WEST PALM BEACH, FL / ACCESSWIRE / February 11, 2021 / Global Digital Solutions Inc. (GDSI), (OTC PINK:GDSI), a company that is positioning itself as a leader in automotive and aviation technology, announced today that it has received a two-million dollar ($2,000,000) commitment to consolidate its short term debt. This is the first step in a series of action items which begins the process of working towards a pivotal joint venture with companies interested in partnering with GDSI on its plant in Brazil and with its aviation technology group. The company has received several proposals for various levels of involvement, and these are being evaluated based upon importance.
As previously disseminated, GDSI 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. A full text of the ruling can be found on the GDSI investor page https://www.gdsi.co/page12.html, as well as an article highlighting the outcome and the attorneys integral to bringing this to closure. https://www.law.com/dailybusinessreview/2021/02/09/boies-schiller-paul-weiss-to-push-for-attorney-fees-after-192m-bench-trial-award-for-incidental-damages/
William Delgado, CEO and Chairman of GDSI said, "We have had multiple inquiries from potential funding sources that wish to assist the company in satisfying the outstanding short-term debt and settled on a funding source that we feel is synergistically compatible. Additionally, we have received propositions from several organizations wanting to partner with us on various projects. Similar to our financing, we will carefully select the proper partners in order to ensure the company meets its internal objectives. We will continue to provide material updates as they unfold in the coming weeks and months," added Delgado.
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.
SOURCE: Global Digital Solutions Inc.