RAADR to Settle Debt with Lender Typenex Co-Investment, LLC | New
PHOENIX, March 9, 2021 / PRNewswire / – RAADR, Inc. (OTC PINK: RDAR or the “Company”), a technology and software development company that monitors cyberbullying and social media platforms with artificial intelligence, is pleased to announce that it has entered into a settlement agreement with one of the previous Typenex Co-Investment, LLC (“Typenex”) of the previous lender.
The Company had previously sold and issued to Typenex a promissory note on November 23, 2015 (the “Promissory Note”) for an initial capital of $ 280,000.00 under a securities purchase agreement between the two companies dated November 23, 2015 (the “Purchase Agreement”).
The Company and Typenex entered into a Note Settlement Agreement dated March 8, 2021 (the “Settlement Agreement”) to fully settle the obligations owed under the Promissory Note and the Purchase Agreement.
Pursuant to the Settlement Agreement, Typenex has given the Company a conversion notice whereby the Company is obligated to issue to Typenex eighty-eight million (88,000,000) ordinary shares of the Company in full settlement. of the promissory note.
“My goal is to eliminate the old debt convertible into RAADR this year! The announcement of this settlement agreement is a perfect example! We will continue to negotiate with the company’s lenders to eliminate debt, ”said CEO Jacob Di Martino.
Contact: Jacob Dimartino, [email protected]
SOURCE RAADR, Inc.