Pervasip Announces Third Quarter Financials
SEATTLE, Oct. 17, 2023 (GLOBE NEWSWIRE) -- Pervasip Corp. (OTCPK: PVSP) (“Pervasip” or the “Company”), a developer of companies and technologies in high value emerging markets, and its wholly owned subsidiary, Artizen Corporation, today announced the filing of its unaudited financial statements for its 3rd Quarter ended August 31, 2023.
- SEATTLE, Oct. 17, 2023 (GLOBE NEWSWIRE) -- Pervasip Corp. (OTCPK: PVSP) (“Pervasip” or the “Company”), a developer of companies and technologies in high value emerging markets, and its wholly owned subsidiary, Artizen Corporation, today announced the filing of its unaudited financial statements for its 3rd Quarter ended August 31, 2023.
- 60% Gross Margin Improvement: Gross profits for the three months ended August 31, 2023, totaled $1,994,465 compared to $1,257,843 during the same period in 2022, an increase of almost 60%, leading to 2023 3rd quarter gross margins of 45%, compared to 29% for the 3rd quarter 2022.
- The quarter-over-quarter comparison best reflects the results of the Company’s cultivation investments and process improvements.
- Income from Operations increased by 1,131%: Operating income rose to $591,751 for the quarter ending August 31, 2023, compared to $52,312 for the same period ending August 31, 2022.