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Monday, September 14, 2015 11:07:31 AM
$HKUP Placed On Breakout Watch from Wall Street Newscast
Highlights
- Move to Friend and Following Aspect of Mobile App
- Now has 600,000+ Mobile Users
- Anticipate Dramatic User Growth
- $1.5 Million in Funding in Place
- Toxic Notes Locked into Friendly Hands
- Strong Accumilation on Chart Indicator
- 140 Million Shares outstanding, tight float
Short-Term Target: $0.04+
"It is a very exciting time for the company and we intend to communicate actively over the next few months as new roll-outs, designs, members and more continue to emerge from Friendable," stated Robert Rositano, Jr., CEO, iHookup Social, Inc. "As always, we will be highly transparent and inform our shareholders of all new or relevant developments."
Toxic Notes Placed in Friendly Hands
As any experienced trader knows the biggest killer to any investor rally is when outstanding notes are converted and dumped into any run by known toxic funders. These have been a major issues over past few years as small public companies find their only source of working capital is from these known toxic note funders, which always results in sharp dilution and price decreases. These toxic funders have little to no interest in the long-term prospects of companies they fund, and tend to sell once matured deep below the bid usually resulting in major losses for small investors in these stocks.
On June 9, 2015, HKUP effected a major consolidation of its convertible debt on June 5, 2015, with Coventry Enterprises, LLC becoming the major note holder of the Company. Coventry entered into Debt Purchase Agreements totaling $240,818 with the Company's other convertible note promissory holders, thus placing a large overhang of potential converting notes into friendlier hands.
This is a major development as this now gives HKUP room to run without fear of constant selling of new shares from note conversions from group of toxic funders.
$1.5 Million in Funding
In addition to this note roll-up, HKUP also announce it has secured $1.5 million in financing from Alpha Capital, through way of introduction from Coventry Enterprises, providing the Company with necessary funds to execute its 12 month growth plan of its mobile GPS social networking platform.
About iHookup Social:
iHookup Social is a mobile-social app positioned at the intersection of location based connections, love and adventure, stimulating hyper-local opportunities for our user community as well as the venues and merchants competing for their business.
The company seeks to redefine the way people connect, find love or embark on an adventure. iHookup Social is where real people make real connections and businesses pay to be their host. The by-product of our business model inherently produces "hyper-local" advertising opportunities for the company, driving customers to local venues and / or businesses. The laws of attraction or making a new connection have shifted, with the traditional meaning of "being social" or "meeting up," now taking a backseat to meeting online or through a mobile device and apps.
Making connections through online or mobile devices has become a dominant part of today's mobile-social lifestyle, across various social circles, age groups, race, gender and demographics. iHookup Social takes the virtual connection and moves it toward a real-life interaction, facilitating connections and offering-up locally relevant hot spots and locations to meet up with these new connections, allowing iHookup Social to become both matchmaker and concierge. This combination provides a unique opportunity for consumer brands to offer incentives to a growing network of socially active mobile users on a hyper-local basis.
About Wall Street Newscast
Located in New York City, Wall Street Newscast (WSNC) has been providing Wall Street investor presentations for both public and private companies since 1998. WSNC offers a wide-range of services to companies and investor relation professionals to discuss their recent news announcements, earnings reports, and corporate events to a diverse network of individual and institutional investors on Wall Street. www.wallstreetnewscast.com
Highlights
- Move to Friend and Following Aspect of Mobile App
- Now has 600,000+ Mobile Users
- Anticipate Dramatic User Growth
- $1.5 Million in Funding in Place
- Toxic Notes Locked into Friendly Hands
- Strong Accumilation on Chart Indicator
- 140 Million Shares outstanding, tight float
Short-Term Target: $0.04+
"It is a very exciting time for the company and we intend to communicate actively over the next few months as new roll-outs, designs, members and more continue to emerge from Friendable," stated Robert Rositano, Jr., CEO, iHookup Social, Inc. "As always, we will be highly transparent and inform our shareholders of all new or relevant developments."
Toxic Notes Placed in Friendly Hands
As any experienced trader knows the biggest killer to any investor rally is when outstanding notes are converted and dumped into any run by known toxic funders. These have been a major issues over past few years as small public companies find their only source of working capital is from these known toxic note funders, which always results in sharp dilution and price decreases. These toxic funders have little to no interest in the long-term prospects of companies they fund, and tend to sell once matured deep below the bid usually resulting in major losses for small investors in these stocks.
On June 9, 2015, HKUP effected a major consolidation of its convertible debt on June 5, 2015, with Coventry Enterprises, LLC becoming the major note holder of the Company. Coventry entered into Debt Purchase Agreements totaling $240,818 with the Company's other convertible note promissory holders, thus placing a large overhang of potential converting notes into friendlier hands.
This is a major development as this now gives HKUP room to run without fear of constant selling of new shares from note conversions from group of toxic funders.
$1.5 Million in Funding
In addition to this note roll-up, HKUP also announce it has secured $1.5 million in financing from Alpha Capital, through way of introduction from Coventry Enterprises, providing the Company with necessary funds to execute its 12 month growth plan of its mobile GPS social networking platform.
About iHookup Social:
iHookup Social is a mobile-social app positioned at the intersection of location based connections, love and adventure, stimulating hyper-local opportunities for our user community as well as the venues and merchants competing for their business.
The company seeks to redefine the way people connect, find love or embark on an adventure. iHookup Social is where real people make real connections and businesses pay to be their host. The by-product of our business model inherently produces "hyper-local" advertising opportunities for the company, driving customers to local venues and / or businesses. The laws of attraction or making a new connection have shifted, with the traditional meaning of "being social" or "meeting up," now taking a backseat to meeting online or through a mobile device and apps.
Making connections through online or mobile devices has become a dominant part of today's mobile-social lifestyle, across various social circles, age groups, race, gender and demographics. iHookup Social takes the virtual connection and moves it toward a real-life interaction, facilitating connections and offering-up locally relevant hot spots and locations to meet up with these new connections, allowing iHookup Social to become both matchmaker and concierge. This combination provides a unique opportunity for consumer brands to offer incentives to a growing network of socially active mobile users on a hyper-local basis.
About Wall Street Newscast
Located in New York City, Wall Street Newscast (WSNC) has been providing Wall Street investor presentations for both public and private companies since 1998. WSNC offers a wide-range of services to companies and investor relation professionals to discuss their recent news announcements, earnings reports, and corporate events to a diverse network of individual and institutional investors on Wall Street. www.wallstreetnewscast.com
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