Data443 Risk Mitigation Inc (ATDS)

[Bubae]

What a complete Sh*tSh*w this has become. This is the first press release that went into such detail about the quarterly numbers and it doesn't look good. One glaring omission in the press release is anything about their latest acquisition. LOL $3.4 million Centurion deal for the ransomware product that PC mag rated as fair. They also noted that "Shortly after we published this review, Data443 Ransomware Recovery Manager was pulled from the market." It doesn't look like traders will be bailing Jason out this time. Karma.


Data443 Reports Second Quarter and First Half 2022 Results and Provides Corporate Update
August 16, 2022 09:53 ET | Source: Data443 Risk Mitigation, Inc.
https://www.globenewswire.com/en/news-release/2022/08/16/2499279/0/en/Data443-Reports-Second-Quarter-and-First-Half-2022-Results-and-Provides-Corporate-Update.html

Liquidity:
As of June 30, 2022, we had no cash and a bank overdraft of $3,781 and our principal sources of liquidity were trade accounts receivable of $231,507 and prepaid, advance payment for acquisition of $2,726,188 and other current assets of $27,950, as compared to cash of $1,204,933, trade accounts receivable of $21,569 and prepaid and other current assets of $70,802 as of December 31, 2021.

The net loss for the six months ended June 30, 2022 was $4,279,531 compared to a loss of $3,721,652 for the six months ended June 30, 2021.



https://sec.report/Document/0001493152-22-002091/#index.html


4.3.2. Payment. The Purchase Price, as determined above, shall be payable in the following form and manner:

(a) Two Hundred Fifty Thousand Dollars ($250,000) payable in cash at Closing in the form of a wire transfer of immediately available funds in accordance with instructions to be provided by Seller.

(b) Two Million Nine Hundred Thousand Dollars ($2,900,000) payable pursuant to a promissory note issued by Data443 in favor of Seller at Closing in the form mutually agreed to by the Parties (the “Note”).

(c) Two Hundred Fifty Thousand Dollars ($250,000) in the form of a contingent payment, as further described in Section 4.5, below (the “Contingent Payment”).

PC Magazine Ransomware Review.
https://www.pcmag.com/reviews/data443-ransomware-recovery-manager

...Unfortunately, that ransomware protection didn’t prove out in our hands-on testing...

Editors' Note: Shortly after we published this review, Data443 Ransomware Recovery Manager was pulled from the market. If it becomes available again, we will retest it and update this review accordingly.