WHITE PLAINS, NEW YORK – April 02, 2015 – InvestorsHub NewsWire -- Pervasip Corp. (USOTC: PVSP) (“Pervasip” or the “Company”) provided an update on its previously announced and ongoing restructuring and acquisition efforts.
“We eliminated $1,065,000 in debt during 2015 and entered into agreements to eliminate an additional $4,398,000,” said Paul Riss, the Company’s chief executive officer. “Those amounts collectively correspond to a reduction of our outstanding debt load by about 73%. Our goal is to eliminate all of our remaining historical debt by the third quarter of this year.”
“In addition, we recently completed the acquisition of 90% of the issued and outstanding equity of Canalytix LLC, an energy and resource solutions provider based in Denver, Colorado. That acquisition is the first of several strategic transactions that we have targeted with a view towards consolidating a meaningful asset base and presence in the indoor grow facility markets, both in Denver and elsewhere.”
Canalytix provides advanced analytics through an integrated cloud-based platform that allows users to monitor and control greenhouse facilities through the cloud, including real-time data on energy usage, HVAC systems, lighting and costs. Canalytix is positioning its offering to meet the specific needs of indoor grow facilities, and the company has allied itself with a Denver-based distributer of hydroponic equipment to integrate and provide the Canalytix technology to existing clients.
Riss continued: “We believe that there are compelling opportunities for the creation of meaningful shareholder value by integrating innovative new technologies with existing bricks and mortar infrastructure in the hydroponic and other grow facility markets. Our goal is to consolidate and build market share using that approach. We are evaluating a number of transactions in that regard and will provide additional information as appropriate.”
About Canalytix LLC
Canalytix LLC was formed in 2013 to develop and market energy and resource efficiency technologies and products, and is currently focused on doing so for indoor plant growth clients in the Colorado and other qualified markets. Additional information is available at www.canalytix.com and www.noveda.com.
