Global Digital Solutions, Inc. Files Form 10 Registration Statement
To Register GDSI's Common Shares - First Step Toward GDSI's Goal To
Be Listed On A National Market Such As Nasdaq Or The American Stock
Exchange
PALM BEACH, Fla., Aug. 12, 2013 /PRNewswire/ -- Global Digital
Solutions (PINKSHEETS:GDSI),a company that is positioning
itself as a leader in providing small arms manufacturing,
knowledge-based and culturally attuned social consulting combined
with complementary security and technology-related solutions in
unsettled areas, today announced that it has filed a Form 10
Registration Statement with the U.S. Securities and Exchange
Commission (SEC) to register GDSI's shares of common stock. The
filing also provides details of GDSI's planned merger with
Airtronic USA, Inc. ("Airtronic").
A copy of the Form 10 is available here or by visiting the SEC's
website (www.sec.gov) under the filer name Global Digital
Solutions, Inc.
"Filing this registration statement is a significant step in the
maturity of GDSI as we pursue the previously announced merger with
Airtronic and continue implementing our global growth strategy,"
said Richard J. Sullivan, who will
become Chairman and CEO of GDSI after the acquisition with
Airtronic is completed. "The Form 10 provides useful information to
shareholders and potential investors and is an important first step
toward our goal of listing GDSI on a national market such as NASDAQ
or the American Stock Exchange."
On or about August 13, 2012, GDSI
and Airtronic announced that they had signed a letter of intent to
enter into good faith discussions involving a potential strategic
combination in which Airtronic would be acquired by GDSI. The
companies signed a merger agreement on or about October 22, 2012 and are working together to file
an Amended Plan of Reorganization ("Plan") for confirmation at a
hearing scheduled on October 2,
2013. If confirmed, the Plan will allow Airtronic to emerge
from chapter 11 bankruptcy with adequate working capital.
Founded in 1990, Airtronic is a well-respected, award-winning
manufacturer of critical battlefield weapons, including grenade
launchers, rocket propelled grenade launchers, and machine guns. A
member of the National Small Arms Technology Consortium (NSATC) and
the largest woman-owned small arms manufacturing company in
the United States, Airtronic has
received commendations from the US Army Tank, Armaments, and
Automotive Command and the Defense Logistics Agency for the quality
and on-time delivery of its products.
About Global Digital Solutions, Inc.
Global Digital Solutions is refocusing its business
strategy on providing small arms manufacturing, knowledge-based and
culturally attuned social consulting combined with complementary
security and technology-related solutions in unsettled areas. For
more information please visit http://www.gdsi.co.
Statements about the company's expectations, including revenue
and earnings and all other statements in this press release, other
than historical facts, are "forward looking" statements and are
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Such forward looking
statements involve risks and uncertainties and are subject to
change at any time. The company's actual results could differ
materially from expected results. In reflecting subsequent events
or circumstances, the company undertakes no obligation to update
forward looking statements.
Contact:
William J. Delgado
916-838-8833
info@gdsi.co
Richard J. Sullivan
561-632-1020
info@gdsi.co
SOURCE Global Digital Solutions, Inc.