TORONTO, Oct. 20, 2022 /PRNewswire/ – RDARS Inc. (“RDARS” or the “Company“) (CSE: RDRS), an autonomous robotics and drone technology company developing advanced autonomous drone and robotic systems for alarm system augmentation and surveillance, is pleased to announce the completion of its first production run of its all-new Eagle Eye and Eagle Nest products at the Company’s manufacturing plant in Ontario, Canada, further to the Company’s press release dated September 13, 2022. The new Eagle Eye and Eagle Nest systems are being prepared for immediate deployment at locations in North America and will be central to RDARS’ strategy for seeking beyond visual line of sight environment (BVLOS) approvals with Transport Canada and the Federal Aviation Administration (FAA) in the United States.
“These systems are rolling off the assembly lines and our Company is on a roll,” commented Charles Zwebner, Chief Executive Officer of RDARS. “We are really excited about this milestone and we look forward to executing on our business plans,” added Charles.
The new v2.5 upgrade brings significant improvements to the capabilities of Eagle Eye and Eagle Nest. Eagle Eye v2.5 includes significant upgrades to its “Detect and Avoid” capabilities, propeller shrouds, and other additional features designed to ensure that regulatory agencies feel confident in the safety and operation of the platform. Eagle Nest v2.5 also sees significant changes including more robust weather protection, 360-degree visual views at both daytime and nighttime, as well as the addition of long range (LoRa) radios to communicate at range with other Eagle Watch Platform technologies. “This new version was produced in record time at our new facility in Ontario, Canada, and I am really proud of my team for meeting these milestones,” said Jason Braverman, Chief Technology Officer of RDARS. In addition, RDARS has further refined its manufacturing process resulting reduced manufacturing time and increased durability for its Eagle Eye and Eagle Nest.
These milestones are key achievements for RDARS as it follows its roadmap for design, development, testing and production of the first commercial “Autonomous Drone in a Box” solution which is tailor made for regulatory agency approval. The RDARS technology team has implemented and designed unique and novel solutions to help regulatory agencies feel confident in the solution and prepare the market for deployments across the North America at scale. Eagle Eye and Eagle Nest v2.5 both represent one of the most advanced systems of this type to be deployed. RDARS expects to file for the FAA Part 107 BVLOS waivers in the coming months as it tests these systems for general sale in North America and with limited commercialization anticipated for mid 2023.
About RDARS Inc.
RDARS possesses a disruptive technology that is advancing the security industry’s approach to protecting commercial, industrial, and residential properties, by introducing protection with autonomous artificial intelligence systems that allows for real time response, situation awareness, verification, intervention, evidence recording, data capture, analysis, and immediate downstream transmissions to public safety agencies. RDARS has the ability, upon a property security breach, in real time to receive, analyze, and downstream the data and inform public safety agencies who the perpetrators potentially are before they even arrive at the property.
Founded in 2019, RDARS is an original equipment manufacturer of its flagship product, the Eagle Watch Platform, comprised of Eagle Eye, a drone, Eagle Nest, a drone station, Eagle Rover, an indoor robotic system, and Eagle Watch Command & Control Software. The Company’s autonomous robotic systems provide situational awareness in a cost effective and reliable manner. The Company’s mission is to improve alarm response and situational awareness by obtaining required approvals from federal regulatory agencies for BVLOS operations. RDARS is currently developing its technology for private and enterprise customers in the United States and Canada, where these customers require a more reliable and advanced understanding of their property security. For more information about RDARS, please visit its website at www.rdars.com and its profile page on SEDAR at www.sedar.com.
Neither the Canadian Securities Exchange (the “CSE“) nor its Market Regulator (as such term is defined in the CSE policies) has reviewed or accept responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions. Forward-looking statements in this news release include statements relating to: the Company’s business objectives and milestones and the anticipated timing of, and costs in connection with, the execution or achievement of such objectives and milestones; the Company’s future growth prospects; the development of the Company’s business and future activities following the date hereof; expectations relating to market size and anticipated growth in the jurisdictions within which the Company may from time to time operate or contemplate future operations; expectations with respect to economic, business, regulatory and/or competitive factors related to the Company or the autonomous drone and robotic industry and security industry generally; the impact of the COVID-19 pandemic on the Company’s current and future operations; the market for the Company’s current and proposed product offerings, as well as the Company’s ability to capture market share; the Company’s strategic investments and capital expenditures, and related benefits; the distribution methods expected to be used by the Company to deliver its product offerings; the competitive landscape within which the Company operates and the Company’s market share and reach; the performance of the Company’s business and the operations and activities of the Company; the Company’s ability to obtain, maintain, and renew or extend, applicable authorizations, including the timing and impact of the receipt thereof; the Company’s technology making an impact on the autonomous drone and robotic industry and security industry; the Company’s products providing its consumers with the benefits as described herein; the Company continuing its research and development in its products; the Company’s plans for the Eagle Eye and Eagle Nest to be deployed in North America; Eagle Eye and Eagle Nest being central to the Company’s plans in seeking BVLOS approvals with Transport Canada and the FAA; the stated milestones being key achievements for the Company; the Company to follow its plans as stated; the Company’s implementation and design of solutions that will promote regulatory and market confidence in its products; the Company’s plans to apply for the FAA’s Part 107 BVLOS waivers in the coming months; and the Company’s plans for limited commercialization to occur in mid 2023.
Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company’s financial condition and development plans do not change as a result of unforeseen events; there will continue to be a demand, and market opportunity, for the Company’s product offerings; current and future economic conditions will neither affect the business and operations of the Company nor the Company’s ability to capitalize on anticipated business opportunities; current and future members of management will abide by the Company’s business objectives and strategies from time to time as established by the Company; the Company will retain and supplement its board of directors and management, or otherwise engage consultants and advisors having knowledge of the industries (or segments thereof) within which the Company may from time to time participate; the Company will have sufficient working capital and the ability to obtain the financing required in order to develop and continue its business and operations; the Company will continue to attract, develop, motivate and retain highly qualified and skilled consultants and/or employees, as the case may be; no adverse changes will be made to the regulatory framework governing beyond visual line of sight operations, taxes and all other applicable matters in the jurisdictions in which the Company conducts business and any other jurisdiction in which the Company may conduct business in the future; the Company will be able to generate cash flow from operations, including, where applicable, distribution and sale of its products; the Company will be able to execute on its business strategy as anticipated; the Company will be able to meet the requirements necessary to obtain and/or maintain authorizations required to conduct the business; the Company’s continuing ability to meet the requirements necessary to remain listed on the CSE; general economic, financial, market, regulatory, and political conditions, including the impact of the COVID-19 pandemic, will not negatively affect the Company or its business; the Company will be able to successfully compete in the autonomous drone and robotic industry and security industry; prices offered by competitors will not decline materially; the Company will be able to effectively manage anticipated and unanticipated costs; the Company will be able to conduct its operations in a safe, efficient and effective manner; general market conditions will be favourable with respect to the Company’s future plans and goals; the Company’s products providing its consumers with its benefits as described herein; the Company continuing its research and development in its products; the Company continuing its research and development in its products; the Company’s will deploy the Eagle Eye and Eagle Nest in North America; Eagle Eye and Eagle Nest will be central to the Company’s plans in seeking BVLOS approvals with Transport Canada and the FAA; the stated milestones will be key achievements for the Company; the Company will follow its plans as stated; the Company’s implementation and design of solutions will promote regulatory and market confidence in its products; the Company will apply for the FAA’s Part 107 BVLOS waivers in the coming months; and the Company will achieve limited commercialization occur in mid 2023.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the risks associated with the autonomous drone and robotic industry and security industry in general; the inability of the Company to obtain requisite approvals; the Company’s inability to attract and retain qualified members of management to grow the Company’s business and its operations; unanticipated changes in economic and market conditions (including changes resulting from the COVID-19 pandemic) or in applicable laws; the Company’s inability to secure or maintain required authorizations necessary to conduct the business and operations and meet its targets; the Company’s inability to effectively manage unanticipated costs and expenses, including costs and expenses; the risk’s associated with the Company’s in meeting its business objectives and milestones and the anticipated timing of, and costs in connection with, the execution or achievement of such objectives and milestones; the inability of the Company’s to identify and secure future growth prospects; the Company’s inability to develop its business and future activities following the date hereof; the Company’s inability to meet or exceed expectations relating to market size and anticipated growth in the jurisdictions within which the Company may from time to time operate or contemplate future operations; the Company’s inability to meet the requirements necessary to remain listed on the CSE; the Company’s inability to meet or exceed expectations with respect to economic, business, regulatory and/or competitive factors related to the Company or the autonomous drone and robotic industry and security industry generally; the Company’s inability to mitigate the impact of the COVID-19 pandemic on the Company’s current and future operations; the risks associated with the market for the Company’s current and proposed product offerings, as well as the Company’s inability to capture market share; the risks associated with the Company’s strategic investments and capital expenditures, and related benefits; the risks associated with the distribution methods expected to be used by the Company to deliver its product offerings; the risks associated with the competitive landscape within which the Company operates and the Company’s market share and reach following the date hereof; the lack of performance of the Company’s business and the operations and activities of the Company following the date hereof; the Company’s inability to obtain, maintain, and renew or extend, applicable authorizations, including the timing and impact of the receipt thereof; the Company’s technology making an impact on the autonomous drone and robotic industry and security industry; the inability of the Company’s products to provide its consumers with its benefits as described herein; the Company inability to continue its research and development in its products; the Company’s products providing its consumers with its benefits as described herein; the Company continuing its research and development in its products; the Company’s inability to deploy the Eagle Eye and Eagle Nest in North America; Eagle Eye and Eagle Nest will not be central to the Company’s plans in seeking BVLOS approvals with Transport Canada and the FAA; the stated milestones will not be key achievements for the Company; the Company will not follow its plans as stated; the Company’s implementation and design of solutions will not promote regulatory and market confidence in its products; the Company will not apply for the FAA’s Part 107 BVLOS waivers in the coming months; and the Company not will achieve limited commercialization occur in mid 2023.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
SOURCE RDARS INC.
