Global Digital Solutions, Inc. Awarded Specific Performance and $192M in Incidental Damages
04 February 2021 - 5:14AM
InvestorsHub NewsWire
Ruling will propel company into
automotive EV and AI sectors
West Palm Beach, FL, Feb. 03, 2021 (GLOBE NEWSWIRE) - Global
Digital Solutions, Inc. (GDSI) (OTC:
GDSI), a company that is positioning itself as a leader in
Automotive and Aviation Technology Solutions, has received the
decision from the United States District Court for the Southern
District of Florida regarding the case against Grupo Rontan Electro
Metalurgica, S.A., Joao Alberto Bolzan and Jose Carlos Bolzan.
The decision awards Global Digital Solutions Specific
Performance (Rights to Rontan Metalurgica) and incidental damages
of $192,448,000.
https://gdsi.co/GDSI%202021-02-03%20[00275-000]%20...
William Delgado, CEO and Chairman of GDSI, said, "We are very
pleased to announce that our ongoing legal complaint against Rontan
Metalurgica and the Bolzan brothers has been decided. Our legal
team of William Isaacson, Carlos Sires and James Grippando has done
a fantastic job steering this through a very complex legal process.
The GDSI team looks forward to expanding into the electric vehicle
and automotive artificial intelligence sectors in the coming
months. We also expect to announce additional acquisitions and
partnerships in our Aviation Technology group. We look forward to
providing detailed updates to the marketplace in the coming weeks
as our near-term strategy is put into place with our attorneys,
business partners and potential banking relationships."
Automotive Technology
The Company intends to leverage our experience gained from
engineering and assembly of mobile command centers through its
NACSV subsidiary into the vastly expanding Electric Vehicle (EV)
and Automotive Artificial Intelligence (AI) sector. Although we do
not intend to become a full-service manufacturer, we believe that
we have the ability to provide support to the industry through
parts, service, logistics, and software development. We also expect
to rely on our AI partner, Consolidated Ocean Technology, Inc (COT)
for work in this area.
Aviation Technology
The Company has continued its development of the PALS system in
2020. We have conducted preliminary flight testing and expect to
announce additional flight testing after the first of the year. We
also have been working with the Federal Aviation Administration
(FAA) and selected OEMS to incorporate the system into their
respective flight protocols. Development has been somewhat slowed
due to the Covid-19 situation. We expect activity to pick up in
2021. The Company is also looking at other uses for the PALS
technology, specifically as it relates to noise abatement and flow
control. We are also continuing to look for additional aviation
technologies that we may acquire in the future to augment our
offerings.
About Global Digital Solutions, Inc.
Global Digital Solutions, Inc. (OTC:GDSI), a
company that is positioning itself as a leader in Automotive and
Aviation Technology Solutions, continues to enhance shareholder
value in these areas. We currently operate an Aviation Technology
group focused on low visibility and airspace congestion safety. The
Company expects to add significantly through acquisitions and
partnerships additional capabilities in EV and Automotive AI
technologies. For more information about GDSI, visit http://www.gdsi.co
Forward Looking Statements
This press release contains "forward-looking statements." The
statements contained in this press release that are not purely
historical are forward-looking statements. Forward-looking
statements give the Company's current expectations or forecasts of
future events. Such statements are subject to risks and
uncertainties that are often difficult to predict and beyond the
Company's control, and could cause the Company's results to differ
materially from those described. In some cases forward-looking
statements can be identified by terminology such as "may,"
"should," "potential," "continue," "expects," "anticipates,"
"intends," "plans," "believes," "estimates," and similar
expressions. These statements include statements regarding moving
forward with executing the Company's global growth strategy. The
statements are based upon current beliefs, expectations and
assumptions and are subject to a number of risks and uncertainties,
many of which are difficult to predict. The Company is providing
this information as of the date of this press release and does not
undertake any obligation to update any forward looking statements
contained in this press release as a result of new information,
future events or otherwise, except as required by law. We have
based these forward-looking statements largely on our current
expectations and projections about future events and financial
trends affecting the financial condition of our business.
Forward-looking statements should not be read as a guarantee of
future performance or results, and will not necessarily be accurate
indications of the times at, or by, which such performance or
results will be achieved. Important factors that could cause such
differences include, but are not limited to the Risk Factors and
other information set forth in the Company's Annual Report on Form
10-Q filed on November 21, 2019, and in our other filings with the
U.S. Securities and Exchange Commission.
Contact:
Richard Brown
nesscapconsult@gmail.com
775-443-4740
SOURCE: Global Digital Solutions Inc.
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