Pervasip Corp (PVSP)

[Bjones2]

Riss simply transferred his 90% ownership to Artizen in Merger

Artizen deal was done with NO Dilution of Common Stock shareholders

Riss has always held Series F and G shares that are convertible into 90% equity in PVSP. Those were used to do the reverse merger and Artizen ended up with 85% ownership which was totally fair as they had the $20 Million business.

It is no different than it ever was for some 15 years or more, same ownership structure for old PVSP, and now Artizen.

Mr. Riss added, "The agreements called for me to surrender my Series E, F and G preferred shares so the Company can pay for the acquisition with the new preferred shares. The Series E shares gave me voting control, while the Series F and G shares are convertible into more than 90% of the Company's issued and outstanding voting and other stock. The new preferred shares issuable in the Artizen acquisition will correspond to 85% of the Company's outstanding equity. We are pleased that the acquisition brings an established business to Pervasip without issuing additional shares of common stock."