Data443 Risk Mitigation Files Q2 2024 10-Q
Ticker: ATDS · Form: 10-Q · Filed: Aug 14, 2024 · CIK: 1068689
Sentiment: neutral
Topics: 10-Q, financials, software
TL;DR
Data443 Risk Mitigation filed its Q2 10-Q. Check financials.
AI Summary
Data443 Risk Mitigation, Inc. filed its 10-Q for the period ending June 30, 2024. The company, formerly known as LandStar, Inc., is incorporated in Nevada and operates in the prepackaged software industry. Its business address is in Research Triangle Park, North Carolina.
Why It Matters
This filing provides investors with the company's financial performance and operational status for the second quarter of 2024, crucial for understanding its current business health.
Risk Assessment
Risk Level: medium — As a 10-Q filing, it contains detailed financial information that requires careful analysis to assess the company's risk profile.
Key Numbers
- 20240630 — Reporting Period End Date (Indicates the end of the financial quarter being reported.)
- 20240814 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- Data443 Risk Mitigation, Inc. (company) — Filer
- LandStar, Inc. (company) — Former company name
- Research Triangle Park, North Carolina (location) — Business address
- 20240630 (date) — Reporting period end date
FAQ
What is the primary business of Data443 Risk Mitigation, Inc.?
Data443 Risk Mitigation, Inc. operates in the SERVICES-PREPACKAGED SOFTWARE sector, SIC code 7372.
When was Data443 Risk Mitigation, Inc. previously known by another name?
The company was formerly known as LandStar, Inc., with a name change date of 20181212.
What is the fiscal year end for Data443 Risk Mitigation, Inc.?
The company's fiscal year ends on December 31st.
In which state is Data443 Risk Mitigation, Inc. incorporated?
Data443 Risk Mitigation, Inc. is incorporated in Nevada (NV).
What is the business address of Data443 Risk Mitigation, Inc.?
The business address is 4000 SANCAR WAY, SUITE 400, RESEARCH TRIANGLE PARK, NC 27709.
Filing Stats: 4,450 words · 18 min read · ~15 pages · Grade level 18.3 · Accepted 2024-08-14 16:05:59
Filing Documents
- form10-q.htm (10-Q) — 1085KB
- ex4-1.htm (EX-4.1) — 74KB
- ex4-2.htm (EX-4.2) — 88KB
- ex31-1.htm (EX-31.1) — 10KB
- ex31-2.htm (EX-31.2) — 10KB
- ex32-1.htm (EX-32.1) — 4KB
- ex32-2.htm (EX-32.2) — 4KB
- 0001493152-24-032157.txt ( ) — 6313KB
- atds-20240630.xsd (EX-101.SCH) — 58KB
- atds-20240630_cal.xml (EX-101.CAL) — 72KB
- atds-20240630_def.xml (EX-101.DEF) — 201KB
- atds-20240630_lab.xml (EX-101.LAB) — 422KB
- atds-20240630_pre.xml (EX-101.PRE) — 316KB
- form10-q_htm.xml (XML) — 889KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION ITEM 1.
Financial Statements
Financial Statements 2 Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 (unaudited) 2 Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2024 and 2023 (unaudited) 3 Condensed Consolidated Statements of Stockholders' Deficit for the three and six months ended June 30, 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 (unaudited) 5 Notes to the Unaudited Condensed Consolidated Financial Statements 6 ITEM 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 19 ITEM 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 28 ITEM 4.
Controls and Procedures
Controls and Procedures 28
OTHER INFORMATION
PART II. OTHER INFORMATION ITEM 1.
Legal Proceedings
Legal Proceedings 30 ITEM 1A.
Risk Factors
Risk Factors 30 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 30 ITEM 3. Defaults Upon Senior Securities 30 ITEM 4. Mine Safety Disclosures 30 ITEM 5. Other Information 30 ITEM 6. Exhibits 30
SIGNATURES
SIGNATURES 31 1 PART I FINANCIAL INFORMATION ITEM 1. FINANCIAL DATA443 RISK MITIGATION, INC. CONDENSED CONSOLIDATED BALANCE SHEETS June 30, December 31, 2024 2023 (Unaudited) (Audited) Assets Current assets Cash $ 47,580 $ 84,570 Accounts receivable, net 36,510 309,768 Prepaid expense and other current assets 48,335 29,467 Total current assets 132,425 423,805 Property and equipment, net 321,235 409,525 Operating lease right-of-use assets, net 181,863 322,616 Advance payment for acquisition 2,726,188 2,726,188 Intellectual property, net of accumulated amortization 3,162,316 3,525,816 Deposits 46,476 45,673 Total Assets $ 6,570,503 $ 7,453,623 Liabilities and Stockholders' Deficit Current Liabilities Accounts payable and accrued liabilities 4,511,468 3,360,469 Deferred revenue 1,616,031 1,627,572 Interest payable 1,941,011 1,352,227 Notes payable, net of unamortized discount 3,299,271 3,704,326 Convertible notes payable, net of unamortized discount 3,652,197 3,047,388 Due to a related party 297,002 341,437 Operating lease liability 181,863 357,656 Finance lease liability 10,341 10,341 Total Current Liabilities 15,509,184 13,801,416 Series B Preferred Stock, 80,000 shares designated; $ 0.001 par value; Stated value $ 10.00 , 0 and 0 shares issued and outstanding, net of discount, respectively - - Notes payable, net of unamortized discount - non-current 1,553,390 1,355,132 Convertible notes payable, net of unamortized discount - non-current 97,946 97,946 Deferred revenues - non-current 90,303 195,997 Total Liabilities 17,250,823 15,450,491 Commitments and Contingencies - - Stockholders' Deficit Preferred stock: 337,500 authorized; $ 0.001 par value Series A Preferred Stock, 150,000 shares designated; $ 0.001 par value; 149,892 and 149,892 shares issued and outstanding, respectively 150 150 Common stock: 500,000,000 authori