Friendable Inc (FDBL)

[Tadaaa]

Good, Bad and the Ugly:

GOOD:

First of all, congrats for the 10K. Upon reading the 10K, I can see the good in the idea of Fan Pass, as well as the recent surge in SP......out of ALL the bros ideas these past 10-12 years since the Zippi Shell days, Fan Pass is a Good idea JMHO, can it be great ??...time will tell......On the outstanding, one of the other posters nailed it, good job !!

The Bad:

-81% drop in Revenue to 28k for fiscal 2016
-Friendable numbers growth, missed the target multiple years
-Payroll for 3 employees and "partners",

During the year ended December 31, 2016, the Company incurred $419,183 (2015: $443,187) in salaries to officers and directors with such costs being recorded as general and administrative expenses.

During the year ended December 31, 2016, the Company incurred $1,027,487 (2015: $627,920) in app hosting, app development, and rent to a company with two officers and directors in common with such costs being recorded as general and administrative and product development expenses.

PAGES 42 and 45 are worth a READ.....

-Convertible debt

and the Ugly:

-More toxic convertible debt
-Only 47 Shareholders of record.....
-Results of Operations:

Years Ended December 31, 2016 and 2015

Our cash as of December 31, 2016 was $119,804. As a result of our minimal amount of revenues and ongoing expenditures in pursuit of our business, we have incurred net losses since our inception. For the period from inception (December 4, 2013) to December 31, 2016 we incurred a net loss of $ 13,500,287 . For the year ended December 31, 2016, our net loss was $6,113,239.

...and lastly

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As of December 31, 2016, there were approximately 15,061,691,083 potentially dilutive shares outstanding.

...Up a few more Billion.....

...ALL In My Own Opinion, GLTA !!!!

Go FanPass !!

http://ih.advfn.com/p.php?pid=nmona&article=74352352&symbol=FDBL
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