Global Digital Solutions, Inc.
777 South Flagler Dr., Suite 800 West Tower
West Palm Beach, FL 33401
NACSV specializes in building mobile command & communications specialty vehicles for emergency management, first responders, national security and law enforcement operations.
Proven Strategic Vision
Global Investor Base
Brand Leadership Through Partnerships and Alliances
Where Digital Solutions Converge
GDSI executive management has an impressive record of building fast-
Focused on long-
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GDSI CEO William Delgado Issues Update to Shareholders
William J. Delgado, Chairman and Chief Executive Officer of GDSI, has issued an update to GDSI shareholders, as follows:
Dear Fellow Shareholder,
After nineteen months of work, thousands of man hours, and a lot of money, we were able to provide an update through last week’s news concerning litigation pertaining to the acquisition of Rontan and a very important financing. These two steps are critical in the company regaining stability and the ability for a path forward. Due to the extremely complex and confidential nature of the legal issues, I have been unable to update everyone on these issues. In this shareholder update, I am going to focus on two items; 1.) Where we are now 2.) Where are we going?
Where are we now? Since May of 2016, two of our most significant achievements have been retaining the Boies Schiller Flexner law firm related to the Rontan litigation and the institutional financing. We are thrilled that BSF has seen the merits of our legal position. We have also been able to achieve an institutional financing which we announced last week. We have already received $300,000 and these funds are non-
Legal Work: I would like to add a few more words about the quality of the legal representation we have had over the past 19 months. Brinen and Associates has done an excellent job representing our company in several different lawsuits. We expect all of these lawsuits to be resolved favorably for GDSI shareholders. The Ramsay/Deckle/NACSV litigation has been settled and dismissed. The other two pending lawsuits by Hull and Lopez have been, in my opinion, trending in our favor. Please do your own due diligence as all of the filings related to these cases are on PACER. The quality of Brinen and Associates work has been vital to our survival as a company.
The ability of the two primary lawyers that will be representing us related to the Rontan litigation speaks for itself. The lead counsel in the lawsuit will be Carlos Sires. Mr. Sires is a partner at BSF working out of their Fort Lauderdale office. Mr. Sires specializes in commercial litigation, primarily complex commercial litigation with a nexus to Latin America, including Costa Rica, Mexico, Venezuala and the Dominican Republic. Mr. Sires has represented officers and directors in securities litigation. Mr. Sires has appeared in numerous Federal and State courts, Florida’s appellate courts, and in the First, Second, Third and Eleventh Circuits of Appeals.
William Isaacson will also be a part of our counsel in the Rontan lawsuit. Mr. Isaacson is a partner in the Washington DC office of BSF. Mr. Isaacson is a 2015 American Lawyer Litigator of the Year, a three-
Liabilities and SEC Issues: During this time, we have also reduced past due liabilities by approximately $516,000. We have settled with the three remaining “Toxic” financing lenders and there will be no more conversions under those notes. As per the SEC actions, the initial action undertaken in August of 2016 has been settled and finalized on January 2, 2018 by the judge handling the case. I will be filing an 8K shortly. The Company currently has an outstanding balance due to the SEC of approximately $103,000. I am currently working on getting this fine and disgorgement penalty paid as soon as possible. In late December of 2017, the SEC also notified the Company it would be holding a hearing regarding the Company’s late filing issues. Our legal team has done a great job of communicating with the SEC regarding the filing of our financial statements. The Company, during this time, has been unable to let anyone outside of the Company, including the SEC, review any information regarding the Rontan lawsuit and the financing due to confidentiality reasons. We intend to notify the SEC in our filings of these events. The legal issue with Rontan has had a significant financial impact on the Company and our ability to file timely financials. The Company has completed a significant portion of the filing work internally, but we have not had the financial capability to pay our auditors. With our financing, we will start that external process immediately. We hope that the SEC will see the damage caused by this event and its impact on our filings.
Where are we going? The Company is currently negotiating a contract for one mobile command center utilizing our subsidiary NACSV. It should be noted that this contract is in the negotiation stage only. If the Company is able to procure the contract (Approximately $450,000), we will announce it in a separate press release and 8K.
After the filings are completed and our balance sheet is in order, I intend to move into two areas: Infrastructure Engineering Technology and Cybersecurity Technology. I believe that these two areas will provide the greatest long term value for the shareholders. I want to stress that this is the plan moving forward. Any merger and acquisition targets will require additional financing and increased management support. I believe that our management and advisory teams, with the proper financing, can attract and enhance company(s) in these areas.
In closing, I want to thank the shareholders who have stood by me and the team during this incredibly difficult time. I hope that I can restore your faith in our ability to make GDSI successful.
GDSI Initiates Legal Action against Grupo Rontan Metalurgica, S.A. and Certain of its Principals and Owners
Boies Schiller Flexner LLP to Represent GDSI
William J. Delgado, Chairman and Chief Executive Officer of GDSI, announced 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-
Delgado noted, “The filing of this lawsuit is an important step in enforcing the Company’s rights with respect to the acquisition of Rontan. I fully expect that our position regarding this acquisition will be validated by the Courts. I also expect to announce several additional items over the coming weeks related to the company’s on-
GDSI Secures $1,200,000 in Financing from New York-
William J. Delgado, Chairman and Chief Executive Officer of GDSI, has announced the Company has secured $1,200,000 in financing from a New York-
The financing is non-
The New York-
Delgado noted, “This financing is a validation by a well-