Replies to post #13396 on Pervasip Corp (PVSP)

[Arthur]

I was partly wrong that they would reach 120M outstanding shares by the end of last quarter, and soon after increase or bust their 150M A/S.

As it turned out, they would have reached 120 million share and more by August 31, had they not changed their policy to always keep enough shares at hand to cover ALL outstanding debentures at all times, as per SEC regulations.

Instead, they changed their accounting, and created a "derivative" containing all their debentures.

The end result is that it is now impossible to correctly estimate the actual Oustanding Shares, and the actual Float. There is $1.5M worth of outstanding debentures that can be converted into shares, at will, any day, anytime.

That's what made them ran afoul of the DTCC.

They recently increased their A/S to 250M shares, which are still insufficient to cover the debentures we already know of, not to mention the new debentures floated to NetCapital since August.

And you guys worry about short-sellers!