Cary, there was a small initial disappointment for some that Pervasip was not acquiring another company, as they had touted, but was in fact being acquired and merged in a no-cash transaction.
But it is unlikely that this "disappointment" would cause the stock to nosedive as it did.
After all, Pervasip's current financial situation is dismal, so being merged with an outfit that has actual revenues and "brick-and-mortar" operations can only be a good thing. So the drop is yet unexplained.
There is one other possibility explaining the high volumes and drooping share price: shares dumping by CD holders.
There are 3 possible culprits for that ongoing massive share dumping:
1) the undisclosed CD holders that converted 1 billion shares in January. (unlikely, they must already have dumped that billion sdhares in January and February).
2) the three separate SC-13G entities that hold 1.5 billion PVSP shares.
Iff they are dumping now, they will file a disclosure form by the 10thy of next month.
3) Other CD holders, who are converting and duming now, Pervasip owes $500K to "various" CD holders, that are the "secured CD holders", Factor Fund and its 3 stooges. Plain Canary has voowed to prevent dilution by returning up to 1 billion shares to PVSP as CD holders convert and dump shares on the market.
Of course, others will explain the share price drop by nefarious actions of "Shorty". They can explain away anything by invoking Shorty.
News 
Market Data 
Discover 
AI
