Global Digital Solutions, Inc.
777 South Flagler Dr., Suite 800 West Tower
West Palm Beach, FL 33401
William J. Delgado, Chairman and Chief Executive Officer of Global Digital Solutions, Inc., Issues Shareholder Letter Regarding Changes in Executive Management, Near-
PALM BEACH, FL / ACCESSWIRE / May 16, 2016 / William J. Delgado, newly-
May 15, 2016
RE: Letter to Shareholders
Dear Fellow Shareholder:
As you know, on May 13, 2016 I accepted the resignations of Richard J. Sullivan as Chairman and CEO of Global Digital Solutions, Inc. along with the resignations of Stephanie C. Sullivan and Arthur F. Noterman as Directors of GDSI.
Since May 1, 2012, Global Digital Solutions, Inc. (the "Company") has been focusing on acquisitions of defense and defense-
Our first order of business will be to put our financial house in order. This includes our annual audit and all of our required filings. I am reviewing our payables and financial commitments with Jerry Gomolski, our CFO, and will be contacting our debt holders to review and commit to what is best for both our debt holders and the Company. Next, we will be raising capital to not only payoff the debt, but also to provide working capital for the company. I will be looking to debt financing for this and will not commit to any toxic financings, as unfortunately, we have done in the past. Along with that, we will be withdrawing our 14A shortly.
Third, we will be reviewing our strategic alternatives, including our recent negotiations and agreements with Rontan in Brazil. Our management team feels strongly that we have a strong and valid agreement and will continue to pursue all avenues to find a way to complete the transaction per the terms and conditions previously disclosed in the Share Purchase and Sale Agreement of October, 2015. We are also developing several other strategic initiatives which we hope to announce when complete. We want our disclosures to be fair to the investing public and to meet all regulatory guidelines.
I want to thank all of the shareholders for their support during this time and I look forward to great success in the very near future.
/s/ William J. Delgado
William J. Delgado
Chief Executive Officer
About Global Digital Solutions, Inc.
Global Digital Solutions is positioning itself as a leader in providing comprehensive security and technology solutions. On June 16, 2014, GDSI completed its acquisition of North American Custom Specialty Vehicles (NACSV), a leading builder of mobile command/communications and specialty vehicles for emergency management, first responders, national security, and law enforcement operations. For more information about GDSI, visit http://www.gdsi.co.
Forward Looking Statements
This press release contains "forward-
William J. Delgado