Call will Discuss Further Business Developments Initiatives, Blueprint for Growth
Scheduled for November 15 at 11 a.m. ET
RALEIGH, N.C., Oct. 15, 2018 (GLOBE NEWSWIRE) — LandStar, Inc. (OTCPK: LDSR) (“LandStar” or the “Company”), the parent company of Data443™ Risk Mitigation, Inc. (“Data443”), a leading data security and privacy company, has updated its financial disclosures for the third quarter ended September 30, 2018, which are posted at https://www.otcmarkets.com/stock/LDSR/disclosure
Jason Remillard, Chief Executive Officer of LandStar and founder of Data443, commented, “We continued to make progress in strengthening the Company over the summer, investing the time necessary to build out our sales and marketing systems, which I’m happy to say are now firing on all cylinders. At the same time, we have built a success-driven, effective team of professionals that have already supported us, from our two new advisory board members, to our transfer agent, accounting firm and investor relations firm.”
“We are very close to completing our two-year audit – which at this point, is still ahead of schedule. We are also close to the closing of our acquisition of ARALOC – the timing has been slightly affected by us taking the opportunity to strengthen our balance sheet, coming to terms with our financing partner, Blue Citi, which resulted in a significant reduction of debt for the Company. The debt restructuring is an important consideration for our positioning with new investors during our first roadshow earlier this month, and with our other acquisition candidates.”
“We will be holding our investor call one month from today – the financials we filed with the OTC largely reflect the necessary housekeeping we made during the quarter, which made our filings much easier to complete and greatly assist the audit process. We anticipate having more to discuss during our conference call next month, when we believe the Data443 story will have far more developments to discuss.”
Business Highlights for the Third Quarter 2018
- Secured the global technology, branding, and ongoing management rights to leading WordPress GDPR solution: The WordPress GDPR Framework
- Formally completed the acquisition of Data443 by Landstar, Inc.
- ClassiDocs™ integration with Citrix ShareFile verified as Citrix Ready and made available in the Citrix Ready Marketplace
- Added Steven Mail and Philip Niedermair to Data443’s Strategic Advisory Board
- Signed LOI to acquire Modevity’s enterprise cloud-based data storage, protection, and workflow automation platform, ARALOC™ and completed sales and marketing integration
- Sponsored Headtechnology Group’s Headlight International 2018 conference in Bulgaria
- Added to the default recommended Ripple XRP Ledger ecosystem’s Unique Node List (UNL)
- Completed initial roadshow in New York City, spanning two weeks, which included two conferences and meetings with over 50 investors and investor groups
- Formed strategic partnership with Online Business Systems and It4us Big Data Security Analysis to amplify Data443’s presence in North America and Brazil, respectively
- ClassiDocs made available on the GOV.UK Digital Marketplace G-Cloud framework
- Came to terms with Blue Citi on a restructuring of existing convertible notes to consolidate the notes into one agreement that includes more favorable terms, including the extension of the maturity date until March 2020, and the reduction on the discount on conversion from 25% to 10%, a very favorable reduction of ~36%
- Terminated equity purchase agreement, resulting in the cancellation of $100,000 of common shares which were to be issued to Blue Citi, and reduced derivative liabilities by over $1,500,000 due to the related termination of the embedded beneficial conversion feature
Business Update Conference Call:
The Company will host a conference call on Thursday, November 15, 2018, at 11:00 a.m. ET, at which time CEO Jason Remillard will provide highlights and commentary on developments
Call Date/Time: Thursday, November 15, 2018, at 11:00 a.m. ET
Registration: This call will be accessible through webcast. To register, click on the following link, or call Investor Relations at +1.212.564.4700: https://zoom.us/webinar/register/WN_53UIpE-GTGehjyMEbuCbDA). The webcast will be archived and available on the Data443 website, www.data443.com.
Question & Answer Session:
There will be a question and answer session after management’s remarks. The Company invites everyone to submit their questions to [email protected]
About LandStar, Inc.
LandStar, Inc. (OTCPK: LDSR), through its wholly owned subsidiary Data443™ Risk Mitigation, Inc., enables secure data – across local devices, network, cloud, and databases – at rest and in flight. ClassiDocs™, the company’s award-winning data classification and governance technology, provides GDPR compliance and DSAR management coupled with DLP, CASB, SIEM, and cloud solutions to provide user-enabled, governance-enabled, up-to-date security for every data point, every time. The WordPress-based GDPR Framework enables organizations of all sizes to comply with the GDPR and other privacy frameworks. ClassiDocs™ for Blockchain provides an active implementation for blockchain transactions from inadvertent disclosure and data leaks. For more information, please visit www.data443.com.
The statements contained in this release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “pursuant,” “target,” “continue,” and similar expressions are intended to identify such forward-looking statements. The statements in this press release that are not historical statements, including statements regarding LandStar’s plans, objectives, future opportunities for LandStar’s services, future financial performance and operating results and any other statements regarding LandStar’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond LandStar’s control, which could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to the operations of LandStar; results of litigation, settlements and investigations; actions by third parties, including governmental agencies; volatility in customer spending; global economic conditions; ability to hire and retain personnel; loss of, or reduction in business with, key customers; difficulty with growth and in integrating acquisitions; product liability; cybersecurity risk; and, anti-takeover measures in our charter documents.
Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained, from time-to-time, in LandStar’s filings with the Securities and Exchange Commission and postings on the OTC Markets news and information website. LandStar undertakes no obligation to publicly update or revise any forward-looking statement.
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