RDARS Inc. Announces Stock Option Cancellations
- Cancellation of options could improve company's financial position
- Cancellation of options may lead to decreased motivation for directors and officers
Toronto, Ontario--(Newsfile Corp. - October 27, 2023) - RDARS Inc. (CSE: RDRS) (OTCQB: RDRSF) (the "RDARS" or the "Company"), an autonomous robotics and drone technology company developing advanced systems and artificial intelligence AI for alarm system augmentation and surveillance, announces that, effective as of today, the Company has cancelled an aggregate 1,450,000 options ("Options") to purchase common shares of the Company ("Common Shares"), which were previously granted to directors and officers of the Company (each a "Participant"). Management reviewed the Company's outstanding Options and determined that the Options granted to such Participants under the Company's Option plan at an exercise price of
About RDARS
RDARS possesses a disruptive technology that is advancing the security industry's approach to protecting commercial, industrial, and residential properties, by introducing protection with autonomous artificial intelligence systems that allows for real time response, situation awareness, verification, intervention, evidence recording, data capture, analysis, and immediate downstream transmissions to public safety agencies. RDARS has the ability, upon a property security breach, in real time to receive, analyze, and downstream the data and inform public safety agencies who the perpetrators potentially are before they even arrive at the property.
Founded in 2019, RDARS is an originator in its innovative equipment manufacturer of its flagship product, the Eagle Watch Platform comprising of Eagle Eye, a drone, Eagle Nest, a drone station, Eagle Rover, an indoor robotic system, and Eagle Watch Command & Control Software. The Company's autonomous robotic systems provide situational awareness in a cost effective and reliable manner. The Company's mission is to improve alarm response and situational awareness by obtaining required approvals from federal regulatory agencies for BVLOS operations. RDARS is currently developing its technology for private and enterprise customers in the United States and Canada, where these customers require a more reliable and advanced understanding of their property security. For more information about RDARS, please visit its website at www.rdars.com and its profile page on SEDAR+ at www.sedarplus.ca.
For further information, please contact:
Charles Zwebner
Chief Executive Officer
Tel: 786-564-5602
Email: charles.zwebner@rdars.com
Cautionary Statement Regarding Forward-Looking Information
Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include statements relating to: the benefits, features, and applications of the Company's products and technologies; the Company's product offerings; the Company's target market for its products and technologies; the Company's mission as stated; and the Company's BVLOS waiver certificate.
Forward-looking information in this news release are based on certain assumptions and expected future events, namely: no adverse changes to the benefits, features, and applications of the Company's products and technologies; the Company's ability to continue providing its product offerings; the Company's ability to maintain its target market for its products and technologies; the Company's ability to continue and carry out its mission as stated; and the Company's ability to maintain its BVLOS waiver certificate.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: adverse changes to the benefits, features, and applications of the Company's products and technologies; the Company's inability to continue providing its product offerings; the Company's inability to maintain its target market for its products and technologies; the Company's inability to continue and carry out its mission as stated; and the Company's inability to maintain its BVLOS waiver certificate.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events, or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/185525
FAQ
Why did RDARS Inc. cancel the options?
How many options were cancelled?
What is the exercise price of the options?
What impact could the cancellation have on the company?
