Lucy5137
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$PVSP: Wow nice...you bring a nice topic out.A secured lender which the company owes $100k ...with all the debt restructuring going on.I believe that should be one of the top priority to take care. Well last week you were asking for 8K Paul gave it to you.Now you want about Laures I believe you will get your answer soon.
$PVSP : Yes holding tight. Picked up 10 million more today. Very optimistic about it. Should be running soon.
$PVSP: I do believe at the end shareholders will rewarded huge.
Date of report (Date of earliest event reported): January 27, 2015
PERVASIP CORP.
(Exact name of registrant as specified in its charter)
New York 000-04465 13-2511270
(State or other
jurisdiction of incorporation)
(Commission File No.) (I.R.S. Employer Identification No.)
430 North Street
White Plains, NY 10605
(Address of principal executive offices)
(914) 750-9339
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13-4(e) under the Exchange Act (17 CFR 240.13e-4(c))21723200
SECTION 1 – REGISTRANT’S BUSINESS AND OPERATIONS
Item 1.01. Entry into a Material Definitive Agreement.
On January 27, 2014, Pervasip Corp. (the “Company”) executed debt modification agreements (the “Agreements”) with 112359 Factor Fund, its senior lender (the “Lender”), pursuant to which the Lender agreed to reduce the principal balance due from Pervasip under each outstanding debenture owed to the Lender.
Debenture number PVSP – 59FF005, with an original issuance date of June 19, 2013, in the amount of $665,000, and filed as Exhibit 4.1 to the Company’s Quarterly Report on Form 10-Q for the quarterly period ended May 31, 2013, was reduced from an outstanding balance of $634,600 to $250,000.
Debenture number PVSP – 59FF001, with an original issuance date of November 30, 2005, in the amount of $1,000,000, and filed as Exhibit 10.2 to the Company’s Current Report on Form 8-K dated February 15, 2013, was reduced from an outstanding balance of $280,190 to $250,000.
Debenture number PVSP – 59FF002, with an original issuance date of May 31, 2006, in the amount of $1,000,000, and filed as Exhibit 10.3 to the Company’s Current Report on Form 8-K dated February 15, 2013, was modified to reduce the outstanding balance of $1,000,000 to $0, upon the completion of the payments required to retire the $250,000 debenture number PVSP – 59FF001.
SECTION 8 – OTHER EVENTS
Item 8.01 Other Events.
On January 27, 2015 the Company issued a press release announcing the Agreements. A copy of the press release is attached hereto as Exhibit 99.1.
SECTION 9 – FINANCIAL STATEMENT AND EXHIBITS
Item 9.01 Financial Statements and Exhibits.
(c) Exhibits.
Number Documents
InvestorsHub News Alert
News alert - USOTC:PVSP
Current Report Filing (8-k)
15:34 : Wednesday 4 February 2015
Read More
$PVSP>>>>>>Yes it is getting cleaned up.I believe Paul will show us with 8K.....Let's wait and see.
Yeah we are now paying asher back for his salary.....Mark Richard took all the money. ....Richard milk the company for years. Took salary, advisors fee and lot more.
$PVSP: I believe lot of one or two tick players got in early. We might see some 4's and 5's but after that it will run. IMO...some solid news in near future.
$PVSP: It is moving nicely. Few obstacles (Asher) on the way. But very soon when it's all set and done. #PVSP will run like a champ. Hold on to your shares and enjoy the game. Let the shorters play but soon ..I mean real soooooooon our game will start. I am here over "5" years with this stock. Saw it all ...I believe this time it's for real.
$PVSP : I believe we should see ten times from the current price very soon. Lot of people will jump out and lot will jump in..
It's the name of the game.
$PVSP: Nice day...No Back Print....Looks like Asher done for now.
$PVSP...Wow those shares they sold for long time....now it's the time to cover. Hold tight ....they will be running for our shares.
$PVSP:I believe the dilution is over for now...Time to start the party.Expecting more news in near future....$$$
$PVSP....It can come back in a day. My advice to you is..."time to give up"
$PVSP...Lol some little birdy whispered in my ears. ..SPEED MONEY. ..coming in to load up.
Lol...he is dreaming about this for years. Every time he say something Paul brings out something good....I love it when he gets busy on this board. ...feeling the heat. We all know and saw the os increased. $ 9. Million debt consolidation going under $1. Million. Talking about acquisition. ..Lot more. Get busy buddy...Time is ticking.
Took a starter position.....$$$
$NSAV:..Let's start the party here....$$$
Great Post.....$$$$PVSP$$$
$PVSP:
Print
Alert
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): January 9, 2015
PERVASIP CORP.
(Exact name of registrant as specified in its charter)
New York 000-04465 13-2511270
(State or other
jurisdiction of incorporation)
(Commission File No.) (I.R.S. Employer Identification No.)
430 North Street
White Plains, NY 10605
(Address of principal executive offices)
(914) 750-9339
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13-4(e) under the Exchange Act (17 CFR 240.13e-4(c))21723200
SECTION 1 – REGISTRANT’S BUSINESS AND OPERATIONS
Item 1.01. Entry into a Material Definitive Agreement.
On January 14, 2014, Pervasip Corp. (the “Company”) executed a settlement and release agreement (the “Agreement”) with the Pension Benefit Guarantee Corporation (the “PBGC”), pursuant to which PBGC agreed to accept $100,000 in full satisfaction of all amounts that had been due from Pervasip. The Company reported a liability to the PBGC in its August 31, 2014 Quarterly Report on Form 10-Q of $1,987,255.
The following describes certain of the material terms of the Agreement. The description below is not a complete description of the material terms of the transaction and is qualified in its entirety by reference to the Agreement entered into in connection with the transaction, a copy of which is included as Exhibit 10.1 to this Current Report on Form 8-K:
Payments. The Company agreed to pay the sum of $100,000 (the “Settlement Amount”) to the PBGC. On each of January 31, 2015, April 30, 2015, July 31, 2015 and October 31, 2015, the Company shall pay $25,000 to the PBGC.
PBGC Release. Upon receipt of the Settlement Amount, the PBGC shall be deemed to have released the Company from any and all employer liability and fiduciary liability.
On January 9, 2015, the Company received a modification of the terms of a note payable to Diamond Remark, Inc., which was filed as Exhibit 4.1 to the Company’s Current Report on Form 8-K, dated September 4, 2014. The modification delayed the requirement of a reverse split by January 31, 2015. Consequently, the Company has canceled plans to file for a reverse split.
SECTION 8 – OTHER EVENTS
Item 8.01 Other Events.
On January 14, 2015 the Company issued a press release announcing the Agreement. A copy of the press release is attached hereto as Exhibit 99.1.
SECTION 9 – FINANCIAL STATEMENT AND EXHIBITS
Item 9.01 Financial Statements and Exhibits.
(c) Exhibits.
Number Documents
Number Documents
10.1 Settlement and Release Agreement by and between Pervasip Corp. and Pension Benefit Guaranty Corporation, on January 14, 2015
99.1 Press release of Pervasip Corp. dated January 14, 2015.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
PERVASIP CORP.
Date: January 14, 2015 By: /s/ Paul H. Riss
Name: Paul H. Riss
Title: Chief Executive Officer
$PVSP....Party about to start here very soon. I love the energy from some share holders showing. Every one come and join the winner #PVSP.
$PVSP....PVSP has 4 days for another 8K let's wait and see. I am sure we will see one in few days.
$PVSP...I believe we will know it shortly. $8. Million in debts going for less than a million. A cash gain over $7. Million. Plus another $2. Million in tax savings. A total cash gain of $ 9 . Million.
Now question ...who is helping him and how they are getting paid and when. I do believe he will have a six to 12 months to start paying them off. Cash or shares?
In my opinion dilution should or will stop for a while.
If the acquisition turns out to be profitable it will reflect on the market. Dilution will be at it's minimum. Only issue we are facing is Asher. .I believe they are almost done or at the very end of the note.
Whoever invested in PVSP at this current price , will make Tons of money. Only if you can hold on to your shares.
Riss is a very open person. ..I recommend..... if you have any question about the company and its direction. ...just call him.
$PVSP: I believe more news plus a nice acquisition in the Pipe line...$$
$PVSP: News
Pervasip Executes Debt Modification Agreements to Reduce Debt By $1.4 Million
Print
Alert
WHITE PLAINS, NEW YORK – January 27, 2015 – Pervasip Corp. (USOTC: PVSP) (“Pervasip” or the “Company”) today announced its execution of agreements to eliminate an additional $1.4 million in debt.
The new agreements bring the Company's balance sheet improvement to more than $3.3 million when taken with the Company's previously announced $1.9 million debt settlement with the Pension Benefit Guarantee Corporation.
"We are pleased to have the support of our creditors as we implement our restructuring and acquisition plans," said Paul Riss, Pervasip’s chief executive officer. “We still intend to eliminate additional debt but the completed transactions have paved the way for us to meet the balance sheet requirements of our targeted acquisitions, which we now hope to complete this quarter."
About Pervasip Corp.
Pervasip delivers mobile VoIP and video telephone service anywhere in the world that has a stable broadband connection. In addition to international telephone numbers from 57 countries for mobile phone users, with unlimited inbound calling, it offers several international outbound calling plans, including some of the lowest rates to international mobile phones.
Carmil1....In penny land lot of the companies does not have audited financial.I hope all the share holders here make some good money.
Let them print the labels so they can make some money....I lot of the other companies just printing the certs. Good luck every one.
$PVSP: 'KingTuk'.....I remember we are here for years and planning to stay long. Good to see all the big players in this game now. I believe they all will be very happy.
$PVSP: Game is just getting ready to get started.We haven't seen the real volume yet.All of us are sitting at the bid and our friend giving us all the cheap shares we wanted.IMO...They are done or they will get bought out.I believe company has lot of news to release including 8K. Let's wait till the news and the real buys comes in.We are lucky that we got in before the game start.I believe all the long term share holders will be very happy this time around. PVSP had and has some long term loyal share holders. IMO they are holding over 700 million shares at a higher average.
$ MFST: I am down 75% . Got in on the last hipe at .12 .... looks like dilution at it's best . I hope I can get my investment back.
"@PaulRiss: Google is becoming an #MVNO. http://t.co/MiczfKCZs7. That's another wireless service for our private line to ride on."
$PVSP: Another tweet by the CEO
Google is becoming an #MVNO. http://t.co/vfjfexBUEe. That's another wireless service for our private line to ride on.
$PVSP : Possible with the right kind of development. ...looks like we at the right direction.
$PVSP : In this stock for long time. Never seen so many star players together. Finally PVSP got some attention.
$PVSP: Exactly. ..they are taking out one by one...stay tuned for more updates.
$PVSP...Cleaning up the book. $9. Million debt getting wiped out ...which was stolen by Mark Richard from the company.
We all know to clean up it will require dilution. We are ready to make it a solid company.
$PVSP...Pepi we are in this stock long long time. I can name lot of us and we were all supporters. Every one remain the same but you. Why? Is it that crazy Richard was thrown out?
$PVSP...7* players here and could be 7 more quietly watching. I believe should be fun starting next week. Enjoy the weekend and start planning on your huge gain on PVSP.
$PVSP: Looks like the way it is moving forward...when it is all done the actual debt will be less than One Million.....Wow sweet.Party about to start.
$PVSP: NEWS>>>>
$PVSP: CEO Very active lately on twitter.
Paul Riss @PaulRiss · 3m 3 minutes ago
Company transparency with its shareholders is a huge priority. Going to start being more active on twitter. Cheers to a fresh start.