Friendable Inc. (OTCMKTS:FDBL) Is Already Stumbling
It seems that, in spite of being an impressive piece of work, Jennifer Lopez’s music video that afforded Friendable Inc. (OTCMKTS:FDBL) some much needed exposure did not manage to push the ticker up for very long.
FDBL‘s green opening looked pretty promising in yesterday’s session, but that was not to last. Just minutes after trading began, the ticker was plummeting, and no amount of struggling could help it regain its elevated chart position – and that was to be expected. Why?
Well, the exposure afforded by them more than 15 million views on the above mentioned music video is all well and good, but it’s not like it magically made all of the pitfalls threatening FDBL investor value disappear overnight.
No, FDBL still has very real shortcomings that pose a very real threat to any investment in its stock.
One look at the numbers in the company’s latest financial report should be sufficient for investors to get at least some idea about FDBL‘s financial situation and actual achievements to date:
- Cash – $15 thousand
- Total current assets – $222 thousand
- Total current liabilities – $1.7 MILLION
- Annual revenues – $151 thousand
- Annual net loss – $3.2 MILLION
Saying that those numbers are underwhelming is, in and of itself, something of an understatement. Investors really need to take that into account.
And while thinking on that fact, they should probably also take note of the company’s tendency towards toxic dilution. Because last time we checked, there was still $500 thousand worth of debt that could be converted into shares of FDBL common stock at discounts of 50% of the lowest sale price 15 to 25 days before conversion.
So in the end, what information do we have on FDBL? Its achievements to date are unimpressive. It is burdened with toxic debt. It only manages to rise on surges of hype – and as we know, those tend not to last.
So far, we have three separate possible reasons for the ticker’s crash, and there are plenty more where those came from. We wholeheartedly encourage to check them all out for themselves and then keep them in mind when dealing with FDBL stock.
