Un-Friendable: FDBL Makes Plenty of Enemieson the Strength of Two Reverse Splits

Yet Another Promotion On Friendable, Inc. Is Underway After Yet Another Name and Ticker Change

November 4, 2015: In just another example of FINRA's lax oversight of companies that exemplify quick change artistry, Friendable, Inc. (FDBL) today launched its 8th Pump & Dump campaign in 4 years. Not coincidentally, 4 is also the number of names and tickers this company has had over that period of time.

FDBL is a share selling scheme we profiled in a report last year At that time, the company had been freshly rebranded as iHookup Social, Inc. (HKUP), having spent its ability to sell shares as phony iron ore exploration entity, Titan Iron Ore Corp. (TFER). Those sucked into the TFER scheme were treated to a one for 20 reverse split.  Dupes who were then dragooned into buying worthless shares of HKUP, experienced their own wiping out courtesy of a one for 100 reverse split just this past March. We all but predicted this second rollback as we showed in our previous report that there were many shares yet to be created by future debt conversion.

   » Related: HKUP Investors Ignore the Light of Day

As HKUP, the company pretended to be involved in the online dating industry. That farce didn't last long as serious investors weren't going to be convinced that it could compete with the likes of Match and Tinder. The company soon after announced that it had acquired the "Friendable" app and with it a move into a broader friend finding product. Doesn't exactly sound like this app is going to give "Meetup" a run for its money, does it?

FDBL continues to have no tangible assets, save for two grand in cash at last report, and a growing mountain of debt. Much of that debt continues to be held by Beaufort Capital Partners, LLC, a well known toxic financier quite adept at dumping cheap shares through promotions such as the one commenced today. Coincidental with the acquisition of Friendable, the company issued new convertible notes to Coventry Enterprises, LLC, another toxic financier. Coventry has provided funding to past Pump & Dump subjects SIMH and SENY, as well as now defunct or dormant issuers DGRI, DIDG, SLGLF and SHMX. Several of Convernty's debtors have found themselves sued for more paper including SIMH, SLGLF, MLHC, SHMX and others.  Considering FDBL's long term inability to focus on an industry or generate any income, it seems very possible that the company will eventually join that scrap heap.