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PERVASIP CORP NEW - PVSP STOCK NEWS

Welcome to our dedicated page for PERVASIP NEW news (Ticker: PVSP), a resource for investors and traders seeking the latest updates and insights on PERVASIP NEW stock.

Pervasip Corp New (PVSP) is a company that focuses on high-margin, branded product sales, strategically transitioning away from non-productive assets to enhance profitability and efficiency. The recent restructuring involves converting majority of the debt into equity in a new cannabis-focused entity to streamline operations and strengthen financial footing. CEO/President German Burtscher highlights the company's commitment to becoming a more focused and profitable entity, with a clear strategy to enhance shareholder value and drive sustainable growth.

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Pervasip Corp. reports 2024 first quarter revenues of $3.34 million, with a gross profit increase to $831,079 and gross margins expanding to 25%. Operating loss deepened to $618,623 due to one-time expenses, while operating cashflow improved. The company initiated debt and operational restructuring, focusing on higher margin products and preparing for the spin out of all cannabis assets.
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Pervasip Corp. reports 2023 revenues of $15.8 million, with a gross profit of $4.9 million and improved gross margins of 31%. The company achieved stable revenues amidst market challenges, with an operating loss of ($460,037) and positive cashflow of $409,507. Income tax liabilities increased due to improved gross profit. The company is restructuring debt and preparing to spin out its cannabis assets.
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Pervasip Corp. announces the restructuring of its cannabis operations to focus on the emerging psychedelic therapy market. The company plans to develop and commercialize new therapies for mental health disorders, leveraging its existing expertise and resources. This strategic shift is aimed at capitalizing on the growing demand for alternative mental health treatments and diversifying the company's portfolio.
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Pervasip Corp. successfully completes a comprehensive financial audit for fiscal years ending November 30, 2022 and 2021, reaffirming commitment to financial integrity and transparency. Key findings include full compliance with GAAP, accurate financial reporting, and strong internal controls. The company plans to restructure some subsidiaries to improve balance sheet health in preparation for the spin out of cannabis assets to its shareholders.
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Pervasip Corp. and its subsidiary, Artizen Corporation, have announced the filing of unaudited financial statements for Q3 2023. Key highlights include a 60% gross margin improvement, a 1,131% increase in operating income, and slight revenue growth. Cost of goods and services decreased by approximately 12.6% for the 9-month period, and gross profit increased by $1,210,141. EBITDA improved from 7.2% to 10.3%. The company also entered the Oregon market and terminated the brand licensing and acquisition for the Slurped syrup product line.
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Pervasip Corp. achieves break-even net income and operating cash in Q2 2023 compared to losses in 2022. SG&A down by $476,308. EBIDTA grows 437% to about $726,000. Gross margins improve to 35.11% in Q2 2023. Company enters Oregon market and establishes Artizen Nano LLC.
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Pervasip Corp. (OTCPK: PVSP) is expanding into the Oregon recreational cannabis market through its subsidiary, Artizen Corporation. The Oregon cannabis industry generated $1.1 billion in sales in 2021 and hosts over 1,300 licensed cannabis businesses. Artizen will establish a wholly owned subsidiary, Artizen Oregon, operating a grow and processing facility in Ashland. This strategic location will facilitate potential future interstate operations. The company aims to harvest and distribute products by late summer 2023 with an initial production capacity limited to 280 lights. Pervasip's broader strategy includes connecting markets in Washington, Oregon, and California, which together generate approximately $6.5 billion in annual retail sales.

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Pervasip Corp. (PVSP) announced its Q1 financial results for the period ending February 28, 2023. Key highlights include the transformation of its cultivation facility, resulting in a monthly profit of $25,000. The company successfully reduced its weekly debt repayments from $40,625 to $33,224, enabling nearly $30,000 in additional funds for operations. Despite a 4.9% sequential decline in revenue, SGA expenses decreased by 24%, indicating ongoing restructuring efforts. Furthermore, inventory values dropped by 43% YOY. While retail gross margins fell due to competitive pressures, wholesale margins improved by 9.5%. Looking ahead, Pervasip anticipates market strengthening in Q2, driven by decreasing bulk flower supply.

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FAQ

What is the current stock price of PERVASIP NEW (PVSP)?

The current stock price of PERVASIP NEW (PVSP) is $0.0003 as of October 15, 2024.

What is the market cap of PERVASIP NEW (PVSP)?

The market cap of PERVASIP NEW (PVSP) is approximately 1.6M.

What is the primary focus of Pervasip Corp New (PVSP)?

Pervasip Corp New (PVSP) is strategically transitioning away from non-productive assets to focus exclusively on high-margin branded product sales, aiming to enhance profitability and efficiency.

What recent restructuring has Pervasip Corp New (PVSP) undergone?

Pervasip Corp New (PVSP) has converted over 80% of its debt into equity in a new cannabis-focused entity to streamline operations, strengthen financial footing, and enhance shareholder value.

Who is leading the strategic changes at Pervasip Corp New (PVSP)?

German Burtscher, the CEO/President of Pervasip Corp New (PVSP), is spearheading the strategic restructuring and focus on high-margin branded product sales to drive sustainable growth and profitability.
PERVASIP CORP NEW

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1.61M
4.98B
30.33%
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