Soul and Vibe Interactive Inc. (OTCBB:SOUL) Recovers
Soul and Vibe Interactive Inc. (OTCMKTS:SOUL) remained unfazed by Monday’s crash and yesterday moved along as if nothing had happened. The company retook much of the lost graound and closed 17% up at $1.39. Investors also showed reinvigorated interest and traded volume was just shy of 5 million shares.
The reason investors kept their high spirits was the PR news that came out before the opening bell. In a rather surprising move the CEO of SOUL has decided to cancel much of the common shares he owns. More specifically 64.5 million shares will be retired bringing the total outstanding amount to 46 million shares. In exchange Mr. Chiodo will receive 130 thousand non-convertible preferred stock granting 1000 votes each.
Although such a move is quite peculiar for a pennystock and it boosted the confidence of their shareholders, SOUL‘s fundamentals are still as depressing as ever:
- $1692 cash
- $5692 total assets
- $200 thousand total liabilities
- ZERO revenues since inception
- $250 thousand net loss
The company is striving to be a game developer and publisher but so far they have nothing to show for themselves. The earliest of the 5 games they should be working on is scheduled to be released in late spring 2014 and even that is questionable because on their official website we were unable to find any signs of products or games section.
avoid the stock altogether.
Another gaming company – OBJ Enterprises, Inc. (OTCBB:OBJE) has also found its place among the most traded stocks. They too rely primarily on PR hype articles in order to attract investors but at least have a playable demo of their debut game.
The uncharacteristically long pump for Xumanii, Inc. (OTCMKTS:XUII) seems to be losing steam once again. Yesterday XUII barely finished 6% in the green sitting at $0.39.
