AudioEye, Inc. Completes $1.75 Million Equity Financing

While approximately 85% of the financing came from outside investors, participants in the financing included Carr Bettis, Executive Chairman of AudioEye, along with Independent Board Member Sandy Purcell, President Sean Bradley, and Strategic Consultant David Kovacs. "The completion of this financing, along with the participation of certain directors and executives, illustrates confidence in the Companys ability to execute on its business plan," stated Carr Bettis, Executive Chairman of AudioEye, Inc. "The financing provides additional runway for the Company to focus on sales to corporations, institutions and government agencies that understand the value of providing unparalleled web access to customers and constituents with disabilities, in addition to their need to comply with web accessibility laws." The Company also announced that over the past several weeks it has made significant adjustments to the cost structure of the firm, including staff reductions, material reductions in salary and salary deferrals by President Sean Bradley and Chief Innovation Officer Nathaniel Bradley, and the elimination of the Chief Operating Officer position entirely. Incorporated in 2005, AudioEye focuses on achieving web access equality and usability for all people through technological expertise and innovation. AudioEye is the creator of the worlds most inclusive, cloud-based, cross-platform/cross-browser, audible reader solution for accessible web browsing.