Data443 Risk Mitigation Inc (ATDS)

[Bubae]

Another 8K was filed July 24th outlining new convertible debt deals for more than $1.5 million. He also amended another agreement awarding warrants for 25 million shares at $0.001 a share, exercisable at any time. I honestly can not image what Jason is telling these new investors to have them believe that they can convert those notes. Yet again, I never appreciated how gullible OTC traders can be until I saw how Jason took them for a ride down from north of $10 in the past year.



July 24th 8K
https://www.otcmarkets.com/filing/html?id=16806288&guid=m-N-knSkhmczB3h

Item 1.01 Entry Into a Material Definitive Agreement.


Securities Purchase Agreements

On June 30, 2023, Data443 Risk Mitigation, Inc. (the “Company”) entered into a securities purchase agreement (“Purchase Agreement #1”) with an accredited investor as purchaser (“Investor #1”). Pursuant to Purchase Agreement #1, the Company sold, and Investor #1 purchased, $812,500.00 in principal amount of secured convertible notes (the “Investor #1 Notes”) and pre-funded warrants (the “Investor #1 Warrants”).


Also on June 30, 2023, the Company entered into a second securities purchase agreement...

...the Company sold, and Investor #2 purchased, $718,750.00 in principal amount of secured convertible notes...


As consideration for entering into the Amendment, the Company granted to the Previous Investor warrants to purchase 25,000,000 shares of Common Stock (the “Previous Investor Warrants”). The Previous Investor Warrants have an exercise price of $0.001, are exercisable at any time, and entitle the Previous Investor to purchase up to 25,000,000 shares of Common Stock, subject to adjustment under certain circumstances described in the Previous Investor Warrants.