Phoenix, AZ, Nov. 12, 2015 (GLOBE NEWSWIRE) -- RAADR, Inc. (OTCQB: RDAR), a technology and software development company that monitors cyber bullying and social media platforms through its artificial intelligent proprietary web-based application, is pleased to announce an oral agreement is in place to retire over a million shares.
This agreement has come to fruition with a private shareholder who intends to retire 1.3 million shares of common stock. These shares have already been transferred to an escrow account through the company’s law firm and will be retired within 30 days.
By reducing the outstanding share count by roughly 1.25%, the supply of the company’s stock will decrease. Having fewer shares outstanding reduces the denominator in many corporate per-share valuation measurements, which leads to an increase in total firm value per share.
“We will continue to make decisions aligned with our shareholders’ interests,” says CEO, Jacob DiMartino, “We are constantly seeking opportunities to increase value for our investors, and we feel this stock retirement will help our investors in the open market.”
The company anticipates that no later than December 12th, 2015, these shares will be fully retired and removed from the outstanding share count.
About RAADR, Inc.
RAADR, Inc., makers of the artificial intelligent proprietary technology application RAADR©, have developed a web based tool that provides families with peace of mind when it comes to knowing that children are safe from bullying and predatory behavior unfortunately so prevalent today. By customizing their own unique monitoring and alert settings, parents and guardians can be alerted when their children's Facebook, Twitter, Instagram and other pertinent social media platforms under scrutiny become posted with inappropriate language. By utilizing customized keywords chosen by the user that are added to an already existing database, parents and guardians can carry a sense of assuredness that the youth they love and are responsible for are safe and acting in a fun, yet appropriate manner. No parent or guardian has the time or resources to be in constant surveillance of all the Social Media platforms in which their children might be active. Nor do most children want intense scrutiny of their updates and postings, despite the best intentions. You want to trust your children, while at the same time knowing that you are protecting them. RAADR© gives families the ability to protect their image, combat erroneous postings and for individuals safeguard their children from online bullying. The Company's core competency is focused on building and acquiring apps and other products, services and companies to build a nationwide network of related businesses that are positioned to serve the mobile app development needs of small businesses and individuals
This release contains statements that constitute 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. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief, or current expectations of RAADR, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond RAADR, Inc.'s ability to control and their actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in RAADR, Inc.'s filings with the Securities and Exchange Commission.
Office of Investor Relations