PHOENIX, Oct. 14, 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 has published a letter to shareholders from the Company's Chairman and Chief Executive Officer Jacob Dimartino.
The letter is published in its entirety below:
Dear Valued Shareholder:
It is with great pleasure that I confidently report to you that RAADR's future is bright. It is important that I begin this letter by saying that nothing in this letter should be interpreted as a solicitation to either buy or sell our stock. Over the past few months and with the assistance of our trusted advisors, we have embarked on several key initiatives which we believe are key drivers to build shareholder value over the short and long term. If you have been a shareholder of RAADR, Inc. for many months or even years, I thank you for your commitment to our business and we hope we can reward you this year. If you are a new shareholder, thank you for your decision to become a shareholder and thank you for the confidence you have placed in our company as we unveil the new 2.0 version of RAADR's Parental monitoring application in the fourth quarter of 2021.
The time for the Parent monitoring app is now. Just this past week, the world has learned that one of the most famous coaches in NFL history who until recently coached one of the most heralded franchises in NFL history exhibited behavior over almost a decade (the past decade!!) that is consistent with the bullies that RAADR's new 2.0 Parental monitoring app is intended to stamp out. The fact is that in 2021, the world we live in can't tolerate racist, homophobic and transphobic language that is intended to denigrate people. As we previously announced, we congratulate Facebook Whistleblower Frances Haugen for her transformational congressional testimony that showed the world how one of the world's largest and most powerful companies consciously creates products that Facebook knows affects children in a negative way. Facebook creates products such as Instagram which puts tremendous pressure on young girls to look a certain way so they can feel accepted by their peers, The new 2.0 Parental monitoring app initial purpose is to protect children by bringing bullying to the surface in a constructive way and there can be no better time for the app's release than our targeted Q4 2021 release. Bullies don't come in one form or in one style nor does bullying only target one group of people. The reality is that bullying comes in all shapes and sizes. Our app will target bullying ultimately in all shapes and all sizes and will adapt as new forms of bullying are introduced to society.
As many of our shareholders know and as we announced, we have begun the progress to become a fully reporting SEC company. We believe this decision is consistent with our goal of creating shareholder value. In order to become a fully reporting company, we must get our financial statements audited by an auditor who is a member of the PCAOB. We have engaged our PCAOB auditor and we are currently in the process of consistently providing the information requested by our auditor so that the auditor can complete the audit and issue their opinion on a timely basis. Once the audit is complete, we will then with the assistance of our securities counsel file the necessary documents to begin the formal review by the United States Securities and Exchange Commission over the next few months to become a fully reporting company. The move from alterative reporting to audited financial statements will allow our company to seek better investment terms and as we hope, a better evaluation from the institutional and retail investors as we achieve our business goals.
I would also like to address the world of toxic debt and our use of toxic debt. Toxic debt are notes or debentures that allow the lender to convert into equity typically at the option of the lender at prices which are a significant discount to the stock price at the time the conversion takes place. The discounted conversion price is an offset to the risk the lender is taking for lending money to smaller companies without current net earnings or positive cash flow to service the debt. This type of lending usually creates significant downward pressure on a public company's stock's price as the lender begins to convert their debt into equity. Over the past 2 years, the Securities and Exchange Commission filed lawsuits against some of the biggest toxic lenders in the country for alleged securities law violations. As a result of our experience that this debt has placed too much selling pressure on our company's stock price, we have made a commitment and we have previously announced that we do not anticipate that we will enter into any of these types of toxic debt financial transactions going forward. This decision has been positively received by all our shareholders and we will remain steadfast in our decision.
In order to fuel our business goals and in order to get the bully app released, we do have to continue to raise capital until our revenue grows. In May of this year, we hired William Eilers Esq. who assisted us in filing a form 1-A with the United Securities and Exchange Commission to raise capital via a Reg A. In September of 2021, we were notified by the SEC that the review was complete and a result of the completion of the review (also known as qualified), we have begun to raise capital by selling the Reg A stock to a very small group of investors. As compared to the toxic lenders, we believe that these investors are more aligned with our long-term goal of creating shareholder value.
RAADR is perfectly positioned for the 4th quarter of 2021. We fully intend to release the new 2.0 Parental monitoring application in the fourth quarter for both IOS and android devices. We are also working extremely hard to complete our filings with the United Securities Exchange Commission in the 4th quarter of 2021 to become a fully reporting company.
Thank you for believing in RAADR. In closing, we appreciate the loyalty and enthusiasm being displayed by our shareholders. We hope to deliver more good news in the very near future.
Thank you and respectfully,
Chairman and President
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 sometime in late 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 Spring of 2022. 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
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