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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Friendable Inc (CE) | USOTC:FDBL | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0001 | 0.00 | 01:00:00 |
Nevada
|
|
98-0546715
|
(State
or other jurisdiction of incorporation)
|
|
(I.R.S.
Employer Identification No.)
|
Indicate
by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such
shorter period that the registrant was required to file such
reports), and (2) has been subject to such filing requirements for
the past 90 days.
|
|
☒
Yes
☐
No
|
|
|
|
Indicate
by check mark whether the registrant has submitted electronically
and posted on its corporate Web site, if any, every Interactive
Data File required to be submitted and posted pursuant to Rule 405
of Regulation S-T (§232.405 of this chapter) during the
preceding 12 months (or for such shorter period that the
registrant was required to submit and post such
files).
|
|
☒
Yes
☐
No
|
Large
accelerated filer
|
☐
|
|
Accelerated
filer
|
☐
|
Non-accelerated
filer
|
☐
|
(Do not
check if a smaller reporting company)
|
Smaller
reporting company
|
☒
|
|
|
|
Emerging growth company |
☐
|
Indicate
by check mark whether the registrant is a shell company (as defined
in Rule 12b-2 of the Exchange Act).
|
|
☐
Yes
☒
No
|
PART I
- FINANCIAL INFORMATION
|
1
|
|
|
ITEM
1. FINANCIAL STATEMENTS
|
1
|
|
|
ITEM 2.
MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF
OPERATIONS
|
16
|
|
|
ITEM
3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
RISK
|
20
|
|
|
ITEM
4. CONTROLS AND PROCEDURES
|
20
|
|
|
PART II
- OTHER INFORMATION
|
21
|
|
|
ITEM
1. LEGAL PROCEEDINGS
|
21
|
|
|
ITEM
1A. RISK FACTORS
|
22
|
|
|
ITEM
2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF
PROCEEDS
|
22
|
|
|
ITEM
3. DEFAULTS UPON SENIOR SECURITIES
|
22
|
|
|
ITEM
4. MINE SAFETY DISCLOSURES
|
22
|
|
|
ITEM
5. OTHER INFORMATION
|
22
|
|
|
ITEM
6. EXHIBITS
|
23
|
|
|
SIGNATURES
|
24
|
|
|
|
|
|
Consolidated Balance Sheets as of June 30, 2017 and December 31,
2016
|
|
2
|
|
|
|
Consolidated Statements of Comprehensive Loss for the three and six
months ended June 30, 2017 and 2016
|
|
3
|
|
|
|
Consolidated Statements of Stockholders’ Deficiency for the
period from December 31, 2015 to June 30, 2017
|
|
4
|
|
|
|
Consolidated Statements of Cash Flows for the six months ended June
30, 2017 and June 30, 2016
|
|
5
|
|
|
|
Notes to the Consolidated Financial Statements
|
|
6-15
|
|
Three Months Ended June 30, 2017
$
|
Three Months Ended June 30, 2016
$
|
Six Months
Ended June 30, 2017
$
|
Six Months
Ended June 30, 2016
$
|
REVENUES
|
2,535
|
7,189
|
5,578
|
18,580
|
|
|
|
|
|
OPERATING EXPENSES
|
|
|
|
|
Accretion
and interest expense (Note 10)
|
805,129
|
570,789
|
1,451,393
|
1,178,796
|
App
hosting (Note 8)
|
142,826
|
80,473
|
277,826
|
228,552
|
Commissions
|
760
|
2,157
|
1,673
|
5,544
|
Financing
costs
|
-
|
37,768
|
-
|
75,458
|
General
and administrative (Note 8)
|
227,578
|
270,391
|
459,379
|
460,723
|
Product
development (Note 8)
|
42,050
|
64,113
|
92,450
|
159,234
|
Sales
and marketing
|
63,809
|
557,098
|
163,303
|
772,601
|
|
|
|
|
|
|
|
|
|
|
TOTAL OPERATING
EXPENSES
|
1,282,152
|
1,582,789
|
2,446,024
|
2,880,908
|
|
|
|
|
|
LOSS FROM
OPERATIONS
|
(1,279,617
)
|
(1,575,600
)
|
(2,440,446
)
|
(2,862,328
)
|
|
|
|
|
|
OTHER EXPENSES
|
|
|
|
|
Loss
on investment (Note 11)
|
-
|
-
|
(175,000
)
|
-
|
|
|
|
|
|
NET LOSS AND COMPREHENSIVE LOSS
|
(1,279,617
)
|
(1,575,600
)
|
(2,615,446
)
|
(2,862,328
)
|
|
|
|
|
|
BASIC LOSS PER SHARE
|
(0.00
)
|
(0.00
)
|
(0.00
)
|
(0.01
)
|
|
|
|
|
|
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING
|
1,682,777,754
|
425,129,047
|
1,491,502,113
|
340,742,364
|
|
Common Stock
#
|
Common Stock Amount
|
Preferred
#
|
Preferred Stock Amount
|
Additional Paid-in Capital
|
Common Stock Subscriptions
|
Deficit
|
Total
|
|
|
|
|
|
|
|
|
|
Balance
December 31, 2015
|
218,977,542
|
$
21,898
|
22,165
|
$
2
|
$
5,697,308
|
$
(4,500
)
|
$
(7,387,048
)
|
$
(1,672,340
)
|
|
|
|
|
|
|
|
|
|
Shares
issued for services
|
65,465,714
|
6,547
|
—
|
—
|
231,545
|
—
|
—
|
238,092
|
|
|
|
|
|
|
|
|
|
Conversion
of convertible notes (Note 10)
|
652,069,721
|
65,207
|
—
|
—
|
311,248
|
—
|
—
|
376,455
|
|
|
|
|
|
|
|
|
|
Conversion
of preferred shares (Note 4)
|
104,524,944
|
10,452
|
(510
)
|
—
|
(10,452
)
|
—
|
—
|
—
|
|
|
|
|
|
|
|
|
|
Issuance
of convertible notes (net) (Note 10)
|
—
|
—
|
—
|
—
|
2,882,248
|
—
|
—
|
2,882,248
|
|
|
|
|
|
|
|
|
|
Exercise
of warrants
|
26,993,902
|
2,699
|
—
|
—
|
(2,699
)
|
—
|
—
|
—
|
|
|
|
|
|
|
|
|
|
Debt
forgiveness (Note 8)
|
—
|
—
|
—
|
—
|
500,000
|
—
|
—
|
500,000
|
|
|
|
|
|
|
|
|
|
Net
loss for the year
|
—
|
—
|
—
|
—
|
—
|
—
|
(6,113,239
)
|
(6,113,239
)
|
|
|
|
|
|
|
|
|
|
Balance
December 31, 2016
|
1,068,031,823
|
$
106,803
|
21,655
|
$
2
|
$
9,609,198
|
$
(4,500
)
|
$
(13,500,287
)
|
$
(3,788,784
)
|
Shares
issued for services
|
4,720,000
|
472
|
—
|
—
|
8,968
|
—
|
—
|
9,440
|
|
|
|
|
|
|
|
|
|
Conversion
of convertible notes (Note 10)
|
599,157,030
|
59,916
|
—
|
—
|
229,568
|
—
|
—
|
289,484
|
|
|
|
|
|
|
|
|
|
Conversion
of preferred shares (Note 4)
|
175,099,361
|
17,510
|
(293
)
|
—
|
(17,510
)
|
—
|
—
|
—
|
|
|
|
|
|
|
|
|
|
Issuance
of convertible notes (net) (Note 10)
|
—
|
—
|
—
|
—
|
594,491
|
—
|
—
|
594,491
|
|
|
|
|
|
|
|
|
|
Net
loss for the period
|
—
|
—
|
—
|
—
|
—
|
—
|
(2,615,446
)
|
(2,615,446
)
|
|
|
|
|
|
|
|
|
|
Balance
June 30, 2017
|
1,847,008,214
|
$
184,701
|
21,362
|
$
2
|
$
10,424,715
|
$
(4,500
)
|
$
(16,115,733
)
|
$
(5,510,815
)
|
|
Six months ended
June 30, 2017
|
Six months ended
June 30, 2016
|
Cash Flows from Operating Activities:
|
|
|
Net
loss
|
$
(2,615,446
)
|
$
(2,862,328
)
|
|
|
|
Adjustments to Reconcile Net Loss to Net Cash Used in Operating
Activities:
|
|
|
Interest
on convertible debentures
|
216,601
|
97,903
|
Accretion
expense
|
1,234,790
|
1,073,925
|
Shares
issued for services
|
9,440
|
77,034
|
Loss
on investment
|
175,000
|
-
|
Changes in Operating Assets and Liabilities
|
|
|
Decrease
(Increase) in accounts receivable
|
(63
)
|
2,430
|
Increase
in prepaid expenses
|
(3,900
)
|
-
|
Increase
(decrease) in accounts payable
|
312,714
|
251,481
|
Net Cash Used in Operating Activities
|
(670,864
)
|
(1,359,555
)
|
|
|
|
Cash Flows Used in Investing Activities:
|
|
|
Investment
in Hang With
|
(175,000
)
|
-
|
Net Cash Used in Investing Activities
|
(175,000
)
|
-
|
|
|
|
Cash Flows from Financing Activities:
|
|
|
Proceeds
from convertible debentures (net)
|
726,060
|
1,457,271
|
|
|
|
Net Cash Provided by Financing Activities
|
726,060
|
1,457,271
|
|
|
|
Net Increase(Decrease) in Cash
|
(119,804
)
|
97,716
|
|
|
|
Cash on Hand – Beginning
|
119,804
|
15,880
|
|
|
|
Cash on Hand – Ending
|
$
-
|
$
113,596
|
|
|
|
Supplemental Cash Flow Information:
|
|
|
Cash
paid for interest
|
$
—
|
$
—
|
Cash
paid for income taxes
|
$
—
|
$
—
|
|
|
|
Non-cash Investing and Financing Items:
|
|
|
Shares
issued for conversion of debt (net)
|
$
-
|
$
109,980
|
Convertible
debentures issued to extinguish promissory notes
|
$
-
|
$
-
|
|
|
|
|
|
Weighted
Average
|
|
Number
|
Exercise
|
|
of
Warrants
|
Price
$
|
Balance,
December 31, 2016
|
978,335,757
|
0.005
|
Warrants
issued
|
118,000,000
|
0.003
|
Balance,
June 30, 2017
|
1,096,335,757
|
0.004
|
|
Option
Price
|
|
Expiry
Date
|
Per
Share($)
|
Number
|
December
21, 2021
|
1,680
|
1,725
|
June
21, 2022
|
400
|
500
|
June
25, 2023
|
134
|
850
|
|
$
1,044
|
3,075
|
|
Number of Options
|
Weighted Average Exercise Price
|
Weighted- Average Remaining Contractual Term (years)
$
|
Aggregate Intrinsic Value
$
|
Outstanding
and exercisable, December 31, 2016
|
3,075
|
1,044
|
6.57
|
-
|
Outstanding
and exercisable, June 30, 2017
|
3,075
|
1,044
|
6.07
|
-
|
|
$
|
|
|
Employment Agreements (1)
|
150,000
|
Conversion Feature
|
Issuance
|
Net Principal ($)
|
Discount ($)
|
Carrying Value ($)
|
Interest Rate
|
Maturity Date
|
||
a
|
)
|
2-Apr-13
|
5,054
|
-
|
5,054
|
0
|
%
|
2-Jan-14
|
b
|
)
|
5-Aug-15
|
750,000
|
-
|
750,000
|
7
|
%
|
5-Feb-17
|
b
|
)
|
5-Aug-15
|
18,750
|
-
|
18,750
|
7
|
%
|
5-Feb-17
|
d
|
)
|
17-Feb-15
|
102,135
|
-
|
102,135
|
8
|
%
|
17-Feb-16
|
d
|
)
|
17-Feb-15
|
5,000
|
-
|
5,000
|
8
|
%
|
17-Feb-16
|
c
|
)
|
27-Feb-15
|
37,500
|
-
|
37,500
|
8
|
%
|
27-Feb-16
|
d
|
)
|
19-Mar-15
|
53,551
|
-
|
53,551
|
8
|
%
|
19-Mar-16
|
d
|
)
|
19-Mar-15
|
8,000
|
-
|
8,000
|
8
|
%
|
19-Mar-16
|
c
|
)
|
11-May-15
|
50,000
|
-
|
50,000
|
8
|
%
|
10-May-16
|
d
|
)
|
2-Jun-15
|
29,500
|
-
|
29,500
|
8
|
%
|
1-Jun-16
|
d
|
)
|
2-Jun-15
|
45,966
|
-
|
45,966
|
8
|
%
|
1-Jun-16
|
d
|
)
|
2-Jun-15
|
10,000
|
-
|
10,000
|
8
|
%
|
1-Jun-16
|
d
|
)
|
2-Jun-15
|
58,540
|
-
|
58,540
|
8
|
%
|
1-Jun-16
|
d
|
)
|
2-Jun-15
|
35,408
|
-
|
35,408
|
8
|
%
|
1-Jun-16
|
d
|
)
|
2-Jun-15
|
20,758
|
-
|
20,758
|
8
|
%
|
1-Jun-16
|
c
|
)
|
11-Jun-15
|
50,000
|
-
|
50,000
|
8
|
%
|
10-Jun-16
|
d
|
)
|
16-Jun-15
|
30,464
|
-
|
30,464
|
8
|
%
|
15-Jun-16
|
d
|
)
|
19-Jun-15
|
30,000
|
-
|
30,000
|
8
|
%
|
18-Jun-16
|
d
|
)
|
19-Jun-15
|
35,408
|
-
|
35,408
|
8
|
%
|
18-Jun-16
|
c
|
)
|
24-Jun-15
|
37,500
|
-
|
37,500
|
8
|
%
|
23-Jun-16
|
d
|
)
|
24-Jun-15
|
35,000
|
-
|
35,000
|
8
|
%
|
23-Jun-16
|
c
|
)
|
24-Jun-15
|
37,500
|
-
|
37,500
|
8
|
%
|
23-Jun-16
|
d
|
)
|
7-Jul-15
|
75,000
|
-
|
75,000
|
8
|
%
|
7-Oct-15
|
d
|
)
|
1-Aug-15
|
17,408
|
-
|
17,408
|
8
|
%
|
4-Aug-16
|
d
|
)
|
1-Aug-15
|
30,000
|
-
|
30,000
|
8
|
%
|
1-Aug-16
|
d
|
)
|
1-Aug-15
|
35,408
|
-
|
35,408
|
8
|
%
|
1-Aug-16
|
d
|
)
|
21-Sep-15
|
64,744
|
-
|
64,744
|
8
|
%
|
21-Sep-16
|
b
|
)
|
3-May-16
|
50,000
|
-
|
50,000
|
8
|
%
|
3-May-17
|
c
|
)
|
3-May-16
|
50,000
|
-
|
50,000
|
8
|
%
|
3-May-17
|
d
|
)
|
3-May-16
|
29,500
|
-
|
29,500
|
8
|
%
|
3-May-17
|
d
|
)
|
3-May-15
|
45,965
|
-
|
45,965
|
8
|
%
|
3-May-17
|
b
|
)
|
24-May-16
|
61,571
|
-
|
61,571
|
8
|
%
|
24-May-17
|
d
|
)
|
24-May-16
|
30,464
|
-
|
30,464
|
8
|
%
|
24-May-17
|
b
|
)
|
26-May-16
|
157,500
|
-
|
157,500
|
8
|
%
|
26-May-17
|
d
|
)
|
15-Jun-16
|
5,000
|
-
|
5,000
|
8
|
%
|
15-Jun-17
|
b
|
)
|
2-Jun-16
|
160,000
|
96,646
|
63,354
|
7
|
%
|
2-Jun-17
|
b
|
)
|
2-Jun-16
|
4,000
|
2008
|
1,992
|
7
|
%
|
2-Jun-17
|
b
|
)
|
15-Jun-16
|
50,000
|
26,567
|
23,433
|
7
|
%
|
15-Jun-17
|
b
|
)
|
15-Jun-16
|
1,250
|
508
|
742
|
7
|
%
|
15-Jun-17
|
b
|
)
|
17-May-16
|
100,000
|
55,842
|
44,158
|
7
|
%
|
8-Sep-17
|
b
|
)
|
17-May-16
|
2,500
|
1,124
|
1,376
|
7
|
%
|
8-Sep-17
|
b
|
)
|
19-May-16
|
110,000
|
62,401
|
47,599
|
7
|
%
|
8-Sep-17
|
b
|
)
|
19-May-16
|
2,750
|
1,265
|
1,485
|
7
|
%
|
8-Sep-17
|
b
|
)
|
27-Jan-16
|
249,480
|
5,149
|
244,331
|
7
|
%
|
27-Jul-17
|
b
|
)
|
8-Mar-16
|
110,000
|
56,860
|
53,140
|
7
|
%
|
8-Sep-17
|
b
|
)
|
27-Jan-16
|
16,143
|
-
|
16,143
|
7
|
%
|
27-Jul-17
|
b
|
)
|
8-Mar-16
|
5,000
|
1,304
|
3,696
|
7
|
%
|
8-Sep-17
|
b
|
)
|
8-Mar-16
|
90,000
|
45,284
|
44,716
|
7
|
%
|
8-Sep-17
|
b
|
)
|
7-Jul-16
|
50,000
|
27,707
|
22,293
|
7
|
%
|
8-Sep-17
|
b
|
)
|
4-Aug-16
|
110,000
|
69,515
|
40,485
|
7
|
%
|
8-Sep-17
|
b
|
)
|
15-Aug-16
|
157,000
|
104,347
|
52,653
|
7
|
%
|
8-Sep-17
|
b
|
)
|
12-Sep-16
|
83,000
|
53,876
|
29,124
|
7
|
%
|
8-Sep-17
|
b
|
)
|
7-Jul-16
|
1,250
|
533
|
717
|
7
|
%
|
8-Sep-17
|
b
|
)
|
4-Aug-16
|
2,750
|
1,431
|
1,319
|
7
|
%
|
8-Sep-17
|
b
|
)
|
15-Aug-16
|
3,925
|
2,200
|
1,725
|
7
|
%
|
8-Sep-17
|
b
|
)
|
12-Sep-16
|
2,075
|
1,100
|
975
|
7
|
%
|
8-Sep-17
|
b
|
)
|
4-Aug-16
|
110,000
|
54,085
|
55,915
|
7
|
%
|
4-Aug-17
|
b
|
)
|
15-Aug-16
|
157,500
|
92,111
|
65,389
|
7
|
%
|
15-Aug-17
|
b
|
)
|
8-Sep-16
|
80,000
|
51,306
|
28,694
|
7
|
%
|
8-Sep-17
|
b
|
)
|
11-Nov-16
|
80,000
|
68,117
|
11,883
|
7
|
%
|
11-Nov-17
|
b
|
)
|
6-Dec-16
|
88,000
|
78,504
|
9,496
|
7
|
%
|
6-Dec-17
|
b
|
)
|
9-Jan-17
|
84,000
|
78,209
|
5,791
|
7
|
%
|
9-Jan-18
|
b
|
)
|
3-Mar-17
|
32,000
|
30,182
|
1818
|
7
|
%
|
3-Mar-18
|
c
|
)
|
2-Feb-17
|
159,750
|
154,449
|
5,301
|
8
|
%
|
2-Feb-17
|
c
|
)
|
15-Mar-17
|
96,000
|
93,473
|
2,527
|
8
|
%
|
15-Mar-18
|
b
|
)
|
7-Oct-16
|
465,000
|
451,260
|
13,740
|
7
|
%
|
7-Apr-18
|
b
|
)
|
7-Nov-16
|
285,036
|
209,592
|
75,444
|
7
|
%
|
7-May-18
|
b
|
)
|
12-Dec-16
|
287,444
|
68,160
|
219,284
|
7
|
%
|
12-Jun-18
|
b
|
)
|
18-Jan-17
|
284,057
|
109,480
|
174,577
|
7
|
%
|
7-Apr-18
|
b
|
)
|
7-Apr-17
|
25,000
|
23,757
|
1,243
|
8
|
%
|
7-Apr-18
|
b
|
)
|
3-May-17
|
27,000
|
25,998
|
1,002
|
8
|
%
|
3-May-18
|
c
|
)
|
5-May-17
|
30,000
|
28,997
|
1,003
|
8
|
%
|
5-May-18
|
b
|
)
|
2-Jun-17
|
27,000
|
26,257
|
743
|
8
|
%
|
2-Jun-18
|
|
|
|
|
|
|
|
|
|
|
|
|
5,767,504
|
2,259,604
|
3,507,900
|
|
|
|
a)
|
Subsequent
to June 30, 2017, the Company issued 118,500,000 shares of common
stock in connection with service agreements.
|
b)
|
On July
21, 2017, the Company entered into a Securities Purchase Agreement
(the “Alpha SPA”) with Alpha Capital Anstalt
(“Alpha Capital”), to issue and sell up to, in
principal amount, $500,000 of convertible notes, payable in two
tranches (the “Alpha Notes”). The first tranche of
$300,000 was funded on July 21, 2017 (the “Initial Closing
Date”). The second tranche of $200,000 will be upon
effectiveness of the registration statement of Fan Pass Inc. and
trading of common stock which is not later than 9 months after
first closing. The Alpha Notes are senior to all current and future
indebtedness of the Company except as agreed to by the parties. The
conversion price of the notes will be the lowest conversion price
of any instrument issued by the Company. The Alpha Notes are
long-term debt obligations that are material to the Company. The
Alpha Notes also contain certain representations, warranties,
covenants and events of default. In the event of default, at the
option of Alpha Capital and in their sole discretion, Alpha Capital
may consider the Alpha Note’s immediately due and
payable.
In
connection with the Alpha Notes and Alpha SPA, the Company also
entered into a Pledge Agreement whereby as collateral security, the
Company pledged shares of common stock of its subsidiary, Fan Pass,
Inc. The number of shares pledged will be determined at a later
date. The Company also has pledged collateral to Alpha Capital in
the form of the Fan Pass Security Agreement which grants a security
interest in and to, a lien upon and a right of set-off against all
of their respective right, title and interest to the assets of Fan
Pass Inc, including all intellectual property. The Alpha Notes have
a beneficial ownership limitation such that Alpha Capital can never
own more than 4.99% of the number of shares of the Common Stock
outstanding immediately after giving effect to the issuance of
shares of Common Stock issuable upon conversion of the Alpha
Notes.
For its
services as a placement agent for this transaction, Palladium
Capital Advisors, LLC (“Palladium”) shall receive
compensation of 8% of the aggregate purchase price paid in each
Closing, the amount being $24,000 for the first closing. The
Company has agreed to pay legal costs of $50,000 payable upon the
First Closing, and an additional $50,000 upon the funding of the
second tranche of $200,000, and $40,000 within thirty (30) days
that Fan Pass, Inc. has a class of common stock registered pursuant
to Section 12(g) of the Exchange Act.
|
|
Three Months Ended June 30, 2017
$
|
Three Months Ended June 30, 2016
$
|
Six Months
Ended June 30, 2017
$
|
Six Months
Ended June 30, 2016
$
|
REVENUES
|
2,535
|
7,189
|
5,578
|
18,580
|
|
|
|
|
|
OPERATING EXPENSES
|
|
|
|
|
Accretion
and interest expense
|
805,129
|
570,789
|
1,451,393
|
1,178,796
|
App
hosting
|
142,826
|
80,473
|
277,826
|
228,552
|
Commissions
|
760
|
2,157
|
1,673
|
5,544
|
Financing
costs
|
-
|
37,768
|
-
|
75,458
|
General
and administrative
|
227,578
|
270,391
|
459,379
|
460,723
|
Product
development
|
42,050
|
64,113
|
92,450
|
159,234
|
Sales
and marketing
|
63,809
|
557,098
|
163,303
|
772,601
|
|
|
|
|
|
|
|
|
|
|
TOTAL OPERATING
EXPENSES
|
1,282,152
|
1,582,789
|
2,446,024
|
2,880,908
|
|
|
|
|
|
LOSS FROM
OPERATIONS
|
(1,279,617
)
|
(1,575,600
)
|
(2,440,446
)
|
(2,862,328
)
|
|
|
|
|
|
OTHER EXPENSES
|
|
|
|
|
Loss
on investment
|
-
|
-
|
(175,000
)
|
-
|
|
|
|
|
|
NET LOSS AND COMPREHENSIVE LOSS
|
(1,279,617
)
|
(1,575,600
)
|
(2,615,446
)
|
(2,862,328
)
|
|
June
30, 2017
|
December
31, 2016
|
|
(unaudited)
|
(audited)
|
Current
Assets
|
$
11,937
|
$
127,776
|
Current
Liabilities
|
5,557,752
|
3,732,596
|
Working Capital
(Deficiency)
|
$
(5,545,815
)
|
$
(3,604,820
)
|
|
Six
months
|
Six
months
|
|
Ended
|
Ended
|
|
June 30, 2017
|
June 30, 2016
|
Net Cash Used in
Operating Activities
|
$
(670,864
)
|
$
(1,359,555
)
|
Net Cash Used in
Investing Activities
|
(175,000
)
|
-
|
Net Cash Provided
by Financing Activities
|
726,060
|
1,457,271
|
Net Increase
(Decrease) in Cash
|
$
(119,804
)
|
$
97,716
|
Exhibit Number
|
Description
|
|
FRIENDABLE, INC.
|
|
|||
|
|
|
|
|
|
Date:
August 16, 2017
|
By:
|
/s/
Robert
Rositano, Jr.
|
|
|
|
|
|
Name:
Robert
Rositano, Jr.
|
|
|
|
|
|
Title:
CEO, Secretary, and Director (Principal Executive
Officer)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Date:
August 16, 2017
|
By:
|
/s/
Frank
Garcia
|
|
|
|
|
|
Name:
Frank Garcia
|
|
|
|
|
|
Title:
Chief Financial Officer
(Principal
Financial Officer and Principal Accounting Officer)
|
|
|
|
|
|
|
|
|
|
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