Pervasip Corp (PVSP)

[DaubersUP]

VSTR 10Q:

Overview

We are an Internet-based company that intends to attract worldwide subscribers by providing consumers with digital games, videos, music, voice, texting and other clod-based applications. We seek both free subscribers and revenue-generating subscribers. For example, we allow subscribers to play games of chess for free and not receive rankings. We charge a fee to play the game against advanced players and to receive a ranking. We operate on an automated basis. We believe that Internet operations, customer sign-ups and game playing should occur without human intervention so that they can scale rapidly in the event the number of subscribers of the game begins to rapidly grow on a viral basis. We rely significantly on the programs we purchased, including the assets of NetGames.com, and we intend to acquire other Internet-based games and programs that can generate revenue with a minimum of personnel.



The games on our website use software technology that provides easy-to-use graphics, and allows real time interactivity with a competitor. Our one operational website is www.chess.net, which allows a person to play chess online, without typing any words, unless the person wants to use the website’s chat feature. People have the option of loading and playing games through their web browser with no downloading, or a person may download our chess software in order to play rated games and enter tournaments. Once the necessary software has been downloaded, a customer is required to provide certain personal and financial information, including a user name, password and bank or credit card information, in order to open an account. A person need not open an account to browse the website or play pick-up games. In order to enter chess tournaments and develop a track record that allows a person to be ranked against other players, a person must purchase a monthly, quarterly or annual membership. We sell memberships for $4.00 per month, $10.00 per quarter and $30.00 per year.



We plan to develop other interactive Internet-based games, including ones that are designed for smart phone users. We recently entered into an agreement to license and distribute songs, music videos and games over the Internet, using a platform that has been built by an independent party. In the fourth quarter of fiscal 2014, we began reselling a mobile voice over Internet Protocol, or VoIP, application to smartphone users.

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