WEB NEWS Notable Share Transactions
RALEIGH, N.C., Oct. 29, 2019 (GLOBE NEWSWIRE ) -- 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 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.”
TRADING SYMBOL
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.
REVERSE SPLIT
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.
Notable Share Transactions
RALEIGH, N.C., Oct. 15, 2019 (GLOBE NEWSWIRE) -- LandStar, Inc. (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 several significant corporate milestones.
“We are pleased to continue delivering on 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 Mitigation, Inc. founder and LandStar, Inc. CEO Jason Remillard. “Completing these corporate developments enables us to strengthen the brand of our company for current and potential customers, while putting our stock in a better position to attract investment within the investment community. We look forward to announcing our third quarter financials in the near future and focusing on a strong finish for the year.”
Today, the Company announced a change in its trading symbol. The new trading symbol will become OTCPK: ATDS which the company feels more appropriately reflects the activities of the business – ‘All Things Data Security™’. For the next 20 business days (starting October 16, 2019) – the trading symbol will temporarily be LDSRD, then will begin trading under the new ticker symbol, ATDS.
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 become 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 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. (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 holding fractional shares as a result of the reverse stock split will be rounded up to the next whole share.
Comments & Business Outlook
Second Quarter 2019 Financial Results:
Total revenues were $359,000 during the three months ended June 30, 2019, compared to zero revenue for the three months ended June 30, 2018.
The net gain for the three months ended June 30, 2019 was $1,194,000 as compared to a loss of $1,460,000 for the three months ended June 30, 2018. The net gain for the three months ended June 30, 2019 was mainly derived from a gain on change in fair value of derivative liability of $2,421,000, associated with convertible notes payable and gross margin of $353,000, offset in part by general and administrative, and sales and marketing expenses incurred. The net loss for the three months ended June 30, 2018 was mainly derived from the general and administrative, and sales and marketing expenses incurred without generating revenue, offset in part by a gain on change in fair value of derivative liabilities.
Jason Remillard, Founder of Data443 and CEO of LandStar, commented, “As our second-quarter results confirm, we are making progress on our plan to accelerate high-margin, recurring revenue into our business. We believe the large and growing addressable markets we operate in provides us with substantial runway for continued expansion. Strong execution and our focus on building deep customer relationships have driven customer renewals, which is of critical importance when integrating our current and planned acquisitions. Our recent contract awards combined with the elevated level of proposal activity sustains our optimism for further growth.
"On the acquisition front, we are excited to strengthen our capabilities with the strategic acquisition of DataExpress, which we expect to close in the third quarter of 2019. This acquisition will allow us to adopt a larger footprint into the retail and financial services industries, where data transfer activity continues to increase in volume, risk, sensitivity and overall value to the organizations. We intend to make additional prudent acquisitions that meet our strategic goals of increasing our customer base, expanding our service capabilities, and achieving high margin recurring revenue.
"As we look to the second half of the year, we still have plenty of work ahead in converting and increasing our new business pipeline. Our comprehensive portfolio of products and services, strong partnerships, nimble structure and depth of expertise, position Data443 to drive growth and deliver value for our clients and shareholders,” concluded Mr. Remillard.
Comments & Business Outlook
Third Quarter of 2018 Financial Results
Net revenues increased 15.9% year-over-year from RMB2,387.3 million to RMB2,767.6 million (US$403.0 million) 1 for the third quarter of 2018, exceeding high-end of Q3 revenue guidance (10.5%-12.5%).
Basic and diluted earnings per share/ADS. For the third quarter of 2018, basic earnings per share were RMB2.37 (US$0.34) and diluted earnings per share were RMB2.23 (US$0.32). For the third quarter of 2018, excluding share-based compensation expenses and unrealized gains (losses) from fair value changes of equity securities, adjusted basic earnings per share (non-GAAP) were RMB1.80 (US$0.26) and adjusted diluted earnings per share (non-GAAP) were RMB1.71 (US$0.24).
“We are excited to deliver another quarter with strong growth in both hotel openings and revenue growth. In the third quarter, we added a net of 152 hotels, bringing our total number of hotels in operation to 4,055. Our hotels in the pipeline had grown to a historical high of 924 at the end of the third quarter. This shows that our brands and products are well received by our customers and hotel owners. We are well on track for the hotel opening target for this year, and we are confident to further accelerate our new hotel opening in the coming 2019. We are also happy to announce that our flagship midscale hotel brand, the JI brand had exceeded the 500 hotels milestone for hotel in operations, and also recorded a historical high hotel in pipeline of 250 at the end of this quarter. Given JI brand’s characteristic design and superior profitability, we believe the JI brand will continue to accelerate its growth momentum in years to come. Huazhu’s other relatively younger and newly-acquired midscale brands have also started to build their own momentum for fast expansion, supported by our strong direct sales channels and centralized operating platform. We believe a number of these brands will follow JI brand’s growth trajectory to become a much bigger brand in the years to come,” commented Ms. Jenny Zhang, Chief Executive Officer of Huazhu.
