SEC Contract Filing

Filing Date: 2015-03-27

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>pvsp8k03192015ex10_1.htm
<DESCRIPTION>SECURITIES PURCHASE AGREEMENT
<TEXT>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Exhibit 10.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">SECURITIES PURCHASE AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">THIS SECURITIES PURCHASE AGREEMENT (this &ldquo;<U>Agreement</U>&rdquo;),
is made effective as of MARCH 25, 2015 (the &ldquo;<U>Effective Date</U>&rdquo;), by and among FLUX CARBON CORPORATION(&ldquo;<U>Buyer</U>&rdquo;)
and PERVASIP CORP. (&ldquo;<U>Company</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">WITNESSETH</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">WHEREAS, the Company and the Buyer are executing and delivering
this Agreement in reliance upon an exemption from securities registration pursuant to Section 4(2), Rule&nbsp;506 of Regulation
D (&ldquo;<U>Regulation D</U>&rdquo;), as promulgated by the U.S. Securities and Exchange Commission (the &ldquo;<U>SEC</U>&rdquo;)
under the Securities Act of 1933, as amended (the &ldquo;<U>Securities Act</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">WHEREAS, the parties desire that, upon the terms and subject to
the conditions contained herein, the Company shall issue and sell to the Buyer, as provided herein, and the Buyer shall purchase
the Securities (see definition below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">NOW, THEREFORE, in consideration of the mutual covenants and other
agreements contained in this Agreement the Company and the Buyer hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>PURCHASE AND SALE OF SECURITIES</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>The Securities</U>. Subject to the terms and conditions set forth
in this Agreement, the Buyer shall purchase from the Company and the Company shall issue to the Buyer one billion (1,000,000,000)
shares of the Company&rsquo;s COMMON STOCK, par value $0.00001 (the &ldquo;Common Stock&rdquo;), and 100,000 shares of the Company&rsquo;s
SERIES H PREFERRED STOCK, par value $0.00001 (the &ldquo;Preferred Stock&rdquo; and together with the Common Stock, the &ldquo;Securities&rdquo;)
which are convertible into shares of the Company&rsquo;s Common Stock (the &ldquo;Conversion Shares&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>The Purchase Price</U>. Buyer shall purchase the Securities in
exchange for 50 Class A units and 40 Class B Units of CANALYTIX LLC, representing 90% of the issued and outstanding Membership
Interests of CANALYTIX LLC (the &ldquo;<U>Purchase Price</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>The Closing</U>. The Closing of the purchase and sale of the
Securities shall take place at 9:00 a.m. Eastern Standard Time on the second (2<SUP>nd</SUP>) business day following the date hereof,
subject to notification of satisfaction of the conditions to the Closing set forth herein and in Sections 6 and 7 below (or such
later date as is mutually agreed to by the Company and the Buyer) (the &ldquo;<U>Closing Date</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>BUYER&rsquo;S REPRESENTATIONS AND WARRANTIES</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Buyer represents and warrants that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>Investment Purpose</U>. Buyer is acquiring the Securities and,
upon conversion of Preferred Stock, the Buyer will acquire the Conversion Shares then issuable, for its own account for investment
only and not with a view towards, or for resale in connection with, the public sale or distribution thereof, except pursuant to
sales registered or exempted under the Securities Act; provided, however, that by making the representations herein, such Buyer
reserves the right to dispose of the Common Stock and the Conversion Shares at any time in accordance with or pursuant to an effective
registration statement covering such Conversion Shares or an available exemption under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>Accredited Investor Status</U>. Buyer is an &ldquo;<U>Accredited
Investor</U>&rdquo; as that term is defined in Rule 501(a)(3) of Regulation D.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>Information</U>. Buyer and its advisors (and his or, its counsel),
if any, have been furnished with all materials relating to the business, finances and operations of the Company and information
he deemed material to making an informed investment decision re