Company Continues to Prepare for Up-list to Senior Exchange
RESEARCH TRIANGLE PARK, NC, Dec. 09, 2020 — Data443 Risk Mitigation, Inc. (OTCPK: ATDS), the leading data security and privacy software company for ALL THINGS DATA SECURITY™, is pleased to announce an agreement with four of the Company’s largest investors under which they will not exercise any conversion rights for the next sixty (60) days. This represents over 83% of the total convertible debt issued by the Company, and the amount of convertible debt available for conversion over the next 60-days. The agreement can be extended an additional 30-days upon the mutual agreement of the four parties. All other terms and conditions of the lender’s convertible promissory note remain in place.
Jason Remillard, CEO of Data443 commented, “We appreciate the ongoing commitment of our largest investors, and their expressions of confidence in our ability to execute on our strategic plan. Their agreement to effectively stand-down for 60-days and not exercise any conversions gives us needed runway to stay laser-focused. Keep in mind that over the last 12-months the Company has reduced its debt by over $3.2 million dollars. With no conversions for the next 60-days by these investors, we can continue to prepare for an up-list of our stock to a senior exchange, while taking actions to continue to decrease our derivative liabilities, working to reduce our debt with direct cash and equity paydowns, and continue to expand our business.”
Remillard added, “Our lead investors and lenders have always worked with us to support our efforts towards building a stronger company, one which is destined to be an industry leader. We look forward to continuing our work with them in a collaborative manner to restructure our outstanding debt and build a more sustainable capital structure.”
“While our team has worked extremely hard on expanding our business, I believe everyone, including our stockholders and our funding partners, will be rewarded for these efforts. Their investments in Data443, both initially and continued, expresses that belief. This is demonstrated in our continued growth in customers, rapid adoption of our business-critical products in the marketplace, and quarter on quarter revenue growth in very challenging conditions. We would like to thank all of our stakeholders for their continued efforts and support.”
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 AccessTM, 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.
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 17 April 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, ALL THINGS DATA SECURITY™, ClassiDocs™ logo, ARALOC™ logo and DATAEXPRESS® are registered trademarks of Data443 Risk Mitigation, Inc.
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