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-- Election of each of Pervasip's 5 directors to a one-year term
-- Approval to increase the number of authorized shares of capital stock
to 251,000,000
-- Approval to allow our board of directors to implement a reverse stock
split or effect a stock combination of up to 1 for 10 shares, if the board
of directors deems it appropriate
-- Ratification of the appointment of Nussbaum Yates Berg Klein & Wolpow,
LLP as the company's independent registered public accounting firm
Resolutions for the 2009 equity incentive plan and the 2007 contingent stock option plan did not receive enough votes for approval.
Pervasip's CEO, Paul Riss, noted, "We appreciate the support and interest that our shareholders have exhibited, and we look forward to the upcoming launch in July of Zer01's Mobile VoIP product. As we noted in our proxy statement, we do not have any plans to effect a reverse stock split at this time, although we did ask the shareholders to give our board of directors the ability to implement a reverse split, if appropriate, before our next annual shareholders' meeting. We did something similar in a 2001 shareholders' meeting, approval was received, yet a reverse split was not implemented. Although we are pleased that we have shareholder approval, no action will be taken at this time, nor do we have any current plans to take such action."
About Pervasip
Pervasip Corp. (OTCBB: PVSP), through its wholly-owned subsidiary VoX Communications, delivers wholesale voice over IP (VoIP) telephone services for the residential and small business markets. Leveraging a nationwide VoIP network and internally developed proprietary software and product features, VoX offers a private-label digital voice program sold to cable operators, WiMax carriers, CLECs, ISPs, cell phone carriers and resellers. Pervasip differentiates itself through a unique combination of high quality voice services, flexible back-office capabilities and automated provisioning systems that enable a quick turn-up for service providers at attractive margins. It offers a feature-rich, low-cost, high-quality alternative to traditional phone services. In addition, Pervasip offers carrier-type services for voice origination and termination, as well as toll-free and other IP-based services. For more information, please visit www.voxcorp.net and www.pervasip.com.
Forward-looking statements: This release contains forward-looking statements that involve risks and uncertainties. Pervasip's actual results may differ materially from the results discussed in the forward-looking statements. Factors that might cause such a difference include, among others, certain risks and uncertainties over which the company may have no control. For further discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see the discussions contained in Pervasip's Annual Report on Form 10-KSB for the year ended November 30, 2008 and any subsequent SEC filings.
AT PERVASIP: Paul H. Riss Chief Executive Officer Ph: 914-620-1500 phriss@pervasip.com
SOURCE: Pervasip Corp.
mailto:phriss@pervasip.com
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