NetworkNewsBreaks – Friendable Inc. (FDBL) Releases Revenue Clarification, Notes FeaturedX Enhancements
Friendable (OTC: FDBL), a mobile technology and marketing company, has clarified that an earlier revenue report represents the value of total orders rather than the total collected amount. The company reported that, following its January acquisition of Artist Republik and FeaturedX brands and offerings, the company released a phase II upgrade of the FeaturedX brand. Consequently, the company reported receiving 270 total gross orders, with a value of $169,865; FeaturedX was the main factor in reaching those numbers. FDBL noted that an estimated 17% of the total has been collected to date. According to the announcement, the FeaturedX platform has exhibited helped build a “revenue ramp” for the company that adds to the existing base and that will now be met with additional technology upgrades and features, including improving the communication tools between artists and the company, as well as between the “featuring artist” and the artist interested in purchasing their services. “It’s all about finding the right offering that leads each artist through the door, which is happening with Artist Republik and FeaturedX, providing the company with a roadmap of services that connect with each artist at a specific point in their journey with us,” said Friendable CEO Robert A. Rositano Jr. in the press release. “FeaturedX has become a lead generation tool allowing additional services to be promoted and offered, as well as building a revenue ramp that adds to the existing base. We have seen the formula, and it’s all about timing of these additional services being offered, and it’s typically based on the previous product/service purchased and needs of each individual artist at that time. I couldn’t be more proud and grateful to have such a dedicated and caring team. I believe we are on the correct path, and it’s all about staying the course, building revenue, keeping the debt capital out or to a minimum and moving our valuation up now that our past restructure debt is behind us. We will be continuing to raise capital under the terms of our qualified Regulation A stock offering, as well as operationally continuing to test, reorganize offers and adapt the tech to allow for our scale.”
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Friendable (OTC: FDBL), a mobile technology and marketing company, has clarified that an earlier revenue report represents the value of total orders rather than the total collected amount. The company reported that, following its January acquisition of Artist Republik and FeaturedX brands and offerings, the company released a phase II upgrade of the FeaturedX brand. Consequently, the company reported receiving 270 total gross orders, with a value of $169,865; FeaturedX was the main factor in reaching those numbers. FDBL noted that an estimated 17% of the total has been collected to date. According to the announcement, the FeaturedX platform has exhibited helped build a “revenue ramp” for the company that adds to the existing base and that will now be met with additional technology upgrades and features, including improving the communication tools between artists and the company, as well as between the “featuring artist” and the artist interested in purchasing their services. “It’s all about finding the right offering that leads each artist through the door, which is happening with Artist Republik and FeaturedX, providing the company with a roadmap of services that connect with each artist at a specific point in their journey with us,” said Friendable CEO Robert A. Rositano Jr. in the press release. “FeaturedX has become a lead generation tool allowing additional services to be promoted and offered, as well as building a revenue ramp that adds to the existing base. We have seen the formula, and it’s all about timing of these additional services being offered, and it’s typically based on the previous product/service purchased and needs of each individual artist at that time. I couldn’t be more proud and grateful to have such a dedicated and caring team. I believe we are on the correct path, and it’s all about staying the course, building revenue, keeping the debt capital out or to a minimum and moving our valuation up now that our past restructure debt is behind us. We will be continuing to raise capital under the terms of our qualified Regulation A stock offering, as well as operationally continuing to test, reorganize offers and adapt the tech to allow for our scale.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
