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Seriously, Topeka? That's where I was raised. Went to THS. T-town tennis hall of fame, anyone? From what part of town do you hale, HH?
You mean this response, Sy?
As we all know, Jason owns preferred shares.
"As of December 31, 2019, the Company is authorized to issue 337,500 shares of preferred stock with a par value of $0.001, of which 337,500 shares have been designated as Series A. As of December 31, 2019 and 2018, 1,334 shares of Series A were issued and outstanding, and each share of Series A was (i) convertible into 1,000 shares of common stock, and (ii) entitled to vote 15,000 shares of common stock on all matters submitted to a vote by shareholders voting common stock. All issued and outstanding shares of Series A Preferred Stock are held by Mr. Jason Remillard, (“Mr. Remillard”) sole director of the Company."
Interesting thing to note about Series A stock is this: Series A Preferred Stock is the first round of stock offered during the seed or early stage round by a portfolio company to the venture capitalist. Series A preferred stock is convertible into common stock in certain cases such as an IPO or the sale of the company. Later rounds of preferred stock in a private company are called Series B, Series C and so on.
http://www.fundingpost.com/glossary/series-a-preferred-stock.asp
So this is the statement in the 10k that is in error...
"On April 01, 2020, the Company issued 4,666 shares of its common stock to its president/chief executive officer, Jason Remillard, as additional compensation."
It was an issuance of more Series A Preferred shares as is indicated on page 61. Includes (i) 6,000,000 shares which would be issued to Mr. Remillard upon conversion of his Series A Preferred Stock. Jason held 1334 preferred shares on Dec 31, 2019. Adding the 4,666 shares to the 1334 he already held is what gives him 6000 preferred shares. Times that by 1000-1 common and it gets you the 6,000,000 shares they are referencing in the statement of ownership.
Small error but one that is tangible none the less.
Jason also appears to be staying ahead of the voting rights curve by issuing himself more Series A.
6000 Series A's give him 6000 X 15,000 voting rights. So that equates to 90 million common share votes. For the time being, that will still suffice to hold off a hostile takeover. Yes there is 250 million authorized and he could more than likely issue more preferred if he dilutes this heavily. But i found it interesting that he didn't just issue more preferred to get him over the 250 million authorized.
You're welcome.... Next time you guys laugh at the DD I provide, I might not be so forthcoming. Hope you found this to be enlightening and that it clears up your confusion.
I'm off to do other things while you guys vent about these revelations and how it will sink this even further!
Keep those course readings coming, Captain TROW. I have a sense that a few like BB keep hanging around here may regret being deserters. Why are they still here? Could have left a lot of money on the table? Might want to jump back in? No, they don't care, since they make a million dollars per year. Right. Egos and $$$$ at stake here. Somebody will never get over being personally dissed by JR.
I will go down with the ship, Captain. Not much to lose at this point. Anybody selling at anywhere near these levels makes absolutely no sense to me. Giving the money to charity makes them feel righteous? Ok. I will give to charity regardless.
Being "in" includes bankruptcy? Hmmm...
POS or PPS? :)
RALEIGH, N.C., April 20, 2020 – Data443 Risk Mitigation, Inc. (OTCPK: ATDS), a leading data security and privacy software company, today announced operating results for the year ended December 31, 2019:
Recent Business Highlights:
Launched Global Privacy Manager™ the industry’s only end-to-end privacy compliance, governance and consumer loss-mitigation platform
Executed letter of intent to acquire the assets and customer base of Internet Software Sciences with over 100,000 installations and over 1 million end users worldwide from corporations, educational institutions, non-profits and government agencies
Announced series of transactions with convertible note holders to reduce short-term debt and potential dilution to shareholders
Completed the cancellation of 2,000,000 common shares as part of a previous litigation settlement
Business Highlights for the Fourth Quarter of 2019:
Announced major client win - a leading global payments technology company that operates in over 200 countries and territories worldwide, within DataExpress™ NonStop (DXNS) Secure Managed File Transfer Service
Completed the acquisition of DataExpress™, one of the world’s leading vendors for secure sensitive data transfer for the hybrid cloud
Completed a series of significant corporate milestones, including formal name change to “Data443 Risk Mitigation,” ticker change to “ATDS,” and reverse stock split
Management Commentary:
Jason Remillard, CEO of Data443, commented, “2019 is in the books as a watershed year for the company. We delivered strong results that were on target and to our forecasts. We continue to make solid progress toward achieving our long-term goals in delivering a complete data privacy, security and governance ecosystem that is unique and unrivaled in the marketplace. Our product portfolio continues to deliver value to the marketplace and provide diversified revenue streams for the company – especially valuable particularly at these challenging times. Continued high margin-based product lines are contributing to our growing bottom line. 2019 represents these roll up businesses reporting only approximately 1.5 and 2.75 quarters contributing for the fiscal – thus enabling for significant expected contributions for 2020.”
“We have made great strides in executing on our vision for success, to position Data443 as a leading provider of data privacy and security services that meet the growing challenges faced by organizations in highly regulated, risk and compliance-intensive markets. We’ve acquired long-standing businesses with high quality intellectual property and talent, producing monthly recurring revenue with very strong renewal rates. We’ve successfully integrated these businesses within Data443, providing our clients with a growing portfolio of services at their disposal.
“In the current COVID-19 environment, we are fortunate that our services continue to be used by a diverse group of customers whose businesses are continuing to operate, with several considered to be an essential service. We are highly engaged with our customers helping them to navigate the new challenges they are facing, continuing to fully service their needs during these difficult times. Our employees remain fully engaged, and we believe our business continuity plan is working well.
“We are the only organization in the marketplace that provides the effective end to end solution for privacy compliance management. Our most recent launch of the Global Privacy Manager™ back ended by the leading ClassiDocs™ product is indicative of the end to end solution – providing a privacy management solution for clients of all sizes, in all locations with clients of all types. Our mission is to provide capabilities for all of these customers and enable them immediately at prices and onboarding times that are consumable and relevant to their needs. As the California AG has reiterated as recently as last week – the CCPA will be enforced with rigor starting July 2020 and we look forward to helping our customers through these trying times.”
"In conclusion, I want to thank our loyal employees, customers and shareholders for your continued support. Much like many other microcap companies, our stock price today clearly doesn’t represent what I believe to be the underlying value of Data443. We continue to improve execution, drive additional revenue and close acquisitions that are accretive and fit within our unique framework,” concluded Mr. Remillard.
Fiscal Year 2019 Financial Results:
Total revenues were $1,453,000 during the year ended December 31, 2019, compared to $29,000 of revenue for the year ended December 31, 2018. Total deferred revenues were $729,000 as of December 31, 2019, compared with $29,000 as of December 31, 2018.
General and administrative expenses for the year ended December 31, 2019 were $4,797,000, compared to $1,068,000 for the year ended December 31, 2018, an increase of $3,729,000. The increase in general and administrative expense was primarily due to an increase in amortization of intangible assets, payroll expense, professional fees, and other expenses related to SEC reporting, including the re-classification of sales-related management expenses, in connection with the projected growth of the Company’s business. The Company became a fully-reporting company with the SEC in March 2019.
The net loss for the year ended December 31, 2019 was $607,000 as compared to a loss of $15,091,000 for the year ended December 31, 2018. The net loss for the year ended December 31, 2019 was mainly derived from an operating loss of $5,270,386, due in part by increased general and administrative costs and reduced by other net income of $3,326,708, which was mainly from a gain on change in fair value of derivative liability. The net loss for the year ended December 31, 2018 was mainly derived from a loss on change in fair value of derivative liability of $13,271,308 associated with convertible notes payable and an operating loss of $2,201,253.
Liquidity
As of December 31, 2019, we had cash in the amount of $19,000 and other current assets in the amount of $73,000, compared to cash in the amount of $325,000, and other current assets in the amount of $1,500 as of December 31, 2018.
I have grown to love the word TRIPS. Sell high buy more low. Thanks for the word, Devil. Sweet.
I second that. Big help as always, TROW. Just because the naysayers may outpost us longs 4:1 or more, we longs wish we could simply give you a Thumbs Up. I'm sure there are a lot of us who appreciate your insights. Maybe even some of those who lurk around here who may wish they hadn't sold. I get a kick out of how smug they are to kick Jason around by the hour or how busy they claim to be making their millions, but they post here regularly. HA!
Today sure gives us indications of how explosive the trading can be on this "pissant" stock. Look out, if/when Jason pulls it off.
No politics please. Newsome is a communist.
Yep. I sold some for $1 and more down to .90 and then again at .75. Then purchased a bunch more in the 50s. With the new ticker symbol it opened at $1 and change.
"can’t wait for the financials that will surely finish this off."
Why do you want this finished off? Why is that so important that you "can't wait?"
137,365 shares for .0961 at 16:19
No doubt you can't always count on Level 2 as a representation of Bids and Asks (albeit sometimes it is transparent). I just wondered if others are seeing the same numbers I am. I have seen the same kind of wackiness on other exchanges. Market makers do what they do.
Thanks. So we finally get a small sell (9,500) at the Bid and we start going down. Weird action.
Level 2 question for those of you looking. How many shares are you seeing on the Ask for .10? Mine shows 5,000 and yet we have seen 10s of thousands of buys at .10 and no upward movement of the Ask.
Good one, ATDS! Makes as much sense as anything I've considered about some of these posters. They are an enigma to me every day.
That's quite an effort, Wayne.
TROW, please copy me if you would please.
HeyWoody take a break? That'll be the day. He has to talk this thing down 24/7 so he can load the boat.
When 70k on the Bid suddenly showed up, The Thumb on the Ask just kind of ffffaded away. Sign of times to come.
Yes, The Thumb has been lifted for now. Low float. This thing could easily fly high and fast someday. So far, looks to be breaking some trend lines today. That would be such a welcome relief. Is the worm turning?
Sturgis, please clarify. OTCQB is next or Nasdaq/NYSE in your opinion?
Can't beat TROW's logic. EOM
Sure is. No denying the price is being forced lower by large Asks. When will it end? Who knows. We did break those support levels I mentioned earlier. It was a battle, but the support trend line was broken on the Daily Chart. We'll see on Friday if the Weekly support trend line holds.
Just when it seems to be over, The Thumb rears its ugly head again. The good news is, there are indications that when it does end, this thing will fly upward.
Good for you, WIC. Hanging around the same beaches I go to, although I am not a surfer. I live up La Costa Ave. near Rancho Santa Fe Rd. Be great to hook up some time, for sure. How about we wait for a little ATDS celebration? Hopefully, a few days or weeks...
I used to be a day trader. Started in 1998 and was recognized so by the IRS in all my reporting through a CPA. Now I go Long (very Long, if necessary) and trade considerable shares at highs, so I can accumulate more at lower prices.
Charts are my tools and I appreciate fellow Longs' input on this and other boards. Because I now trade out of Roth IRA accounts, I pay zero taxes on gains, so wash re-purchases are not a concern. My trades have been free of any fees by Schwab for almost 3 years. Its a fun and inexpensive game for me in retirement.
I have an exit plan for my ATDS shares, and I am patiently Long.
Living in Carlsbad, CA and hope to meet you someday, WIC. Love your attitude on life.
PS Chart Wise, Wayne, we are on the 200 day moving average on the Daily and the 50 day moving average on the Weekly. Both significant and happens to be simultaneous. Might we go lower? Of course. Fine with me, although I am hoping for The Thumb to depart.
Thanks, WIC. I just try to check in once in a while as a poster, but you guys do a great job regularly. It's a big help to hear from you and the other Thick and Thin Longs. Been a long road and it will be great to get to glory land. Maybe, just maybe, even BB will be willing to say he's sure glad he stayed with it!
Chart wise, we are sitting right at major support on both the weekly and daily charts. The Thumb kept pushing the price down all of last week and the recent weeks as well. All you have to do is watch the Bid and Ask. The Thumb puts 25k or more on the Ask to get the price to drop on small Bids. Then down we go and then the Thumb does it again and then again.
Manipulation? Call it whatever you want. I bought a chunk in the teens just like I did last time it dipped down there. Since I sold in the 70s and bought cheaper and then did the same in the 30s, I have more than doubled my position.
Jason is undaunted (latest Linkedin post) and true Longs are as well. Getting close to finding out how it will all come together.
Interesting stuff, Sturgis. Thank you and to TROW as well. Great posts clarifying why the companies Jason bought are patiently waiting for glory days. They didn't sell their babies for ATDS shares without a damn good reason. No way.
Gap closed. eom.
The fish will latch on, BD. You'll see. We have a small float and this is the real deal.
I wouldn't mine for others, if I were you. You'll just waste a $100. :)
Love that quote, WIC. Keep up your great work on this board. The worm is turning!
Geez, calm down, AI. Check one page back. Post 94977 spells out the announcement today. Well before today's run.
Chill out! Have a glass of wine. No more tips for you on what's coming based on the charts.
SEC violation---are you loony???
Where ya' been, AI? Scroll down a page or so and see that we all knew about the court case being resolved and the shares deleting. Old news.
Hang on. We have a gap to close, so you can still grab some at .50.
Yep.
Kevin McCarthy,GOP Leader,Your data should be yours.
The ubiquity of tech in our lives makes consumer privacy a defining issue we must get right in 2020. Patchwork state laws like California’s will hurt consumers. Instead Congress should pass a federal standard—See it. Control it. Delete it.
2 million shares gone. Poof! 1.5 billion divided by 750. Can we just see the positive here? What matters is the long run and the value of this company.
Christmas Eve announcement does not matter. You nailed it, PerdonMe when you said MERRY CHRISTMAS. There's something wrong with people who just refuse to see the positive. They need to do some soul searching.
Note: The crooked lawyer ate $hit.
Excellent. Thanks, PerdonMe.
It sucks to be David Sayid. Quintessential crooked lawyer.
Wow. Sweet dreams. Thanks, TROW.
Boom. Showing some life after a good day yesterday. Good volume yesterday and an inverted hammer indicating a change in trend. BTW, we again closed a gap on the daily chart the other day. Could we be onward and upward?
Just a matter of time. Perhaps, like a thief in the night.