Soul and Vibe Interactive Inc. (OTCBB:SOUL) Shoots For The Sky
Despite being actively traded for no more than 7 months the stock of Soul and Vibe Interactive Inc. (OTCBB:SOUL) is a real veteran as far as pump campaigns go. The company has suffered through four distinct rounds of touting and the fifth is looming over them.
It all began in early March with Stock Publisher and Penny Stock Crew bagging $100 thousand as compensation. Up until now this pump had the biggest effect lifting the pps up to $0.48 before the crash. At the end of the month another wave of alert emails were distributed but they had minimal effect on the stock’s movement.
Much the same happened in late April when Stock Publisher and Penny Stock Crew returned to the stock this time having negotiated a raise in their payment – $145 thousand. Despite the serious sum they only managed to boost the volume of traded shares. A more serious movement was observed in early July when SOUL rose from $0.2 to $0.3 on emails from TooNiceStocks, Hero Stocks and Stock Hunter.
But now the stock is miles above those prices. In just 3 sessions the ticker has simply exploded adding more than 560% to its value, surging past the $1 mark and currently sitting at $1.14. Investors have been rushing to buy in and yesterday 5.3 million shares changed owners.
The reason for this incredible run up the chart can be found in the company’s press releases for the last couple of months. SOUL have been steadily building an impressive roster of names in their advisory board as well as announcing a partnership with another OTC company – Vuzix Corporation(OTCBB:VUZI). Soul intends to develop games specifically targeted for VUZI‘s smart glasses technologies. How well will they fare against the industry giant GOOGLE is left to speculations.
What is certain though is that SOUL are in dire need of fresh funds. They finished the quarter ending March 31 with the following quite disappointing results:
- $1692 cash
- $5692 total assets
- $200 thousand total liabilities
- ZERO revenues since inception
- $250 thousand net loss
In their own words, the company will need around $2.5 – 3 million in order to move along with its business plan.
Trading a stock as pumped as SOUL requires even more caution to be exercised. The company is unable to support the current grossly overpriced levels and the crash may come at any time. Investors should be quick on their toes or accept the losses.
Yesterday’s session saw the stock of Petron Energy II, Inc. (OTCBB:PEII) add exactly 525% to its value making its shareholders quite happy. Bayside Corp. (OTCMKTS:BYSD) on the other hand was almost cut in half losing 40% and dropping back to $0.007.