Soul and Vibe Interactive Inc.(OTC:SOUL) - Here We Go Again
After a couple of quiet trading sessions for Soul and Vibe Interactive Inc.( OTC:SOUL ), yesterday the pumps started once again and in a flurry of activity we received more than 10 emails. It must be really disheartening for the promoters that despite their utmost efforts only the volume of traded stocks spiked to 800 thousand while the price went up only 8% to close at $0.35. A few days back we warned you about the start of a new pump campaign for SOUL, led by Inside Penny Stocks, who now seem to have given up. 1-2-3 Stock Alerts, The Stock Scout, Penny Stock Players picked up the torch and started touting SOUL's stock. Before you get too excited, here are some curious pieces of information: all three of them are owned by the same entity - Global Marketing Media LLC. and not surprisingly they have been compensated $50 000 for a 2 day promotional campaign. Surely they hoped investors had forgotten about the previous pump for SOUL that took place in the beginning of the month. The chart speaks for itself. As any smart investor should do we took a gander at the latest financial report for SOUL and the numbers we found were not pretty: [BANNER] $137 in cash $135 thousand net loss no revenue since inception 1 employee, who is also the CEO Believe it or not, some of the pumps were drawing parallels between SOUL and companies like Activision Blizzard, Inc. (NASDAQ: ATVI) and Electronic Arts Inc. (NASDAQ: EA). In February SOUL finalized a successful merger with Soul and Vibe Entertainment, Inc. Sadly this operation did nothing to improve their financial stability as Soul and Vibe Entertainment, Inc. reported $1400 in cash and a little less than $100,000 net loss for January-September 2012. Lets not forget about Mr. Peter Anthony Chiodo, CEO and sole employee of SOUL (excuse the pun). The promotional emails described him as an "22-year veteran of the video and computer game industry " with more than 200 published games. Even if that is truly the case, he controls more than 80% of the shares in the company, a big red flag for any future investor. Looking back we found one of the previous pumps of The Stock Scout that ended up disastrously. Back in late September 2012 they we grabbed a hefty compensation of $50 thousand to embellish Gunther Grant, Inc.( PINK:GNGR ). The stock crashed in a matter of days after the emails stopped and is currently hovering around its all time low. If you are considering spending your hard earned money on SOUL's stock, be sure to take into account all of the risks surrounding them as investing in the penny stock category is notoriously volatile and the company has a past track record of paid pump campaigns.