Pervasip Corp (PVSP)

[woody85]

Skimming through the 10-q, liking what i see so far. Company cleaning up debt by issuing convertable notes way above current pps... Still reading Not done yet


On February 6, 2013, the Lender cancelled its agreement with JDM and entered into a contract to sell all remaining debt due by the Company to another party, NetCapital.com, LLC. (“NCC”) for a price of $350,000 on the condition that the Company also issue three-year warrants to the Lender to purchase 10 million shares of common stock of the Company at a price of $0.01 per share. The Company issued such warrants on February 15, 2013 and valued them at approximately $35,000 using the Black-Scholes method with an interest rate of 1%, volatility of 264%, zero dividends and expected term of three years.

http://ih.advfn.com/p.php?pid=nmona&article=58504253