SACRAMENTO, Dec. 30, 2020 /PRNewswire/ -- Global Digital Solutions, Inc. (OTC: GDSI), a Company that is positioning itself as a leader in Automotive and Aviation Technology Solutions, provides a corporate update from CEO William Delgado.
We are very pleased to announce that our ongoing legal complaint against Rontan Metalurgica and the Bolzan brothers is reaching a close. Our legal team has filed the final finding of fact and we expect the court's ruling sometime in late January of 2021. Global Digital Solutions has asked for Specific Performance (the Company and Plant in Brazil) and incidental damages of approximately $192,000,000, not including legal fees incurred by our team at Boies Schiller Flexner. We firmly believe that our legal team of Boies Schiller Flexner, as well as William Isaacson 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 complex matter.
Upon completion of the aforementioned legal proceeding, the Company intends to leverage our experience gained from engineering and assembly of mobile command centers through its NACSV subsidiary into the vastly expanding Electric Vehicle (EV) and Automotive Artificial Intelligence (AAI) sector. Although we do not intend to become a full-service manufacturer, we believe that we have the ability to provide support to the industry through parts, service, logistics and software development. We also expect to rely on our AI partner, Consolidated Ocean Technology, Inc. (COTS) for work in this area.
The Company has continued its development of the PALS system in 2020. We have conducted preliminary flight testing and expect to announce additional testing after the first of the year. We also have been working with the Federal Aviation Administration (FAA) and selected OEMS to incorporate the system into their respective flight protocols. While development has been somewhat slowed due to the Covid-19 situation, we expect activity to pick up in 2021. The Company is also looking at other applications for the PALS technology, specifically related to noise abatement to address aviation challenges that have been fueled by the astronomical growth of aviation. This effort has led to VSAT (Vertical Stacking Air Traffic) Management System. GDSI's interest in VSAT has resulted in a VSAT provisional patent application. We continue to look for additional aviation technology acquisition candidates that we may obtain in the future to augment our offerings.
Lastly, I would like to thank all of our shareholders and employees for their valuable support over this past year. We eagerly await 2021 and the possibilities that it holds for our Company.
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 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://www.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.
SOURCE Global Digital Solutions, Inc.