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RALEIGH, N.C., June 27, 2019 (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 software company, issued the following letter to shareholders from CEO & President Jason Remillard.
Yesterday, we made several announcements and disclosures, and I wanted to provide this letter to address the questions some of you have had and provide context around some of the activities!
We are thrilled to have announced the letter of intent to acquire the assets of DataExpress™, a company with a long-term, proven track record of innovation and success that will greatly strengthen our core products and expand our customer base. Like our other transactions, this acquisition is a “no-brainer,” that we look forward to closing later this year.
In order for us to have the opportunity to make similar deals that prove accretive to our top and bottom lines like ARALOC, ArcMail, N8 Identity and DataExpress, we need to be able to access the capital markets in order to fund these acquisitions. Our documented and communicated strategy is for Data443 to be the complete data privacy, security and governance ecosystem that is unique and unrivalled in the marketplace. We have and will continue to deliver on this vision with a mix of acquisitions, product developments, cross-selling, and organic growth. As the Company grows, we can look for potentially bigger acquisition targets while having built a solid operational and financial foundation.
We filed a Schedule 14C Information Statement with the SEC after the market closed yesterday (which can be found here: https://www.sec.gov/Archives/edgar/data/1068689/000149315219009745/pre14c.htm). Within this statement, we disclosed our plans for a 1:750 reverse split and corporate name change which we will execute in the coming days.
While I acknowledge investor concerns regarding a reverse split, this is a necessary activity for the Company. We are actively accessing the capital markets to fund our acquisition pipeline, which require us to be cognizant of the investment community’s concerns regarding companies that trade on the Pink Sheets for under $0.01 per share, with an outstanding share count in the billions. This reverse split of our shares allows us to up-list our stock to a different exchange, while expanding the potential investor and financing partners we can bring into the Company thereby making these negotiations more competitive. Additionally, by up-listing, we can expand the set of investors able to invest and support our efforts which is a vital next step in growing the brand and achieving our shared vision. It is a testament to confidence of the investment community and our team’s hard work to have reached this critical inflection point where we can make proactive decisions about how to advance our capital structure and preferred market listing.
All of these actions benefit shareholders. By having a strong stock, in addition to cash and efficient debt, allows us to identify, target and close more deals in a quicker time frame. Because of the nature of our industry, including the growing regulatory, privacy and compliance environment, we need to act swiftly in developing our platform of products and services to meet the future challenges of our customers, and to outperform our competitors. Consolidation of technology companies and the products (SaaS and on-premise) are key to the enablement of this strategy. A better story, bigger upside and a personal connection to the leaders of these organizations is key. Delivering on that against other significant competitors, is even more crucial.
In less than two years, with the support of many, we have made incredible progress on building Data443 essentially from scratch. We’ve delivered on our promise to build our business to a revenue-generating operation with products and services that are second-to-none, to form a publicly-traded company that’s fully-reporting, dedicated to transparency. We are executing on the mission dedicated to delivering disruptive, necessary solutions that address the major shifts happening globally within data privacy and security requirements.
This has been built with a mix of amazingly talented people, accretive acquisitions, industry partners, and our loyal shareholders. While we still have much to do, I can say with confidence that we are in a better position today than ever before.
On behalf of the whole company and the supporting cast of characters, we would like to thank our long-term shareholders for supporting us, defending us and enabling this transformation. Your continued support and confidence in Data443, our mission and the global goals that we all have has enabled us to build a remarkable organization - worldwide, impactful and worthy organization.
We are excited. We are busy. We are delivering. We are building to & for scale…
Thank you for your support,
Your Proud CEO and President
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. Its suite of products and services is highlighted by: (i) ArcMail, which is a leading provider of simple, secure and cost-effective email and enterprise archiving and management solutions; (ii) ARALOC™, which is a market leading secure, cloud-based platform for the management, protection and distribution of digital content to the desktop and mobile devices, which protects an organization’s confidential content and intellectual property assets from leakage — malicious or accidental — without impacting collaboration between all stakeholders; (iii) ClassiDocs™, the Company’s award-winning data classification and governance technology, which supports CCPA, LGPD and GDPR compliance; (iv) ClassiDocs for Blockchain, which provides an active implementation for the Ripple XRP that protects blockchain transactions from inadvertent disclosure and data leaks; (v) the WordPress GDPR Framework with over 20,000 active users enables organizations of all sizes to comply with the GDPR and other privacy frameworks; (vi) The Virtual Data Protection Officer program that offers a turnkey and outsourced DPO capability for smaller organizations; and, (vii) Data443™ Privacy Manager which enables the full lifecycle of Data Privacy Access Requests, Remediation, Monitoring and Reporting. For more information, please visit http://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 not guarantees of future performance and are subject to numerous risks, uncertainties, and assumptions, many of which are beyond LandStar’s control, and which could cause actual results to differ materially from the results expressed or implied by the statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict, and include, without limitation, 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 integration of acquisitions; product liability; cybersecurity risk; and, anti-takeover measures in our charter documents. 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 under “Part I, Item 1A. Risk Factors”, in our Registration Statement on Form 10 filed with the SEC on January 11, 2019. Any forward-looking statement is made only as of the date of which such statement is made. 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™, ClassiDocs™, ARALOC™ are registered trademarks of Data443 Risk Mitigation, Inc.
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