Pervasip Corp (PVSP)

[Arthur]

If you skim deeper, you'll see that Pervasip had to pay a $260K penalty to JDM for the failure of that agreement.

And the NetCapital agreement lasted only 10 days before NetCapital "resold" the agreement to an entity known as 112359 Factor Fund, LLC, after that deal, PVSP owned a cool $2M to Factor Fund, instead of $250K and warrants to NetCapital.

Factor Fund proceeded to convert and dump 40 million PVSP shares the day the contract was signed, many weeks before the new convertible financing was disclosed.

In February 2013 the Fund converted $78,690 of principal into 39,345,576 shares of common stock.

On February 15, 2013 we issued 39,345,576 shares of the Company’s common stock, valued at $141,644 for payment on an outstanding promissory note of $78,690.

Since then, Pervasip has borrowed an other $665K from Factor Fund, convertible into shares at 40% discount off the recent minimum price of the stock.

Penny stock alerts and the subsequent P&D benefit the convertible debenture lenders, and a few flippers, but generally not the shareholders, which are always left holding the (empty) bag.