Replies to post #17505 on Pervasip Corp (PVSP)

[The Profit Taker]

Diluting?? I don't see any diluting...volume is way to light for diluting. Seems to me like he is securing his share of the profit for a buyout or partnership as any smart investor would do!

[madeindet]

as a shareholder i have no problem with series C, it keeps the company in the hands of the founder. This is a safety net protecting their interests in what they built over the years, why do you care?

[crowin]

How long has Riss been diluting PVSP ?

Verified back to 2011!

CEO Riss owned only 9,088,533 shares as of November 28, 2011, so 8.92% of the company.
He has been diluting his own ownership, alongside eveyone else, of course.

But, despite owning only 9% of the shares, he controls 49% of all the votes, thru the newly created series C shares. Each Series C share counts as 1,959,565 common shares for voting purposes.

With the Series C Privileged shares, that he didn't buy but gave to himself, the CEO+CTO control 51% of the company, so they don't need shareholders approval to do whatever the heck they please with the company that they put so disastroulsy in debt over the years.
They cannot possibly be voted out of the island.