The SEC is not interested at all in Pervasip, they're just one failing VOIP company among hundreds.
There's a few (quite a few) forward-looking statements that either didn't pan out or were downright false when they were made, but that's vary very minor on the scale of SEC sins.
Where does VoxCorp gets the money to finance its losses ? That one is dead easy: it borrows it with Convertible Notes and Convertible Debentures. The shareholders ultimately pay for it all, with 40% to 50% of the money going straight to the CD lenders. (When PVSP borrows $100K at a 50% discount, $150K of PVSP shares get dumped on the market.)
We don't currently know what are PVSP current loss, how much of the latest $2.65 million of loans have been repaid (converted), what's the current O/S, and even if the company is still in business.
The heavy share dumpings of the first months of the year seems to have ceased, maybe because exemption 4(2) CDs can only be converted if the company is current in its financial filings.
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