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LandStar Inc. Reports Results for Second Quarter 2019

GlobeNewswire

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RALEIGH, N.C., Aug. 14, 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, today filed its Form 10-Q with the U.S. Securities and Exchange Commission (the “SEC”) to disclose its financial results for the three and six month periods ending June 30, 2019.

Key Takeaways:

  • Continued billing and subscription revenue growth
  • Privacy, Security and Governance continue to be leading stories
  • Stage set for H2-2019 Privacy Product Launches
  • Full pipeline of RFPs, PoCs – Customer Conversions to Hybrid-Cloud

Management Commentary:
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.

Business Highlights for the Second Quarter of 2019:

  • Signed a letter of intent to acquire the assets of secure, managed file transfer leader, DataExpress
  • Collaborated with N8 Identity on a major client win following a three-month pilot for a global, NYC-based $1.4B market cap NYSE-traded company
  • Announced the availability of its Enterprise Connector Framework for its expanding product line for all SaaS-based offerings – supporting major platforms such as Slack™, Microsoft Office365™, Altassian’s JIRA™
  • Expanded its product line with the addition of high-profile new data sources for use in CCPA, GDPR, eDiscovery, archiving and data retention requirements
  • Completion of negotiations with finance partners, resulting in favorable new terms on existing debt
  • The WordPress GDPR Framework grew to over 20,000 active deployments
  • Numerous customer wins for its hybrid-cloud archiving and eDiscovery platform
  • New Versions of GDPR Framework, ClassiDocs and ARALOC client released
  • New sales and marketing campaigns launched – aggressively targeting competitor client bases and CCPA legislation subjects
  • New distributors and partners added to our roster, recertifications with technology partners
  • CEO Jason Remillard was invited to become a part of the National SPARK Institute’s Privacy Committee, which assembles preeminent inter-industry experts in the privacy sector to analyze and understand the impact of global privacy laws. The committee also provides thought leadership, strategic recommendations and policy guidance to state and federal entities.
  • Presented at the SPARK Institute’s 2019 SPARK National Conference, covering the state of privacy and its impact on the retirement industry
  • Presented at the LD Micro Invitational in Los Angeles, an investor event dedicated to growth-oriented companies engaging with the investment community

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. We had net billings for the three months ended June 30, 2019 of $483,000, compared to zero in the prior year period.

Deferred revenues were $427,000 as of June 30, 2019, an increase of $398,000 from $29,000 as of December 31, 2018.

General and administrative expenses for the three months ended June 30, 2019 were $1,211,000, as compared to $1,804,000 for the three months ended June 30, 2018, which is a decrease of $593,000, or 33%.

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.

First Half 2019 Financial Results:
Total revenues were $501,000 during the six months ended June 30, 2019, compared to zero revenue for the six months ended June 30, 2018. We had net billings for the six months ended June 30, 2019 of $957,000, compared to zero in the prior year period. 

General and administrative expenses for the six months ended June 30, 2019 were $1,902,000, compared to $2,080,000 for the six months ended June 30, 2018, a decrease of $178,000, or 9%. The expenses for the six months ended June 30, 2019 primarily consisted of management costs, costs to integrate assets we acquired and to expand sales, audit and review fees, filing fees, professional fees, and other expenses, including the re-classification of sales-related management expenses, in connection with the projected growth of the Company’s business.

The net gain for the six months ended June 30, 2019 was $7,224,000 as compared to a loss of $7,665,000 for the six months ended June 30, 2018. The net gain for the six months ended June 30, 2019 was mainly derived from a gain on change in fair value of derivative liability of $9,234,000, associated with convertible notes payable and gross profit of $492,000, offset in part by general and administrative, and sales and marketing expenses incurred. The net loss for the six months ended June 30, 2018 was derived by the net loss on change in fair value of derivative liability of $4,739,000 associated with convertible notes payable, as well as general and administrative, and sales and marketing expenses incurred.

Liquidity
As of June 30, 2019, we had cash in the amount of $241,000 and other current assets in the amount of $521,000, compared to cash in the amount of $62,000, and other current assets in the amount of $41,000 as of June 30, 2018. 

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.

Forward-Looking Statements 
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.

All product names, trademarks and registered trademarks are property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks and brands does not imply endorsement.
All other trademarks cited herein are the property of their respective owners.

For Further Information:
Follow us on Twitter: https://twitter.com/data443Risk
Follow us on Facebook: https://www.facebook.com/data443/
Follow us on LinkedIn: https://www.linkedin.com/company/data443-risk-mitigation-inc/
Signup for our Investor Newsletter: https://www.data443.com/investor-relations/

Investor Relations Contact:
Matthew Abenante
Porter, LeVay & Rose, Inc.
data443@plrinvest.com
212.564.4700

///***ClassiDocs™ Classification: PUBLIC ***///

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Blockchain PR

Visionary Bitcoin Creator Satoshi Nakamoto to Reveal Identity

GlobeNewswire

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Founder of Satoshi Nakamoto Renaissance Holdings to disclose the origins of his iconic pseudonym and the word Bitcoin on Sunday, Aug. 18, in the first installment of his three-part daily epiphany “My Reveal” on www.SatoshiNRH.com, and www.ivymclemore.com

NEW YORK, Aug. 16, 2019 (GLOBE NEWSWIRE) — After a decade of anonymity, Satoshi Nakamoto will break his silence in Part I of his “My Reveal” Sunday, Aug. 18, at 4 p.m. EDT on the Satoshi Nakamoto Renaissance Holdings website, www.SatoshiNRH.com, and the Ivy McLemore & Associates website, www.ivymclemore.com.

In addition to his real-life identity, Nakamoto will use “My Reveal” to divulge such facts as his country of origin, education, professional background, and why he has yet to move any of his 980,000 bitcoins.

Indicative of the compelling evidence he presents in each part of the series, Nakamoto will illustrate the role that cyphers and encryption related to his devotion to Chaldean numerology played in many decisions in his creation of Bitcoin.

Nakamoto also will disclose why he chose the date August 18 not only to register bitcoin.org in 2008, but also to release Part I of “My Reveal” this coming Sunday on the 11th anniversary of his registration of bitcoin.org through AnonymousSpeech.com.

Nakamoto’s revelations will culminate Tuesday in Part III with his introduction of Tabula Rasa, his clean-slate vision for Bitcoin’s transformational rebirth, and the declaration of his identity.

The final two parts of Nakamoto’s “My Reveal” will post to www.SatoshiNRH.com and www.ivymclemore.com on Monday and Tuesday at 4 p.m. EDT.

About Satoshi Nakamoto Renaissance (SNR) Holdings

Satoshi Nakamoto Renaissance (SNR) Holdings is in the business of providing superior Blockchain technologies to help transform people’s lives. For more information, please visit www.SatoshiNRH.com or follow @SatoshiNRH on Twitter.

About Ivy McLemore & Associates

Ivy McLemore & Associates (IM&A) is a digital marketing and PR agency that specializes in serving investment management and cryptocurrency clients seeking to gain and maintain a competitive edge. For more information, please visit www.ivymclemore.com.

CONTACT: Ivy McLemore
PHONE: 212.323.2774
EMAIL: satoshiPR@ivymclemore.com 
WEB: www.ivymclemore.com

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Blockchain PR

Byzen Digital Announces Opening of New Operational Company in the UK, Byzen Digital Limited

GlobeNewswire

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Additionally Announces Termination of LOI with Fortune8 

London, UK, Aug. 16, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Byzen Digital Inc. (OTC PINK: BYZN), a technology mergers and acquisitions company, today announced the opening of new operational company in the UK, Byzen Digital Limited.

Over the past 12 months Byzen Digital Inc. has continued to develop its business model and now has a clear strategy that identifies and engages with SME (small and medium-sized enterprises) technology companies with the goal to developing commercial relationships. In addition, the Company also looks to offer its consultancy services into this sector with a focus on technology market disrupters. Byzen Digital Inc. recently established a Consultancy Services Division in conjunction with its strategic partner, The Axiom Partnership. To assist in developing this model, Byzen Digital management has commissioned the opening of a new operational company in the UK, Byzen Digital Limited, which will replace the non-operational Byzen Digital UK Limited that will be closed shortly.

Termination of LOI    

Byzen Digital Inc. additionally announces that further to its Letter of Intent (LOI) with Fortune8 Technologies, that after months of negotiations, it is currently unable to reach a definitive agreement to complete the acquisition of the Company. 

Byzen Digital President Chris Percy commented, “It is with regret that we have made the operational decision to no longer engage directly with Fortune8. The Board and I wish them success in their future ventures. With this action we now have the luxury to continue to explore and develop other new and existing opportunities.”

About Byzen Digital Inc.

Byzen Digital is a high-growth organisation focused on mergers and acquisitions in the technology space. Originally set up to service the growing blockchain sector, Byzen Digital’s scope has quickly grown beyond its initial focus to incorporate start-ups and SMEs (small and medium-sized enterprises) from the wider technology arena including cyber security, data storage, cloud-tech, analytics, software and digital applications. 

The Byzen family provides vital strategic insight, global funding access and a robust corporate structure to support its incorporated ventures in positioning concepts for global success. For more information go to: www.byzendigital.com

Safe Harbour Statement

This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets and the demand for products. Forward-looking statements are no guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management’s own knowledge and assessment of the Company’s industry and competition. The company assumes no duty to update its forward-looking statements.

Contact:

Chris Percy

President

Byzen Digital INC

chris.p@byzendigital.com

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Blockchain PR

ThalesNano Introduces MicroCube™, the Groundbreaking Compact Reactor for Ultrafast Heterogeneous Chemistry and the PhotoCube™ Series, Designed for Powerful and Versatile Multiwavelength Photochemistry

GlobeNewswire

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BUDAPEST, Hungary and SAN DIEGO, Aug. 16, 2019 (GLOBE NEWSWIRE) — ThalesNano Inc. (www.thalesnano.com) announced today that MicroCube™ and the PhotoCube™ series are to be launched at the 258th American Chemical Society National Meeting & Exposition (booth #2218) on the 25th of August 2019 in San Diego, California.

The MicroCube™ system is the first compact, handheld instrument designed for chemical route-scouting and receiving instant feedback on reaction success. Fast and efficient processes on microgram scale are now available within minutes, from room temperature to 130°C and from atmospheric pressure to 50 bar. The innovative design enables performance of sensitive reactions without the use of gloveboxes. The instrument exploits the advantages of ThalesNano’s CatCart® technology, allowing safe and easy gas-liquid or gas-liquid-solid phase catalytic reactions, with the use of 12-50 mg catalyst amounts.

Gergely Darvas, CEO of ThalesNano, commented: “We are proud to launch the MicroCube™, a cutting edge new instrument for repeated 0.1-2 milligram samples’ synthesis. The system works in a similar fashion to an automatic pipette and opens up solutions unprecedented on the market.”

The PhotoCube™ Series are the first professional photoreactors in the world, that are available as a self-assembly kit as well. Various configurations tailored to the customer’s needs can be applied to a diverse set of batch, flow, stop-flow and CSTR photochemical reactions. Options for multicolor and UV LEDs enable the users to apply up to 7+1 wavelengths even simultaneously and to cover a wide range of chemical applications.

“These reactors make photochemistry accessible to everyone,” Alex Drijver, CEO of ComInnex, a drug discovery company (www.cominnex.com), sister company of ThalesNano, added. “The compact and flexible design is combined with high performance, which makes this modular product series unique. Reactions can be carried out in the same instrument with a range of UV to red lights in an effective and easy manner.”

Between the 25th and 27th of August at the San Diego Convention Centre delegates will also have the opportunity to get acquainted with further new products, such as the Back Pressure Module 300™ widening the available chemical space up to 300 bar, and the Dual Channel Gas Module™ to allow two different gases to be used at up to 100 bar pressure in flow chemical setups. Participants will also have a chance to familiarize themselves with ThalesNano’s FlowReact™ open innovation platform for registering flow chemical reactions, utilizing blockchain technology for irrevocable data storage and for contributing to IP protection.

About ThalesNano: ThalesNano, inventor of the award winner H-Cube® series, is the world leader of benchtop flow chemistry instrumentation. The company extends the available chemical space to the extremes and has the widest portfolio of solutions providing laboratory-scale continuous flow equipment and know-how. More than 1400 of their products are used globally by the pharmaceutical, biotechnology, fine chemical, petroleum/biofuel industries and in academia, resulting in the highest number of scientific publications in the field. Great emphasis is being put on supporting research and development by engaging in scientific collaborations and education. Their mission is to make flow chemistry part of the daily laboratory routine, allowing chemists to realize safer syntheses and processes, easier and more efficient workflows. The company was founded by Dr. Ferenc Darvas, who is also the Chairman of the oldest Hungarian upstream-technology network.

Contact
tamas.hodosi@thalesnano.com

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