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Judgment now stands in excess of $195M with Legal fees and Accrued Interest
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Oct 28, 2021, 08:30 ET
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SACRAMENTO, Calif., Oct. 28, 2021 /PRNewswire/ — Global Digital Solutions, Inc. (OTC: GDSI), a company that is positioning itself as a leader in Automotive and Aviation Technology Solutions, announces updates on the Rontan Judgment process and updates regarding our Aviation Services Group.
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. In addition to our acquisition strategy, the Company has been awarded damages of specific performance and an approximate $195,000,000 in incidental damages in its lawsuit against Grupo Rontan Metalurgica, S. A, ("Rontan") and that company’s controlling shareholders, Joao Alberto Bolzan and Jose Carlos Bolzan. Rontan is one of the world’s largest manufacturers of original equipment for specialty vehicles for emergency management, first responders, national security, and law enforcement operations. In August of 2019, the Company acquired HarmAlarm. HA was formed in 2002 as a private Texas company to pursue Infrared commercial applications in the aviation services area. HA has developed two systems known as Precision Approach Landing System (PALS) and Vertical Stacking Air Traffic Management (VSAT). PALS and VSAT provides a high performance state of the art enhanced Situation Awareness capability for the pilot and safety and fuel savings for air traffic management. The precision and robustness of PALS has generated a host of new applications mainly through "landing trajectory" optimization which provides additional safety margin against weather related hazardous conditions, such as wind shear, wake turbulence, icing, as well as low ceilings and fog. 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 August 22, 2021, and in our other filings with the U.S. Securities and Exchange Commission.
SOURCE Global Digital Solutions Inc.
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