{"id":2306,"date":"2013-08-15T13:12:07","date_gmt":"2013-08-15T13:12:07","guid":{"rendered":"\/?p=2306"},"modified":"2013-08-15T13:12:25","modified_gmt":"2013-08-15T13:12:25","slug":"soul-and-vibe-interactive-inc-otcbbsould-crashing-after-reverse-split","status":"publish","type":"post","link":"\/articles\/soul-and-vibe-interactive-inc-otcbbsould-crashing-after-reverse-split\/","title":{"rendered":"Soul and Vibe Interactive Inc (OTCBB:SOULD) Crashing after Reverse Split"},"content":{"rendered":"

\"SOULD_chart.png\"On Aug. 1 Soul and Vibe Interactive Inc (OTCBB:SOULD<\/a>) announced a 1-for-3 reverse split. It became effective on Monday. Since then SOULD<\/a> has lost more than 40%. <\/p>\n

Yesterday it closed down 37.5% at $2 per share on approximately 259 thousand shares.<\/div>\n
When the split was announced, Peter Anthony Chiodo, CEO and President of SOULD<\/a>, said the aim was to improve the capital markets of the company and better the company’s position for up-listing. The immediate market reaction, however, was negative.<\/div>\n
A few days prior to the announcement Mr. Chiodo had cancelled 64,459,292 of his own shares in exchange for 130,000 Series B preferred shares. That action in effect boosted the ownership of the rest of the shareholders, but it didn’t do much for the market performance of SOULD<\/a>.<\/div>\n
One detail about the split which can be seen in the 8-K filing may be of some concern to shareholders. The reverse split didn’t affect the number of authorized shares. That could potentially be interpreted as a sign that SOULD<\/a> may need to issue a large number of shares and the potential dilution could scare some of the current shareholders.<\/div>\n
On the other hand, this shouldn’t come as much of surprise since the financial report for Q1 clearly showed the company had insignificant assets and in need of additional financing.<\/div>\n
The quarterly report for Q2 should be filed any day now. It may shed light on more details of interest for current shareholders and potential investors.<\/div>\n","protected":false},"excerpt":{"rendered":"

On Aug. 1 Soul and Vibe Interactive Inc (OTCBB:SOULD) announced a 1-for-3 reverse split. It became effective on Monday. Since then SOULD has lost more than 40%. Yesterday it closed down 37.5% at $2...<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[928],"class_list":["post-2306","post","type-post","status-publish","format-standard","hentry","category-news","tag-sould"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/2306","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=2306"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/2306\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=2306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=2306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=2306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}