Pervasip Corp (PVSP)

[Arthur]

K.K. had acquired Pervasip as a shell to make a play over his other acquisitions, the empty Canalytix and the insolvent Grow Big Supply.

Somehow, it didn't work. Sure, he was able to dump 2 billion PVSP shares at wildly inflated prices, and later was able to borrow $500,000 on behalf of PVSP shareholders, but somewhere the scheme went awry.

K.K. had acquired 60% ownership of Pervasip, + 1 billion PVSP common shares, but after Grow Big Supply suddenly closed its doors and PVSP main lender sued Pervasip, K.K. cancelled his PVSP supershares, and thus ceased to be PVSP owner. Leaving PVSP shareholders holding the bag and handling the lawsuit.

I wonder if Pervasip bothered to show up in court, or will just be the target of a default judgment.