Friendable Inc (FDBL)

[BeachBum]

After seeing the terms on the Artist Republik acquisition, I knew this was cooked. The company makes little money and the insiders are still getting paid well including the developers. The Artist Republik Ex CEO got a sweetheart deal and he’s still an advisor for FDBL. AR failed under his control but he sold it for seemingly unlimited amount of shares in a pubco? He maintains a certain % of the OS regardless of pps and gets to convert at will to recoup his take. I think there are some AR investors that get the same deal. This will go on for another year or so. The AS will soon be maxed and the debtors will demand a reverse split so they can dump. The company must maintain a bid for conversion. If the debt holders don’t have a market to recoup, FDBL must create one through a reverse split. They can’t get paid without. Neither can the CEO and his staff of the company doesn’t bring in enough revenue to cover burn. It’s just numbers.