Global Digital Solutions, Inc. Awarded Legal Fees and Costs of $2,086,233

Rhea-AI Summary

Global Digital Solutions Inc. (OTC: GDSI) announced it has been awarded $2,086,233 in legal fees by the Federal District Court, increasing total damages to approximately $194 million, excluding accruing interest of $53,000 per day. The company engaged Brazilian legal firm Mattos Filoh to assist in finalizing the judgment. CEO William Delgado expressed optimism about leveraging additional legal expertise to conclude its project effectively. GDSI aims to enhance shareholder value through acquisitions and partnerships in Automotive and Aviation Technology Solutions.

Positive

• Awarded $2,086,233 in legal fees, contributing to total damages of approximately $194 million.
• Engaged a premier legal firm in Brazil to facilitate court filings.
• CEO expresses confidence in leveraging additional legal expertise for project conclusion.

Negative

• None.

SACRAMENTO, Calif., Aug. 17, 2021 /PRNewswire/ -- Global Digital Solutions Inc., (OTC: GDSI), a company that is positioning itself as a leader in Automotive and Aviation Technology Solutions, announced today that it has been awarded Legal fees and associated costs from the Federal District Court of $2,086,233. This award will bring the specific performance portion of damages to approximately $194,000,000, not including interest currently accruing at approximately $53,000/day.

Global has also formally engaged Mattos Filoh, one of the premier legal firms in Brazil, to assist with the court filings and final paperwork in Brazil to finalize the internationally recognized judgement.

William Delgado, CEO and Chairman of GDSI said, "We are very pleased with this ruling. The ability to hire additional legal expertise, along with one of the preeminent collection groups in the world, will bode well for a final conclusion to this project. Our collections group has a significant presence in Brazil and is very familiar with collections processes in Brazil and worldwide."

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 September 30, 2020, and in our other filings with the U.S. Securities and Exchange Commission.

Contact:
Richard Brown
nesscapconsult@gmail.com

 

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SOURCE Global Digital Solutions Inc.

FAQ

What significant financial award did GDSI announce on August 17, 2021?

GDSI announced a financial award of $2,086,233 in legal fees from the Federal District Court.

What is the total amount of damages GDSI is pursuing?

GDSI is pursuing approximately $194 million in total damages, not including interest.

Who has GDSI engaged to assist with its legal matters in Brazil?

GDSI has engaged Mattos Filoh, a prominent legal firm in Brazil.

What daily interest is accruing on GDSI's legal award?

Interest is accruing at approximately $53,000 per day.

What is GDSI's focus in business development?

GDSI is focusing on enhancing shareholder value through acquisitions and partnerships in Automotive and Aviation Technology Solutions.