RDE, Inc. Becomes a Fully-Compliant SEC Reporting Company and Files 10Q for Quarter Ended March 31, 2022

Rhea-AI Summary

RDE, Inc. (RSTN) announces full compliance as an SEC reporting company, marking a significant milestone for the firm. With a cash reserve of $1.5 million as of March 31, 2022, the company aims to access capital markets more effectively. In Q1 2022, RDE reported revenues of $0.8 million and a net income of $0.3 million, yielding an EPS of $0.02 per share. The company is also expanding its partnerships to boost revenue growth, reaching over 182,500 restaurants and 7.8 million customers.

Positive

• Achieved full compliance as an SEC reporting company, enhancing access to capital markets.
• Partnerships signed with Blackhawk Network, Fresh Vine Wine, and Takeout7 to increase visibility and revenue growth.
• Reported Q1 2022 revenue of $0.8 million and net income of $0.3 million.

Negative

• None.

Strong Balance Sheet with $1.5 Million in Cash as of March 31, 2022

ATLANTA, GA, July 19, 2022 (GLOBE NEWSWIRE) -- RDE, Inc. (OTCQB: RSTN) (the “Company”), the owner and operator of Restaurant.com, the nation’s largest restaurant-focused digital deals brand, is pleased to announce it is now a fully-compliant SEC reporting company.

Ketan Thakker, Chief Executive Officer of RDE, Inc., commented, “Our entire team, from our Board of Directors and Executive Management team to our employees, is extremely proud of reaching this major milestone in our development. We have now fulfilled a commitment we made to our shareholders and put ourselves firmly on the path towards greater access to capital markets. We believe this step should assist in enabling us to fulfill our business objectives going forward.”

Thakker, continued, “We are excited about our recent business progress with the signing of additional partnerships that are expected to increase visibility and awareness and accelerate revenue growth. These include Blackhawk Network, Fresh Vine Wine and Takeout7. Restaurant.com is a pioneer in the restaurant deal space and the nation’s largest restaurant-focused digital deals brand. Our network of digital consumers, businesses, and communities now reach over 182,500 restaurants and retailers and cover 7.8 million customers. Our top three B2C markets are New York, Chicago and Los Angeles.”

For the first quarter ended March 31, 2022, the Company reported $0.8 million revenue and $0.3 million net income for an EPS of $0.02 per share.

About RDE, Inc.
RDE, Inc. (OTCQB: RSTN) (Restaurant, Dining and Entertainment) is a pioneer in the restaurant deal space and the nation’s largest restaurant-focused digital deals brand. Founded in 1999, Restaurant.com, Specials by Restaurant.com and our Corporate Incentives division connect digital consumers, businesses and communities offering thousands of dining, retail and entertainment deal options nationwide at over 182,500 restaurants and retailers. Restaurant.com prides itself on offering the best deal, every meal. Our restaurant certificates and gift cards allow customers to save at thousands of restaurants across the country with just a few clicks.

For more information, visit: www.rdeholdings.com and https://www.restaurant.com.

Forward-Looking Statements
Press Releases may include forward-looking statements. In particular, the words “believe,” “may,” “could,” “should,” “expect,” “anticipate,” “estimate,” “project," "propose," "plan," "intend," and similar conditional words and expressions are intended to identify forward-looking statements. Any statements made in this news release about an action, event or development, are forward-looking statements. Such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the company. Accordingly, you should not place undue reliance on these forward-looking statements. Although the company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that its forward-looking statements will prove to be correct. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The company takes no obligation to update or correct its own forward-looking statements, except as required by law or those prepared by third parties that are not paid by the company. Statements in this press release that are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although RDE, Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, RDE, Inc. is unable to give any assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include the company’s ability identify a suitable business model for the corporation.

Investors Contacts:
ClearThink
nyc@clearthink.capital

FAQ

What is RDE, Inc.'s cash position as of March 31, 2022?

RDE, Inc. has a cash position of $1.5 million as of March 31, 2022.

What were RDE, Inc.'s financial results for Q1 2022?

In Q1 2022, RDE, Inc. reported revenues of $0.8 million and a net income of $0.3 million, resulting in an EPS of $0.02.

What partnerships has RDE, Inc. formed to enhance its business?

RDE, Inc. has signed partnerships with Blackhawk Network, Fresh Vine Wine, and Takeout7 to boost visibility and accelerate revenue growth.

What major milestone did RDE, Inc. achieve in July 2022?

In July 2022, RDE, Inc. announced that it became a fully-compliant SEC reporting company.

How many restaurants and customers does RDE, Inc. serve?

RDE, Inc. reaches over 182,500 restaurants and 7.8 million customers.