Pervasip Corp (PVSP)

[narvo0]

Bankshot: maybe this is the CD that Talonss conversation was about where Paul wants to purchased some of the debt.
15 to25% premium, right? That's PVSP right to do correct.The one you posted us on.
I remember our CEO conversing with CD holders to hold onto it as the share price will much more valuable later.

From the last 10-Q:

Quote:State the number of shares outstanding of each of the issuer’s classes of common equity as of the latest practicable date: 19,977,750 shares of common stock, par value $.10 per share, as of March 31, 2011.

The convertible debentures consist of a $50,000 convertible debenture that we issued in exchange for a $50,000 cash payment, and three debentures, which we issued in the aggregate total of $93,170, in exchange for a reduction in notes and trade payables that totaled $93,170. Conversion features allow the holders to convert into shares of our common stock at a discount to the trading price of our common stock, ranging from 10% to 50%. We can pre-pay any portion of the debentures at any time at a 15% to 25% premium to the principal amount that is retired. From December 1, 2010 to April 15, 2011 we issued a total of 5,358,606 shares of our common stock for debt conversions to pay approximately $92,000 in debt.