{"id":8020,"date":"2016-06-07T12:02:05","date_gmt":"2016-06-07T12:02:05","guid":{"rendered":"\/?p=8020"},"modified":"2016-06-07T12:14:46","modified_gmt":"2016-06-07T12:14:46","slug":"friendable-inc-otcmktsfdbl-drops-below-a-penny","status":"publish","type":"post","link":"\/articles\/friendable-inc-otcmktsfdbl-drops-below-a-penny\/","title":{"rendered":"Friendable Inc. (OTCMKTS:FDBL) Drops Below A Penny"},"content":{"rendered":"\n

Friendable Inc. (OTCMKTS:FDBL<\/a>) dropped another 16.95% in Friday’s trading session – and is it really any wonder that it did just that? <\/p>\n

After all, Friday was the day in which FDBL<\/a>‘s <\/strong>latest 8-K hit the web, all but announcing that the company is still up to its old tricks. Apparently FDBL<\/a> <\/strong>has issued a convertible note that had a provision, allowing its holders to transform the debt into common stock at a rate of “50% of the lowest closing bid price (subject to a $0.004 ceiling price) for the common stock during the twenty (20) consecutive trading days immediately preceding the conversion date<\/em>”.<\/p>\n

Perceptive investors would have already noticed that this provision is quite similar to the conditions of the company’s other notes outstanding – except it is even more toxic, due to the “ceiling price”.<\/p>\n

All in all, it’s not difficult to see why investors were not thrilled about this state of developments. Not only is FDBL<\/a> <\/strong>not doing anything to fix all the stock-related problems that are currently choking the life out of investor value, but it is adding even more to the mix.<\/p>\n

Meanwhile, we’re still talking about a company whose latest financial report looks like this:<\/p>\n