Data443 Risk Mitigation Inc (ATDS)

[Sturgis]

It’s not a theory hot rod. Zani is saying they don’t meet the bid test. But. The SEC came out with rule 163B. And changed and deleted a bunch of things. Effective Dec. 3. 2019. Under the jobs act. All issuers. Let me repeat that. ALL issuers after they file a registration. Preliminary prospectus. Can with an underwriter offer shares for sale to seasoned investors. QIB’s. IAI’s. And individuals. Especially emerging growth companies. Under the testing the waters rules. So. All issuers along with having to selling to seasoned investors wipes out the minimum bid requirements. Now get this. PAG is an underwriter/broker dealer. Ok. So Data443 is going to a conference March 3. They had to wait 15 days after the registration was filed to start the road show. What do you know. The road show begins. In the prospectus it uses the phrase from time to time for selling shares of the 4 million offered. This gives lots of leeway. Anyway at the road shows they will be promoting the 4 million shares in the offer at a post IPO price. (Testing the waters ) price. Since PAG is a registered underwriter/broker dealer they can sell shares to seasoned buyers. So. If they sell say 1000 shares @ $10 a share. But at 200 shares a day for five consecutive days then they meet the minimum bid pre-IPO. Since in the prospectus it declares offering from time to time. There can be gaps in the selling of share periods. And Nasdaq rules only stipulate five consecutive days. I would assume Jason is going for the bottom tier of the Nasdaq. From what I have seen Data443 meets all other criteria. If I’m right about his plan. Then this is a done deal unless the SEC,Nasdaq or Finra have some issue. But he’ll get whatever taken care of anyway. All in my opinion.