Data443 Risk Mitigation Inc (ATDS)

[Bubae]

Zoom was never anything, just a PR opportunity after getting their free download on their site. That was over a year ago but is typical of the share selling PR games that have been successful. The only development team that they have is for integrating the acquired products into packages that they can tailor for a specific need. The problem is that the products appear to be dated stuff that never found its place in the market. Those who created these products sell them to companies like Data433 for the purpose for which they are being used and that is for selling shares. I know you know all of this, just posting for the newbs.

Jason has a share structure reset now from which to attract new shareholders into the web. Two years, two reverse splits and tens of millions in shareholder losses. So far he has a winning strategy and as long as traders are willing to drop their funds here it will continue. As long as the OTC brings absolutely no accountability to companies like this who are supposed to have a fiduciary duty, it will continue. Jason has exclusive liquidation rights with his exclusive ownership of the class "A" preferred shares and values those at .12 a share, presplit, in the event of a liquidation. He will never give all this up for a NASDAQ up-list, it is a complete charade in my opinion.

Fiduciary Duty of Loyalty

Officers and directors owe a duty of loyalty to a corporation and its shareholders. They are expected to put the welfare and best interests of the corporation above their own personal or other business interests.


From the recent S1
https://sec.report/Document/0001493152-21-013614/


Our sole director and chief executive officer has the ability to control all matters submitted to stockholders for approvala, which limits minority stockholders’ ability to influence corporate affairs.

Our sole director and chief executive officer, Jason Remillard, holds 150,000 shares of our Series A Preferred Stock (each share votes as the equivalent of 15,000 shares of common stock on all matters submitted for a vote by the common stockholders), and as such, Mr. Remillard would be able to control all matters submitted to our stockholders for approval, as well as our management and affairs. For example, Mr. Remillard would control the election of directors and approval of any merger, consolidation, or sale of all or substantially all of our assets.

This concentration of voting power could delay or prevent a change of control of our company on terms that other stockholders may desire, which could deprive our stockholders from receiving a premium for their common shares. Concentrated ownership and control by Mr. Remillard could adversely affect the price of our common stock. Any material sales of common stock by Mr. Remillard, for example, could adversely affect the price of our common stock.

The interests of Mr. Remillard and his affiliates may differ from the interests of other stockholders with respect to the issuance of shares, business transactions with and/or sales to other companies, selection of officers and directors, and other business decisions. The non-controlling stockholders are severely limited in their ability to override the decisions of Mr. Remillard.