RESEARCH TRIANGLE PARK, N.C., Jan. 17, 2023 (GLOBE NEWSWIRE) — via InvestorWire — Data443 Risk Mitigation, Inc. (“Data443” or the “Company”) (OTC: ATDS), a data security and privacy software company for “All Things Data Security,” today provided an update regarding its proposed uplist to The Nasdaq Capital Market (“Nasdaq”).
Upon the filing of the Company’s Annual Report on Form 10-K for its fiscal year ended December 31, 2022 (the “2022 Form 10-K”), the Company will no longer be subject to Nasdaq’s higher seasoning threshold for price compliance, which the Company hopes will hasten its uplisting to Nasdaq.
Until the filing of the 2022 Form 10-K, the Company has been and will continue to be subject to Nasdaq’s heightened “seasoning” rules that apply to all companies that have completed reverse mergers and do not yet have four full years of audited financial statements on file with the Securities and Exchange Commission. Nasdaq Listing Rule 5110(c) includes a 30-of-60-day price requirement, which until the filing of the 2022 Form 10-K requires the Company to evidence a closing bid price of at least $4.00 per share for 30 of 60 days both prior to the filing of the Company’s initial listing application with Nasdaq and prior to the actual listing of the Company’s securities on Nasdaq.
“We are excited to file our 2022 Form 10-K and, as a seasoned issuer, no longer be subject to Nasdaq’s 30-of-60-day price requirement. We remain hopeful that completion of our planned public offering and price compliance at that time will enable the Company to complete our uplist to Nasdaq. I am also hopeful that doing so will further position the Company as a prominent cybersecurity and data management company. Delivering on our business plan continues to be our top priority. As stated previously, our efforts to uplist to Nasdaq are central to our continued funding, acquisition strategy, and organic growth efforts,” said CEO and founder, Jason Remillard.
To learn more about Data443, please watch our video introduction on our YouTube channel: https://youtu.be/1Fp93jOxFSg
About Data443 Risk Mitigation, Inc.
Data443 Risk Mitigation, Inc. (OTC: ATDS) provides software and services to enable secure data across devices and databases, at rest and in flight/in transit, locally, on a network, or in the cloud. We are All Things Data Security™. With over 10,000 customers in over 100 countries, Data443 provides a modern approach to data governance and security by identifying and protecting all sensitive data regardless of location, platform, or format. Our framework helps customers prioritize risk, identify security gaps, and implement effective data protection and privacy management strategies.
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by use of terms such as “expect,” “believe,” “anticipate,” “may,” “could,” “will,” “should,” “plan,” “project,” “intend,” “estimate,” “predict,” “potential,” “pursuant,” “target,” “continue,” or the negative of these words or other comparable terminology. 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, are forward-looking statements. These statements are not guarantees of future performance and are subject to numerous risks, uncertainties, and assumptions, many of which are difficult to predict or are beyond Data443’s control. These risks, uncertainties, and assumptions could cause actual results to differ materially from the results expressed or implied by the statements. They may relate to the outcome of litigation, settlements and investigations, actions by third parties, including governmental agencies, volatility in customer spending, global economic conditions, inability 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 global health issues, such as the ongoing outbreak of COVID, and political unrest and conflict, such as the invasion of Ukraine by Russia. 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 in Part I, Item 1A of our Annual Report on Form 10-K filed with the SEC on March 31, 2022, and our subsequent filings with the SEC. 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.
“DATA443” is a registered trademark of Data443 Risk Mitigation, Inc.
All product names, trademarks and registered trademarks are the property of their respective owners. All company, product and service names used in this press release are for identification purposes only. Use of these names, trademarks and brands does not imply endorsement.
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