Epoch Corporate Milestone – Foundation Set for Next Phase
RALEIGH, N.C., October 15, 2019 – LandStar, Inc. (OTCPK: LDSR) (“LandStar” or the “Company”), the parent company of Data443 Risk Mitigation, Inc. (“Data443”), a leading data security and privacy software company, today announced that it has completed significant corporate milestones.
“We are pleased to continue to deliver in our commitments to shareholders and the marketplace. Our customer wins, product deliveries and continued progress in public markets demonstrates our teams’ commitment and capabilities.”, stated Data443 Risk Mitigations, Inc. Founder and LandStar, Inc. CEO Jason Remillard. “We look forward to announcing our Q3 financials and focusing on rounding out the year with Q4 fiscal year end finish”.
The company today announced a change in its trading symbol. The new trading symbol will become OTCPK: ATDS which the company feels better reflects the activities of the business – ‘All Things Data Security®’. For the next 20 business days (starting October 16, 2019) – the trading symbol will be LDSRD and then will revert to its new reserved symbol.
The company also announced a corporate name change in the State of Nevada. Effective October 15, 2019 Landstar, Inc. amended its corporate name registration to be: Data443 Risk Mitigation, Inc.
Additionally, the company announced a 1:750 reverse split of its outstanding common stock. The reverse stock split will become effective October 16, 2019 (the “Effective Date”). The company’s common stock is expected to begin trading on a split-adjusted basis when the markets open on October 16, 2019 under the existing trading symbol “LDSR”. The new CUSIP number following the reverse split will be 23804G104.
Every 750 shares of the Company’s issued and outstanding common stock were automatically converted into one issued and outstanding share of common stock, with no change in par value per share. As a result, each stockholder’s percentage ownership interest and proportional voting power remains unchanged and the rights and privileges of the holders of the Company’s common stock are unaffected. Stockholders are not required to take any action. (Example: in a 1-for-750 reverse split, a shareholder that held 75,000 shares at $0.01 per share, for a total value of $750, will now own 100 shares, or 1/750 the number of shares as previously, at a value of $7.50 per share, or 750 times the pre-split price, for the same total value of $750.)
No fractional shares will be issued following the reverse split. Stockholders who would otherwise be entitled to receive a fractional share will instead receive a cash payment based on the closing sales price of the Company’s common stock on the last business day immediately preceding the effective date of the reverse stock split.
Please contact your broker or Investor Relations for any questions.
///***ClassiDocs™ Classification: PUBLIC ***///