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The transaction continues the path towards listing on the national market
RESEARCH TRIANGLE PARK, NC, November 19, 2020 (GLOBE NEWSWIRE) – Data443 Risk Mitigation, Inc. (“Data443” or the “Company”) (OTCPK: ATDS), a leading data privacy and security software company for ALL THINGS DATA SECURITY™, is pleased to announce agreements between the Company and its largest single investor, resulting in (i) a reduction of $ 200,000 in principal due under an existing convertible note; (ii) fixed conversion price conditions more favorable to shareholders, in lieu of floating rate conversion terms; (iii) elimination of the derivative liability component of the note; and, (iv) issue provisions that limit the investor’s ability to convert.
MAIN HIGHLIGHTS OF THE TRANSACTION:
- A reduction of 33% of the amount due under the existing convertible note
- The fixed conversion price eliminates the derivative liability component under the convertible note, positively influencing our balance sheet
- The provision for losses removes the downward pressure on our share price by limiting the amount to be converted during one week for the life of the note if it is converted
- No issue of additional consideration or material changes in terms of convertible bonds in exchange for settlement
- Maintains collaborative and positive relationships with the investor
Jason Remillard, CEO of Data443 commented: “Combined with our recent termination of nearly all outstanding warrants, this agreement represents another milestone in our ongoing efforts to substantially strengthen our financial position and improve our position. on the capital markets. This is critically important to Data443 and its shareholders, as it will lead to much better (and more shareholder-friendly) financing conditions to finance future acquisitions and opportunities, at a more agile pace. “
“While it is important to reduce our outstanding debt by $ 200,000, it is equally significant that we have eliminated the derivatives liability from this note, which has long been a drag on our financials. Also, this transaction removes the floating rate conversion function. Whenever we can reduce our debt without having to issue further material considerations it is always a win for our company. When debt relief is combined with the reduction in the downward selling pressure these convertible notes have exerted on the price of our shares, it is a very good result for our shareholders and a reason why the investing public is further interested in ours. company. It is also a reason to thank our investors for their continued support and a vote of confidence in our commitment to our shareholders, “Remillard concluded.
COMPANY UPDATE CONFERENCE
Data443 will hold a conference call and company update webcast later today, Thursday, November 19, 2020 at 4:30 PM ET.
Investors and other interested parties can send their questions in advance by emailing Investor Relations at [email protected].
Online registration is available at: https://info.data443.com/2020q3-business-update
Information on Data443 Risk Mitigation, Inc.
Data443 Risk Mitigation, Inc. (OTCPK: ATDS), is the de facto industry leader in data privacy solutions for Data security for all things™, providing software and services to enable protected data on local, network, cloud and database devices, 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 managing, protecting and delivering digital content on desktop and mobile devices, which protects an organization’s confidential content and intellectual property assets from loss – harmful or accidental – without affecting the collaboration between all interested parties; (ii) DATAEXPRESS®, the leading data transport, transformation and delivery product trusted by leading financial organizations around the world; (iii) ArcMail™, which is a leading provider of simple, secure, and affordable email and business management and archiving 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 Ripple XRP that protects blockchain transactions from inadvertent disclosure and data leaks; (vi) Data 443® Global Privacy Manager, the platform for privacy compliance and consumer loss reduction integrated with ClassiDocs™ to perform the delivery portions of GDPR and CCPA, as well as process requests for access to data privacy – removal request – with the inventory of ClassiDocs™; (vii) Resilient Access™, which enables granular access controls across a myriad of large-scale platforms for internal client systems and commercial public cloud platforms such as Salesforce, Box.Net, Google G Suite, Microsoft OneDrive, and others; (viii) Data 443™ Chat History Scanner, which analyzes chat messages for compliance, security, PII, PI, PCI, and 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 across corporate networks, servers, content management systems, email, desktops and laptop; (xi) the WordPress GDPR Framework plugin, with over 30,000 active users and over 400,000 downloads, enables organizations of all sizes to comply with the GDPR and other privacy frameworks; and (xii) IntellyWP, a leading provider of user experience enhancement products for webmasters for the world’s largest content management platform, WordPress. For more information, visit http://www.data443.com.
Forward-Looking Statements
Statements 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 “could”, “will”, “could”, “should”, “expect,” “Plan” , “project”, “intend”, “anticipate”, “believe”, “estimate”, “foresee”, “potential”, “compliant”, “objective”, “continue” and similar expressions are intended to identify such forward-looking statements . Statements in this press release that are not historical statements, including statements regarding the plans, objectives, future opportunities for Data443’s services, future financial performance and operating results, and any other statements regarding the expectations, beliefs, Data443’s plans, objectives and financial condition, future assumptions or events, or performance that are not historical facts, are forward-looking statements within the meaning of 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 in 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, the results of disputes, agreements and investigations; actions of third parties, including government agencies; volatility in customer spending; global economic conditions; ability to hire and retain staff; loss or reduction of business with key customers; difficulties with the growth and integration of acquisitions; product liability; cyber security risk; anti-takeover measures in our charter documents; and the uncertainties created by the ongoing outbreak of a respiratory disease caused by the new coronavirus of 2019 that was recently named by the World Health Organization as COVID-19. These and other important risk factors are described in more detail in our reports and other filings with the Securities and Exchange Commission (“the SEC”), including in (i) “Part I, Item 1A. Risk Factors”, in our Form 10 Registration Statement filed with the SEC on January 11, 2019 and amended on April 24, 2019; (ii) “Part I, point 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 contained in this press release, which are based on information available to us as of the date of this document Unless otherwise required by applicable law, we undertake no obligation to publicly update or revise any forward-looking statements, due to new information, future events or otherwise.
Data 443™ logo, ALL THINGS DATA SECURITY™, ClassiDocs™ logo, ARALOC™ logo and DATAEXPRESS® are registered trademarks of Data443 Risk Mitigation, Inc.
All product names, trademarks and registered trademarks belong to their respective owners. All company, product and service names used on this site are for identification purposes only. Use of these names, marks and trademarks does not imply endorsement.
All other trademarks mentioned in this document belong to their respective owners.
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Investor Relations Contact:
Matthew Abenante
[email protected]
919.858.6542
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