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Pervasip Corp - PVSP STOCK NEWS

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

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Pervasip's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Pervasip's position in the market.

Rhea-AI Summary
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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33.33%
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Rhea-AI Summary
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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Rhea-AI Summary
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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End-of-Day
50%
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Rhea-AI Summary
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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Rhea-AI Sentiment
End-of-Day
33.33%
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Rhea-AI Summary
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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Rhea-AI Summary
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

OTC:PVSP

PVSP Rankings

PVSP Stock Data

2.17M
30.33%
Wired Telecommunications Carriers
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United States
White Plains