Soul and Vibe Interactive Inc (OTCBB:SOUL) is a well-known name in the field of mobile, video and computer games. All the published games of SOUL are extremely popular across the globe. In order to expand its reach and fulfill the funding requirements, SOUL has decided to enter into a common stock purchase agreement with the New York-based Beaufort Capital Partners, LLC. If everything goes fine, then SOUL may receive funding of $2 million.
Insights On The Matter:
As per the reports, funding will be received from sale of common stock to Beaufort Capital Partners. LLC. The Registration Statement on Form S-1 has already been filed by SOUL for a better execution of the deal. The next step is to register 10.72 million shares of Common Stock. Both the companies have agreed to keep the initial agreement tenure for 36 months.
The company is looking forward to using the proceedings of this deal for additional product development activities and general operational as well as administration purposes. The management of SOUL is very happy to see the result of this deal and expect the company to touch new heights in the coming months. Peter Anthony Chiodo, President and CEO of SOUL, said in an interview that 2014 was one of the best year for the company in terms of financial and administrative accomplishments.
SOUL took some wonderful steps in the previous year, which have started showing their results. Not only the comapny launched a few new games, but also expanded its operations. It strengthened strategic partnerships and started generating revenues, which boosted the morale of the entire management team. SOUL looks forward to continuing this performance and generating new revenue resources in the coming months as well.