Friendable Pursues U.S. Federal Technology Grant as Combination Funding Strategy for Less Dilutive Funding Options to Extend Technologies, add TikTok Design & Features and White Label Offerings for New Markets
Subsidized Funding, Combined With Traditional Capital Raising can Reduce Dilutive Stock Offerings, While Positioning the Company to Compliment U.S. Efforts to ban or Replace the TikTok App
CAMPBELL, CA, April 05, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Friendable Inc. (OTC: FDBL) (the “Company”), a mobile technology, marketing, and software services provider, is pleased to announce its plans to submit federal and state level grant applications in the areas of technology, business, and commerce.
These efforts are focused on reducing the Company’s cost of acquiring capital, by combining grant submissions with traditional fund-raising efforts the Company can position itself to achieve development and growth capital on a less dilutive basis overall, when combined with a successful grant or award.
Friendable’s management is preparing to advance its initiatives and is preparing for a grant filing in the near term. The Company will continue utilizing internal resources to aid in the extension of the various technologies developed and owned by the Company, while its traditional fund-raising efforts are put in place for this combination approach to a capital raise.
“Our efforts remain focused as we set our sites on combining grant funding with traditional capital raising efforts. It seemed only logical to explore federal and state level technology grants as the U.S. House of Representatives Foreign Committee voted on a bill that would, on the surface, give the U.S. government the ability to impose a full ban on TikTok, under the Emergency Economic Powers Act. Seeing this unfold has led us to believe there is tremendous power in partnering with the U.S. Government in any way shape or form, which I believe can start with technology grants that may assist and align with the goals set out by the U.S. Foreign affairs committee. I see opportunity on many fronts as we compartmentalize our technology and platforms for the opportunities that are right in our path. Stay tuned for additional white label market opportunities we’ve identified for our technology as well,” said Robert A. Rositano Jr., Friendable, Inc. CEO.
About Friendable Inc.
Friendable Inc. is a mobile technology, marketing, and software services provider. The Company has developed a base of technologies that have been productized beginning in 2013 and is now leveraging these various technologies to power certain Friendable owned brands, as well as white-label offerings to companies or entreprenuers seeking to enter an existing market quickly and cost effectively, leveraging the many years of technology developed and owned by the Company. The Company is also involved in the marketing, development and identification of products, services or brand opportunities the Company feels have mass market potential and scalability.
Friendable published its first mobile application in the Apple App Store and Google Play Store in 2014 in the social networking and dating category. The Friendable app achieved over 1.5 million downloads, top 10 worldwide rankings, and has led to celebrity-related marketing opportunities and various relationships with well-known music artists as well as up-and-coming independent artists.
Friendable’s most recent technology deployment aimed to service Indie Music Artists; including a one of a kind 360 artist platform. The offering previously included music production/collaboration, music distribution (Spotify, SoundCloud, Play Listing, Livestream/live events, promotions, ticket sales, behind the scenes, Merch designs/store/ship, tips, fan interaction, subscription offerings and more, which all equal revenue sharing and earning for all music artists. It has been the Company’s goal to become the new launch point for Indie Artists, as well as Artists at all levels, as they build engagement, revenue, and fans/followers. For 2023 the company has focused on providing these technologies to others seeking similar or the same functionality, with new skins, features or UI/UX that targets a new or existing market.
Fan Pass, Fan Pass Live and its livestream artist platform, launched July 24, 2020, has proven invaluable for artists and fans alike as performances shifted from the stage to the screen. The Company acquired Artist Republik and FeaturedX in January 2022, and was unable to proceed with the technology assets acquired from Artist Republik, but continues to proceed with new versions of FeaturedX.com the Company expects to be released in 2023.
Friendable was founded by brothers Robert A. Rositano Jr. and Dean Rositano, who have more than 27 years of experience working together on technology-related ventures.
This press release contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project" or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected by Friendable, Inc. The Company’s iTunes rankings should not be construed as an indication in any way whatsoever of the future value of Friendable's common stock or its present or future financial condition. The public filings of Friendable, Inc. made with the Securities and Exchange Commission may be accessed at the SEC's Edgar system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. Friendable, Inc. cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, Friendable, Inc. does not undertake, and Friendable, Inc. specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
