RAADR, Inc. Announces that its Audit Which Will Allow it to Become a Fully Reporting Company will be Completed During the Fourth Quarter of 2021
RAADR, Inc. (OTC PINK: RDAR) announced its audit for the years ending December 31, 2019, and December 31, 2020, is expected to be completed in Q4 2021. This will facilitate their designation as an OTCQB tier company, potentially reducing capital costs. The company has also received SEC qualification for its REG A filing, enabling the sale of shares to selected investors, moving away from variable-rate debt. Chairman Jacob DiMartino expressed confidence in the audit's completion and the long-term goal of reaching Nasdaq as their products gain traction.
- Completion of audit expected in Q4 2021, facilitating OTCQB designation.
- SEC qualification for REG A filing allows share sales to targeted investors, enhancing shareholder value.
- Shift from toxic debt financing to selective REG A stock sales.
- None.
PHOENIX, Sept. 17, 2021 /PRNewswire/ -- RAADR, Inc. (OTC PINK: RDAR), a technology and software development company that monitors cyber-bullying and social media platforms with artificial intelligence announced today that it fully expects to complete its audit during the fourth quarter of 2021. Known as "the anti-bullying company", RAADR Inc.'s audit for the company's calendar years ended December 31, 2019 and December 31, 2020 will be included in the company's anticipated Form 10 filing with the Securities and Exchange Commission. When these documents are filed with the United States Securities and Exchange Commission, RAADR will immediately engage with the staff at OTC Markets to pay any required fees to be designated as an OTCQB tier company at OTC Markets. As a fully reporting company with the SEC, RAADR, Inc. expects that business opportunities will flourish and its cost of capital will significantly decrease virtually immediately as the company completes the transmission from an alternative reporting company to a fully reporting company.
The company is also announcing that its REG A filing with the United Securities and Exchange Commission was qualified by the SEC and as a result, RAADR, Inc. will begin selling shares to highly qualified investors that the company believes have interests aligned with the company's goal of building shareholder value. As a result of the REG A qualification, this marks a pivotal point in the company's financing strategy to essentially move away from variable rate debt financing ("also known as toxic debt") to financing the company through selectively selling the REG A stock to a select group of qualified investors who the company believes has interests aligned with the company's goal of building the leading app developer in the world of "anti-bullying" software and apps for young people.
RAADR Inc. Chairman and Chief Jacob Dimartino commented, "For weeks, we have been working closely with our auditor to quickly respond to all their requests for information. An important part of the audit process is receivables and payables confirmation letters and since we have received confirmation from some of our vendors that they have received correspondence from our auditors seeking confirmation about invoices and other financial information, we are quite confident that the audit will be completed in Q4 2021."
Mr. DiMartino added, "Our long term goal is to get to Nasdaq and as our products roll out and become more popular with young people and their parents, the step of achieving fully reporting status will be a chapter in our story as we continue to build our company for our shareholders. We take this opportunity to thank our shareholders who believe in what we're doing to make the world a better place."
About RAADR, Inc.
RAADR, Inc., publishes software and apps that protect children who use social media and the internet. Known as the "internet anti-bullying company", RAADR produces products that allow children, parents, and school districts to monitor bullying and other threatening behavior on the Internet in real time. Armed with many features including keyword tracking, real time alerts, facial recognition and site filtering, RAADR's apps determine in real time whether children or young adults are the victim of stalkers, bullies and other threatening behavior. Parents love the facial recognition feature because in seconds, the app allows parents to upload the child's image and parents can be armed with one of the most powerful tools available to receive alerts each time their child's image appears on a social media site. RAADR Parental 2.0, which is the parenting app that helps parents and adults protect children by using real time monitoring on social media will be released in August 2021. Bully RAADR which arms the kids with RAADR's powerful suite of products allows children to protect themselves and other kids from threatening and dangerous behavior on the internet and social media will be released by the end of summer 2021. RAADR Inc. is committed to making our world and social media a safer and better place for kids and young adults.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report and for the most recent fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with OTCMarkets.com
Video:
Link: youtu.be/1juAWI14jgA
Media Contact:
Jacob Dimartino,
jacob.d@raadr.com
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SOURCE RAADR, Inc.
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