Strengthens Balance Sheet,
Removes over $10 Million in Derivative Liabilities
RESEARCH TRIANGLE PARK, NC -- February 18, 2021 -- InvestorsHub
NewsWire -- Data443 Risk Mitigation, Inc. (“Data443” or the
“Company”) (OTCPK:
ATDS), a leading data security and privacy software company, is
pleased to announce that it has retired all outstanding debt
liabilities with a variable conversion rate feature. The immediate
impact on the Company’s financials is the elimination of over
$10,000,000 in derivative liabilities.
With the culmination of extraordinary efforts and negotiations,
all outstanding convertible notes have been settled at beneficial
rates. Additionally, the shares issued are subject to specific
‘leak out’ provisions to afford our shareholders additional
protection.
Effective February 16, 2021, all outstanding convertible
variable rate notes issued by the Company are:
- Retired and nullified
- No prepayment or other penalties applied
- No warrants or other consideration was issued
- Shares issued are subject to measured and protective leak out
provisions
Material terms will be disclosed in an 8-K to be filed
separately with the SEC.
MANAGEMENT COMMENTARY:
“We are very excited to be able to deliver on this significant
milestone,” commented Jason Remillard, President, and Founder of
Data443. “As the Company moves forward with its business plan, we
have also been working continuously to improve our balance sheet,
cap table, and debt position. We felt it was essential to take this
next step now to rationalize and simplify our current financial
condition, enhance our market positioning, and position us for
continued growth as we move into the next phase of the Company’s
maturation.”
“These transactions provide us immediate benefits in terms of
our ability to grow Data443. Moving from convertible debt
instruments to more shareholder-friendly financing arrangements
will allow us to raise capital for organic growth and acquisitions
more efficiently at much better terms. Leveraging these benefits
will continue to be important throughout the year as we continue on
our growth trajectory. Our continued progress and maturation as an
organization continues to be realized and demonstrated with our
performance in the marketplace and with customers,” concluded Mr.
Remillard.
About Data443 Risk Mitigation, Inc.
Data443 Risk Mitigation, Inc. (OTCPK:
ATDS), is the de facto industry leader in Data Privacy
Solutions for All Things Data Security™, providing
software and services to enable secure data across local devices,
network, cloud, and databases, at rest and in flight. Its suite of
products and services is highlighted by: (i) ARALOC™,
which is a market leading secure, cloud-based platform for the
management, protection and distribution of digital content to the
desktop and mobile devices, which protects an organization’s
confidential content and intellectual property assets from leakage
— malicious or accidental — without impacting collaboration between
all stakeholders; (ii) DATAEXPRESS®, the leading data
transport, transformation and delivery product trusted by leading
financial organizations worldwide; (iii) ArcMail™, which
is a leading provider of simple, secure and cost-effective email
and enterprise archiving and management solutions; (iv)
ClassiDocs® the Company’s award-winning data
classification and governance technology, which supports CCPA,
LGPD, and GDPR compliance; (v) ClassiDocs™ for
Blockchain, which provides an active implementation for the Ripple
XRP that protects blockchain transactions from inadvertent
disclosure and data leaks; (vi) Data443™ Global
Privacy Manager™, the privacy compliance and consumer
loss mitigation platform which is integrated with
ClassiDocs™ to do the delivery portions of GDPR and
CCPA as well as process Data Privacy Access Requests – removal
request – with inventory by ClassiDocs™; (vii) Resilient
Access™, which enables fine-grained access controls
across myriad platforms at scale for internal client systems and
commercial public cloud platforms like Salesforce, Box.Net, Google
G Suite, Microsoft OneDrive and others; (viii)
Data443™ Chat History Scanner, which scans chat
messages for Compliance, Security, PII, PI, PCI & custom
keywords; (ix) the CCPA Framework WordPress plugin, which enables
organizations of all sizes to comply with the CCPA privacy
framework; (x) FileFacets®, a Software-as-a-Service
(SaaS) platform that performs sophisticated data discovery and
content search of structured and unstructured data within corporate
networks, servers, content management systems, email, desktops and
laptops; (xi) the GDPR Framework WordPress plugin, with over 30,000
active users and over 400,000 downloads it enables organizations of
all sizes to comply with the GDPR and other privacy frameworks; and
(xii) IntellyWP, a leading purveyor of user experience enhancement
products for webmasters for the world’s largest content management
platform, WordPress. For more information, please
visit http://www.data443.com.
Forward-Looking Statements
The statements contained in this release that are not historical
facts are forward-looking statements as defined in the Private
Securities Litigation Reform Act of 1995. Words such as “may,”
“will,” “could,” “should,” “expect,” “plan,” “project,” “intend,”
“anticipate,” “believe,” “estimate,” “predict,” “potential,”
“pursuant,” “target,” “continue,” and similar expressions are
intended to identify such forward-looking statements. The
statements in this press release that are not historical
statements, including statements regarding Data443’s plans,
objectives, future opportunities for Data443’s services, future
financial performance and operating results and any other
statements regarding Data443’s future expectations, beliefs, plans,
objectives, financial conditions, assumptions or future events or
performance that are not historical facts, are forward-looking
statements within the meaning of the federal securities laws. These
statements are not guarantees of future performance and are subject
to numerous risks, uncertainties, and assumptions, many of which
are beyond Data443’s control, and which could cause actual results
to differ materially from the results expressed or implied by the
statements. These statements are not guarantees of future
performance and involve risks, uncertainties and assumptions that
are difficult to predict, and include, without limitation, results
of litigation, settlements and investigations; actions by third
parties, including governmental agencies; volatility in customer
spending; global economic conditions; ability to hire and retain
personnel; loss of, or reduction in business with, key customers;
difficulty with growth and integration of acquisitions; product
liability; cybersecurity risk; anti-takeover measures in our
charter documents; and, the uncertainties created by the ongoing
outbreak of a respiratory illness caused by the 2019 novel
coronavirus that was recently named by the World Health
Organization as COVID-19. These and other important risk factors
are described more fully in our reports and other documents filed
with the Securities and Exchange Commission (“the SEC”), including
under (i) “Part I, Item 1A. Risk Factors”, in our Registration
Statement on Form 10 filed with the SEC on January 11, 2019 and
amended on April 24, 2019; (ii) “Part I, Item 1A. Risk Factors”, in
our Annual Report on Form 10-K filed with the SEC on April 17,
2020; and, (iii) subsequent filings. Undue reliance should not be
placed on the forward-looking statements in this press release,
which are based on information available to us on the date hereof.
Except as otherwise required by applicable law, we undertake no
obligation to publicly update or revise any forward-looking
statements, whether because of new information, future events, or
otherwise.
The Data443™ logo,
ClassiDocs™ logo, ARALOC™ logo,
DATAEXPRESS® and FILEFACETS® are
registered trademarks of Data443 Risk Mitigation, Inc.
All product names, trademarks and registered trademarks are
property of their respective owners. All company, product and
service names used in this website are for identification purposes
only. Use of these names, trademarks and brands does not imply
endorsement.
All other trademarks cited herein are the property of their
respective owners.
For Further Information:
Follow us on Twitter: https://twitter.com/data443Risk
Follow us on Facebook: https://www.facebook.com/data443/
Follow us on LinkedIn: https://www.linkedin.com/company/data443-risk-mitigation-inc/
Signup for our Investor Newsletter: https://www.data443.com/investor-relations/
Investor Relations Contact:
Matthew Abenante
ir@data443.com
919.858.6542
DATA443 Risk Mitigation (PK) (USOTC:ATDS)
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