Pervasip Corp (PVSP)

[Arthur]

Since PVSP is losing money, and has no salable assets, they can only trade one kind of debt for another.

That's what they did. They needed $350K to settle $7M of debt (that's 5¢ on the dollar), so they borrowed that sum, plus $150K to pay a few overdue bills and make payroll, but they signed $2M of deb for it. That's $4 on the dollar. Plus interest.

And no, they cannot cancel that new debt at 10¢ on the dollar. Sounds like a Kars idea.

But they can issue shares, billions of shares...