Global Digital Solutions, Inc Provides Business Update
Global Digital Solutions, Inc. (OTC PINK:GDSI) announced significant progress in its aviation division and ongoing legal proceedings against Grupo Rontan Metalurgica. CEO William Delgado expects a ruling soon from the U.S. District Court for the Southern District of Florida regarding the lawsuit. The company has successfully completed the initial tests for its Precision Approach Landing System (PALS) and is engaging with FAA for certification. GDSI is also collaborating with an AI company to develop PALS software, aiming to enhance its market presence.
- Significant progress made in aviation division.
- Successful completion of PALS initial test flight.
- Engaged in discussions with FAA for PALS certification.
- Collaboration with AI company for software development.
- Pending legal ruling may create uncertainty for investors.
WEST PALM BEACH, FL / ACCESSWIRE / September 9, 2020 / Global Digital Solutions, Inc. (OTC PINK:GDSI), a company that is positioning itself as a leader in comprehensive security and technology solutions provides a corporate update from CEO, William Delgado, for balance of 2020, as well as longer term objectives into 2021.
"Global Digital Solutions has had a very busy year. Most notably, we have made significant progress within our aviation division as well as in our advancement with our legal complaint with Rontan. We continue to anticipate the ruling in our ongoing legal complaint with Grupo Rontan Metalurgica, S.A., ("Rontan") and Rontan's controlling shareholders, Joao Alberto Bolzan and Jose Carlos Bolzan. We firmly believe that our legal team of Boies Schiller Flexner, as well as William Issacson of Paul Weiss, are arguably the most respected attorneys regarding cross-border matters and will ultimately bring this judgment to a successful closure. We fully appreciate and understand the time it takes for the United States District Court for the Southern District of Florida to formally rule on this matter, but we are hopeful, through conversations with our legal team, that a ruling will occur soon. Upon our notification of this ruling, we will immediately communicate an action plan to our shareholders.
The Company is also thrilled to announce several technology updates regarding the Precision Approach Landing System (PALS). The conformal mounted pod configuration for the PALS has been completed and installed on a Cessna Skyking 182. In order to gather flight data for PALS, the first test flight was conducted by Davis Aviation on June 2, 2020. This data will in turn be used in preparation for the introduction of PALS to the aviation marketplace and further flight tests will be ongoing. GDSI has also secured the advisory services of several aviation executives in order to assist with efforts to secure a "roll out" customer.
In August 2020, the Company conducted various conference calls with the FAA to review the PALS capabilities with the FAA Flight Technologies & Procedures group. The purpose of these meetings was to introduce PALS and identify FAA certification requirements. These discussions with the FAA will be ongoing.
Finally, GDSI has formally entered into a relationship with an Artificial Intelligence company to jointly develop the software for PALS and enhance further software development. This collaboration will introduce PALS to other markets and provide additional opportunities for the Company.
Lastly, I would like to thank all of our investors, stakeholders, consultants and employees who have continually supported our goal to become a company that not only could provide a good return on investment, but equally as important, provide a potentially life-saving aerospace technology. Additionally, upon a successful ruling, we look forward to becoming a major manufacturer in multiple markets."
About Global Digital Solutions, Inc.
Global Digital Solutions, Inc. (OTC PINK:GDSI), a company that is positioning itself as a leader in comprehensive security and technology solutions, continues to enhance shareholder value in these areas. In addition to our acquisition strategy, the Company has initiated a lawsuit for damages against Grupo Rontan Metalurgica, S. A, ("Rontan") and that company's controlling shareholders, Joao Alberto Bolzan and Jose Carlos Bolzan. The Company has engaged the law firm of Boies Schiller Flexner LLP to represent it in this action. The case will be handled by William Isaacson of the firm's Washington office and Carlos Sires of the firm's Fort Lauderdale office (Their professional profiles are available at https://bsfllp.com/lawyers.). The action has been filed in the United States District Court for the Southern District of Florida. The complaint alleges that "Rontan is wholly-owned by Joao Bolzan and Jose Bolzan. It 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. The company also acquired NACSV, a supplier of Mobile Command Centers to Military, Law Enforcement, and First Responders. 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 a system known as Precision Approach Landing System (PALS). PALS provides a high performance state of the art enhanced Situation Awareness capability for the pilot. 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 November 21, 2019, and in our other filings with the U.S. Securities and Exchange Commission.
CONTACT:
William J. Delgado
(775) 443-4740
djwllc@hotmail.com
SOURCE: Global Digital Solutions Inc.
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