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Friday, June 19, 2015 5:56:05 PM
The 13G entities are not PVSP funders, as such.
None of those entities paid a cent to Pervasip.
That's why there was no 8-K to announce new funding.
That's also why there is no 6-month waiting period before those shares might be dumped.
Those shares might be in the process of being dumped this month. We will know for sure the 10th of next month, since such sales must be reported by the 10th of the following month.
According to the filing, the SC-13G entities obtained their debt from Factor Fund, and then converted some of the debt at around $0.0000?? a share.
Between March 1, 2015 and May 30, 2015 the Company issued 1,298,571,428 shares of common stock upon the conversion of debt (...)
The new shares upon conversion of debt were issued in separate transactions with investors, each of which exercised its right to convert derivative securities issued by the Company in prior periods. The issuances were exempt from registration under Section 5 of the Securities Act by reason of Section 4(2) of said Act, as the investors were sophisticated, were given access to information about the Company, and had taken the securities for investment.
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