Replies to post #39868 on Bitzio, Inc. (fka BTZO)

[I.B.Broke]

So this isn't true?

Pervasip Enters Into Agreement to Absorb Dilution From Debt Conversions

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."