PVSP have completed negotiations for a restructuring of our senior debt that would result in the reduction of more than $1.0 million of debt,” said Paul Riss, Pervasip’s chief executive officer. “That transaction, as well as the $1.9 million debt reduction announced last week is critical to our ability to structure targeted acquisitions that we hope to complete in the coming weeks and months. We are pleased to have the cooperation of our various creditors in our restructuring efforts. We intend to provide an additional update on our efforts next week.”