Soul and Vibe Interactive Inc (OTCBB:SOUL) entered into an investment deal with Beaufort Capital Partners, LLC. It executed a common stock purchase deal with Beaufort through which SOUL will receive an amount of up to $2 million.
As per the terms of the deal, Soul and Vibe has filed a registration statement on the “S-1”. It intends to register almost 10.7 million shares of common stock. The term of the investment deal between two companies is 36 months. The funds generated will be used to fund activities related to product development.
The management view
Peter Anthony Chiodo, the CEO and President of Soul and Vibe, said that 2014 was a great year. It was filled with significant accomplishments. The company took some strong steps towards growth in 2014. It introduced first games that yielded revenue in FY2014.
With the help of capital raised in FY2014, it expanded strategic partnership. Now, the capital raised in FY2015 will help Soul and Vibe to fund a diversified product line. It is both cross-platform and multi-platform in scope.
Recurring release calendar
The objective is to ascertain a recurring release calendar on the basis of which company can expand development titles at any given time. The launch of recurring release calendar will market the company as a publishing label and will cross promote product line and games. It will generate awareness for IPs and games, and prompt user acquisition.
The expansion of product line is a driver that will benefit both the shareholders and company. The operating capabilities will grow and support expanding product line. The expansion will result in revenue-generating and licensing opportunities. Leib Schaeffer, the Managing Member of Beaufort said that Soul and Vibe’s achievement in 2014 made it a target company to enter into an investment agreement. The strategic relationships and wide product pipeline will mutually benefit both the companies.