Pervasip Corp (PVSP)

[Dragon Lady]

PVSP_a_CON: ENDLESS_GUTTER_NOTES + FLAT_SALES + DEFAULTED_DEBTS_LMAO !!

AND THE REAL JOKE IS FLAT SALES FROM ALL OF 2020 TO 2021 NOW -

They didn't "grow sales" JACK SHIT IN AN ENTIRE YR BUT NOW "POOF" via the OTC "I Dream Of Jeannie" method just "Project" worthless scammery numbers pulled from the thin air of "$17 mil in sales, no no how bout $30 mil oh wait even $40 mil" WTF ?

THEY DID NOT GROW SALES FOR A YR - so WHY NOW the fantasy con "projections" to run this mini TOXIC GUTTER DEBT P&D for their gutter lenders :)

Yeah - that Qtr filing is a TRAIN WRECK OF SAME OLD BS of this Riss "weed con" now LMAO !!

All the BS PR PUMP n HYPE on planet earth DOES NOT CHANGE THE FACTS - they are in defaulted debts and BLEEDING CASH and need ENDLESS GUTTER DEBT to stave-off FILING BK !! Their own GOING CONCERN WARNING SAYS IT IN PLAIN ENGLISH :)

SALES ARE FLAT yr over yr all 2020 to all of 2021 - not a damn thing is happening as they SPEND LIKE DRUNKEN SAILORS to pay themselves and Riss and DILUTE THE SHIT OUT OF THE COMMON BAGHOLDERS !!

They are nearly CASH INSOLVENT aka GOING CONCERN - w/o enough cash left to even pay their ACCOUNTS PAYABLE = ENDLESS GUTTER NOTES being signed non stop !

They are IN DEFAULT aka WAY "PAST DUE" on numerous key older debts and NO WAY BUT MASSIVE DILUTION TO PAY THEIR WAY OUT OF THE HOLE LOL !!

Their margins SUCK DONKEY BALLS - they are horrifically bad and spend waaaay the hell more than they ever bank AFTER HIGH COST OF SALES as sales are STAGNANT AND FLAT and declining aka FACT per their own damn filing!!

They banked from sales a lousy $1.2 million for an ENTIRE QTR LMAO (what happened to fantasy "$17 million and $30 million in sales" WTF ???) -

OF THAT - they then INSTANTLY SPEND over $700K ON JUST SALARIES + another $367K on bullshit "office and other" EXPENSES = they are LOSING MONEY ALREADY LMAO !!

ADD-in MASSIVE SG&A "additional" expenses and more interest etc -

THEY LOST $357K REAL CASH ON THE QTR

THEY LOSE OVER $100K PER MONTH - no sign anywhere of reversing that bad FACT = DILUTION IS THEIR ONLY SOLUTION TO PREVENTING BK FILING !!

THEY LOST an actual $500K PLUS ON THE QTR = AGAIN, DILUTION IS THEIR ONLY SOLUTION to stave off BK FILING !!

https://www.otcmarkets.com/otcapi/company/financial-report/327732/content

QUOTE: PAGE 14 of the SAD SAD TRUTH -

"2. Going Concern Matters and Realization of Assets

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the ordinary course of business. However, the Company has had negative working capital and a stockholders’ deficit. In addition, the Company is unable to meet its obligations as they become due and sustain

its operations. The Company believes that its existing cash resources are not sufficient to fund its debt payments and working
capital requirements.

The Company may not be able to raise sufficient additional debt, equity, or other cash on acceptable terms, if at all.

Failure
to generate sufficient revenues, achieve certain other business plan objectives or raise additional funds could have a material
adverse effect on the Company’s results of operations, cash flows and financial position, including its ability to continue as
a going concern, and may require it to significantly reduce, reorganize, discontinue, or shut down its operations.

In view of the matters described above, recoverability of a major portion of the recorded asset amounts shown in the
accompanying balance sheet is dependent upon continued operations of the Company which, in turn, is dependent upon the
Company’s ability to meet its financing requirements on a continuing basis, and to succeed in its future operations. The
financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should the Company be unable to continue in its existence. Management’s plans include efforts to develop new revenue sources and negotiate further debt reductions
with creditors.

There can be no assurance that the Company will be able to achieve its business plan objectives or be able to achieve or
maintain cash-flow-positive operating results. If the Company is unable to generate adequate funds from operations or raise
sufficient additional funds, the Company may not be able to repay its existing debt, continue to operate its network, respond to competitive pressures, or fund its operations. As a result, the Company may be required to significantly reduce, reorganize, discontinue, or shut down its operations.

Accordingly, the management of the Company has concluded that
there is substantial doubt about the Company’s ability to continue as a going concern within one year after the issuance date
of these financial statements.
"

BAD BAD BAD.....

AND WORSE ....

QUOTE:

"Secured Debt
As of February 28, 2022, and November 30, 2021, the Company owed a senior secured lender $142,500. The secured
debenture is due on December 31, 2022, bears interest at a rate of 6% per annum and is convertible into the Company’s
common stock at a fixed rate of $0.001 per share, unless the Company is in default on the secured debenture, in which case
it is convertible at the stated default rate, if such rate is lower than $0.001. As of February 28, 2022 and November 30,
2021, accrued interest payable on the secured debenture totals $25,014 and $22,882, respectively.
The same lender is also owed $140,000 and $50,000 for two convertible debentures that are past due. The $140,000
debenture accrues interest at a rate of 18% per annum. The principal and interest are convertible into shares of common
stock at a price of $0.0025 per share. Accrued interest payable as of February 28, 2022 and November 30, 2021, amounts
to $12,566 and $6,283, respectively. The $50,000 debenture accrues interest at a rate of 24% per annum. The principal and interest are convertible into shares of common stock at a price of $0.0025 per share. Accrued interest payable as of
February 28, 2022 and November 30, 2021, amounts to $120,099 and $117,107, respectively.
"

DEFAULTED DEBTS - and BIG ONES FOR WHICH THEY HAVE NO CASH LEFT TO PAY = they are technically INSOLVENT w/o ENDLESS DILUTION NOTES aka DEATH SPIRAL FINANCING :)