Oxford, MS 5/23/2011 (PennyPayDay) -- Pervasip Corp. (PINK:PVSP), a provider of Voice over Internet Protocol (VoIP) telephone services, today announced, in a press release, that a strategic investor, NetCapital.com LLC, has signed an agreement with Pervasip's lender to purchase all outstanding debt. NetCapital's Chairman, John Fanning, noted, "We have a track record of success with disruptive technologies, and Pervasip's technology is a true example of how game-changing vision and wisdom can be forged into a paradigm-breaking commercial product. We have been following Pervasip for years, waiting for the right opportunity to partner and invest. Today we have found a time of great value."
"We are pleased to have a friendly investor who wants to work with us to build value for our shareholders," said Paul Riss, Pervasip's Chief Executive Officer. "At this point in time, our original lender can no longer foreclose on our assets."
Pervasip, which operates in the mobile VoIP arena and recently became a carrier for video VoIP telephone services, received orders last week for more than 300 video VoIP lines and is now the carrier for Bausch & Lomb's video phones. The Company believes it will see significant growth as a service provider for video phones, as it is in contract with a person-to-person marketing company to sell its services.
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