Pervasip Enters Into Agreement to Absorb Dilution From Debt Conversions

WHITE PLAINS, NY -- May 15, 2015 -- InvestorsHub NewsWire -- 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.”
 
 “We also continue to work on our targeted acquisitions,” continued Riss.  “This new agreement is important to finalizing and closing our next planned acquisition transaction.”
 
 

About Pervasip Corp. 
Pervasip develops and delivers cloud-based technologies to emerging markets. The Company’s Canalytix subsidiary is a provider of advanced analytics through an integrated cloud-based platform that allows users to monitor and control greenhouse facilities through the cloud, including real-time data on energy usage, HVAC systems, lighting and costs.
 
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