Pervasip Corp (OTCMKTS:PVSP) Stock Gains Following Earnings Update

Pervasip Corp (OTCMKTS:PVSP) is involved in the development of technologies and companies in the emerging market of high value. Yesterday the company made an announcement with regard to its financial results for the first fiscal quarter that ended on February 28, 2023.

It should however be noted that the numbers released by the company were not audited. It could be a good move to take a look into some of the key highlights. The company managed to transition its 35000 square foot facility and as a result, it had from being a negative operating margin asset to one with a net positive monthly contribution of $25,000.

The weekly cash repayments for servicing its debts had also been reduced to $33,224 from $40,625 and that freed up as much as around $30,000 on a monthly basis. Pervasip noted that the first quarter is generally the slowest one of the year but the decline on a sequential or year-on-year basis were not as big. On a sequential basis, it declined by only 4.9% while it declined by 2% on a year-on-year basis. The cultivation operations had also been right-sized by Pervasip during the quarter.