Pervasip Corp (OTCMKTS:PVSP) Gathering Upward Momentum
[[tagnumber 0]][[tagnumber 1]]After some impressive performance in March we saw Pervasip Corp (OTCMKTS:PVSP) begin to hesitate in April and go to a downward slide that pushed it back to triple zero land in late–May.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Since then, the ticker has been hovering around the $0.001 per share mark. The main reason for the upward performance was the fact that the company decided to get involved in the legal cannabis business a few months ago. Fact is, however, that [[tagnumber 6]]PVSP[[tagnumber 7]] has had some really terrible financial performance lately and the report for the quarter ended February 28, 2015 just proves that.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $2,623[[tagnumber 13]] [[tagnumber 12]]current assets: $219,788[[tagnumber 13]] [[tagnumber 12]]current liabilities: $12,177,301[[tagnumber 13]] [[tagnumber 12]]quarterly revenues: $894!!![[tagnumber 13]] [[tagnumber 12]]quarterly net loss: $1,989,982[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Those numbers surely look horrible, especially compared to previous reports from the company, which were not very optimistic either. Still, that isn’t stopping [[tagnumber 6]]PVSP[[tagnumber 7]] from gathering upward momentum for quite some time now.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]After going nowhere on June 25 we saw [[tagnumber 6]]PVSP[[tagnumber 7]] record the past 5 sessions in the green. The ticker’s latest gain of 10% pushed it to $0.00165. Although the stock is recording positive movements we see that the volumes are around the average and a total of 72 million shares were traded in yesterday’s session, generating $115 thousand in daily trade value.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]There is, however, the matter of the vast amount of debt that is in the form of convertible notes we wrote about in our previous article. This means that a lot of highly discounted shares might have seen the light of day, which is almost always a recipe for disaster.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Do thread carefully and be sure to do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]
