Pervasip Corp (PVSP)

[Bjones2]

CEO bought 3.3m for .006 in November 2012

Paul paid $20,000 for 3.3 million shares 6 months ago, at price of .006 and now we are at .0019, down 66% from what he paid as an insider. I am sure he did not plan on throwing his money away and must of felt the .006 was a great deal. Time will prove it was a great deal.

20-Nov-2012

Entry into a Material Definitive Agreement, Unregistered Sale of Equity Securities,


Item 1.01. Entry into a Material Definitive Agreement
On October 24, 2012, Pervasip Corp. (the "Company") entered into a subscription agreement, as amended (the "Subscription Agreement") with the Company's Chief Executive Officer, Mr. Paul Riss (the "Subscriber"). Pursuant to the terms of the Subscription Agreement, the Company sold, assigned, transferred and delivered to the Subscriber 3,333,333 shares of common stock, par value $0.001 per share (the "Common Stock"), in exchange for an aggregate purchase price of $20,000, at a price of approximately $0.006 per share (the "Private Placement").

The Company used the proceeds of the Private Placement for general corporate purposes, including general and administrative expenses.