Pervasip Corp (PVSP)

[Arthur]

With VST*, which was mostly a shell company making a negligible amount of money hosting chess games, there was a hope that ValueSetters would succeed making money, maybe huge money, while operating Pervasip's VOIP business, presumably at a profit, something PVSP was never close to achieve.

Pervasip never revealed how much money they were making from their VOIP app, and how much of their $1M-odd annual revenue came from old business. But their revenue was always declining, so their old "wholesale" customers were dropping faster than the Android revenue was growing.

And, of course, the company was losing $2 for every $1 of sales. Never a good thing.

The ValueSetters asset sale includes a windfall clause, if VS*R makes more than $1M annually in 2015, Pervasip will receive an extra 9.9 million VST* shares.

No, I don't know if PVSP is still holding the VST* shares, Pervasip is not authorized to sell assets including share unless its lenders agree. It's in the Factor Fund Agreement, the Diamond Remeark Agreement and the Laurus Fund Agreement.

We might learn more when Pervasip finally file its delayed 10-K.