Telvantis Inc.
Key statistics
from XBRL data in SEC filingsAI briefing
from the latest 10-K, 10-Q and 8-K eventsTelvantis, Inc. (RDAR), formerly RAADR, Inc. and PITOOEY!, Inc., is a Nevada-based company that has shifted from dental supply to child safety technology and social media marketing but currently generates no revenue.
What they do
The company was originally incorporated in 2006 as White Dental Supply, Inc., then became PITOOEY!, Inc. in 2013 and RAADR, Inc. in 2015. It acquired intellectual property for child safety devices and social media marketing platforms, including the RAADR web-based child safety tool and the PITOOEY! text messaging platform. It formed subsidiaries for mobile and social media marketing and iPhone app development, but operations in Rockstar Digital were terminated in 2013. The company's current operations are unclear, but it reports no revenue in recent quarters.
Revenue drivers
- RAADR child safety technology — A web-based tool for monitoring children's social media activity; no revenue has been reported from this product in recent periods.
- PITOOEY! text messaging platform — Intellectual property acquired in 2012 for a text messaging platform; no current revenue contribution reported.
- Social media and mobile marketing services — Services offered through subsidiaries Choice One Mobile and Rockstar Digital; Rockstar operations were terminated in 2013, and no revenue has been reported recently.
Recent performance
The company reported no revenue for the quarters ended June 30, 2015, September 30, 2015, June 30, 2016, and September 30, 2016. Annual revenue was $327,951 in 2013 and $82,055 in 2014, with no revenue reported for 2015. Net losses were $3.5 million in 2013, $2.0 million in 2014, and $9.2 million in 2015. Operating cash flow was negative $1.8 million in 2013, negative $671,680 in 2014, and negative $392,689 in 2015. As of September 30, 2016, total assets were $1,181, total liabilities were $3.6 million as of March 31, 2016, and shareholder equity was negative $4.3 million.
Strategy
The company has not articulated a clear current strategy in the provided excerpts, but historical filings show it acquired intellectual property in child safety devices and social media marketing. It formed subsidiaries to execute mobile and social media marketing strategies, though some were terminated. The 10-Q/A notes that the company terminated its SEC registration in February 2017 and is no longer required to file periodic reports. The filing was made at FINRA's request in connection with a proposed corporate action, indicating potential restructuring or reorganization.
Risks
- No revenue — The company has reported zero revenue in recent quarters and has not generated significant revenue since 2014.
- Going concern — With negative shareholder equity of $4.3 million and minimal cash, the company may be unable to continue operations without additional financing.
- Intellectual property disputes — The company decided not to complete the purchase of child safety device patents from Sebastian Barr and is delinquent on payment, not owning that intellectual property.
- SEC deregistration — The company terminated its SEC registration in February 2017, reducing public reporting and transparency.
Outlook
Management does not provide a clear forward-looking outlook in the provided excerpts. The company has not reported revenue in recent periods and has significant negative equity. The filing was made in connection with a FINRA corporate action, suggesting potential changes, but no details on future plans are given. The company may seek to raise capital or restructure, but no assurances can be made.