Pervasip Corp (PVSP)

[Bjones2]

Series K Preferred will absorb ALL Convertible & Debt securities

No future Dilution of Common Shareholders, they will OWN 80% of the equity of the company, up from 15% previously!!
The 20%, restructured Series K Preferred will be used to absorb ALL Convertible & Debt Securities.

The New Pervasip

While Pervasip common shareholders of record at the spin-out closing date will collectively receive 15% of Artizen’s common shares in addition to keeping their existing Pervasip common shares, Pervasip’s Series K preferred stock will be restructured immediately after completing the Artizen spin-out to reduce the applicable conversion rights from 85% of Pervasip’s fully diluted issued and outstanding stock to 20%. Importantly, that 20% then will also absorb the full impact of all other Pervasip convertible equity and debt securities. As a result, in addition to receiving 15% of Artizen in the spin-out transaction, Pervasip’s common shareholders will collectively hold 80% of Pervasip’s fully diluted shares immediately after the spin-out transaction instead of the current 15%.