Pervasip Corp (PVSP)

[Bjones2]

Achieved break-even operating cash during the Six Month Ended on May 31

Pervasip Corp.
Tue, July 18, 2023 at 9:15 AM EDT·6 min read
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Pervasip Corp.
Pervasip Corp.
SEATTLE, July 18, 2023 (GLOBE NEWSWIRE) -- Pervasip Corp. (OTCPK: PVSP) (“Pervasip” or the “Company”), a developer of companies and technologies in high value emerging markets, and its wholly owned subsidiary, Artizen Corporation, today announced the filing of its unaudited financial statements for its 2nd Quarter ended May 31, 2023.

Key Highlights

The Company achieved break-even Net Income from Operations in its second quarter, compared to a loss of $1,111,980 in the same period in 2022.

The Company also achieved break-even operating cash during the Six Month Ended on May 31, compared to a $854,221 loss of cash for the same 6 months period in 2022.

SG&A in this six-month period is down by $476,308 compared to the same period last year.

For the six-month ended period on May 31, 2023, the Company’s EBIDTA grew from about $167,000 to about $726,000, a 437% improvement