$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. The balance sheet looks as bad as ever now. Those new shares purchased for .01 to pay for the deal and others likely went into restricted status for the rule 144 waiting period of 6 months. Those will be eligible to hit the market soon. One thing is for certain, trading losses will be the source of funding as it always has.
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.
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”).
...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.
Subsequent to March 31, 2022, the Company issued 807,663 shares of common stock as follows:
> 380,952 shares to Centurion Holdings LLC as part of the acquisition (see Note 1). > 160,416 shares issued for conversion of debt and interest. > 108,000 shares to our CEO for conversion of Series A Preferred Stock. ? 146,291 shares issued under a registration statement on Form S-8, to employees and consultants for services. > 7,200 shares issued for a restricted stock award. > 4,804 shares to debt holders for commitment obligations.