Replies to post #77521 on Data443 Risk Mitigation Inc (ATDS)

[Zani]

'Many' companies. Your company might be the 1st one that ever bought ClassiDoc if the purchase goes through. As of right now it haven't from the filing.

If your company goes through they might finally be able to put in $1500 (?) as their revenue after spending millions to achieve that. It is a milestone in not a good way.

Our current customer base is comprised entirely of the AraLoc customers we acquired as a result of our acquisition from Modevity. Our customers vary greatly in size ranging from small and medium businesses to large enterprises.

For the Nine Month Period Ended September 30, 2018, as Compared to the Comparable Prior Period Ended September 30, 2017



Revenues and Cost of Goods Sold. No revenue was recorded for the nine month period ended September 30, 2018. No revenue was recorded in the comparable prior period ended September 30, 2017. No cost of goods sold were recorded during either period in 2018 or 2017.



General and Administrative. General and administrative expenses for the nine month period ended September 30, 2018 were $1,854,051, a significant increase of $1,845,576 from $5,475 incurred in the comparable prior period ended September 30, 2017. The increase was the result of the Company no longer being a shell company and having higher staffing levels, professional and service provider costs, and associated operating costs involved with the business operations.



Other income/expense. The Company had no “Other income” for the nine months ended September 30, 2018 and “Other expense” of $2,978,103 consisting mainly of interest expense and loss on the change in fair value of derivative liability. During the comparable prior period ended September 30, 2017, the Company had no “Other Income” or “Other expenses”.



Interest expense. Interest expense accrued for the nine month period ended September 30, 2018 was $22,115, compared with no interest expense for the comparable prior period in 2017. The increase in the accrued interest expense was due to the related increase in outstanding notes payable.



Net loss. Net loss for the nine month period ended September 30, 2018 was $4,832,154, compared to a net loss of $5,475 for the comparable period in 2017.



For the Three Month Period Ended September 30, 2018, as Compared to the Comparable Prior Period Ended September 30, 2017



Revenues and Cost of Goods Sold. We had no revenues for the three month period ended September 30, 2018, compared to no revenue in the comparable prior period ended September 30, 2017. No cost of goods sold were recorded during either period in 2018 or 2017.



General and Administrative. General and administrative expenses for the three month period ended September 30, 2018 were $562,838, as compared to no such expenses incurred in the comparable prior period ended September 30, 2017. The increase was the result of the Company no longer being a shell and commencing business operations.



Interest expense. The Company had interest expense of $13,408 for the three month period ended September 30, 2018, compared to no interest expense for the comparable prior three month period ended 2017.



Net loss. Net income for the three month period ended September 30, 2018 was $3,382,742 compared to a net loss of $0 in the comparable prior three month period in 2017.

[Bennieweinie]

Your opinion carries a lot of water TJ, THANKS