NetCapital Signs Agreement to Buy Out Pervasip's Lender

Pervasip Corp., a provider of Voice over Internet Protocol telephone services, today announced 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 innovation 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 possibility to partner and invest.  Today we have found a time of great value."

Pervasip, which operates in the mobile VoIP (Voice over Internet Protocol) arena and recently became a carrier for video VoIP (Voice over Internet Protocol) telephone services, received orders last week for more than 300 video VoIP (Voice over Internet Protocol) 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 things are in contract with a person-to-person marketing company to sell its services.

"We are eager to bring additional technologies to Pervasip," added Fanning.  "Not all VoIP is created equal, and we have found the VoIP network at Pervasip to be of superior quality and reliability.  We in short plan to combine it with other technologies, just as wireless spectrum, so Pervasip can fully take advantage of the world-wide mobile Internet revolution."  

Fanning continued, "Microsoft's purchase of Skype is a significant validation of the mobile VoIP space.  We believe there is great value in Pervasip and that we can unlock that value for investors."

Pervasip Corp. delivers wholesale voice over IP telephone services for the residential and small business markets.  It differentiates itself through a in a class by itself combination of high quality voice services, flexible back-office capabilities and automated provisioning systems. Pervasip recently entered the mobile VoIP services and applications arena, which is expected to approach 300 million users by 2013. It offers a feature-rich, low-cost, high-quality alternative to traditional phone services. For more information, please visit www.voxcorp.net.

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