of around $16.4M in revenue. About the only positive I see from the posted financials. Hopefully post spin off Artizen financials start looking much better

[DSherman]

What o find most interesting re the long awaited pvsp audit is the complete absence of discussion re financials.

[87 LC2]

This repeat of yesterday is ridiculous. Nobody wants in? I find that hard to believe.

[87 LC2]

Dear PVSP, please drop the 2023 audited annual report today at 0935 Eastern time. Thank you.

[Urocka]

No Kidding, Where is our new PR Person??

[87 LC2]

Quiet trading today.

[Bjones2]

Great article PA Governor push to Legalize Cannabis

Pennsylvania Governor Says Lawmakers ‘Don’t Even Have A Choice’ But To Legalize Marijuana As Other States Move Ahead
Published 19 hours ago on February 12, 2024By Kyle Jaeger

Pennsylvania’s governor says he thinks officials in the state “don’t even have a choice anymore” on legalizing marijuana, and he feels there’s bipartisan momentum that lawmakers should leverage to get the job done.

With neighboring states such as Ohio enacting legalization in recent years, Pennsylvania Gov. Josh Shapiro (D) said last week that “this really comes down to an issue now of competitiveness,” as the state is currently “losing out on 250 million bucks a year in revenue that could go to anything from economic development, education, you name it.”

“The reality is, as long as we have safeguards in place to make sure our children aren’t getting their hands on it—it’s just like, we don’t want our kids out drinking, right?” he said. “And a lot of that is going to be a burden on parents and schools and others to make sure we educate on that. Then I think this is something we’ve got to compete on.”

States That Legalized Marijuana See Massive Reduction in Tobacco Use
“I actually think we don’t even have a choice anymore given the way in which this is moving so quickly across our region and across the country,” Shapiro told WILK News Radio, adding that he’s personally “evolved on” the issue and wants a legal cannabis market “focused on lifting up Pennsylvania businesses in the process—not these big national conglomerates—and we’re empowering people in local communities to it that I think some good can come from it.”

The governor made the comments days after unveiling a budget proposal that calls for marijuana legalization to be enacted this year, with sales beginning as early as next January.

Cannabis reform has stalled in the Pennsylvania legislature over recent sessions, but Shapiro said he sees a path forward this year.

“You’ve got some of the legislature who just—you know, it cracks me up they’re like kneejerk against everything I’m for, but that’s like their politics,” he said. “But I think what you’re beginning to see is, from the thoughtful folks out there, some bipartisan support emerged and you’ve got Democrats and Republicans sponsoring bills to legalize it.”

“It’s obviously wildly popular across the country and certainly in polling regionally and in the states. So if someone’s going to be against it, I think they’re going to have to justify that to their constituents as well,” he said. “There does seem to be an emerging bipartisan consensus that we’ve got to compete on this issue, and we’ll see if we can get it done. We’re going to work hard.”

In a separate interview with KDKA News Radio that the governor’s office also promoted last week, Shapiro noted that his office estimates that Pennsylvania could bring in $250 million in tax revenue annually from cannabis sales.

“The reality is we are leaving all that money on the table. We are falling behind other states,” he said. “I think it’s another story of us not being as competitive as we need to be, and I think its time has come.”

“It’s time to shut down the black market. It’s time to take the strain off of cops. It’s time to be competitive. And this is a way to do that,” the governor said. “We can’t let Ohio and the other states around us keep eating our lunch on this or any other issue. As I’ve said many times, I’m competitive as hell and this is one of those areas. We’ve got to compete it.”

A staffer in Shapiro’s office similarly remarked on the need to legalize marijuana after Ohio voters approved the reform at the ballot last November.

Also last week, Pennsylvania lawmakers convened another hearing on marijuana legalization issues—focusing on the industry perspective, with multiple stakeholders from cannabis growing, dispensing and testing businesses, as well as clinical registrants, testifying.

“From the outset, my personal goals for adult-use has been to put health and safety of our constituents first and to allow for equitable and meaningful opportunities, particularly for those harmed by the war on drugs,” Rep. Dan Frankel (D), chair of the full Health Committee who previously sponsored cannabis legalization legislation, said at the beginning of last week’s hearing

[Urocka]

They Have Most of the cheap shares Already....them and a few new buyers recently....management needs to deliver to get this moving out of the trips....

[DSherman]

Damn, sorry again. Low trips with volume are simply a day traders delight.
Zen

[36Knuckle]

There you go with Elite Pharmaceutical sign-off again...
That "Day Traders" chart looks good...appreciate the share...

[DSherman]

I’ll spare you re this BS post and just say that no one can ‘jettison’ debt. Secondly, restructuring is certainly not engineering in any way, shape or form. Condescending BS speak.
Eltp

[Bjones2]

NITE on BID for 38 Million, 10k on ASK, LOL

MM are trying to get more cheap shares, BID is stacking with 103 Million, ASK only 5 Million

CDEL on BID for 32 Million, on ASK 5 Million
GTSM on BID for 18 Million, on ASK 1 Million
ETRF on BID for 16 Million, on ASK 85K
INTL on BID for 25 Million, on ASK 10k

[Bjones2]

Jettison over 80% of Debt, with No Dilution!!!!

This restructuring demonstrates Pervasip's commitment to strengthening its financial position and streamlining
operations. It plans to jettison over 80% of its debt by engineering a spinoff into a new cannabis-focused entity,
without diluting the public shareholders. The current management team is giving up ownership interest in the
spinout pubco to create more value for the public shareholder and reduce debt-to-equity ratios, thereby
fortifying its balance sheet and improving overall financial health.

[12ka]

2023 audit to be done soon
auditors are closing in
to be announced soon

[PrivateEquity]

Here's a nice little update on PVSP. https://privateequitymarkets.us/pervasip-corp-otcpvsp
Eager to watch how everything develops. They have staying power and they are seasoned commercial growers.
But for today, I have to watch for how many times Taylor Swift appears in the Super Bowl broadcast.

[allenc]

No worries. Doesn't matter for me, as I am not day trading this anyway. Just holding into spin off and see where we end up when the smoke clears.

[DSherman]

Sorry about that, pvsp!!