Soul and Vibe Interactive Inc. (OTCBB:SOULD) Bombs After Announcing Quarterly Results
Investors weren’t happy with the financial report Soul and Vibe Interactive Inc. (OTCBB:SOULD) filed yesterday resulting in a 36% slash in value. Currently the company has crashed back down to the pre-split price levels of $1.2. Although it has lost nearly 70% from its split-adjusted opening price of $3.75 last Monday the company is nonetheless still grossly overpriced and may continue correcting.
SOUL will find it hard to support a market cap of $44 million with the following fundamentals:
- $10 thousand cash
- $14 thousand total assets
- $212 thousand total liabilities
- ZERO revenues since inception
- $150 thousand net loss
The game developer has no real product and no product even nearing completion. Last week they were able to sustain a price of $2 per share thanks to a brief pump campaign. The last round of email alerts we received was from August 15 sent by Penny Stock Crew and Stock Publisher. Both of the newsletters disclosed receiving compensation in the amount of $60 thousand.
Now both of them have moved on to their next pick – Leisure Systems, Inc. (OTCMKTS:IALS). The company had already crashed hard in the aftermath of its previous promotional treatment from the start of the month. IALS suffered trough a week of constant losses and dropped from $0.5 to just $0.13.
SOUL have been trying to boost the confidence of their shareholders and for a time it seemed they were successful in doing so. The CEO canceled more than 60 million of his shares and they recently announced an agreement with the Mexico-based Larva Game Studios. The ticker is still however overly-reliant on artificial hype in order to climb up the chart. Most of the past positive movements of the stock have also been accompanied by a respective pump.
Yesterday the toy company Wild Craze Inc. (OTCBB:WILD) surged by 40% to close at a little more than half a dollar. Such an impressive jump was not surprisingly facilitated by a campaign with an expected budget of $800 thousand. The once mighty stock of Xumanii Inc. (OTCMKTS:XUII) may be maintaining its impressive traded volume but has been crashing ever since Awesome Penny Stocks stopped sending out touts. XUII are now at a record low of just $0.035.