Friendable Inc (FDBL)

[rut2k9]

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.