Soul and Vibe Interactive Inc. (OTCBB:SOUL) Falls Down

Soul and Vibe Interactive Inc. (OTCBB:SOUL) dropped for a second day in a row closing at $1.22. Traded volume was less then half of the 6 million shares traded the previous session. After the amazing climb that brought them from $0.2 to as high as $1.5 SOUL have been one of the most traded stocks on the market.

Unfortunately for investors the company is surrounded by red flags. They have almost no cash reserves, ZERO revenues since inception and no product even close to completion. The company is doing all it can to support the current grossly overpriced levels by issuing PR articles almost daily.

The CEO managed to postpone the inevitable crash by canceling 64.5 million of his shares but the effect proved to be short-lived. At least they managed to sign an agreement with a Mexico-based game developer – Larva Game Studios. According to the terms the studio will develop SOUL‘s Grimwhiskers game and its own IP – Last Day On Earth. The deal was significant because now SOUL have associated themselves with a product that has some signs of being worked on.

Late in the evening yesterday the company announced that 3-for-1 reverse split has been approved so the market of their stock should be quite volatile today. Currently they are 3% down.

In the past the company has also participated in quite a lot of paid promotions considering their short history. Almost every climb they have made was supported by a corresponding wave of alert emails. Investing in them now is a risky venture with the stock already started correcting. Next week or so the financial report for the second quarter should be filed and even more traders could decide to shed their holdings.

Xumanii, Inc. (OTCMKTS:XUII) is still among the most traded stocks but it has lost a lot of momentum. All the efforts of Awesome Penny Stocks to praise the company are now unable to make an impact. Petrosonic Energy, Inc. (OTCMKTS:PSON) lost almost a third of their value to close at $0.63.