Significant Corporate Changes Lay Foundation for Next Phase
RALEIGH, N.C., October 29, 2019 – Data443 Risk Mitigation, Inc. (OTCPK: LDSR, LDSRD), a leading data security and privacy software company, today announces that it has completed its planned reverse split of its common stock and corporate rebranding.
“We are delighted to have completed these meaningful corporate actions related to our common stock and our how our Company is known in the public markets,” stated Data443 Risk Mitigation, Inc. founder and CEO, Jason Remillard. “I want to thank our loyal employees, partners, customers, and shareholders for your continued faith and patience during this delay over the past two weeks. We endeavored to keep you informed during the sometimes difficult and confusing process, but all of these changes have been worth it. With an improved capitalization and corporate branding, we have achieved several truly significant milestones for our company that will position us well for the future.”
For the next 20 business days (starting October 29, 2019) – the trading symbol will temporarily be LDSRD. Following this period, the Company will then begin trading under the new ticker symbol, “ATDS,” which the company feels more appropriately reflects the activities of the business – ‘All Things Data Security™’.
FORMAL NAME CHANGE
The Company amended its corporate charter in the State of Nevada to become “Data443 Risk Mitigation, Inc.,” which was effective on October 16, 2019. The former name, LandStar, Inc., will no longer be used.
Additionally, the Company announced a 1:750 reverse split of its outstanding common stock. The reverse stock split will become effective October 29, 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 29, 2019 under the trading symbol “LDSRD”. 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. By way of example: in a 1-for-750 reverse split, a shareholder that held 75,000 shares will now own 100 shares, or 1/750 the number of shares as previously held. No fractional shares will be issued following the reverse split. Stockholders holding fractional shares as a result of the reverse stock split will be rounded up to the next whole share.
Please contact your broker or Matthew Abenante, Investor Relations for the Company, with any questions.
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