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I see, I have to wonder why it isn't posted on the SEC EDGAR site.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
? QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.
For the quarterly period ended June 30, 2022
OR
? TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ________ to ________
Commission File Number: 000-30542
DATA443 RISK MITIGATION, INC.
(Exact name of registrant as specified in its charter)
Nevada 86-0914051
(State of
incorporation)
(I.R.S. Employer
Identification No.)
4000 Park Drive, Suite 400
Research Triangle Park, North Carolina
27709
(Address of principal executive offices) (Zip Code)
(919) 858-6542
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class Trading Symbol(s) Name of each exchange on which registered
N/A N/A N/A
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and, (2) has been subject to such filing requirements for the past 90 days.
Yes ? No ?
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Yes ? No ?
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer ? Accelerated filer ?
Non-accelerated filer ? Smaller reporting company ?
Emerging growth company ?
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ?
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).
Yes ? No ?
The outstanding number of shares of common stock as of August 15, 2022 was 954,561.
DATA443 RISK MITIGATION, INC.
FORM 10-Q
TABLE OF CONTENTS
PART I. FINANCIAL INFORMATION
ITEM 1. Financial Statements 2
Consolidated Balance Sheets as of June 30, 2022 and December 31, 2021 (unaudited) 2
Consolidated Statements of Operations for the three and six months ended June 30, 2022 and 2021 (unaudited) 3
Consolidated Statements of Stockholders’ Deficit for the three and six months ended June 30, 2022 and 2021 (unaudited) 4
Consolidated Statements of Cash Flows for the six months ended June 30, 2022 and 2021 (unaudited) 6
Notes to the Unaudited Consolidated Financial Statements 7
ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 20
ITEM 3. Quantitative and Qualitative Disclosures About Market Risk 29
ITEM 4. Controls and Procedures 29
PART II. OTHER INFORMATION
ITEM 1. Legal Proceedings 30
ITEM 1A. Risk Factors 30
ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 30
ITEM 3. Defaults Upon Senior Securities 31
ITEM 4. Mine Safety Disclosures 31
ITEM 5. Other Information 31
ITEM 6. Exhibits 31
SIGNATURES 35
1
PART I
FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
DATA443 RISK MITIGATION, INC.
CONSOLIDATED BALANCE SHEETS
(Unaudited)
June 30, December 31,
2022 2021
Assets
Current assets
Cash $ - $ 1,204,933
Accounts receivable, net 231,507 21,569
Advance payment for acquisition 2,726,188 -
Prepaid expense and other current assets 27,950 70,802
Total current assets 2,985,645 1,297,304
Property and equipment, net 305,196 288,406
Operating lease right-of-use assets, net 134,198 174,282
Intellectual property, net of accumulated amortization 809,275 1,269,819
Deposits 21,026 31,440
Total Assets $ 4,255,340 $ 3,061,251
Liabilities and Stockholders’ Deficit
Current Liabilities
Bank overdraft 3,781 -
Accounts payable and accrued liabilities 417,466 115,673
Deferred revenue 1,510,827 1,035,185
Interest payable 309,180 204,915
Notes payable, net of unamortized discount 1,799,147 1,720,777
Convertible notes payable, net of unamortized discount 1,942,774 993,931
Due to a related party 277,033 247,366
Operating lease liability 118,848 112,322
Finance lease liability 41,914 72,768
Total Current Liabilities 6,420,970 4,502,937
Series B Preferred Stock, 80,000 shares designated; $0.001 par value; Stated value $10.00; 0 and 29,750 shares issued and outstanding, net of discount as of June 30, 2022 and December 31, 2021, respectively - 278,811
Notes payable, net of unamortized discount - non-current 1,734,439 1,770,989
Convertible notes payable, net of unamortized discount - non-current 98,488 22,357
Deferred revenues - non-current 1,071,761 573,411
Operating lease liability - non-current 64,072 125,640
Finance lease liability - non-current - 10,341
Total Liabilities 9,389,730 7,284,486
Stockholders’ Deficit
Preferred stock: 337,500 authorized; $0.001 par value Series A Preferred Stock, 150,000 shares designated; $0.001 par value; 149,892 and 150,000 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively 150 150
Common stock: 125,000,000 authorized; $0.001 par value 954,561 and 122,044 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively 954 122
Additional paid in capital 40,842,698 37,810,380
Accumulated deficit (45,978,192 ) (42,033,887 )
Total Stockholders’ Deficit (5,134,390 ) (4,223,235 )
Total Liabilities and Stockholders’ Deficit $ 4,255,340 $ 3,061,251
See the accompanying notes, which are an integral part of these unaudited consolidated financial statements.
2
DATA443 RISK MITIGATION, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
Three Months Ended Six Months Ended
June 30, June 30,
2022 2021 2022 2021
Revenue $ 750,989 $ 762,352 $ 1,363,505 $ 1,600,220
Cost of revenue 78,593 96,830 278,272 263,824
Gross profit 672,396 665,522 1,085,233 1,336,396
Operating expenses
General and administrative 2,116,220 1,311,396 3,089,782 2,744,961
Sales and marketing 59,635 49,220 180,030 144,644
Total operating expenses 2,175,855 1,360,616 3,269,812 2,889,605
Loss from operations (1,503,459 ) (695,094 ) (2,184,579 ) (1,553,209 )
Other income (expense)
Interest expense (942,753 ) (671,862 ) (2,037,069 ) (1,577,288 )
Gain (loss) on settlement of debt - - - (227,501 )
Change in fair value of derivative liability - (178,398 ) (57,883 ) (363,654 )
Total other expense (942,753 ) (850,260 ) (2,094,952 ) (2,168,443 )
Loss before income taxes (2,446,212 ) (1,545,354 ) (4,279,531 ) (3,721,652 )
Provision for income taxes - - - -
Net loss $ (2,446,212 ) $ (1,545,354 ) $ (4,279,531 ) $ (3,721,652 )
Dividend on Series B Preferred Stock - (5,492 ) (104,631 ) (9,441 )
Net loss attributable to common stockholders $ (2,446,212 ) $ (1,550,846 ) $ (4,384,162 ) $ (3,731,093 )
Basic and diluted loss per Common Share $ (3.25 ) $ (16.90 ) $ (9.62 ) $ (44.33 )
Basic and diluted weighted average number of common shares outstanding 753,561 91,430 444,824 83,948
See the accompanying notes, which are an integral part of these unaudited consolidated financial statements.
3
DATA443 RISK MITIGATION, INC.
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ DEFICIT
(Unaudited)
Six months ended June 30, 2022
Series A Additional Total
Preferred Stock Common Stock Paid in Accumulated Stockholders’
Shares Amount Shares Amount Capital Deficit Deficit
Balance - December 31, 2021 150,000 $ 150 122,044 $ 122 $ 37,810,380 $ (42,033,887 ) $ (4,223,235 )
Cumulative-effect adjustment from adoption of ASU 2020-06 - - - - (517,500 ) 439,857 (77,643 )
Common stock issued for acquisition of Centurion assets - - 380,952 381 2,475,807 - 2,476,188
Common stock issued for conversion of preferred stock (108 ) - 108,000 108 (108 ) -
Common stock issued for conversion of debt - - 165,273 165 29,160 - 29,325
Common stock issued in conjunction with convertible notes - - 18,170 18 140,918 - 140,936
Common stock issued for exercised cashless warrant - - 6,631 7 (7 ) - -
Common stock issued for service - - 153,491 153 844,048 - 844,201
Resolution of derivative liability upon exercise of warrant - - - 57,883 - 57,883
Warrant issued in conjunction with debts - - - 47,628 - 47,628
Stock-based compensation - - - (45,511 ) - (45,511 )
Net loss - - - - (4,384,162 ) (4,384,162 )
Balance - June 30, 2022 149,892 $ 150 954,561 $ 954 $ 40,842,698 $ (45,978,192 ) $ (5,134,390 )
Three months ended June 30, 2022
Series A Additional Total
Preferred Stock Common Stock Paid in Accumulated Stockholders’
Shares Amount Shares Amount Capital Deficit Deficit
Balance - March 31, 2022 150,000 $ 150 148,367 $ 148 $ 37,353,357 $ (43,531,980 ) $ (6,178,325 )
Common stock issued for acquisition of Centurion assets - - 380,952 381 2,475,807 - 2,476,188
Common stock issued for conversion of preferred stock (108 ) - 108,000 108 (108 ) - -
Common stock issued for conversion of debt - - 151,200 151 1,361 - 1,512
Common stock issued for service - - 153,491 153 844,048 - 844,201
Common stock issued in conjunction with convertible notes - - 12,551 13 78,431 - 78,444
Warrant issued in conjunction with debts - - - - 47,628 - 47,628
Stock-based compensation - - - - 42,174 - 42,174
Adjustment of reverse stock split - - - -
Net loss - - (2,446,212 ) (2,446,212 )
Balance - June 30, 2022 149,892 150 954,561 954 40,842,698 (45,978,192 ) (5,134,390 )
See the accompanying notes, which are an integral part of these unaudited consolidated financial statements.
4
DATA443 RISK MITIGATION, INC.
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ DEFICIT
(Unaudited)
Six Months Ended June 30, 2021
Total
Series A
Preferred Stock
Common Stock
Additional
Paid in
Accumulated
Stockholders’
Equity
Shares Amount Shares Amount Capital Deficit (Deficit)
Balance - December 31, 2020 150,000 $ 150 522,006 $ 522 $ 32,027,240 $ (35,518,584 ) $ (3,490,672 )
Common stock issued for cash - - 83,336 83 846,718 - 846,801
Common stock issued for conversion of preferred stock - - 14,533 15 312,908 312,923
Common stock issued for conversion of debt - - 101,748 102 1,523,156 - 1,523,258
Common stock issued in conjunction with convertible note - - 2,863 3 88,735 - 88,738
Common stock issued for exercised cashless warrant - - 8,923 9 (9 ) - -
Resolution of derivative liability upon exercise of warrant - - - - 139,067 - 139,067
Stock-based compensation - - 9,168 9 680,435 - 680,444
Adjustment of reverse stock split - - 669 - - - -
Net loss attributable to common stockholders - - - - - (3,731,093 ) (3,731,093 )
Balance - June 30, 2021 150,000 $ 150 743,246 $ 743 $ 35,618,250 $ (39,249,677 ) $ (3,630,534 )
Three Months Ended June 30, 2021
Series A Additional Total
Preferred Stock Common Stock Paid in Accumulated Stockholders’
Shares Amount Shares Amount Capital Deficit Deficit
Balance - March 31, 2021 150,000 150 721,032 721 34,864,967 (37,698,831 ) (2,832,993 )
Cash received for issued stock - - - - 193,196 - 193,196
Common stock issued for conversion of preferred stock - - 8,934 9 144,707 - 144,716
Common stock issued for exercised cashless warrant 8,923 9 (9 ) - -
Resolution of derivative liability upon exercise of warrant - - 139,067 - 139,067
Stock-based compensation - - 3,688 4 276,322 - 276,326
Adjustment of reverse stock split - - 669 - - - -
Net loss attributable to common stockholders - - - - (1,550,846 ) (1,550,846 )
Balance - June 30, 2021 150,000 150 743,246 743 35,618,250 (39,249,677 ) (3,630,534 )
See the accompanying Notes, which are an integral part of these unaudited Consolidated Financial Statements
5
DATA443 RISK MITIGATION, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
Six Months Ended
June 30,
2022 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss $ (4,279,531 ) $ (3,721,652 )
Adjustments to reconcile net loss to net cash used in operating activities:
Change in fair value of derivative liability 57,883 363,654
(Gain) loss on settlement of debt - 227,501
Stock-based compensation expense 798,690 680,444
Loss on impairment of intangible asset - -
Depreciation and amortization 540,714 554,557
Amortization of debt discount 1,549,752 1,448,308
Lease liability amortization (14,958 ) (13,107 )
Changes in operating assets and liabilities:
Accounts receivable (209,938 ) 22,233
Prepaid expenses and other assets 42,852 (24,425 )
Accounts payable and accrued liabilities 308,642 3,616
Deferred revenue 973,992 (428,116 )
Accrued interest 105,577 63,912
Deposit 10,414 -
Net Cash used in Operating Activities (115,911 ) (823,075 )
CASH FLOWS FROM INVESTING ACTIVITIES:
Advance payment for acquisition (250,000 ) -
Purchase of property and equipment (96,960 ) (79,020 )
Net Cash used in Investing Activities (346,960 ) (79,020 )
CASH FLOWS FROM FINANCING ACTIVITIES:
Bank overdraft 3,781 -
Proceeds from issuance of convertible notes payable 1,207,800 100,000
Repayment of convertible notes payable (758,346 ) -
Proceeds from issuance of common stock - 846,801
Proceeds from issuance of Series B Preferred Stock 75,000 250,000
Redemption of Series B Preferred Stock (487,730 ) -
Finance lease payments (41,195 ) (43,931 )
Proceeds from issuance of notes payable 1,186,453 2,574,647
Repayment of notes payable (1,957,492 ) (2,734,275 )
Proceeds from related parties 116,238 271,464
Repayment to related parties (86,571 ) (414,187 )
Net Cash provided by (used in) Financing Activities (742,062 ) 850,519
Net change in cash (1,204,933 ) (51,576 )
Cash, beginning of period 1,204,933 58,783
Cash, end of period $ - $ 7,207
See the accompanying notes, which are an integral part of these unaudited consolidated financial statements.
6
DATA443 RISK MITIGATION, INC.
NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30, 2022
NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Description of Business
Data443 Risk Mitigation, Inc. (the “Company”, “we”, “us” and “our”) was incorporated as a Nevada corporation on May 4, 1998. On October 15, 2019, the Company changed its name from LandStar, Inc. to Data443 Risk Mitigation, Inc. within the State of Nevada.
We deliver solutions and capabilities that businesses can use in conjunction with their use of established cloud vendors such as Microsoft® Azure, Google® Cloud Platform (GCP) and Amazon® Web Services (AWS), as well as with on-premises databases and database applications with virtualization platforms, such as those hosted or configured using VMWare®, Citrix® and Oracle® clouds/products).
On January 19, 2022, we entered into an Asset Purchase Agreement with Centurion Holdings I, LLC (“Centurion”) to acquire the intellectual property rights and certain assets collectively known as Centurion SmartShield Home and SmartShield Enterprise, patented technology that protects and recovers devices in the event of ransomware attacks. The total purchase price of $3,400,000 consists of: (i) a $250,000 cash payment at closing; (ii) a $2,900,000 promissory note issued by Data443 in favor of Centurion (“Centurion Note”); and (iii) $250,000 in the form of a contingent payment. The Centurion Note matures January 19, 2027 but provides that Data443’s repayment obligation would accelerate on the occurrence of events. One of those events was a financing event that did not occur within the originally anticipated timeframe. If that event had occurred, then Data443’s repayment obligation would have been to repay the balance of the outstanding principal and interest as follows: (i) $500,000 of the then-outstanding amount due in cash; and (ii) the remaining balance, at Data443’s option, in Common Stock or a combination of Common Stock and cash, with the number of shares of Common Stock to be determined according to a specified formula. In April 2022, Data443 and Centurion agreed that, even though the trigger for this acceleration event did not occur, Data443 would issue shares of Common Stock to Centurion in an amount then-equivalent to $2,400,000, as partial repayment of the obligation due under the Centurion Note. The number of shares of Common Stock Data443 issued to Centurion on April 20, 2022, was 380,952. Because Data443 still has some repayment obligations to fulfill under the Centurion Note, as of the filing date of these financial statements, the acquisition that is the subject of the Centurion Asset Purchase Agreement is still not completed.
Basis of Presentation
These unaudited consolidated financial statements have been prepared in accordance rules and regulations of the Securities and Exchange Commission (“SEC”) and generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, the unaudited consolidated financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, we have included all adjustments considered necessary for a fair presentation and such adjustments are of a normal recurring nature. These unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2021 and notes thereto and other pertinent information contained in our Form 10-K as filed with the SEC on March 31, 2022. The results of operations for the six months ended June 30, 2022, are not necessarily indicative of the results to be expected for the full fiscal year ending December 31, 2022.
Basis of Consolidation
The accompanying unaudited consolidated financial statements as of June 30, 2022 include our accounts and those of our wholly-owned subsidiary, Data 443 Risk Mitigation, Inc., a North Carolina operating company. These unaudited consolidated financial statements have been prepared on the accrual basis of accounting in accordance with GAAP.
7
Stock-Based Compensation
Employees – We account for share-based compensation under the fair value method which requires all such compensation to employees, including the grant of employee stock options, to be calculated based on its fair value at the measurement date (generally the grant date), and recogniz
They have file one.
Q3 is almost done and still no Q2 filing. I guess they have 6 months before they become a Pink no information security. So what is Jason hiding?
I haven't been paying attention to this stock but it appears that they are late on the Q2 filing and have not releases a notice of late quarterly filing for Q2. I see one out of order on the SEC site for Q1, but not Q2. Maybe Jason will be sent down to the expert market by not being pink current soon. Maybe he does need a Chief Financial Officer and we just don't know why without a new filing. I hope he is in deep shit...poetic justice!
The CFO that was introduced in December 2021 didn't last long. Typical press release from Jason in that he doesn't mention a resignation of the old CFO but announces the new CFO. $180K base for a CFO when what they could badly use is someone who knows software. Throwing shares at the employment contract because we all know how easily they are printed for this ticker. How many OTC tickers boast about having a Chief Legal Officer. ...Mr. McCraw’s appointment comes shortly after Data443’s appointment of Pamela Maher as Chief Legal Officer...
Data443 Announces the Appointment of Nanuk Warman as Chief Financial Officer
December 09, 2021 08:00 ET | Source: Data443 Risk Mitigation, Inc.
https://www.globenewswire.com/news-release/2021/12/09/2349156/0/en/Data443-Announces-the-Appointment-of-Nanuk-Warman-as-Chief-Financial-Officer.html
8K Announcing CFO resignation
https://sec.report/Document/0001493152-22-025354/
Nanuk Warman, Chief Financial Officer of Data443 Risk Mitigation, Inc. (the “Company”) provided notice that he is resigning from the Company, effective September 8, 2022. On September 8, 2022, the Board of Directors of the Company appointed Greg McCraw to serve as the Company’s Chief Financial Officer, effective immediately...
In connection with his appointment, Mr. McCraw will be entitled to an annual base salary in the amount of $180,000, and quarterly grants of restricted stock awards and incentive stock options in amounts equivalent to $45,000 and $35,000, respectively. Mr. McCraw will also be eligible to participate in the Company’s bonus plan, with Mr. McCraw’s eligible bonus payment to be based on achievement of certain performance objectives and goals.
Research Triangle Park, NC, Sept. 08, 2022 — Data443 Risk Mitigation, Inc. (“Data443” or the “Company”) (OTCPK: ATDS), a data security and privacy software company for ALL THINGS DATA SECURITY™, today announced the appointment of Greg McCraw as the Company’s Chief Financial Officer.
Mr. McCraw will be working out of the Company’s Research Triangle Park office and has over 25 years of experience helping businesses strengthen their accounting and finance operations, addressing compliance challenges in highly regulated environments and implementing accounting best practices. Mr. McCraw previously served as Vice President of Finance for a Dental Services Organization active in acquisitions, and prior to that was Managing Director of a boutique accounting and finance consulting firm advising Fortune clients in pharmaceutical, financial services, and private equity sectors on how to execute on regulatory and compliance solutions.
“Mr. McCraw’s appointment results from a comprehensive search for a local leader with high quality attributes and specialist capabilities. We believe that this appointment is timely and continues to support our core business goals” stated Mr. Remillard, President and Chief Executive Officer of the Company.
Mr. McCraw added, “I am excited to join a fast-growing cybersecurity organization right here in the ‘Triangle’ that leverages my core skills in finance, mergers and acquisitions, all types of financing and program management and team development. I am excited to step into this role at a great organization and to be a part of its growth story!”
Mr. McCraw’s appointment comes shortly after Data443’s appointment of Pamela Maher as Chief Legal Officer, who has navigated other organizations through data privacy compliance efforts, initial public offerings, and other financing activities.
And their bank account is over drawn!! Hell of a job, Jason!!
Nice 10-q revenue is dropping and debt exploding lol
Fuck you Jason there’s a special place in hell for you
Pretty much what was expected with 800K new shares handed out after the reverse split. Walk it up, let the bid build, hit them with the new shares. It works, and will continue to work in my opinion, because traders love the story. Never mind that PC mag rated the $3 million+ ransomware purchase to be $ht and pulled from the market. Just what you would expect from this company given their past.
Retail? who will touch this sh...tty co, lets talk about regular share buyers, no one has any interest in it as they know the "Scamers" of ATDS quite well!!..
There is so little retail influence after the last splits that I believe they can push it around any way they like. They added more than 800K shares to the post split number of less than 150K outstanding shares. I thought that they were just walking it up to let it marinade, then dump into whatever bid build that they could get. That is one expensive deal for the ransomware that PC mag pretty much evaluated as SH_T.
Wow ATDS criminals are back on their routine screw up job, it went up from below $2 to $7 and now tanking, tanked to 5s, and after hours today it lost almost $2 more, sitting at $3 now!?. Everything wrong about a Stock can be found in ATDS!..
sharestructure do not show any change?, how fkd up the price movements?.
Outstanding Shares
985,580
07/28/2022
Restricted
542,985
07/28/2022
Unrestricted
442,595
07/28/2022
Held at DTC
166,279
07/28/2022
Know when to buy and when to sell... waiting for the next cheapies. Know who to follow LOL
Really? Looks like the EKG flatlined...
Meanwhile 7 in sight here... I will put my profits from ATDS into
GRST! Fast growing otc stock
Hahahaha LMFAO.
A smart one once said:
"Don't think you are right, cause thst way you forget to see what might be the truth"
Retail got split down to 150K and Jason issues more than 800K new shares @ .01 each to himself, Centurion, and others just a few months ago. I wouldn't think that it would be hard to push the price around and we know what they are capable of. After the last split it was $10 so where it is now shouldn't have been that difficult since they control it in my opinion. For a product that was pulled from the market they paid a small fortune to Centurion for that ransomware.
I believe Jason understands better than anyone that the jig is up and may be using the up-list narrative to cash out his series "A" shares. He is just getting started because that 108K share issuance won't touch what he thinks his share of the company is worth. This NASDAQ narrative is over a year old now.
https://www.pcmag.com/reviews/data443-ransomware-recovery-manager
Data443 Ransomware Recovery Manager Review
This well-conceived tool caves to real-world ransomware
By Neil J. Rubenking Updated May 4, 2022
THE BOTTOM LINE
Data443 Ransomware Recovery Manager resets your PC to a malware-free state on every reboot, while protecting changes and edits you’ve made. Unfortunately, it failed to defend against real-world ransomware in testing.
Editors' Note: Shortly after we published this review, Data443 Ransomware Recovery Manager was pulled from the market. If it becomes available again, we will retest it and update this review accordingly.
For the quarterly period ended March 31, 2022
https://sec.report/Document/0001493152-22-014062/
NOTE 15: SUBSEQUENT EVENTS
Subsequent to March 31, 2022, the Company issued 807,663 shares of common stock as follows:
>380,952 shares to Centurion Holdings LLC as part of the acquisition (see Note 1).
>160,416 sharesissued for conversion of debt and interest.
>108,000 shares to our CEO for conversion of Series A Preferred Stock.
>46,291 shares issued under a registration statement on Form S-8, to employees and consultants for services.
>7,200 shares issued for a restricted stock award.
>4,804 shares to debt holders for commitment obligations.
Form 4 stock purchase
https://www.otcmarkets.com/filing/html?id=15751388&guid=02KwkegWbj3TB3h
Form S-8 04/27/2022
https://www.otcmarkets.com/filing/conv_pdf?id=15755599&guid=aqU-knujO0tG6Eh
Item 6. Indemnification of Directors and Officers
Our Amended and Restated Articles of Incorporation (our “Articles”), provide to the fullest extent permitted by the Nevada Revised Statutes, that our
directors or officers shall not be personally liable to us or our stockholders for damages for breach of such director’s or officer’s fiduciary duty. The effect of this provision of our Articles is to eliminate our rights and our stockholders’ rights (through stockholders’ derivative suits on behalf of our company) to recover damages against a director or officer for breach of the fiduciary duty of care as a director or officer (including breaches resulting from negligent or grossly negligent behavior), except under certain situations defined by statute. We believe that the indemnification provisions in our Articles are necessary to attract and retain qualified persons as directors and officers.
What's behind this recent move? Is there a lot of buying and big volume? TIA
Don't tell me he is getting thing in order? Mm's creating action to try and bring in action?
The issue is that they can’t and haven’t put out any press releases about any new contracts or advancements by the company in maybe 4-5 months . And that doesn’t bode well for the retail investors appeal to buy the stock . But we are about to reach the one year mark from one the company pulled their first rs which of course followed by another irrational and misleading agenda or reasoning for the second rs . The company isn’t doing themselves much good in building the shareholders equity and value , by not providing an increase or influx of the revenue growth
Hard to believe a year ago this was in the $70’s.
Chart’s not right on this site, for last year... maybe because of the RS?
Yes..exactly!, money goes to CEOs pocket!!
Money making scam
Weeeeeee tnx B
whoever and whatever they can say, this PS is a scam, not the technology or business but the people behind, making this company and stock a scheme rather than a good one.....CEO and management needs to be checked out!, show them the door!, put new team, if not honest at the least they got to fix this dilution machine and communicate with shareholders.
And Bubae has been promoting $ATDS tells the whole story...
CEO is one of the worst criminal running ponzhi scheme in the name of ATDS!..Both CEO and managements are corrupt to core running dilution before RS and dilution after RS!!, dilution always!..
folks got to see the share structure, A/S is 125,000,000??. This is after the recent R/S?
Authorized Shares
125,000,000
06/30/2022
Outstanding Shares
954,561
06/30/2022
Restricted
511,966
06/30/2022
Unrestricted
442,595
06/30/2022
Held at DTC
166,279
06/30/2022
First promoting $ATDS after the last split? It went down hard for weeks...
Now the bashing continues and $ATDS keep going up...
Making money isn't easy... LOL
For some LOL
Issuing over 800,000 new shares right after splitting retail down to less than 150,000 a couple of months back is an effort to ensure that Jason and debt holders are the primary sellers. They can hold back and if they find buyers the price can increase. Jason and the debt holders certainly do not want to hold those shares long. It also won't be enough to buy Jason out of his series "A" and the price for the Centurion ransomware. More dilution to come as always.
THE BOTTOM LINE
Data443 Ransomware Recovery Manager resets your PC to a malware-free state on every reboot, while protecting changes and edits you’ve made. Unfortunately, it failed to defend against real-world ransomware in testing.
Editors' Note: Shortly after we published this review, Data443 Ransomware Recovery Manager was pulled from the market. If it becomes available again, we will retest it and update this review accordingly.
DATA443 ANNOUNCES RANSOMWARE RECOVERY ENHANCED PRODUCT BUNDLE FOR BUSINESS
May 12, 2021 11:50 ET | Source: Data443 Risk Mitigation, Inc.
...This year, the Company released its unique and game-changing Data443 Ransomware Recovery Manager™- the only product for the enterprise that both protects sensitive data from ransomware and recovers the device on which it is operating...
For the quarterly period ended March 31, 2022
https://sec.report/Document/0001493152-22-014062/
NOTE 15: SUBSEQUENT EVENTS
Subsequent to March 31, 2022, the Company issued 807,663 shares of common stock as follows:
>380,952 shares to Centurion Holdings LLC as part of the acquisition (see Note 1).
>160,416 sharesissued for conversion of debt and interest.
>108,000 shares to our CEO for conversion of Series A Preferred Stock.
>46,291 shares issued under a registration statement on Form S-8, to employees and consultants for services.
>7,200 shares issued for a restricted stock award.
>4,804 shares to debt holders for commitment obligations.
NOTE 12: CAPITAL STOCK AND REVERSE STOCK SPLIT
On March 7, 2022, the Company filed an amendment to its Articles of Incorporation to effect a 1-for-8 reverse stock split of its issued and outstanding shares of common and preferred shares...
Common Stock
As of March 31, 2022, the Company is authorized to issue 1,000,000,000 shares of common stock with a par value of $0.001. All shares have equal voting rights, are non-assessable, and have one vote per share. The total number of shares of Company common stock issued and outstanding as of March 31, 2022 and December 31, 2021, respectively, was 148,367 and 122,044 shares, respectively.
Post split 8:1 outstanding share count as of March 31 was 148,367
as of 05/31/2022 outstanding shares was 954,561.
They update once a months so it is no telling how many more there will be.
Thnx man, I thought if HE is negative about a stock, it's time to buy...
Up 75% already today... LMFAO.
At some point the price may stabilized since they hold like 80% of the float. They might just sit and feed shares in at this level but it will take a long time to get that 800,000 new shares into the market. The OS didn't go up this month so I guess 800K shares will do them for the moment. Note to new victims,, I mean new buyers of this stock. They only update that OS figure once a month Here.
CEO is nothing but a criminal who belong in jail....
Agree, the ponzi schemer will sell more shares and continue to screw shareholders!! that is for sure..!
Unfortunately after 3 splits in less than 3 years many may only hold around 10 shares. When you split retail down to less than 150K and then issue more than 800K in new shares, the volume comes when they dump. The update the outstanding share count once a month so we should see if they added yet again shortly. What does Jason do now to qualify for that NASDAQ up-list minimum price that he has been promoting for over a year? Another split?
For the quarterly period ended March 31, 2022
https://sec.report/Document/0001493152-22-014062/
NOTE 15: SUBSEQUENT EVENTS
Subsequent to March 31, 2022, the Company issued 807,663 shares of common stock as follows:
>380,952 shares to Centurion Holdings LLC as part of the acquisition (see Note 1).
>160,416 shares issued for conversion of debt and interest.
>108,000 shares to our CEO for conversion of Series A Preferred Stock.
>46,291 shares issued under a registration statement on Form S-8, to employees and consultants for services.
>7,200 shares issued for a restricted stock award.
>4,804 shares to debt holders for commitment obligations.
NOTE 12: CAPITAL STOCK AND REVERSE STOCK SPLIT
On March 7, 2022, the Company filed an amendment to its Articles of Incorporation to effect a 1-for-8 reverse stock split of its issued and outstanding shares of common and preferred shares...
Common Stock
As of March 31, 2022, the Company is authorized to issue 1,000,000,000 shares of common stock with a par value of $0.001. All shares have equal voting rights, are non-assessable, and have one vote per share. The total number of shares of Company common stock issued and outstanding as of March 31, 2022 and December 31, 2021, respectively, was 148,367 and 122,044 shares, respectively.
Post split 8:1 outstanding share count as of March 31 was 148,367
as of 05/31/2022 outstanding shares was 954,561.
what volume 10, it will be useful to say a few things while giving up a link or reference to something?...not sure what the heck is volume 10 and from where?.. and what is about?.
the criminals at ATDS spruced it up a bit towards 1.9s and then fked it up today back to 1.5s!?. how daringly they conduct this share selling ponzi scheme and continue to con shareholders and everyone buying into this co's? bs stories.
Someone needs to do a thorough write up of this tickers history of splits, dilution, and deception - and then sticky it. I was in this stock at the very beginning. Jason is nothing short of a criminal IMO. It pains me deeply to see that he is still pulling the same nasty tricks of the trade on unsuspecting traders. The guy is the biggest POS CEO I’ve ever come across.
Unfortunately is seems that there are always a new round of new traders who are very unaware of the history or just consider it just that, history. I for one want to keep reminding traders of the current share selling scheme in progress. not history, happening every day, right now.
well...thats exactly traders did already so far since the latest R/S!...shoved it hard up into his a..!
I hope traders tell him to shove it up his...
Jason Remillard has refined his methods over several years and several reverse splits now. But this latest move is his most brazen to date in my opinion. Issuing over 800, 000 new shares right after splitting retail down to less than 150,000 is an effort to ensure that he and debt holders are the primary sellers. The problem this time is that they are having to take it down once again to find buyers none the less. Keep in mind that this company only updates its outstanding share count once a month so keep an eye on that figure at the end of the month. Jason has gone absolutely bat sh_T crazy printing new shares. I hope traders tell him to shove it up his...
Out of many ponzi Schemer CEOs, ATDS and RNVA CEOs must go to jail first, to change the OTC penny stock platform!....these two criminals are some of the worst...!.
Sure is looking that way
Jason or whoever that as...h must be put in jail for criminal, fradulant stock selling scheme, a Ponzhi schemer!..
So they have been using this ransomware for over a year now and their gross profit for Q1 was much lower than Q1 2021 and lower than even Q1 2020. How can they justify a $3.4 million price tag for what PC mag says failed against real-world ransomware testing? I would like to know why they would pull the product from the market after shortly after the published article. As of Q1 the deal still hadn't closed. Has Jason finally screwed himself this time? Gotta love that!
THE BOTTOM LINE
Data443 Ransomware Recovery Manager resets your PC to a malware-free state on every reboot, while protecting changes and edits you’ve made. Unfortunately, it failed to defend against real-world ransomware in testing.
Editors' Note: Shortly after we published this review, Data443 Ransomware Recovery Manager was pulled from the market. If it becomes available again, we will retest it and update this review accordingly.
DATA443 ANNOUNCES RANSOMWARE RECOVERY ENHANCED PRODUCT BUNDLE FOR BUSINESS
May 12, 2021 11:50 ET | Source: Data443 Risk Mitigation, Inc.
...This year, the Company released its unique and game-changing Data443 Ransomware Recovery Manager™- the only product for the enterprise that both protects sensitive data from ransomware and recovers the device on which it is operating...
There are those even now who say that past shareholders got seriously screwed but things have changed and it is a new game. The current ongoing situation is even worse than the past. He has issued over 800,000 new shares shortly after the split that resulted in only 148,000 outstanding. Could it be possible that he thought that he could run it run back to a million outstanding without many noticing? Maybe some didn't even realize that it split since he did it in such a sneaky and very quick way. Jason, Centurion, and the other debt holders will not want to hold those share long in my opinion. That however is an enormous amount to unload.
Their gross profit for Q1 this year is much less than Q1 2021 and even less than Q1 2020. Yet there are those who claim that t his company is growing fast. I believe Jason is trying to cash out under the guise of corporate governance for the up-list. He has been using up-list for a year now and the price once again has fallen well below that needed to qualify. Can't make this stuff up.
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New $300k toxic note courtesy of maxim
Latest 10-Q observation
NOTE 3: LIQUIDITY AND GOING CONCERN
The accompanying consolidated financial statements have been prepared (i) in accordance with accounting principles generally accepted in the United States, and (ii) assuming that the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. After a period of no income, the Company has recently generated increasing income. However, the Company is subject to the risks and uncertainties associated with a business with growing revenue, as well as limitations on its operating capital resources. These matters, among others, raise substantial doubt about the ability of the Company to continue as a going concern. These consolidated financial statements do not include any adjustments to the amounts and classification of assets and liabilities that may be necessary should the Company be unable to continue as a going concern. In light of these matters, the Company’s ability to continue as a going concern is dependent upon the Company’s ability to raise capital and generate revenue and profits in the future.
Summary
Data443 Rik Mitigation (ATDS: OTC) is a solid and fast-growing cyber security company that has seen its shares falling from $1.09 in the past 12 months to 1 cent within the past week. The company has been growing, but convertible note holders have been liquidating without regard to price and have consequently created an extremely undervalued opportunity for investors.
Adds Sophisticated Content Analysis and Intelligent Content Migration Capabilities to Growing Software-as-a-Service (SaaS) Portfolio
RESEARCH TRIANGLE PARK, NC, Aug. 20, 2020 (GLOBE NEWSWIRE) -- Data443 Risk Mitigation, Inc. (“Data443” or the “Company”) (OTCPK: ATDS), a leading data security and privacy software company, is pleased to announce that it has acquired the intellectual property rights and assets of FileFacets®, a Software-as-a-Service (SaaS) platform that performs sophisticated data discovery and content search of structured and unstructured data within corporate networks, servers, content management systems, email, desktops and laptops.
The acquisition has closed, and all assets have been transferred. Terms of the transaction were not disclosed.
8K Filing August 21st 2020
On August 17, 2020, following receipt of written approval from stockholders acting without a meeting and holding at least the minimum number of votes that would be necessary to authorize or take such action at a meeting, Data443 Risk Mitigation, Inc. (the “Company”) filed a Certificate of Amendment to the Articles of Incorporation with the Secretary of State of the State of Nevada to increase the number of authorized shares of common stock from 750,000,000 to 1,500,000,000, effective August 17, 2020. The Certificate of Amendment is attached to this Current Report as Exhibit 3.1. All descriptions of the Certificate of Amendment herein are qualified in their entirety to the text of Exhibit 3.1 hereto, which is incorporated herein by reference.
On August 17, 2020, the holders of 86% of the issued and outstanding shares of stock of the Company entitled to vote took action by their written consent and without a meeting, pursuant to Nevada Revised Statute 78.320. The number of shares entitled to vote was deemed to be 2,620,701,789, representing the total number of issued and outstanding shares of (i) common stock; and, (ii) Series A Preferred Stock converted into common stock for purposes of voting. The Certificate of Amendment to the Company’s Articles of Incorporation to increase the number of authorized shares of common stock from 750,000,000 to 1,500,000,000 was approved. 2,250,000,000 shares were voted in favor of the Amendment, and such stockholders signed a written consent taking such action without a meeting or involvement of the Company. The written consent was delivered to the Company on August 17, 2020. | SUBJECT TO |
Rapidly combining some of the best DRM, eDiscovery, Classification, Identity Governance and DLP technologies into a solution positioned for Privacy and Compliance activities – across virtually any data source and device. The only provider to offer a full GDPR/CCPA request management platform, and an open sourced platform that has over 10,000 active installations.
The ARALOC Boardroom by Data443™ Content Distribution and Board Management System provides custom configured and branded native apps to streamline your corporate board governance and security guidelines. The only product on the market that features an array of user-friendly board content publishing and distribution automation controls, Boardroom requires minimal training and support. Using THE ARALOC Content Library, board members can use dedicated apps to view board materials from their mobile or desktop devices online or offline. With industry-leading fully enabled Rich Media Support, members are able to upload and encrypt all file formats for distribution. System notifications and automatic synchronization ensure board members always have the most recent board content materials. Multi-level views allow multiple boards to be houses and controlled from one central location.
GDPR Compliance
The GDPR Framework WordPress Plugin by Data443 allows for an easy, fast and cost-effective compliance solution for the GDPR. Achieve a fast time-to-value with 12 GDPR articles being met straight out-of-the-box. In a few clicks you can handle DSARs, consent, report and many other GDPR requirements. We are developer-friendly. Everything can be extended; every feature and template can be overridden. We are excited to announce we just hit 100k downloads and 10k active installations.
CCPA Compliance
Data443 ClassiDocs™ allows for an easy, fast and cost-effective compliance solution for the new CCPA. Achieve a fast time-to-value with the five key requirements of CCPA being met straight out-of-the-box. Data443 ClassiDocs™ supports over 200 file types and 400 databases while integrating with your existing DLP/CASB/SIEM/Cloud Solutions. Data443 ClassiDocs™ is the solution for classification, governance, and discovery across all data sources.
ClassiDocs™ takes the effort out of classifying your data by applying the same rules, technology, machine learning, and ongoing classification stewardship throughout the organization. This ensures always-accurate, continually relevant data security for your whole IT estate. ClassiDocs™ is purposefully user-centric to increase adoption and adherence with no training. Ease-of-use control with minimal interruptions and your-company-specific branding allows users to engage quickly and make fewer mistakes. Administration is simple via an easy-to-understand, centralized control panel that delivers both preset and customizable analytics.
RESEARCH TRIANGLE PARK, NC, July 29, 2020 – Data443 Risk Mitigation, Inc. (“Data443” or the “Company”) (OTCPK: ATDS), a leading data security and privacy software company, today announced that it has appointed Mr. Omkhar Arasaratnam, a 20-year expert in information technology and leadership in global cybersecurity projects to its Advisory Board effective immediately.
Mr. Arasaratnam currently serves as Director of Engineering, Assurant Security for Google LLC, and is a Senior Fellow with the NYU Center for Cybersecurity at the NYU Tandon School of Engineering, and a member of the NYU Cyber Fellow Advisory Council. Previously, Mr. Arasaratnam served as Executive Director of Data Project Engineering at JPMorgan Chase, and has previously led security organizations at financial and technology institutions, such as Credit Suisse, Deutsche Bank, TD Bank Group, and IBM. In this capacity, he has revolutionized the effectiveness of cybersecurity controls. He is an accomplished author with several granted patents and has led contributions to many international standards.
DATA443 RISK MITIGATION PROVIDES BUSINESS UPDATE
RESEARCH TRIANGLE PARK, NORTH CAROLINA – (July 13, 2020) – Data443 Risk Mitigation, Inc. (“Data443” or the “Company”) (OTCPK: ATDS), a leading data security and privacy software company, today provided updates on its current business and financing arrangements:
Completed Payments to Modevity, LLC for the ARALOC™ platform, the Secure Private Data Storage, Protection, and enablement platform
As previously disclosed, on October 22, 2018, Data443 acquired all technology, sales assets, and customers of Modevity’s enterprise cloud-based data storage, protection, and workflow automation platform, ARALOC™. ARALOC continues to lead the industry with Digital Rights Management, Secure Content Distribution and nearly instant large organization implementation. Data443 continues to innovate with the product and will have forthcoming product and customer announcements in the near term. Additionally, Data443 has now remitted to Modevity all amounts due under the purchase transaction (over $1.2MM USD) and owes no further amounts or any other consideration to Modevity.
Reached Shareholder-Friendly Forbearance Agreements for Outstanding Convertible Notes
Effective July 1, 2020, Data443 entered into privately negotiated agreements with a number of existing holders of the company’s outstanding convertible notes, which is intended to reduce short-term debt obligations of the company, while also deferring a significant amount of debt which otherwise could have been converted into common stock. The revised terms of these existing convertible notes can be found in the Form 8-K that was filed by the Company on July 10, 2020, which can be accessed at:
https://www.sec.gov/Archives/edgar/data/1068689/000149315220013083/form8-k.htm
Data443 Risk Mitigation, Inc. (OTCPK: ATDS), a leading data security and privacy software company, announced today that it has completed its corporate actions with FINRA and began trading today with its new symbol – ATDS: All Things Data Security™.
Key Takeaways:
Over only the past two years, the company has combined the technology, people and revenue assets of 5 product lines to form one of the fastest growing data privacy organization on the market. These products on their own are market leaders in individual segments of the data security, compliance and governance marketplace.
Jason Remillard, Founder and CEO of Data443 stated, “The wide operating platform we have built has two main purposes – provide a foundation for operating revenues for the company and provide a supporting platform for our forthcoming privacy enablement platforms. We have more announcements coming in both areas in the near term – I am proud of the work of the whole team bringing this all together with all of our constraints – it is a considerable accomplishment!”
Data443 Risk Mitigation, Inc. (OTCPK: LDSRD), a leading data security and privacy software company, today reported operating results for the three and nine months ended September 30, 2019, including net revenue of $628,000 for the quarter, and strong billings growth quarter over quarter. Net billings represent actual sales which include revenues to be deferred over the term of the contract periods.
Jason Remillard, CEO of Data443, commented, “We delivered strong third quarter and nine-month results and continue to make solid progress towards achieving our long-term goals in delivering a complete data privacy, security and governance ecosystem that is unique and unrivaled in the marketplace. I’m very pleased with the seamless integration of DataExpressTM into the Company, along with achieving a significant customer renewal, and more to come! There’s no question that the last several months have been challenging in terms of our recent corporate actions, but I’m very proud of our team for keeping focused on the tasks at hand.”
“As we look towards the end of 2019, we expect to end the year at a very active pace, both commercially, as well as at the corporate level. As of today, we are less than two months away from the California Consumer Privacy Act (CCPA) taking effect, the first significant data consent and privacy legislation in the United States, perhaps the most comprehensive regulations since GDPR. Many companies don’t understand that preparations need to be made now, before the regulation (and enforcement) goes into effect on January 1, 2020. This poses an incredible opportunity to drive home the importance of mitigating these compliance risks, positioning our sales staff to deliver more education and demos, with the goal of increasing our already growing customer base.
LandStar, Inc. (OTCPK: LDSR) (“LandStar” or the “Company”), the parent company of Data443 Risk Mitigation, Inc. (“Data443”), a leading data security and privacy software company, today announced another major client win within its DataExpress™ NonStop (DXNS) Secure Managed File Transfer Service. The customer is a leading global payments technology company that operates in over 200 countries and territories worldwide.
The customer approached Data443 with the following key business challenges:
LandStar, Inc. (OTCPK: LDSR) (“LandStar” or the “Company”), the parent company of Data443 Risk Mitigation, Inc. (“Data443”), a leading data security and privacy software company, today announced it has completed the acquisition of DataExpress™, one of the world’s leading vendors for secure sensitive data transfer for hybrid cloud.
Key Takeaways:
LandStar, Inc. (OTCPK: LDSR) (“LandStar” or the “Company”), the parent company of Data443 Risk Mitigation, Inc. (“Data443”), a leading data security and privacy software company, today announced continued momentum in its product line with the addition of high-profile new data sources to enable in CCPA, GDPR, eDiscovery, archiving and data retention requirements.
The growing platform list of integrations include support for leading social media channels such as Twitter, Facebook, Instagram and LinkedIn. These platforms are rife with potential privacy information and have a large part to play in any litigation response.
Within ArcMail’s recently released Hybrid Cloud/On-Premise Software Subscription service, customers are enabled to search faster, store smarter, and protect better in light of increasing data privacy and compliance requirements. For highly-regulated industries like education, financial services, and government, ArcMail’s Hybrid Cloud/On-Premise Software Subscription service allows the organization to leverage a subscription-based service for full and continuous coverage, while reducing IT burden and spend.
TheAccessHub™ accelerates Identity Governance time-to-value by more than 2,600 percent
LandStar, Inc. (OTCPK: LDSR) (“LandStar” or the “Company”), the parent company of Data443™ Risk Mitigation, Inc. (“Data443”), a leading data security and privacy company, and N8 Identity, Inc. the leader in agile, cloud-based identity governance solutions, today announced a major client win following a three-month pilot.
The new client, a global NYC-based 1.4B market cap NYSE-traded organization, approached Data443 and N8 Identity with the following key business challenges...
LandStar, Inc. (OTCPK: LDSR) (“LandStar” or the “Company”), the parent company of Data443™ Risk Mitigation, Inc. (“Data443”), a leading data security and privacy company, today announced the completion of joint efforts with finance partners resulting in the favorable new terms on existing debt. Additionally, the Company has received notice of final conversion of the $125,000 legacy convertible note issued by the Company in 2014 and subsequently acquired by Blue Citi LLC (“Blue Citi”).
Effective June 19, 2019 the Company and three existing note holders have agreed as follows:
LandStar, Inc. (OTCPK: LDSR) (“LandStar” or the “Company”), the parent company of Data443™ Risk Mitigation, Inc. (“Data443”), a leading data security and privacy company, announced today that it has received notice from the Securities and Exchange Commission (the “SEC”) that the SEC has completed its review of the Form 10 Registration Statement as filed with the SEC on January 11, 2019; and, amended on April 24, 2019. The Form 10 was effective as of March 12, 2019. The completion of review by the SEC further confirms the Company’s commitment to being subject to the reporting requirements of the SEC, and specifically of the Exchange Act of 1934, as amended. While the Company has already filed an Annual Report on Form 10-K and five (5) periodic reports on Form 8-K since the filing of the Form 10, the Company will not be required to file any further amendments to the Form 10.
Jason Remillard, Chief Executive Officer of the Company and founder of Data443, said, “The completion of the review of our Form 10 by the SEC is yet another milestone achieved in our continued growth. We view it as a validation of our reporting process and financial management, which continues to evolve. Similar to when the Form 10 went effective back in March, this also underscores our commitment to provide our investors with transparency and accountability.”
“We are excited to bring Mr. Dawson onto the Data443 team to help us achieve our growth goals and support both our investor and client communities,” said Jason Remillard, founder and CEO of Data443. “His expertise will make an immediate and long-term impact on our business and we are especially enthusiastic about his ability to build and manage finance and accounting practices within complex, highly-regulated industries.”
LandStar, Inc. (OTCPK: LDSR) (“LandStar” or the “Company”), the parent company of Data443™ Risk Mitigation, Inc. (“Data443”), a leading data security and privacy software company, today filed its Form 10-K with the U.S. Securities and Exchange Commission (the “SEC”) to disclose its financial results for the fourth quarter and fiscal year ended December 31, 2018.
Key Takeaways:
Management Commentary:
Jason Remillard, Founder of Data443 and CEO of LandStar, commented, “2018 was much more than a transitional year for LandStar; it was a major foundational year in which we established the platform that the Company is being built upon. I’m excited to say that we are now at the point where we can accelerate the pace of our planned corporate actions, as well as continue on our product development and acquisition roadmap.”
“These results only validate what has been our growth strategy all along; to acquire highly successful companies with complementary technologies and skill-sets that can easily fit and rapidly enhance our market positioning, provide a healthy customer base, and that are accretive to our bottom-line. I’m happy to report our initial revenues, and look forward to subsequent quarterly reports, when the full-quarter’s contribution of revenues from our acquired businesses will be reflected in our financial statements.”
LandStar, Inc. (OTCPK: LDSR) (“LandStar” or the “Company”), the parent company of Data443™ Risk Mitigation, Inc. (“Data443”), a leading data security and privacy company, announced that it is has launched its online ordering platform for the ARALOC™ Board Management product.
Jason Remillard, Chief Executive Officer of LandStar and founder of Data443™, commented, “As we continue our marketing campaigns, the ability to order and provision online is an important step in the customer buying journey. Our trial and buy portal has been long planned and we are pleased to offer several different editions of the leading ARALOC Board Management Software platform. We will introduce more purchase options for the ARALOC platform and the rest of our product catalogue over the near Our existing stockholders may experience significant dilution from the sale of our common stock pursuant to the Financing Agreement.
The sale of our common stock to PAG Group, LLC in accordance with the Financing Agreement may have a dilutive impact on our stockholders. As a result, the market price of our common stock could decline. In addition, the lower our stock price is at the time we exercise our put options, the more shares of our common stock we will have to issue to PAG in order to exercise a put under the Financing Agreement. If our stock price decreases, then our existing stockholders would experience greater dilution for any given dollar amount raised through the offering.
The perceived risk of dilution may cause our stockholders to sell their shares, which may cause a decline in the price of our common stock. Moreover, the perceived risk of dilution and the resulting downward pressure on our stock price could encourage investors to engage in short sales of our common stock. By increasing the number of shares offered for sale, material amounts of short selling could further contribute to progressive price declines in our common stock.
PAG Group, LLC will pay less than the then-prevailing market price of our common stock, which could cause the price of our common stock to decline.
Our common stock to be issued under the Financing Agreement will be purchased at a ten percent (10%) discount, or ninety percent (90%) of the lowest closing price for our common stock during the ten (10) consecutive trading days immediately preceding the date on which we issue a Put Notice to PAG (as provided for in the Financing Agreement).
PAG has a financial incentive to sell our shares immediately upon receiving them to realize the profit between the discounted price and the market price. If PAG sells our shares, the price of our common stock may decrease. If our stock price decreases, PAG may have further incentive to sell such shares. Accordingly, the discounted sales price in the Financing Agreement may cause the price of our common stock to decline.
We may not have access to the full amount under the Financing Agreement.
The lowest closing price of our common stock during the ten (10) consecutive trading day period immediately preceding the filing of this Registration Statement was approximately $0.26. At that price we would be able to sell shares to PAG under the Financing Agreement at the discounted price of $0.234. At that discounted price, the 4,046,995 shares would only represent $946,997, which is far below the full amount of the Financing Agreement.
"Data443 has joined forces with Business Partner Solutions, Inc. (BPS), a U.S.-based security focused value-added reseller (VAR). Founded in 2005, BPS is a certified CPUC and Woman Owned and Operated enterprise, a proven go-to for security VAR focused on providing emerging but proven security and compliance solutions to its customers. These clients include many Fortune 500 companies, public utilities, healthcare and retail. The partnership expands U.S. market coverage for Data443’s growing portfolio of products and aligns the company with a leading reseller that has specific expertise in data security, privacy compliance, and risk mitigation."
Data443, a leading data security and privacy company, announced today the completion of the audit of its Consolidated Annual Financial Statements for the fiscal years ending December 31, 2016 & 2017. An independent auditor (which is a PCAOB registered accounting firm) completed two consecutive years of the audits of the Company’s financial statements within the guidelines of Generally Accepted Accounting Principles (GAAP). The results will be filed without delay with OTC Markets as an amendment to the Company’s previously filed financials for its year ending December 31, 2017.
https://www.data443.com/pr-n8-letter-of-intent/
Recorded audio of the session can be accessed here:
https://www.data443.com/investor-faq/
Data443/ClassicDocs Competitive Review
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Data443 Secures Global Rights to Leading WordPress GDPR Solution
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"My colleagues and I are amazed at the functionality of this plugin. We researched many solutions to adding GDRP compliance to our client’s sites and your FREE plugin was the best. The documentation you include was essential to our understanding of GDRP.
We were also impressed at how fast the support team responded with fix a recent glitch with a new feature."
"This plugin cuts the time it takes to understand the new guidelines in half! So easy to use, everyone should be using it."
"Very happy with this plugin. There is attention to detail and it works well for visitors wanting to download the data we have. Very much hope they add the cookie policy part soon so we can have everything just under this one plugin. Big thanks and appreciation to the developers "
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