My own projection: bankruptcy.
Fair warning: I'm the resident basher/troll, I've been bashing this company since it was $1.20 a share.
The company has been losing money every quarter for at least the last 6 years.
They havee even defaulted on $14M of loans 2 years ago, and the defaulted on their proposed repayment schedule. Twice.
The lending company can now force them to bankruptcy any business day. Any other creditor with a 90+ days invoice can do the same.
Pervasip also has about $5M of other debts, most short-term debt carry 20% interest.
Last Q, PVSP posted $250K of revenues, a $337K operating loss, and a $781K comprehensive loss.
They also posted a tiny 2% uptick in revenues, 1 year after the launch of their Android app.
The only thing that allows PVSP stave off bankruptcy, is the sale of diluting shares, thru Convertible Debentures.
So far this year they made $494K from the sale of stock, and they also borrowed $351K.
With a balance sheet like that, they are headed straight for BK, while undermining their own stock value at the same time.
So it's a race between a near-certain bankrupty, and hypothetical new revenues from various sales of the app, regional sales, pay-as-you-go and maybe a "bucket app/wallet".
Suppose there is an actual ramp up in revenues, a reasonable proposition. Suppose it takes 4 quarters of increasing revenues for reaching break-even from operating revenues.
To achieve that, the company must: 1) increase revenues at a breakneck pace, someting difficult when you have no money for advertising. 2) avoid bankruptcy meanwhile.
Then you get 3): huge stock dilution, and a very low stock price, if the company survives.
So, that's my 2 projections: A) bankruptcy, or B) a marginal company with a couple billion shares at a sub-sub-sub penny stock price.
Let's see if the CEO is able to top last year's Letter to Shareholders, which was a huge heap of lies seasoned with heavy wishful thinking.
