Friendable Inc (FDBL)

[crazyjogger925]

everything takes money but its a shame so much money has been squandered by the bros.2016 was a good year for the bros in the sense
that lenders like alpha and coventry entrusted a total of $3.4 million to the bros to develop the fdbl biz.however the bros in 2016 only produced for fdbl about 28k and showed a loss of 5-6 million bucks yet had little concern for their shareholders with their loan forgiveness program below.add to that the stupid HANG WITH story of 2016 where in 4 closings fdbl gave hang with maybe $750,000 and received absolutely nothing in return with no involvement of the DA.its no wonder we sit at .0001.imo


from fdbl 2016 10k

"As of December 31, 2016, accounts payable includes $234,058 (December 31, 2015: $236,571) payable to a company with two officers and directors in common, and $215,000 (December 31, 2015: $175,000) payable in salaries to directors and officers of the Company. The amounts are unsecured, non-interest bearing and are due on demand.

During the year ended December 31, 2016, two officers forgave debt totaling $200,000 and a company controlled by two officers of the Company forgave debt totaling $300,000. The debt forgiveness was considered a capital transaction and therefore $500,000 was recorded as an increase in additional paid-in capital as of December 31, 2016 .

The above transactions were recorded at their exchange amounts, being the amounts agreed by the related parties. "