I hope we can see more details on this deal listed below unfold- it appears they anticipate the remaining debt holders to hold less than a billion shares in total going back to the 5/15 agreement- In that time given the volume and trading activity I would think the market has already absorbed several of those shares already- good news is they are already baked into the Outstanding share counts but they look to be putting us under pressure currently even after the acquisition of Plaid Canary announcement. I would guess we are nearing the tail end of those shares.
I know during this time PVSP is going without formal IR and These are times when Formal Investor relations can sometimes come in handy for educated guesses as to how much is left to chew past before we can begin to see fresh air- I'm sure we will see it as the share price corrects and next run comes without anything near the type of previous pullbacks it has seen
WHITE PLAINS, N.Y., May 15, 2015 /PRNewswire/ -- Pervasip Corp. (USOTC: PVSP) ("Pervasip" or the "Company") announced today an agreement with Flux Carbon Corporation ("FCC") in which FCC agrees to absorb the impact of common stock issued by the Company to its secured debt holders who choose to convert their debt into shares of common stock.
Paul Riss, the Company's chief executive officer, said "We continue to work with our shareholders to create value and reduce our debt burden, and we are pleased to say that the remaining convertible secured debt will convert into shares of common stock, without impacting the total number of outstanding shares. FCC is our largest shareholder and currently owns 1,000,000,000 shares of common stock of Pervasip. We expect that FCC's agreement to do so will be sufficient to offset the dilutive impact as we satisfy our remaining secured debt."
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