Raadr Inc (RDAR)

[Werbe]

Mexedia owns Phonetime and Matchcom, theyre obligors on the 44 million loan. They are paying a million a month to pay this off. If they default, credit facility takes all Mexedia assets.

A default under our $45 million credit facility agreement could result in our lender foreclosing on the Mexedia Companies, resulting in our company’s loss of ownership of the Mexedia Companies. Because substantially all of the assets of the Mexedia Companies are pledged to securitize our credit facility agreement with our lender, Fasanara Securitisation S.A., an uncured default under such credit facility could result in our company’s losing ownership of the Mexedia Companies pursuant to a foreclosure action of our lender. If such an event were to occur, our company would no longer have any business operations.

Now RDAR has to pay off the redemption note with Jan Bella, who still calls the shots here. They still have control of the preferred since theyre being pledged for the preferred share transfer. RDAR needs to qualify REG A and sell enough shares to pay off that note by Sept 2025. Also you add in the new convertible notes to Mexedia management for BS bonus, which I am sure theyll convert on also. Looking at a tsunami of shares coming.