TORONTO – 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 that, further to its press release dated September 13, 2022, it has selected ModalAI’s (www.modalai.com) VOXL2 platform as a key component for its Eagle Eye drone. The VOXL2 ecosystem represents an advanced flight stack for autonomous drones and will provide the advanced capabilities RDARS is building into its Eagle Eye drone in order to meet Transport Canada’s Beyond Visual Line of Sight (“BVLOS”) requirements.
The VOXL2 platform is BlueUAS Framework compliant, allowing RDARS to more easily comply with the United States’ Department of Defense standard. “ModalAI has merged an advanced Qualcomm system-on-chip with the ease of use of the PX4 Autopilot. VOXL2 expands on this further through the integration of components and weight reduction,” said Jason Braverman, Chief Technology Officer of the Company. “VOXL2 is an extraordinary piece of technology, with its extremely low weight of 16 grams, and the ability to power 6 onboard cameras and a suite of other systems with ease. ModalAI gives RDARS a powerful and simpler path forward,” Jason added.
“We are excited about utilizing this powerhouse of advanced technology, which will allow us to introduce solutions into our Eagle Eye drone and Eagle Watch software that are ahead of the industry and times. We have built in features such as 360-degree visual observation from the drone during flight times that provides the pilot complete situation awareness and can mitigate risks in a BVLOS flight mission. We believe this will be the future of drone flights in a BVLOS environment and may become a regulatory requirement in the near future which RDARS will be well prepared for. We are excited that our work with ModalAI provides for and supports our solutions today, ahead of industry standards that are struggling with risk mitigation for BVLOS flights,” said Charles Zwebner, Chief Executive Officer of the Company. “We are forging ahead and are proud of our technology team leading the way with breakthrough technology,” added Charles.
ModalAI® accelerates autonomy by providing innovators with robot and drone perception and communications systems that are manufactured in the United States. ModalAl’s highly integrated artificial intelligence-powered modules empower a variety of industries to utilize aerial and ground autonomous navigations systems that communicate on 4G and 5G cellular networks.
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.
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 VOXL2 platform providing the Company’s products (including the Eagle Eye drone) the necessary advanced capabilities to meet or more easily meet regulatory, industry, and other standards and requirements; ModalAI giving the Company a powerful and simpler path forward; the Company’s use of artificial intelligence technology allowing the Company’s products to be ahead of the industry and times; and the Company forging ahead and the Company’s technology team leading the way with breakthrough technology.
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 technology will make an impact on the autonomous drone and robotic industry and security industry; the Company’s products providing its consumers with its benefits as described herein; the Company continuing its research and development in its products; the VOXL2 platform providing the Company’s products (including the Eagle Eye drone) the necessary advanced capabilities to meet or more easily meet regulatory, industry, and other standards and requirements; ModalAI giving the Company a powerful and simpler path forward; the Company’s use of artificial intelligence technology will allow the Company’s products to be ahead of the industry and times; and the Company will forge ahead and the Company’s technology team will lead the way with breakthrough technology.
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 VOXL2 platform not providing the Company’s products (including the Eagle Eye drone) the necessary advanced capabilities to meet or more easily meet regulatory, industry, and other standards and requirements; ModalAI not giving the Company a powerful and simpler path forward; the Company’s use of artificial intelligence technology not allowing the Company’s products to be way ahead of the industry and times; and the Company not forging ahead and the Company’s technology team not leading the way with breakthrough technology.
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.
