Retired making "real money"
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It all started a little over a month and a half ago. Pervasip Corp (OTCMKTS:PVSP, PVSP message board) announced that they have acquired a company called Canalytix LLC and people immediately got interested. The reason for all the enthusiasm lay with the fact that Canalytix wants to provide various services to indoor growers. As you can see from the name, the focus will be placed on marijuana producers which is why investors started treating PVSP as a pot stock.
And, as you probably know, every self-respecting pot stock must surge to unimaginable heights at one point or another in its life. Sure enough, PVSP exited the triple-zero range it had occupied for so long and during the second half of April, it even found itself flirting with the $0.003 per share mark. As you also know, however, pot stocks tend to burn overly optimistic investors quite badly. On April 27, PVSP stalled and, apart from the odd bounce, it's been slipping ever since. Yesterday, it took a serious 23% hit and it stopped at $0.001 per share. Time to take a look at the reasons for the rather dismal performance.
Things didn't look very good from the very beginning. PVSP were talking about how bright the future is when they completed Canalytix's acquisition, but they somehow failed to say if their new subsidiary generates any revenues. Canalytix's own website isn't terribly informative. It's just a page with a newsletter subscription form.
And while PVSP find the time to publish optimistic press releases on a regular basis, they seem to be too busy to file their own financial reports. The 10-K for the period ended November 31, 2014 was supposed to come out at the end of February, but it didn't see the light of day until May 1, and we still don't have the statement for the quarter ended February 28 which means that the company profile at the OTC Markets now bears a Limited Information sign. As you might have calculated already, the latest set of figures are now more than six months old and they look like this:
cash: $1,832
total assets: $1,052,288
current liabilities: $10,453,080
yearly revenues: $491,319
yearly net loss: $458,798
$1,040,000 (or about 98.8%) of the total assets are labeled “restricted securities” and they appear to consist of 40 million shares of Valuesetters Inc (OTCMKTS:VSTR) common stock. At yesterday's close, these shares have a market value of $112 thousand. The annual revenues have been shrinking for a while now, but at 46%, the decrease in 2014 was the most severe we've seen so far.
The humongous amount of debt, however, is the biggest problem and the fact that a vast portion of it is convertible into common stock is putting quite a lot of pressure on the ticker. During the twelve months covered by the annual report, for example, PVSP issued 390 million shares at $0.0007 a pop in order to satisfy some notes. The management team were kind enough to tell us that between December 1, 2014 and April 24, 2015, they printed a further 2.1 billion shares as a conversion of debt, but sadly, they decided not to disclose the conversion rate.
The convertible debt is, apparently, far from over and the management team have decided that it's finally time to act. In a press release from last week, they told us that some more shares will be issued over the coming months, but they also said that Flux Carbon Corporation (who own 1 billion PVSP shares) have agreed to absorb the impact. Basically, this means that the O/S count will remain unchanged while more debt is being converted. Sounds good, but most of the convertible notes can be turned into stock at a discount which means that while the O/S count won't be touched, the number of cheap shares hitting the open market might increase. And that doesn't sound so good.
posters always beg someone else to slap the ask.
Time for posters to step up and stop whining about PPS.
I picked up 3 mil at 9 today.
just replies to the ignorant slurs on my trades and strategy but i am a long now ! LOL
Always NEXT WEEK with PVSP 1
not going any higher until you pay us flippers first !
you refer to us as "shorty"
50k+ "real money" already deposited because i sold in 20s.
not bitter, smiling !
Still flipping, while you hold and complain.
i am hoping stock gets back to 20s.
Too many posters are not buyers, just watching and asking everyone else to buy.
no revenues, just best msg board on ihub keeps it alive.
Different outlook on PVSP, cannot accept other opinions.
Try buying the stock to make PPS rise, it works. LOL
Somebody please buy this stock and not just post !
Please pay at the NITE window.
deposit "real money" in bank.
Selling for profit 2k a week.
LMAO
still believe in shorty ?.....LMAO
no shorts involved, just flippers making money.
newbie...he got shares and is probably selling them to you.
paul is committed to getting a salary. Keeps changing business plans and toxic financing and selling shares.
bitter longs just dont appreciate the flippers providing a downward stop and reload.
Pay tomorrow at the NITE window !
i hit the 16s
typical long strategy
dont hit the ask...someone else will !! lol
maybe pick up some real cheapies today ?
not moving today....just watching and typing same as you.
only if PVSP hits 30.
pay at NITE window.
imaginary shares...but "real money"...lol
sold 100+ mil shares in the high 20s FYI
also locked and loaded again !
smack the ask then...stop whining...everyone here to make money.
not me today...just watching and typing like the others.
oh no...makes me a long ! lol
flippers havent left....stock is not moving...nothing to flip.
wait ...if PVSP rises there will be plenty to flip.
Going nowhere today !
posters..no buyers !
6 mil walll just too high ! lol
yes it was us bidding...picking up flipper opportunities.
Creates liquidy and trades. You should enjoy the stopper bids.
someone who won't sell !
just watching today !
YOUR OPINION ..NO VALUE ?
PVSP not going anywhere for awhile !
loaded MANY 20-21s now ready for consumption ! lol
tomorrow 10 mil at 29 NITE
Bring imaginary money too ! LOL
my shares are available at my price !
GLTA
Wall not fake. Pay at the NITE window tomorrow
Please pay at the NITE window everyday. More for sale tomorrow
Nobody hit the "dirt" wall today. Lol
GLTA tomorrow ! Push higher !!
BUY BUY BUY
Sorry but the trades from NITE are real trades and not dilution but flippers making money.
More shares will be available on Monday...pay at the NITE window !
Next week will be very good for dirt, reducing reload.
"real Money" in the bank, too many shares.
GLTA
Watch the NITE !
LMAO... stay long and i will sell !
Makes my banker and wife happy 1