Data443 Risk Mitigation Inc (ATDS)

[Bubae]

ArcMail Deal? Pretty typical of Jason and his deals when it comes to handing out shares. The original deal for ArcMail called for a final payment of $765,000 which would have been due by now. The new deal calls for buying it for $1,404,000 all in convertible notes. He did the same thing before the last reverse split with the DataExpress deal. They are already setting up the dilution for the next group of shareholders. I would like to see the terms for these notes. Interest rates and the conversion agreement.


https://sec.report/Document/0001493152-21-004320/0001493152-21-004320.txt

"Total purchase price (the “Purchase Price”) was One Million Four Hundred Four Thousand Dollars ($1,404,000), evidenced by three promissory notes in favor of the Wala Creditors in the total amount of the Purchase Price (the “Notes”). Payments under the Notes commence in 30-days and continue monthly thereafter for 60-months."

NOTE 4: INTELLECTUAL PROPERTY

https://sec.report/Document/0001493152-21-001523/

"The term of the License Agreement is twenty-seven (27) months, with the following payments to be made by the Company to ArcMail: (i) $200,000 upon signing the License Agreement; (ii) monthly payments starting 30 days after the execution of the License Agreement in the amount of $25,000 per month during months 1-6; (iii) monthly payments in the amount of $30,000 per month during months 7-17; and (iii) in month 18, final payment in the amount of $765,000. As of December 31, 2019, the balance of payments due under the License Agreement was $1,094,691."