Restaurant.com, owned by RDE, Inc. (OTCQB: RSTN), has inked another potentially lucrative deal. Following an agreement with MemberHub announced last week, the owner and operator of the nation’s largest restaurant-focused digital deals brand said it has partnered with AMAC, the Association of Mature American Citizens, and its 2.3 million members. This agreement targets the senior adult population.
Specifically, AMAC represents Americans 50 plus and is centered on American values, freedom of the individual, free speech, exercise of religion, equality of opportunity, sanctity of life, rule of law, and love of family, with benefits at all levels. The organization plays a vital role in helping build the services that will enrich the lives of America’s seniors, and as a 501 (C)(4), advocates for issues important to its membership on Capitol Hill and locally through grassroots activism.
Moreover, AMAC believes in empowering the individual, offering maximum returns for membership, access to accurate, timely, and valuable information, and honoring older Americans, from veterans to the timeless intergenerational bonds that define healthy families. The deal with Restaurant.com aligns with their vision to help all Americans to live longer, healthier and happier while helping future generations of Americans to do the same.
The partnership is a win-win deal. For AMAC, it extends RSTN’s national restaurant-focused digital discounts to its 2.3 million members. And for RSTN, it adds an additional target audience that can drive revenues and enhance long-term shareholder value by sharing its digital deals and providing access to discounted deals at local and national restaurants.
The AMAC deal is the third partnership announced in since late February.
Growing User Base Adds Momentum To Strong 2021 Start
The agreement with AMAC follows RSTN’s announcement last Thursday of its partnership with MemberHub, the largest and fastest-growing community engagement software company for K-12 parent groups. That group currently serves over 12,800 organizations that engage with more than 2.8 million K-12 parents and followed a deal announced with Rosebud Restaurants just a few days earlier.
There, RSTN said it will partner with Rosebud Restaurants to provide marketing services on its digital deals platform for their six Rosebud and two Carmine’s locations across Chicagoland. The three recent agreements add momentum to its report of strong earnings in 2020.
On March 1st, RDE, Inc. announced unaudited financial results for the year ending December 31, 2020. According to RSTN, despite the operating headwinds during the ongoing COVID-19 health pandemic, it recorded revenue of $2.9 million with a net income of $332,000, or $0.06 in earnings per share. Those results compare to a loss per share of ($1.37) in 2019.
RDE noted that the revenue figure reflects business recorded from March 1st, 2020, the effective date of RDE’s acquisition of Restaurant.com, rather than the full year 2020. Thus, the twelve months revenue for Restaurant.com was $4.4 million. All financial results are subject to the audit.
After audit, results could have RDE, Inc. swinging into a profit. A breakdown of the results showed Net income from continuing operations of $531,000, demonstrating marked improvement compared with a loss of $2.1 million in 2019. On a per-share basis, RDE delivered EPS of $0.06 compared with a negative EPS of ($1.37) in 2019. Notably, the 2020 net income and EPS include a positive non-cash change in derivative liability due to convertible notes’ accounting.
Shareholder’s Equity for the year also had a significant turn for the positive. According to its update, Equity jumped from a ($7.8 million) deficit to $1.1 million in Equity for the year. Further, with the removal of all institutional convertible debt, management expects balance sheet improvement and bottom-line growth to continue to demonstrate meaningful increases going forward.
Shares of RSTN have increased by more than 84% since the start of the year and closed last week higher by 34%.
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