Data443 Risk Mitigation Inc (ATDS)

[Dr PennyStock]

This was all renegotiated, and now they convert at 85% discount. He is almost giving the shares for free LOL.

One of the notes from BC passed from around $830,000 to $1,083,500. About $253k only to postpone the dilution to 2020. The interest also jumped from 8% to 12% per annum.

Read the last filings. It's all there.

3. The Company and BLUE CITI LLC (“ Blue Citi ”) entered into an Amendment and Forbearance Agreement (the “ Blue Citi Agreement ”). The Company had previously issued to Blue Citi that certain Consolidated Note in the original principal amount of Eight Hundred Twenty Nine Thousand Six Hundred Eighty Dollars ($829,680) on 30 September 2018, with a maturity date of 31 March 2020 (the “ Blue Citi Note ”). Under the Blue Citi Agreement, Blue Citi agreed to forbear from enforcing its rights under the Blue Citi Note with regard certain possible events of default under the Blue Citi Note, and the Company and Blue Citi further agreed to amend the Blue Citi Note as follows:


a. Blue Citi can convert the Blue Citi Note into shares of the Company’s common stock only upon the earlier of (i) 31 March 2020; or, (ii) any event of default under the Blue Citi Note.

b. As of 19 June 2019, the principal face amount of the Blue Citi Note was increased to One Million Eighty Three Thousand Five Hundred Dollars ($1,083,500).

c. As of 19 June 2019, the interest rate under the Blue Citi Note was increased to twelve percent (12%) per annum.

d. The conversion price under the Blue Citi Note shall be equal to eighty five percent (85%) of the lesser of the lowest trading price of the Company’s common stock for (i) the 20-days immediately preceding the 19 June 2019; or, (ii) the 20-days immediately preceding the date of conversion.

e. As soon as practicable, though not more than 30-days after 19 June 2019, the Company shall reserve one billion three hundred million (1,300,000,000) shares of its common stock for conversion under the Note. No later than 90-days after 19 June 2019, the Company shall increase that reserve so as to fully comply with the terms of the Blue Citi Note for the reservation of shares for conversion under the Blue Citi Note.

Source: https://ih.advfn.com/stock-market/USOTC/landstar-inc-pc-LDSR/stock-news/80178807/current-report-filing-8-k

Very competent CEO LOL