Friendable Inc (OTCMKTS:FDBL) shares were flat at $0.00060 and were unchanged in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.01. The company has a market cap of $1.01 million at 1.68 billion shares outstanding.
In a press release, Friendable Inc announced its most recent developments following the initial beta testing of its Fan Pass mobile app. Fan Pass was developed to provide live streaming video so that fans can watch exclusive back-stage and uncensored video content of their favorite celebrity or performing artist.
“After several months of corporate development and investment negotiations, we are pleased to announce that the Company has created a dynamic path forward for both the Friendable and the new Fan Pass application, with a recently negotiated funding for working capital,” stated Friendable CEO, Robert A. Rositano Jr.
“Fan Pass was originally slated and on target for a February 2017 release. However, continued development delays from the Company’s partner Hang W/, along with other factors disclosed in the Friendable’s 10k filing earlier this year, pushed back the release, and management determined that Friendable’s strategic marketing and development relationship with our partner had fallen significantly short of the Company’s expectations. As a result, Friendable has moved forward with what management believes to be the right path for the Company and its two apps. which includes the recent formation of Fan Pass, Inc,” he continued.
Friendable Inc is a company that is engaged in the development and dissemination of a proximity-based mobile social media application that facilitates connections between people, utilizing global positioning system and localized recommendations.
It offers Friendable, which is a location specific social platform, as well as a discovery application that facilitates communication between two or more users on a one to one meeting or group style event-based meet ups for concerts, sporting events, coffee, movies and night out, among others.
Friendable bridges its mobile community of users with the meeting of new friends, building relationships and connecting them with local venues or events tied to their interests. Its application is available on the Apple iOS platform and in iTunes stores, where Friendable offers a free version and a paid version of the application. Its application is also available on the Android platform and in the Google Play Store.