Friendable Inc (FDBL)

[rut2k9]

It was never, ever, their business model to produce a business, or even an app.

Their only business model was to earn ...

- salaries, funded with toxic debt
- vendor fees to friends, families, and related parties, funded with toxic debt

They have sucked out millions. Do the math. How much in "salaries" (to do what, exactly?) How much in "fees" to entities owned by insiders, of the family of insiders, or related parties? Were those "fees" even close to market value? How much in "rent" for a post office box that costs a fraction of what they list on their financial statements? Where did the rest of that "rent" go? Do you even need to guess?

Sadly, it's legal, so long as it is all disclosed.

If they had any intentions of building a business, they would take $1 salaries until they create one. But they don't. And they wont.

And remind me, who owns iHookup Social now? That was an asset that belonged to shareholders. Did shareholder receive anything for the sale of this entity?