Siting Complexity as One Factor in Making Their Decision
CAMPBELL, CA, Sept. 28, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE - Friendable, Inc. (the “Company”) (OTC PINK: FDBL), a mobile and social focused technology company connecting users with location specific, interactive and live content, today announced that the Company has received a letter of termination from Sharps Technology, Inc.
The “Notice of Termination” was received on September 10, 2018 and references the agreement entered into by both parties on June 27, 2018.
Sharps has sited “the complexity, spin off of Fan Pass assets, recent events and other requirements” as the reasons for termination.
Robert A. Rositano Jr., Friendable, Inc. CEO, stated: “The termination came as a complete surprise to our entire team, especially after making tremendous progress and working toward a closing. Unfortunately, there have been complex issues to sort through on both sides, which have taken much more time than either side anticipated. We wish the Sharps team well as they continue on with their business and turn our focus to the future of Friendable. The Company’s management team has already identified go forward opportunities and is working diligently to report back to our shareholders with additional details. We believe these opportunities will bring value and set the stage for a new beginning for our Friendable shareholders and all of us.”
About Friendable, Inc.
Friendable, Inc. is a mobile technology company that develops, acquires, and invests in mobile applications with a social focus. In 2013, the Company released its flagship product Friendable, a mobile social application where users can create one-on-one or group-style meetups for food, drinks, live music, or any occasion. Friendable, Inc. has been developing and plans to release its brand new mobile app platform “Fan Pass Live", a live streaming video application for both iPhone and Android designed to allow music artists, athletes and celebrities to offer their fans and social followers a backstage or VIP experience right from their smart phone. Through the Friendable and Fan Pass applications, Friendable, Inc. aims to become the premier brand for mobile platforms that is dedicated to connecting and engaging users beyond today’s limitations.
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Twitter: https://twitter.com/friendableapp
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Cautionary Language Concerning Forward-Looking Statements
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 iTunes rankings should not be construed as an indication in any way whatsoever of the future value of the 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.