Pervasip Corporation is a communications company that provides wholesale and retail Voice over Internet Protocol (VoIP) services. Pervasip focuses its resources on the growth of its wholly owned subsidiary, VoX Communications. Using its own nationwide VoIP network, VoX offers scalable broadband voice, origination and termination services to cable and wireless operators, as well as enhanced VoIP telephone service to the small business and residential marketplaces.
Earlier this week, Pervasip announced that it executed a series of agreements. These agreements were to refinance and eliminate something in the amount of $6 million in senior secured debt.
Last week, Pervasip made payments of over $5 million to its secured lenders which led to the immediate elimination of the debt due to its senior secured lender.
Paul Riss, Pervasip’s chief executive officer said, "This financing is a significant milestone for Pervasip. We believe we have a strong technology platform, an exceptional team of technologists and innovators, and a sizeable head start with our current generation of mobile VoIP and video apps and our existing subscriber base. We believe our debt was holding us back. WebRTC is a tremendous opportunity that we believe we are well-positioned to exploit. We are focused on increasing and servicing our subscriber base. We are very pleased with the refinancing and eliminating of a substantial majority of our secured debt because we believe this series of transactions will allow us to start exploring options for long-term equity financing at enhanced valuations."
Mark Richard, who is the company’s chief information officer added to Riss’ statement by saying, “The world changed a few years ago with the introduction of smartphones and tablets. It will continue to change in 2013. Imagine a world where your phone, tablet, iPad, TV and computer all communicate on a common platform. Imagine video chat on any platform through your web browser. That's WebRTC. It's where our team and our technology are heading. The day where you can seamlessly connect video and voice without worrying about how the underlying technology works is closer than people can imagine. I want to connect to the person irrespective of whether they are at their desk, on their smartphone, or their tablet, and let the technology figure out where they are and how they are connected."
WebRTC is Web Real-Time Communication. It is an open source project that is led by Mozilla along with a number of other companies. The idea is to enable Web with real time communications capabilities. This includes video calls and file sharing. We recently spoke about Mozilla’s Firefox OS which is doing both video calling and file sharing.
There are benefits to WebRTC, like being able to shop online for a product and clicking on a product page where you can have a live video call with a customer service representative who shows you the gadget you are thinking of buying. You could also have the ability to share almost anything on any of your mobile devices with others.
WebRTC is also something that is not just for consumers but possibly greater appreciated on the business end. The ability to use WebRTC when you are at a business meeting could be a life saver. Using your tablet, you could connect with someone at the office who can give the client more details via a video chat, while at the same time sharing files that the client needs to see.
Edited by
Brooke Neuman
