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It's been two days, still waiting for that "Good news coming soon."
It's been more than 7 months since the "immediate" spin off was announced.
If he receives material, non-public news and the rest of you don't, that is a violation of the law.
The company is violating Regulation FD, and could be fined significantly (personally)
If he is trading on that information, it is insider trading, a felony, and he can (personally) go to jail.
And since others have been unable to get the brothers to respond to calls and emails, I'm highly skeptical.
Smart people are able to look critically at facts and evidence and adjust opinions based on those facts.
For example, it has now been seven and a half months ... more than 200 days .... since the company announced it would "immediately" spin off Fan Pass.
Now, perhaps there has just been some challenges, and it's taking more time. I mean, I've said from day one that I think this spin off will happen, because it is their path forward. It is the easiest way to enable them to a) blow up Friendable, as they've destroyed its cap structure, and b) use Fan Pass, with a new, cleaner, tighter cap structure (via a ghastly back-door reverse split) as a vehicle to raise more capital through toxic debt.
I still think it will happen.
But it's been 200 days-plus. We got a vague "update" which really didn't update anything.
Don't you think you deserve a real update?
I share your concern, but I only recently became a Mod.
They've been planning to launch Fan Pass for more than a year.
Preparing for the future.
The J-Lo video was how long ago?
Preparing for the future.
The last press release issued was more than two months ago.
Preparing for the future.
The last tweet was more than a year ago.
Preparing for the future.
This is their news release page on their own website. It's blank.
http://ir.friendable.com/news-releases/
Preparing for the future.
Their corporate fact sheet is 14 months old, and was created by an IR firm they haven't worked with for a year, because the IR firm fired them.
http://ir.friendable.com/wp-content/uploads/2017/01/FDBL-Fact-Sheet-2017.pdf
Preparing for the future.
everything takes money but its a shame so much money has been squandered by the bros
And as I've mentioned before, they pulled a bait and switch on you and you can't see it. They took the app out of the pubco. They are profiting themselves.
I have repeatedly refused to call this a scam. You can check. I've been a naysayer for more than a year, since the stock was much higher than it is now, and I heave consistently refused to call it a scam.
I have instead called it a failure.
It cannot succeed at this point because of the capital structure. Too many shares at too steep of a discount have been issued to the worst of the worst toxic funders, and the capital structure is simply beyond broken.
But when you have such a situation, with no meaningful revenues, and consistent losses, and an ugly cap structure, for management to continue to draw such high salaries is awful. These men should have:
- Brought in professional management
- Stopped drawing any salary, let alone options
- Sought out independent board members.
They did none of that. Instead, they lined their own pockets, again and again.
the app, iHookUp Social, still exists.
The revenues and any profits are going to the brothers, not to shareholders. It is no longer part of the public entity.
Shareholders received nothing for this. They were not informed it had been removed.
It was, effectively, stolen.
The most-likely scenario is:
- FDBL kept alive until the brothers can find the funds to launch the corporate entity Fan Pass, get it registered, and do the dividend. This will be a back-door reverse split, with one Fan Pass share for each 100,000 or 200,000 or more shares of FDBL
- All attention then will be on Fan Pass. Still no FDBL news of significance, but you'll see an attempt to pump Fan Pass.
- Immediately, or very close, you'll see new toxic loans. They have one coming when they launch, and there will be more. Dilution will begin immediately.
- At some point, six or eight months from now, having announced nothing new on FDBL, they will have the new Fan Pass entity acquire Fan Pass for some incredibly small amount, none of which will go to FDBL shareholders.
You'll end up being squashed down to a smaller ownership percentage of Fan Pass than you had in FDBL, with a lower outstanding so they can issue new toxic shares to pay their salaries.
If they follow their normal course, Friendable will continue to exist, but not be part of the new Fan Pass entity, and any revenues will go directly to the brothers, not shareholders. That's what they did with iHookUp Social and others.
Yes, you are wrong.
For annual numbers (Q4) they have 90 days, so end of March.
Definitely a spoof. Both companies, as public companies, would be required to announce any such agreement within 48 hours. Neither did.
And why in the world would Facebook buy Friendable? Facebook could copy Friendable in 20 minutes and it would cost them nothing.
Less than $9,000.
It's paltry, pathetic volume, really.
Checkmate mobile is the private holding company for viable assets. It is owned by the brothers.
Friendable, Inc. pays Checkmate over-market fees for development and other services. They could do it for less elsewhere. They could probably do it for even less internally. But they'd rather pay (themselves) more as a contractor. It's basically a second salary.
Add to it, they "gave" iHookUp to that entity.
Add to it, now they've given Friendable Free.
If you can't see what is happening here, you just aren't looking.
This so-called management team has a long history of "stealing" assets from shareholders, and "moving" them to entities that are not the public company.
iHookUp Social for one.
Investors bought the stock thinking that app would generate revenues and profits. It took longer than expected/promised to launch (sound familiar?) then they "pivoted", introduced a new "product", and quietly shifted iHookUp to an entity the brothers owned, but shareholders didn't.
They are CLEARLY doing that again here.
If it's not disclosed in the 10Ks and 10Qs, it's not related to the public entity. That goes for products (iHookUp), vendors like these Indian entities, and funding partners.
Clearly, Check Mate, which is not part of the public company, will now benefit from "Friendable Free" and you will not.
Such an effort would cost money.
Friendable, Inc. has no money.
If you read the disclaimer in the link in the article (near the end) you see that:
"EG has received three hundred and eighty thousand dollars and one hundred million restricted shares of Friendable, Inc. in consideration for it’s work with Friendable, Inc. EG can receive an additional one hundred thousand dollars for future work with Friendable, Inc. If you have any questions you can contact us directly at emerginggrowth1@gmail.com"
So, they sold toxic stock to write a $380k check, and gave them an additional 100,000,000 shares. Free-trading shares. Which their disclaimer says they plan to sell. Like, immediately.
And why did nothing happen?
The high-net worth individuals said "no thanks." Seriously, wouldn't you?
This is my only alias, and I have not lied. You are free to believe what you want, but I have been honest -- and correct -- throughout.
I have been correct ...
every ...
single ...
time.
You have been wrong since the beginning.
So who's peddling BS here?
1. I have explained why I am here, not that I have to explain anything to you.
2. No news will drive this. No news has. There is SO MUCH selling, it overwhelms any buying from any news. There is no way this can run.
3. There isn't any meaningful good news. They need money, and the stock price is too low to sell enough toxic debt. They need money to develop, money to launch, money to market, money for support, etc., etc.
I've posted maybe 10x in the last month, so stop with the "constant drivel" BS. Just go fly to India already and go door to door looking for the gold nugget for FDBL.
They are not thanking me.
You are 100% correct.
First two things to consider when evaluating a penny stock:
1. Management
2. Capital structure
Bad management will (always) sink even a good idea
And even the best management can't overcome a toxic capital structure.
FDBL was the double-whammy ... lousy management and an incredibly toxic capital structure. Plus, no real product. No-brainer.
"In 2018, the Company intends to identify a merger candidate for Friendable, Inc., the ideal candidate would be in the technology sector, having a solid management team, business model and ultimately an “X” Factor opportunity for explosive growth in an underserved or emerging market. Additionally, the Company intends to complete the spin off “Fan Pass, Inc.”, file an S1 registration statement and become a stand-alone public company under the Fan Pass brand. Friendable, Inc. management also intends to resume their respective positions (those currently held at Friendable) as well as taking on these very same responsibilities for Fan Pass, Inc. Part of completing the Fan Pass, Inc. spin out and S1 registration statement will be a distribution of Fan Pass, Inc. shares to all Friendable, Inc. (FDBL) shareholders of record (record date TBD). "
This stock has traded less than $1,700 total this week. Three sessions, and not even two thousand bucks. Volume has evaporated. Postings have evaporated. Interest has evaporated.
So far this week, the stock has traded less than $500 in two sessions.
Joke.
$FDBL MOVIN IN RIGHT DIRECTION.. NICE MOVE!
I am certain they will launch the corporation by then. I don't think the app/platform will launch, but the corporation will be registered.
It's their vehicle for more toxic debt to fund their salaries.
For years, they have been earnings $200,000 annual salaries, in addition to any option grants they may have exercised and sold.
They also pay related parties to do work, such as development, hosting, etc., and of course those fees are heavily marked up.
Plus, they removed iHookUp Social from the public entity, and put it in a private entity they own and benefit from. I'm sure that's not an isolated thing either.
It all adds up.
UP - UP - and AWAY!! GET READY!!
This heel-turn is the best since Hulk Hogan joined the NWO.
Eh.
Too far from Fenway.
Don't remember any good bars nearby.
Mystic Mall kinda sucks.
Automatski has already stated that their trademark pre-dates Friendable Inc's, and is for India, not the US. This makes it pretty clear that they are operating a separate Friendable, unrelated to this public company.
And if Friendable, Inc. tried to sue, they'd have to do it in India, and they'd learn that their IP was formed after the Indian IP, so Automatski has priority over the trade name.
As a result, it is increasingly clear that Automatski is not related in any way to this company.
Can anyone tell me what the stock market was at in September of 2016? DOW will be a nice index to use to correlate out damages. Not only the lost investment but the value it could have been elsewhere if we weren’t all duped but these guys.
Spalkeen, I am curious. If LTA pissed you off, did I as well?
I really did try to be factual. And I still have avoided using the word "fraud"
If on March 31, 2018, your claim proves false and FDBL remains at $0.0001/$0.0002, will you admit you were wrong?
What about April 30?
May 31?
June 30?
Give us some window here. You and others have been talking about "news" and a "run" for a year or more. Some for several years. So how long?
And I claimed that at the time.
If they haven't disclosed it, it's not related.
Period.
And I'm telling you, if they don't disclose a related party, they are violating the law and subject (personally) to significant fines, and could be prohibited from being an officer in a public company.
It isn't in their filings.
So it's not related.
Period.
If one of the Rosatinos have a mortgage on their home, is that a liability for Friendable, Inc. and its shareholders?
Or is that a personal debt that is unrelated to the public company?
If one of the Rosatinos has student loans, is that a liability for Friendable, Inc. and its shareholders?
Or is that a personal debt that is unrelated to the public company?
If one (or more) of the Rosatinos own property that the rent out ... is that an asset belonging to Friendable, Inc. and its shareholders?
Or is that a personal asset that is unrelated to the public company?
Just because the Rosatinos are involved doesn't mean it's part of this particular public company. God knows, as little as they've achieved over the last year, they couldn't possibly be working full-time for Friendable, Inc. They've been earning huge salaries for years, and it makes sense they'd buy other businesses or assets, and start other, (cough), "ventures." We already know things like iHookUp Social are no longer part of THIS entity but the Rosatinos are still involved. So we KNOW they have other "ventures" and you, as a shareholder of Friendable, are not involved in them.
But if those "ventures" were related to Friendable, THEY WOULD HAVE TO SAY SO.
Once more, and I'll keep saying it ...
Any entity that has an established relationship with Friendable must, by law, be disclosed in their SEC filings. If they were forming a new entity that was related, they are required to disclose it.
They have not.
It is absolutely not related.
Stop dreaming and read the filings.
Discussing the facts, the broken promises, the massive dilution, the ugly income statement and the uglier balance sheet, the launches that are a YEAR behind, and the hefty salaries the Rosatinos continue to earn is not bashing.
It's called Due Diligence.
None of that is factually inaccurate. None of it. None of it is based on hope, or prayer, or speculation.
It's the opposite of criminal. You should thank him.