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.
News Market Reaction – RDAR
In the trading session that priced this news, RDAR declined 6.45%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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
"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.