RAADR Inc Approves Lynn Cole Capital Debt Sale To Tri-Bridge Ventures, LLC

Rhea-AI Summary

RAADR, Inc. (OTC PINK: RDAR) announced the approval of the sale of a debt of $771,887.29 to Tri-Bridge Ventures, LLC, finalized on March 30, 2021. This debt originated from a Debenture loan dated April 29, 2013 and includes accrued interest. The sale was executed by Lynn Cole Capital and is convertible, contributing to RAADR's strategy to reduce old debt. CEO Jacob DiMartino emphasized efforts to clear past debts in 2021, indicating a proactive approach to improve financial health.

Positive

• Approval of debt sale to Tri-Bridge Ventures LLC enhances financial restructuring.
• Efforts to clear old debt may improve creditworthiness and investor confidence.

Negative

• Outstanding debt of $771,887.29 reflects past financial challenges.
• Dependence on debt conversion could indicate limited cash flow.

PHOENIX, April 15, 2021 /PRNewswire/ -- RAADR, Inc. (OTC PINK: RDAR), a technology and software development company that monitors cyber-bullying and social media platforms with artificial intelligence is pleased to announce that RAADR has approved the Lynn Cole Capital sale of debt to Tri-Bridge Ventures, LLC.

On March 30th 2021 Lynn Cole Capital sold Tri- Bridge Ventures LLC, the principal amount of $771,887.29 from a Debenture loan dated April 29th, 2013. The sale to Tri-Bridge Ventures LLC also included the interest from the original note. RAADR approved the debt being purchased by Tri-Bridge ventures LLC, to be convertible.

"Like I have stated before we are making a huge effort this year to clear out old debt. We are hard at work on other old loans that we plan to do the same with very soon," says CEO JACOB DiMARTINO.

 

View original content:http://www.prnewswire.com/news-releases/raadr-inc-approves-lynn-cole-capital-debt-sale-to-tri-bridge-ventures-llc-301270193.html

SOURCE RAADR, Inc.

FAQ

What is the significance of the debt sale by RAADR, Inc. on March 30, 2021?

The debt sale of $771,887.29 to Tri-Bridge Ventures LLC is part of RAADR's strategy to reduce old debts and improve financial standing.

How much debt did RAADR, Inc. sell to Tri-Bridge Ventures LLC?

RAADR, Inc. sold $771,887.29 in debt to Tri-Bridge Ventures LLC.

What was the date of the original Debenture loan related to the debt sale?

The original Debenture loan was dated April 29, 2013.

What is RAADR, Inc.'s plan regarding old debt?

RAADR, Inc. plans to clear out old debts as part of their financial strategy in 2021.

Who is the CEO of RAADR, Inc. and what did he say about the debt sale?

CEO Jacob DiMartino highlighted ongoing efforts to clear old debts in 2021.