Soul and Vibe Interactive Inc. (OTCBB:SOUL) Starts Correcting

[[tagnumber 0]]The explosive run that Soul and Vibe Interactive Inc. (OTCBB:SOUL) were making up the stock chart finally faltered and yesterday the company suffered a 20% correction. The ticker opened with a gap down and continued sliding sitting at $1.18 at closing time. Interest in the stock also decreased although remaining quite high at 4.6 million traded shares. [[tagnumber 1]][[tagnumber 2]]As we warned you in our previous articles about SOUL, the company has no way of sustaining such high price levels. Any surge made by their stock was facilitated by a paid pump with the current performance being no different. Many investors say that Best Damn Penny Stocks have been sending out SMS alerts regarding SOUL. But the pump may be coming to its end after yesterday‘s crash and BDPS announcing a new pick on August 5. [[tagnumber 3]] [[tagnumber 1]][[tagnumber 2]]SOUL is a game developer and publisher who at the end of the last quarter had:  [[tagnumber 1]] [[tagnumber 7]] [[tagnumber 8]]$1692 cash[[tagnumber 9]] [[tagnumber 8]]$5692 total assets[[tagnumber 9]] [[tagnumber 8]]$200 thousand total liabilities[[tagnumber 9]] [[tagnumber 8]]ZERO revenues since inception[[tagnumber 9]] [[tagnumber 8]]$250 thousand net loss[[tagnumber 9]] [[tagnumber 18]] [[tagnumber 3]] [[tagnumber 1]]So with negligible cash reserves and assets, no revenues and no actual product the company even after yesterday‘s drop has a market cap of $129 million. And the likelihood that the financials are going to improve is slim at best. In the last 10–k SOUL disclose working on 5 games set to be released in 2014 and 2015 which means no revenues till then. That is if the company is even working on their products because for now they have nothing to show excepted some concept art. [[tagnumber 3]] [[tagnumber 1]][[tagnumber 2]]In a somewhat desperate move, trying to entice investors, SOUL released a PR article after market closed yesterday. In it they were proud to inform the public that the CEO of the company is going to cancel 64.5 million of his common shares. We must admit that such a decision is hardly ever seen in the land of pennystocks. This will bring the outstanding shares down to 46 million from 109 million. [[tagnumber 3]] [[tagnumber 1]][[tagnumber 2]][[tagnumber 27]]What the ultimate effect of the statement is going to be remains in the field of speculations until trading begins today. But for now the company remains as risky as ever. It has already started retracing its steps downwards and it is unclear where a support level will form.[[tagnumber 3]] [[tagnumber 1]][[tagnumber 2]]Yesterday Primco Management Inc (OTCBB:PMCM) once again rose to become one of the most traded stocks in the market. The often pumped company gained exactly 50% in value and closed at $0.0057. Xumanii, Inc (OTCMKTS:XUII) also proved that they can still fight and closed 28% in the green. They have been the pick of Awesome Penny Stocks for months now and have crashed on several occasions. [[tagnumber 2]][[tagnumber 3]] [[tagnumber 3]]