Data443 Risk Mitigation Inc (ATDS)

[Bubae]

Before talking about any numbers understand that Jason runs this business more like a sole proprietorship with his exclusive ownership of class "A" preferred shares, is the CEO and the CFO. His wife has been reported to be the COO though I cannot confirm that is current. For these reasons one would think that those screening a company for a NASDAQ uplist might want a formal audit of their financials.

The balance sheet looks much better year over year. Revenue is up substantially and the current liabilities are much less. The problem is that Jason likes to take on more debt even as he is retiring old debt with the conversions. He has a real task ahead to convince would be traders of this stock that he isn't simply repeating the same business plan that has thrashed shareholders with 2 reverse splits in less than 2 years. So far it looks like he is up to the same game.

This time last year a penny was the floor and it would run from time to time. Now it is trading at .001 presplit valuation on much better numbers. Traders apparently aren't up to a third run to a reverse split and aren't buying the NASDAQ narrative. If something changes though...like Jason getting run over by a bus...this could run hard. LOL

The letter to shareholders at the time of the first reverse split is telling. I refer to this as the Jason Remillard manifesto. See if this sounds familiar even today.

Letter to shareholders 2019
https://www.otcmarkets.com/otcapi/company/financial-report/224289/content



https://sec.report/Document/0001493152-21-026340/
Three Months Ended September 30,2021 Revenue $1,495,059, Total Current Liabilities $3,890,393.

https://sec.report/Document/0001493152-20-021394/
Three Months Ended September 30,2020 Revenue $700,275, Total Current Liabilities $9,656,268.