The penny stock company I follow, Pervasip (PVSP), took several Convertible Debentures and Promissory Notes with Asher Enterprises.
In fact, all the Promissory Notes were always changed into CD.
But, in the latest move, last year, all the remaining Asher Notes were repurchased by another toxic financer, 112359 Factor Fund, LLC.
It is not clear if Factor Fund is Asher under another name, or a genuinely different shylock.
Currently PVSP is between a rock and a hard place, they have not enough money to stay current in their OTCQB filings, but their Debendure Agreement contract with Factor Fund say they have to stay current.
There was something bizarre in their last $665K CD loan, $160K of it was "borrowed" (owed) for a promise not to convert for 5 months. Seems to be a sucker move. Pervasip said "we will owe you an extra $160K if you don't dump shares till the end of the year." And that's what happened. The O/S stayed stable for 5 months, and then a mega-dilution happened. No way to tell what's the O/S now, there have been no filings sincelast October.
