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I used to be a moderator on this board. I lost interest after one of the many pump and dumps.
I was wondering what was going on, and I noticed they let their main domain name expire. Hysterical. Amazing people continue to think this is a real company. It's clearly not.
It was never, ever, their business model to produce a business, or even an app.
Their only business model was to earn ...
- salaries, funded with toxic debt
- vendor fees to friends, families, and related parties, funded with toxic debt
They have sucked out millions. Do the math. How much in "salaries" (to do what, exactly?) How much in "fees" to entities owned by insiders, of the family of insiders, or related parties? Were those "fees" even close to market value? How much in "rent" for a post office box that costs a fraction of what they list on their financial statements? Where did the rest of that "rent" go? Do you even need to guess?
Sadly, it's legal, so long as it is all disclosed.
If they had any intentions of building a business, they would take $1 salaries until they create one. But they don't. And they wont.
And remind me, who owns iHookup Social now? That was an asset that belonged to shareholders. Did shareholder receive anything for the sale of this entity?
How long before they issue more toxic debt?
Certainly within 90 days. I say within 30.
You may be right, but my reply was to the poster blaming the IR firm for the situation, as if they could have changed recent history.
the R/S was publicly filed and cited in several PRs.
While this has been a pump & dump in the past, the reverse was purely to create a higher share price (but a lower market cap) so they could sell more toxic debt. Right now, the share price is too low and they have too many shares outstanding, so they need to do a (massive) reverse so they can sell more toxic shares and pay their (inflated) salaries.
Nothing more.
Nothing less.
But what motivation would another entity have to merge with this POS?
What does FDBL bring to the table that is valuable? All they bring is a toxic shell. There are clean shells out there. There are companies with a business. FDBL has nothing.
As easy as it is to go public nowadays, and cheap too, why would anyone merge with this shell? It's a toxic shell, loaded up with billions of toxic shares. What value do they bring? It's the opposite of a "clean" shell. The fact that FINRA wouldn't approve a reverse -- something that almost NEVER happens -- should tell you all you need to know about the toxicity of this capital structure.
Correct.
The daily dollar volume was a paltry $1,345.
That maybe more than usual, but it's a minuscule amount.
They haven't been doing anything.
That isn't their job.
Their job -- their business model -- is to sell discounted shares to pay their salaries.
Period.
That's it.
They are not interested in doing anything to create value. It never has been. It never will be. You keep asking "why aren't they doing the professional/ethical thing." You've been asking it for years. The answer couldn't be more clear.
When someone shows you who they are ... believe them.
Seriously?
Are we being lied to?
Lied?
When have you been told the truth?
900,000 historical users .... what does that mean? Someone downloads the app, hates it, removes it (or never uses it again). That counts, right? Does that generate a nickel of revenue (no). How many reports did you see here (let alone elsewhere) of the app not working, or bad experiences, or nobody to talk to. How many tried it after the J-Lo nonsense and never came back because it wasn't ready for prime time and dozens of better apps were?
Glowing PRs? Gee, I wonder why. What are they selling?
Oh yeah.
It's the same things they've always sold.
The only thing they've ever sold.
Discounted, diluted shares of stock. How do you sell that? With glowing PRs that mislead suckers.
C'mon.
Fan Pass has already been passed over.
Saw this on Facebook:
Mike Portnoy
May 15 at 1:55 PM ·
Have you guys heard about @cameo yet?? A bunch of my fellow musicians are already on board, so I decided to check it out...and it’s awesome! It’s like your own personal meet & greet right to your phone or computer! Ask me anything you want: advice, questions, I can show you around my kit or my house (if I’m home) or you can gift it to people you love for greetings, birthday & holiday messages...or even to people you don’t love and I can flip em off for ya! ??
Anyways I’m now on board the Cameo train, so hit me up and let’s have some fun! ??
https://www.cameo.com/mikeportnoy
I suppose if someone complains it will likely be deleted.
/shrug.
you are simply wrong.
Wrong.
Incorrect.
Misleading.
Wrong.
you can't purchase more than 25% of the average daily volume. Period. It is incredibly easy to track, and the company would get in significant trouble. The broker too. The max they could have purchased would be around 5500 shares and only if they didn't move the price, which with this low volume would have been impossible. That is simply a fact.
That wasn't a rumor.
That was speculation.
They are not interested in getting out of their debt situation. They never have been.
They are not interested in developing a viable business. They never have been.
Never. Not once. Not for a single day.
They care about printing shares and selling them at a discount to pay their salaries.
THAT IS ALL.
Until you get that, you will continue to be a victim of this scam.
Are the preferred shares being reversed, too?
I haven't read through the filing, but it wouldn't surprise me if they didn't, further screwing common shareholders.
So you are suggesting that our Eagle Scout, by-the-book, CEO would let this happen? Especially when it's so incredibly easy for FINRA to track and identify such things?
C'mon.
The reverse split(s) made buybacks far less valuable for this stock, because they killed the volume. Even if someone wanted to get around rules, the volume restrictions make it nearly impossible.