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Of course there is a "need" for a reverse. It's patently obvious to anyone who can do second-grade math.
For the three months ended 9/30/17, the most-recent quarter, the corporation burned through:
924,574 in operating costs
175,000 in investing activities (Hang W/)
and
Brought in 979,770 in convertible debentures
That explains why cash went from $119,804 to ZERO during the period.
They have no cash. None.
Now, historically, they have funded operations by issuing convertible instruments priced at a steep discount to the market. At or under $0.0001 they can't do that. The price is too low.
So, to continue funding operations, including:
- App hosting to a family member of $141,011
- G&A (salaries to the brothers) of $216,498
- Product development (to a family member) of $133,000
(a total of nearly $500k a quarter) they need to issue more converts, and they need a higher price to do it.
So, they are left with two choices and two choices only:
- Reverse the stock so they can dilute more
- Give up.
I put it at 50/50.
There is no third option.
Disclosed WHAT to me?
The foolish idea that Automatski is under NDA, when they tweet about it? A tweet would, duh, violate an NDA.
Or that FDBL is somehow under NDA for a consumer-directed public offering? You don't keep such offerings secret. You tell everyone to try to get enough buyers.
THAT IS WHY AUTOMATSKI TWEETS!
C'mon. Be serious.
Dude, the stock is below .0001 and they generated less than $800 a month in revenue.
C'mon.
My son is in college and he earns more than that.
It's far more likely that this is the new business the Rosatinos are involved in now that FDBL has massively failed. They will spin off Fan Pass, so they can issue more toxic debt, and focus on this thing, whatever it is, and it will have NOTHING to do with FDBL.
Nothing.
There is no NDA.
Automatski is not under NDA. If they were, they could not tweet.
And neither is Friendable.
It's all fabricated.
So there is no ICO for FDBL.
Automatski is not involved with FDBL, and will not be buying, FDBL.
This was not, is not, and will not be the savior for FDBL.
The company still has no assets, no meaningful products, has not issued a PR in nearly 4 months, has not launched Fan Pass, has not issued a dividend, and the stock is not going up. Not now, not soon.
But, management continues to draw healthy salaries.
All the conjecture, all the talk about crypto and bitcoin and ICOs was irrelevant, and should be deleted as off-topic.
All the speculation about Automatski buying Friendable was total BS.
Hi
That company is registered in US and has IP in US. We are registered in ASIA and have our IP in Asia.
They were incorporated in 2007-2008CE. We in 2006 CE.
Their quarterly revenue run rate is $2500 per quarter. And are a listed company with a marketcap of about $1.6m.
We are a privately held company with a valuation of over $60bn. Our http://crowdsales.online platform itself which hosts our ICO's and ITO's itself has more than $8bn assets under management.
I hope that helps.
And apologies for the late reply. Due to our ICO's we receive an unmanageable quantum of emails. We make every attempt to answer each and every one. But it takes time.
With warm regards
The Automatski Team
-
Retire 70 % o/s would be doable.
Growth? They made $2,298 in the last 10q.
fdbl will most likely move after the holidays if not sooner.imo
And how would you pay for this pursuit?
If this infringer was next door to the Rosatino estate, pursuit would be expensive.
If they were on the other side of the country, it would be doubly so.
They are in India. The cost would be, for Friendable, astronomic.
That's not a case a lawyer would take on contingency.
And they don't have the assets to fund such litigation.
It's pretty much a given that acquisition rumors have been fabricated.
There's no acquisition candidate.
And there's no acquisition.
at the end of 2016 fdbl showed $119,800 cash in the till now they show zero cash so imo someone else paid for automatski[pretty expensive too] or the bros cut a deal with automatski.imo
There is nothing worth buying here.
If you saw something you liked, just copy it. Hell, use the same name. They don't have the funds to take you to court and do anything about it. Or change the name. It's not very exciting anyway. There's simply nothing here worth buying. Nothing.
where did it mention that?
Show me.
The Q says the just flushed it. No mention of any recourse or efforts to recoup. They don't have the capital to sue. It's just gone.
On October 7, 2016, the Company entered into a Securities Purchase Agreement (the “Alpha SPA”) with Alpha Capital Anstalt (“Alpha Capital”), to issue and sell up to, in principal amount, $1,615,000 of convertible notes, payable in four tranches (the “Alpha Notes”). The first tranche of $465,000 was funded on October 7, 2016 (the “Initial Closing Date”) and the second, third, and fourth tranches of $375,000 were funded, respectively, during the first week of each of November 2016, December 2016, and January 2017 (the subsequent closing dates and, with the Initial Closing Date, each a “Closing”).
The Company used a portion of the proceeds of each Closing to purchase Series A Convertible Participating Preferred Stock of a private entity named Hang With, Inc. (“Hang With”). Alpha Capital is currently Hang With’s majority shareholder. On October 7, 2016, the Company entered into a Securities Purchase Agreement with Hang With (the “Hang With SPA”) to buy up to 330,397 shares of Hang With’s Series A Convertible Participating Preferred Stock (the “Preferred Stock”) for $750,000. On the Initial Closing Date, the Company paid $225,000 and was to receive 99,118 shares of Preferred Stock. The Company paid Hang With $175,000 on each of the subsequent three Closings. In connection with entering into the Hang With SPA, the Company and Hang With entered into a Software License Agreement (the “License Agreement”) in which Hang With is licensing the intellectual property of the Hang With apps to the Company. As part of the Hang With SPA and as compensation for the Company entering into the License Agreement and the future development agreement, Hang With was to issue 154,185 shares of Preferred Stock on the Initial Closing Date, and was to issue 100,000 shares of its common stock to the Company.
The Company attributed much of the value of Hang With to Hang With management’s representation that, in the history of its own apps, it had a certain amount of total users and a range of monthly active users. Hang With believed, prior to the Hang With SPA being signed, that, with the Company’s investment, the monthly active users would be at the higher end of the range within a short period of time. Based on these representations by management the Company believed that it could specifically market its own apps to the minimum monthly active users of the Hang With app that Hang With management’s represented existed.
The Company believes that, after the November 2016 Closing, the Hang With app was removed for a period of time from the app stores on which it appeared and that the app was shut down for a period of time. At this point, Hang With effectively had zero monthly active users. In addition, the Company was not able to utilize Hang With’s technology in the Friendable app as was contemplated by the License Agreement due to Hang With’s technology being, in the Company’s view, out of date. The Company is currently seeking to negotiate a settlement with Hang With regarding the Company’s claims against Hang With.
As of December 31, 2016 Hang With had not delivered any of the preferred or common shares to the Company. During the year ended December 31, 2016, the Company had paid Hang With $575,000 which has been written off as a loss on investment. During the nine months ended September 30, 2017, the Company had paid Hang With $175,000 in connection to the fourth Closing which has been written off as a loss on investment.
There is less than zero chance Fan Pass will qualify for traditional bank financing.
I really can't wait. It's why I'm sticking around. I missed the last short, and oh what a short it was. Fan Pass will be even better. A black diamond run straight to the bottom!
For more than a year you've been saying that, while people who may have followed that advice have turned dollars into fractions of pennies. This has been an absolute dumpster fire. The Q is ghastly. None of the pie-in-the-sky dreams of cheerleaders are validated or supported or even mentioned. No revenue. No hope. Nothing but the brothers getting paid and billions of shares being issued.
Because the brothers will NOT go without their pay!
The ONLY thing this stock is for is paying the brothers. That's it. That's the list. Nothing else.
When they lack funds, they accrue the pay so it's an obligation to the corporation that will have to be paid should they ever get funded.
And they are required to disclose that.
The better question you should be asking is why do they deserve $400k salaries when they can only generate $2k in QUARTERLY revenue. Doesn't that seem to be too high of a salary?
Also not appearing anywhere in the 10-Q. ...
Automatski
ICO
Keep drinking that kool-aide, boys.
Words not appearing in the 10-Q:
Checkmate
Venntro
And only references to iHookup are the historical ones related to the change in names/businesses.
Once more: iHookup has been removed from the public company. FDBL shareholders no longer have any interest in this app. It's no longer part of this situation.
And you should ask yourselves (or management) why.
You are welcome to bury your head in the sand. It's your money. The Rosatinos thank you very much for being oblivious while they steal from you.
And they'll thank you again when Checkmate "takes over" Friendable without any consideration to long-suffering FDBL shareholders.
Then tell me, sir, why does this not appear in their regulatory filings?
Search the last 10-Q, or the one before that, or the one before that ... other than referring to the former company name, or the transaction that involved that former company, where does iHookup appear?
I checked. It doesn't.
They generated two thousand dollars in revenue in the last quarter. A measly, paltry, $2k. How much did iHookup generate for Checkmate?
They are REQUIRED by LAW to disclose these details about their business. If iHookup was still a part of the public company, they are REQUIRED to say so. They don't. It isn't. And it's obvious that this "asset" was moved to Checkmate.
I'm sorry you don't believe facts. I really don't know what else to tell you. It's all there in black and white. Look for yourself. Call management and ask. Write a letter.
And by the way, you should learn what FINRA does, and does not do, while you are at it.
I may not be an authority, but on this, I'm right.
Jesus, dude, you don't get it.
They changed the corporate name. They "launched" a new app, Friendable, to replace iHookup. And when you stopped paying attention, they transferred iHookup to a separate, non-public entity.
So, once more:
- you as a shareholder in FDBL used to own iHookup
- Now you do not
- And you got nothing ... NOTHING ... for this.
There's a word for that: "stolen"
iHookup is now only and solely owned by the Rosatinos and Checkmate. You no longer have any interest in this app. Sorry.
It's not relevant to this board, and the posts should be deleted as off-topic.
If any of these things had any relevance to Friendable, they would have been required to disclose them previously. Several quarters ago and in each filing since.
These things have not been disclosed.
Therefore, the ONLY conclusion is that these items you are postulating on have NOTHING to do with Friendable.
There is NO OTHER CONCLUSION, other than the Brothers intentionally and criminally lying in their federal disclosures.
you are the one jumping to conclusions.
The facts are right there for you.
we know for sure that venntro media is/was running the ihookup social for the bros.whether the bros took advantage of the venntro ventures aspect is anyones guess at this time?imo
They are required, under penalty of perjury, to disclose the sale of the asset within 4 business days.
That did not happen.
Because prior reports did not disclose it, you can assume that this asset is no longer part of Friendable. Period. You can dream. You can hope. It's just not there. Why? Well, if I were a shareholder, I'd damn well want to know.
And if they had a relationship with a Venture group, they'd be required to disclose that too. You don't need to wait for the newest 10-Q. It would have been REQUIRED to be in the prior one.
how would you know ?for all you or we know possibly ihookup social was sold to the venntro group?imo
as i previously said we will see whats stated in this new quarterly report but as of now venntro is running ihookup social for fdbl.running means just that running.imo
Based on what info? Because you say so? That's not how this works. Is this amateur hour in OTC land or are you the amateur? This may and possibly will get delisted at some point in relative near future, but it won't happen tomorrow or soon. The company has been up to date on filings and this delay is following similar previous patterns. Nothing is getting delisted soon.
nothing made up here or throwing around company names.fact is venntro is running ihookup social for fdbl.imo
Very simple and sad that some are making hings to be complicated and trying to investigate what's going rather than simply looking at the facts and inserting company names to legitimize what they are doing.
It's not some grand scheme. It's really simple.
iHookup was in Campbell.
They changed the name. Stopped focusing on iHookup.
Started another business.
Shifted your attention.
But the iHookup business continued. It's just not owned by the shareholders anymore. So who owns it?
It's not hard to figure out.
The Rosatinos own it, and are benefiting from it.
They took it from you. Period.
You can spin, you can change the subject, you can find the word "venture" and get excited as if it that word means anything to you at all. It doesn't. You can dig through SoS filings and do Google searches until your eyes bleed.
It doesn't change any facts.
They took it out of the public company, and kept it for themselves. They just hoped you wouldn't notice.
The problem here is that you aren't paying attention.
How much money -- or anything -- did you as a shareholder get when the iHookup business was taken private, and the corporation shifted to a new business model?
Someone, somewhere is profiting off iHookup. You owned it. Now you don't. What did you get for this transaction? Anything?
I'll give you three guesses as to who is profiting. First two guesses don't count. Go.
It's ok. He's gotten crushed here. He's turned a fortune into a pittance, and he's embarrassed. All he has left is cheerleading. He's been wrong on every prediction, every time. Nothing has worked out.
Maybe Walmart will take 150,000 shares to cover the $12?
Probably not.
We know what the compiling means
I haven't been wrong yet.
Q2 2017: $2,000 in reported revenue.
That's 2 thousand dollars over 90 days.
Most of us make at least that in a week.
Q1 2017: $3,000 in reported revenue
(so Q2 was down 33% sequentially from Q1. Negative growth).
Q4 2016: $4,000 in reported revenue
Q3 2016: $5,000 in reported revenue (still a paltry sum, but more than twice what they generated in the most-recent quarter).
So they are, per their own filings, going BACKWARDS.
Source: https://www.otcmarkets.com/stock/FDBL/financials#
Friendable is NOT growing. Has not been growing. Will not be growing.