Friendable Inc (FDBL)

[rut2k9]

Some 10-K lowlights:

They issued 1.6 billion new shares during Q4.

Cash at year-end was $0.

Revenues for the year decreased 70% to just $8,694. Less than $9k for the entire year.

During the year ended December 31, 2017, $762,952 (2016: $376,455) of convertible debentures were settled by issuing 3,521,332,373 (2016: 652,069,721) shares of common stock of the Company.

During the year ended December 31, 2017, the Company incurred $90,250 (2016: $175,894) in transaction costs in connection with the issuance of the convertible debentures that have been offset against the carrying values of the related debentures on the issuance date.

During the year ended December 31, 2017, the Company incurred $3,507,102 (2016: $2,073,893) in accretion and interest expense in connection with the convertible debentures.

At December 31, 2017, convertible debentures with the principal amount of $5,951,740 are subject to a General Security Agreement covering substantially all of the Company’s assets.