Soul and Vibe Interactive Inc. (OTCBB:SOUL) Are At It Once Again
It seems that our statement about the stock of Soul and Vibe interactive Inc. (OTCBB:SOUL) is as true as ever. The company is incapable of making a significant positive movement up the stock chart if it is not accompanied by a corresponding round of email touts. Yesterday’s surge of more than 34% only confirms its validity.
After around 8 email alerts started circulating in the evening of December 11 traders were once again attracted to the stock of the company resulting in 1.2 million traded shares placing Soul among the most traded pennystocks for the day. For comparison the previous session saw only 153 thousand shares changing hands.
The involved newsletters were much the same as the ones who pumped Soul in the end of September when we last covered the stock. Almost all of the affiliates of Sherwood Ventures – BeaconEquity, Penny Stock Finder, LightningStockPicks, issued at least one email. The compensation disclosed by them as $20 000. If you check our past articles about them it becomes quite obvious that SOUL may very well be the company with most pump attempts for the year.
On December 3 the CEO Mr. Tony Chiodo released a letter to the shareholders containing updates about the current operations of the company. Well, actually there was no new information and the company is still quite away from having a finished product. That is why investors largely ignored the PR and the stock only traded 25 thousand shares on that day.
Although the company has managed to somewhat improve their cash reserves through the issuance of new convertible notes their financial situation is still quite discouraging. They finished the quarter ending September 30 with:
- $85 thousand cash
- $89 thousand total assets
- $282 thousand total liabilities
- ZERO revenues
- $257 thousand net loss
In October and November SOUL issued another two convertible notes so for now they should have enough funds. But after the 1-for-3 reverse split done in August there is quite a lot of room for future dilution. After every pump-induced climb SOUL has always returned to its pre-pump prices. There is little evidence that this time it will be different.
The $2.5 million pump for Tiger Oil and Energy, Inc. (OTCMKTS:TGRO) posted another small gain during yesterday’s session. The stock climbed by close to 8% and closed at $0.58 per share.
