Maulers, I'm sure NetCapital intends to make a buck for its $3.2M investment (so far they have invested only $300K).
Maybe they have found a way to put VoxCorp's smallish VOIP server park to good use.
One think is certain, to maximize their profits, they must get rid of the current shareholders.
And they can do that without buying one single PVSP share.
For example, with the support of the management, PVSP can file for a prepackaged bankruptcy.
The judge see the papers, sign the papers, and NetCapital, as main (only) creditor, becomes the new owner.
Neat and simple.
Pervasip has been in the VOIP business for years, always racking up huge losses.
If memory serves, in 2009 PVSP loss was $3.8M, on a measly $2.2M revenue.
At the time, they were in the "landline" VOIP business, with ... 100 customers.
In 2010, VoxCorp made several forays into mobile VOIP, including agreements with Fring and Nimbuz. None appear to have been successful.
But their revenues went DOWN all year, except a tiny +10K bump in Q2.
So for 2010 PVSP loss was $3.4M, on tiny $1.5M revenues. That's way past awful.
Pervasip new 2011 venture is to provide service for videophones. The Ojo videophones are not selling well at all. Their manufacturer. WorldGate, is on the very edge of bankruptcy, too.
So, maybe Fanning's NetCapital has really a plan to turn VoxCorp around, with or without current shareholders on board.
Or it is another Ben Piilani con job.
Time will tell. I'm in no hurry. I have no money riding on this pony, either way.
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