Data443 Risk Mitigation Inc (ATDS)

[Bubae]

I really haven't been digging into the filings of this lately. The fact that Jason has been able to operate like this really illustrated how corrupt the OTC can be and not flag attention from some oversight body.

That is an nice find. It looks like he did the same thing in 2020 and received only a marginal amount in return that would reflect normal interest. He essentially doubled his money after that and the amount used for operating expenses was substantially less. He likely pocketed what he could.

So we know that Jason has total control over this stock through his ownership of teh series "A" shares and even though the are references to a board of directors in the filings that they actually is no board as a practical matter. So Jason is issued 108,000 shares shortly after the split last year for series "A" conversions at a rate of 15,000 : 1. His ownership only drops
from 150,000 to 149,892 while bagging quite a handsome sum for the conversions last year. He can make a bloody fortune splitting this each year and converting those shares at a rate of 15,000 :1. What a stinking scam that appears to be perfectly legal as long as he files the proper paperwork. There is no real "fiduciary responsibility" to shareholders in the OTC in my opinion.


For the fiscal year ended: December 31, 2022
https://www.otcmarkets.com/filing/html?id=16432850&guid=NYA-kq6Mr6aUAch

NOTE 16: RELATED PARTY TRANSACTIONS

During the year ended December 31, 2022, the Company borrowed $299,281 from our CEO, our CEO paid operating expenses of $167,653 on behalf of the Company and the Company repaid $602,237 to our CEO. During the year ended December 31, 2021, the Company borrowed $231,150 from our CEO, our CEO paid operating expenses of $135,793 on behalf of the Company and the Company repaid $399,169 to our CEO.

As of December 31, 2022 and 2021, the Company had due to related party of $112,062 and $247,366, respectively, which arose from the DMB transaction to acquire DataExpress™.

Each share of Series A is the equivalent of 15,000 shares of Common Stock. Our Chief Executive Officer, Jason Remillard, holds 149,892 shares of our Series A Preferred Stock. Through his ownership of Series A Preferred Shares, Mr. Remillard has voting control over all matters to be submitted to a vote of our shareholders.

During the year ended December 31, 2022, we issued 108,000 shares of Common Stock for conversion of Series A preferred stock.

As of December 31, 2022 and December 31, 2021, 149,892 and 150,000 shares of Series A were issued and outstanding, respectively.



For the fiscal year ended: December 31, 2021
https://www.otcmarkets.com/filing/html?id=15703045&guid=NYA-kq6Mr6aUAch

NOTE 16: RELATED PARTY TRANSACTIONS

During the year ended December 31, 2021, the Company borrowed $231,150 from our CEO, our CEO paid operating expenses of $135,793 on behalf of the Company and the Company repaid $399,169 to our CEO. During the year ended December 31, 2020, our CEO paid operating expenses of $299,173 on behalf of the Company and the Company repaid $303,079 to our CEO.

Item 13. Certain Relationships and Related Transactions, and Director Independence.

Certain Relationships and Related Transactions

Jason Remillard is our Chief Executive Officer and sole director. Through his ownership of Series A Shares, Mr. Remillard has voting control over all matters to be submitted to a vote of our stockholders.