TUCSON,
Ariz., June 2, 2022 /PRNewswire/ -- AudioEye,
Inc. (NASDAQ: AEYE) (the "Company"), the industry-leading digital
accessibility platform delivering website accessibility compliance
to businesses of all sizes, today announced that its Board of
Directors (the "Board") has authorized the repurchase of up to
$3 million of the Company's
outstanding shares of common stock expiring on June 30, 2024. The Company intends to fund the
stock repurchase program with working capital and cash from
operations.
"We remain committed to strategically deploying capital that
will drive the greatest value for stockholders. This stock
repurchase program reflects the strength of our business and our
confidence in our future cash flow," said David Moradi, CEO at AudioEye.
The Company may repurchase stock from time to time in open
market transactions or through privately negotiated transactions in
accordance with applicable federal securities laws and other
applicable legal requirements. The timing and amounts of any
purchases under the stock repurchase program will be based on
market conditions and other factors, including price. The stock
repurchase program may be suspended or discontinued at any time and
does not obligate the Company to repurchase any dollar amount or
particular number of shares of stock.
About AudioEye
AudioEye is an industry-leading digital
accessibility platform delivering ADA and WCAG compliance at scale.
By combining easy-to-use technology and subject matter expertise,
AudioEye helps companies and content creators solve every aspect of
web accessibility—from finding and resolving issues to navigating
legal compliance, to ongoing monitoring and upkeep. Trusted by the
FCC, ADP, SSA, Samsung, and others, AudioEye delivers automated
remediations and continuous monitoring for accessibility issues
without making fundamental changes to website architecture, source
code, or browser-based tools. Join us on our mission to eradicate
barriers to digital access, visit www.audioeye.com.
Forward-Looking Statements
Any statements in this
press release or regarding the stock repurchase program about
AudioEye's expectations, beliefs, plans, objectives, prospects,
financial condition, assumptions or future events or performance
are not historical facts and are "forward-looking statements" as
that term is defined under the federal securities laws.
Forward-looking statements are often, but not always, made through
the use of words or phrases such as "believe", "anticipate",
"should", "confident", "intend", "plan", "will", "expects",
"estimates", "projects", "positioned", "strategy", "outlook" and
similar words. You should read the statements that contain these
types of words carefully. Such forward-looking statements contained
herein include, but are not limited to, statements regarding the
source of funds to be used to repurchase any shares under the
program, future cash flows of the Company, anticipated
contributions from new sales channels, long-term growth prospects,
opportunities in the digital accessibility industry, our revenue
and ARR guidance, and our expectation of investments in marketing
and sales. These statements are subject to a number of risks,
uncertainties and other factors that could cause actual results to
differ materially from what is expressed or implied in such
forward-looking statements, including the variability of AudioEye's
revenue and financial performance; risks associated with our new
platform, sales channels and offerings; product development and
technological changes; the acceptance of AudioEye's products in the
marketplace by existing and potential future customers;
competition; inherent uncertainties and costs associated with
litigation; general economic conditions; and uncertainties
regarding the impact on our business and the overall economy from
the coronavirus (COVID-19) outbreak. These and other risks are
described more fully in AudioEye's filings with the Securities and
Exchange Commission. There may be events in the future that
AudioEye is not able to predict accurately or over which AudioEye
has no control. Forward-looking statements reflect management's
view as of the date of this press release, and AudioEye urges you
not to place undue reliance on these forward-looking statements.
AudioEye does not undertake any obligation to update such
forward-looking statements to reflect events or uncertainties.
Investor Contact:
Brian M.
Prenoveau, CFA
AEYE@mzgroup.us
(561) 374-0177
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SOURCE AudioEye, Inc.