Monday, December 15, 2014 6:53:37 PM
From G3 Connect, only $400K was obtained directly, another $600K was G3 Connect buying CDs issued to Net Capital, that money went straight to repay Laurus, except what NetCapital kept for itself.
With JDM, $600K was raised by floating 2 x $300K debentures, $100K was raised by JDM with a 10% discount, and another $100K was raised by PVSP itself (with convertible debt). Pervasip also had to pay a $260K fine for breaking the JDM deal.
I lost track how much PVSP raised to fund its various operating losses by issuing CDs.
In 2012, sales were $999K, operating loss was ($1.5M), $994,500 was was the proceeds from borrowings.
In 2014, PVSP say it has borrowed only $354.5K so far, none from Factor Fund.
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