Vancouver, British Columbia--(Newsfile Corp. - October 25, 2019) - Radial Research Corp. (CSE: RAD) ("Radial" or the "Company") is pleased to provide the following updates.
New Chief Financial Officer
The Company announces that its Chief Financial Officer and a member of the board of directors, Charles Ackerman, has resigned from such positions to focus more time on another business venture. Mr. Ackerman has done an outstanding job acting as Radial's CFO and as a member of the board of directors since the Company's inception, and his contributions will be missed.
Replacing Mr. Ackerman in the CFO role for Radial will be Nelson Lamb. Mr. Lamb completed a Bachelor of Commerce Degree from the University of Victoria in 2009. In 2013, he obtained his CPA, CA designation while working in the audit and assurance practice at PricewaterhouseCoopers. Since 2015, Mr. Lamb has been Manager of Accounting Services at PubCo Reporting Solutions, which provides outsourced consulting, finance and accounting services for a diverse group of private and publicly traded companies.
In connection with his appointment as CFO, Radial has issued Mr. Nelson 100,000 stock options. Each option is exercisable at a price of $0.20 per share, expires five years from the date of grant and vests three months from the date of issuance.
E-comm in Europe
As previously noted in the Company's most recent CSE Form 2A Listing Statement dated September 20, 2019 (the "Listing Statement"), Radial is currently spending some time and resources researching prospects for acquiring or developing an e-commerce platform based in Europe. This focus has recently narrowed more specifically to internally developing an e-comm sales platform for health supplements, with an initial focus on e-comm sales in Poland. The Company plans to use its existing contacts and resources in the CEE (Central and Eastern Europe), as well as its access to low cost and technically proficient programming and on-line marketing personnel based in the CEE, to develop an e-comm platform with significant local market advantages. More information will be made available as these efforts proceed.
Movie Method Developments
As reported in the Listing Statement, Radial has completed a full working version of the Company's Movie Method app, including a platform allowing for fast construction of media clip training flashcards. The app allows users to download, create and share media clip flashcards, which are designed to assist users in learning another language. Radial believes that learning another language in this way improves the quality of the learning while making the learning experience more entertaining. An essential component of the Movie Method app is ready and legal access to a large variety of shareable media clips for its users.
In 2019 the Company conducted a robust investigation of potential copyright issues surrounding the product and determined that Movie Method will specifically require copyright permissions from media clip producers or be restricted to the use of non-copyright media clips. The Company has further determined that using non-copyright materials only is likely not a feasible option, given that a good deal of Movie Method's appeal will come from the users' recognition of the media they are using to learn languages.
The Company will begin to approach content owners in an attempt to obtain copyright permission for enough material to make the app usable. If a strategic partner or partners with access to sufficient copyright material cannot be found, the Company may consider selling Movie Method to a party that may have better future access to copyright material or an alternative use for the Movie Method platform that does not risk violating copyright laws. More information will be made available as these efforts proceed.
About the Company
Radial Research Corp. is a technology company that develops online and download technologies and services, including software, websites and smartphone applications, with its initial focus being a language training smartphone application called "Movie Method". The Company is also seeking other opportunities in e-commerce, internet and smartphone-based technologies. For further information, please refer to the Company's disclosure record on SEDAR (www.sedar.com) or contact the Company by telephone at 778.999.7030.
This news release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, the Company's business, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect," "anticipate," "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: changes in economic conditions or financial markets; increases in costs; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; and technological or operational difficulties. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.
The CSE has not reviewed, approved or disapproved the contents of this news release.
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