Friendable Inc (FDBL)

[rut2k9]

They could be sued. I posit that their statements were false and misleading. Proving that it was intentional will not be easy. But they made many promises and provided a lot of promotional statements which never came close to coming true. The promise last August of an "immediate" spinoff and dividend seems silly now, nearly nine months later.

Nobody will put them in jail. The SEC doesn't prosecute such things. They haven't for years. A great deal is protected by the safe harbor statements, and they disclosed most everything. If anyone bothered to read the Ks and Qs and the things filed with it you'd see they disclosed their inter-related family connections, the fact that the two brothers are the only two board members, so there is NO corporate governance of any sort, their salaries, and the toxic debt with all the ugly covenants. They told you what they were doing. If you bought anyway, that's on you.

But there's simply no path to bring this back now. I think that's why they've gone silent. The shareholder base won't support a straightforward reverse split, and that's the only way to clean up the structure. If they tried it, the stock would crater. They know this.