Hangover Joe's Holding Corp. (fka HJOE)

[I-Glow]

It certainly looks like Pervasip is a share selling scheme and a very poor choice to use as a example of a company using toxic financing.

Paul Riss’s deal with Magna in July 2011 was typical. The New York entrepreneur’s company, Pervasip, was developing a communications app to compete with Skype, but it was down to its last $100,000, barely enough to last a month at the rate the company was losing money.

On October 20, 2015 PVSP filed a 8-K and what do you know more toxic financing:

On October 14, 2015 Pervasip Corp. (the “Company”) entered into a Securities Purchase Agreement (“SPA”) with TCA Global Credit Master Fund, LP, a Cayman Islands limited partnership, as lender (“ TCA ”).  Pursuant to the SPA, TCA agreed to loan the Company up to a maximum of $5 million for working capital and
general operating expenses.  An initial amount of $500,000 was funded by TCA on October 14, 2015.  Any additional funding to be provided to the Company
under the SPA shall be at the discretion of TCA.

And it looks like they aren't in the App business but in the MMJ business. Typical OTCM scam - delinquent filings but they have resorted to as much toxic financing as HJOE.

IG