The improved market conditions in the video game industry have prompted all the companies to expand their operations and make use of this second to none opportunity. In this series, Soul and Vibe Interactive Inc (OTCBB:SOUL) has decided to enter into an investment agreement with another firm named Beaufort Capital Partners, LLC.
Insights On The Matter:
The primary objective of this investment agreement is to generate additional funding. According to reports, SOUL may receive additional $2 million from Beaufort Capital Partners, LLC upon the successful execution of this common stock purchase agreement. Beaufort Capital is a New York based limited liability entity, which is known for providing financial aid to companies across the globe.
Terms and Conditions of The Agreement:
Both the companies want to execute this agreement as soon as possible. SOUL has already filed a registration statement on Form S-1. There are total 10.71 million shares of common stock that SOUL is looking forward to registering. All of these shares are issuable upon successful execution of the agreement. Even though there are no set guidelines given for the usage of this funding, but reports claim that it will be used for the general operations, administrative tasks and additional product development activities.
Management of SOUL seems very optimistic about this agreement and hopes that it will help the company to expand its reach in other parts of the world as well. According to Soul and Vibe Interactive Inc (OTCBB:SOUL) President and CEO Peter Anthony Chiodo, 2014 was one of the best years for the company in terms of financial and non-financial achievements. SOUL didn’t only launch its first game, but also started generating revenues. It also took various steps for expanding strategic alliances and partnerships in the last year, which proved to be beneficial for company’s overall growth. In 2015, the primary focus will be to continue the growth cycle and touch new heights.