Developer of technologies in high-value emerging markets, Pervasip Corp (OTCMKTS:PVSP), with Zen Asset Management, on September 13, 2022, announced that Artizen reached sales of $1.6 million in August.
On Tuesday, PVSP stock decreased 7.07% to $0.0014 with more than 82.59 million shares, compared to its average volume of 16.48 million shares. The stock moved within a range of $0.0014 – 0.0018 after opening trade at $0.0015.
Pervasip Announces $1.6 Million in August Revenues and 3rd Quarter Guidance
German Burtscher, Pervasip’s CEO said that the firm witnessed the best sales month as a testament to the team’s hard work as well as Artizen branded products. He further stated that August also witnessed the close of quarter three and restructuring efforts of the last few months. Burtscher added that there has been significant improvement across a number of vital financial performance indicators.
The CEO also said that the company is rationalizing the business and lowering the underperforming assets and will continue prioritizing margins over revenue for building financial health. The CEO is confident in achieving a balanced ratio of revenues in all product categories, serving the firm well.
The firm also confirmed new product lines as well as planned acquisitions adding revenue, fresh growth opportunities, and a springboard for expansion into other recreational cannabis markets in the US.
Pervasip Corp owns Artizen Corporation and its subsidiary. Zen Asset Management LLC is a diversified asset management company founded for the acquisition, developing, and supporting companies in the cannabis industry.
“Marking the best sales month ever is a testament to the hard work of the team and quality of Artizen branded products in these difficult market conditions,” says German Burtscher, Pervasip’s CEO. “August also marks the close of the 3rd quarter and the restructuring efforts of the last several months are starting to show improvement across many key financial performance indicators, including cashflow for Q3. As we further rationalize our business, including shedding of underperforming assets, we will continue to prioritize margins over revenue to build lasting financial health and strengthening fundamentals important to support our growth. We are achieving a more balanced ratio of revenues across all product categories which will serve the Company well as it goes into Q4.”
PVSP stock is trading below the 20-Day and 50-Day Moving averages of $0.0015 and $0.0016 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0022.