Replies to post #77584 on Pervasip Corp (PVSP)

[Arthur]

The asset sale value doesn't appear in these financials.

Think about it: the company underwent a 88% crash in revenues, then sold its main asset.

On September 30, 2014, a wholly-owned subsidiary of the Company entered into a contract of sale to transfer certain assets and liabilities, including a copy of internally developed mobile content delivery software to Vaxstar LLC (the “Buyer”). The Buyer simultaneously assigned the contract of sale to Valuesetters, Inc. (the “Assignee”).

The Buyer agreed to pay the Company 40,000,000 shares of common stock, par value $0.001, of the Assignee. If annual revenues in the second year of operations of the business exceed $1,000,000, the Company will receive an additional 9,900,000 shares of Assignee’s common stock.

The Company and the Assignee signed a license agreement that allows the Company a non-exclusive right to use the software. In addition, the Company agreed to become a wholesale customer of the Assignee, and the Assignee agreed to provide technical and customer support services for the Company’s customers.