Pervasip Corp (PVSP)

[DSherman]

As of August, FF had already converted and reduced its loan by$523k, $362k of which reduced the new $2nn in notes to $1.638 mm. Short term borrowings at that point had been reduced by $161k. Somebody be mixing some deceptive stuff around here. Below is the exchange of $6mm in CDs for $2mm in CDs ( new notes)
"Effective February 15, 2013, Pervasip Corp. (the “Company”) entered into a securities purchase agreement with the Fund pursuant to which the Company issued to the Fund (i) an amended convertible debenture in the principal amount of $6,043,850, which was immediately canceled (“Amended Note 1”), (ii) an amended and restated convertible debenture with an issuance date of November 30, 2005 and an amended principal balance of $1,000,000 (“Amended Note 2”), and (iii) an amended and restated convertible debenture with an issuance date of May 31, 2006 and an amended and restated principal balance of $1,000,000 (“Amended Note 3” and together with Amended Note 1 and Amended Note 2, the “Amended Notes”)."