Global Digital Solutions, Inc Provides Update on Rontan Judgement and Aviation Services Group

Rhea-AI Summary

Global Digital Solutions, Inc. (OTC: GDSI) provides updates on the Rontan Judgment and its Aviation Services Group. As of October 15, 2021, Rontan Metallurgica and the Bolzans have filed an appellate brief, and GDSI is preparing its response. The judgment of approximately $195M remains collectible. In aviation, GDSI is advancing its Precision Approach Landing System (PALS) and Vertical Stacking Air Traffic Management systems, seeking partnerships with established airlines to enhance safety in air traffic management.

Positive

• The company maintains confidence in the $195M judgment against Rontan being fully collectible.
• Advancement of patented aviation technologies could improve safety and efficiency in air traffic management.

Negative

• The ongoing appeal process introduces uncertainty regarding the timeline for the judgment's collection.

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.

1. Rontan/Bolzan Appeal: Rontan Metallurgica and the Bolzan's have filed an appellate brief on October 15, 2021. The Company, through our counsel at Boies Schiller Flexner (BSF), expects to respond in the next few weeks to the filed brief. The Company has studied the brief with counsel and remain very confident that the Federal District court that issued the judgement was correct in its findings and application of the rules of law were accurately applied. The approximately $195M judgement plus interest continues in force and is fully collectible in the absence of a bond filing staying execution of the judgement. The Company has engaged several consultants and special counsel in Brazil to enforce the judgment including acquisition of the plant and collections on the damages.
2. Aviation Services: The Company continues to develop our patented Aviation Technology of Precision Approach Landing System (PALS) and our Vertical Stacking Air Traffic Management (Patent Pending). Due to Covid and the normally long lead times in dealing with the Federal Aviation Administration (FAA), The Company believes that developing the systems with an established aircraft operator (Cargo or passenger Airline) or an aircraft manufacturing company will be the quickest way to adopt this technology. Both technologies increase the safety of operating aircraft in today's complex air traffic system.

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.

Contact:
Robert Schneider
775-443-4740

 

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SOURCE Global Digital Solutions Inc.

FAQ

What is the current status of the Rontan Judgment for GDSI?

GDSI is preparing a response to Rontan Metallurgica's appellate brief, with the $195M judgment still collectible.

What aviation technologies is GDSI developing?

GDSI is developing Precision Approach Landing System (PALS) and Vertical Stacking Air Traffic Management systems to enhance flight safety.

What challenges does GDSI face in aviation technology development?

GDSI faces delays due to COVID-19 and long lead times associated with FAA approval processes.

What impact does the Rontan appeal have on GDSI's financial outlook?

The ongoing appeal may delay the collection of the judgment and introduces uncertainty in financial expectations.