iHookup Social Inc (OTCMKTS:HKUP) reported that it has successfully bought all intellectual property assets of ‘friendable.’ The list of intellectual property assets covers the entire set of related domains, registration of them and trademarks including the social presence on leading platforms.

The CEO Robert Rositano Jr. said that the news validates company’s presence at the central of things social. It highlights a platform where people can connect with others that have same interest or form a interest or friendship group. “Friendable” can be termed as a means for local, social connections.

The management view

The CEO added that the excitement being noticed on a very local and viral level with the Friendable brand has surprised him, to speak the least. The brand understands the needs of existing users and helps them to be very particular in terms of what they plan to be ‘friendable’ for in a local manner.

The users will not be disturbed by unwarranted requests to connect them unless they specify they are friendable in the settings. Mr. Rositano called friendable as the beginning.

Update on debt consolidation

iHookup Social also revealed earlier in the month that they have completed debt consolidation transactions. They ended an eight week plan to consolidate various notes held by third party. It indicates that the company is getting prepared to enter the next growth stage. The CEO said that they thank funding associates to help in debt reduction process.

The company’s offerings continue to attain strong results in global app segment. Along with focus on debt reducing measures, the company is focusing on all aspects of its app so as to enhance value for shareholders. The focus will remain on the launch of “friendable” to the Apple Inc. (NASDAQ:AAPL )’s App Store next month.

On the back of acquisition completion news, the stock price of IHookup jumped over 36% in early morning session on Monday. The stock has lost 6.57% in current trading session and is now trading at $0.0128.