Soul and Vibe Interactive Inc. (OTCBB:SOULD) Breaks Through $1 After a Week-long Climb
The stock of Soul and Vibe Interactive Inc. (OTCBB:SOULD) had a strong performance throughout last week and recovered some of the ground it lost. Although interest has remained quite low and traded volume barely surpassed the average, on Friday the ticker managed to break the $1 mark and closed at $1.02.
This bounce comes immediately after the devastating drop that the company suffered right after it did a 3-for-1 reverse split. They lost almost 90% percent of their value in just two weeks plummeting from $3.4 to as low as $0.31. The current uptrend is not supported by any new official announcements and no paid pumpers have been involved.
The last email alert for SOULD came on August 15 from Penny Stock Crew who disclosed a compensation of $60 thousand for their services. This particular newsletter has been touting the company for some time now. They first tried to boost the ticker on March 4 for the much bigger sum of $100 thousand, then came the April 28-29 attempt which marked the largest amount of money passed around – $145 thousand.
Invariably, after each climb the ticker has been crashing down to its pre-pump prices. And that shouldn’t be a surprise for anyone who has seen their fundamentals. For the second quarter of 2013 the video game developer announced the following results:
- $10 thousand cash
- $14 thousand total assets
- $212 thousand total liabilities
- ZERO revenues since inception
- $150 thousand net loss
It is unclear for how long the current uptrend can be sustained when the company is not generating any revenues at all and the situation is not going to change in the near future. So be careful and do your own due diligence before making any decisions.
Still, SOULD was among the few who had a positive session on Friday. Medical Marijuana, Inc. (OTCMKTS:MJNA) crashed by nearly 20% and returned to $0.15 per share while Hemp, Inc.(OTCMKTS:HEMP) took an even bigger hit sliding down by 32% to just $0.018 per share.
