OTC - PINK SHEET
8/17/2016 - Federation of Metalworkers of São Paulo discusses Rontan, company sale, back pay, etc.
Company employees Rontan Electro Metallurgical in Tatuí - SP, decide for camping in the company's door
"More than seven months late in the basket, delays in salary salaries, non-compliance with the agreements signed in the Ministry of Labour for the payment of wages and delayed benefits, these are some of the problems Rontan company employees are facing since mid-2015 since the fall of project demands the company by the industry it serves. Company officials, repeatedly confirmed dates for the payment of salaries by the company president, José Carlos Bolzan, in an internal meeting with officials, he said on a specified date would leave the payment of wages, and more 1 bonus salary as compensation for the inconvenience caused to your employees. But none of this was accomplished, leading to despair employees who have no other source of income in the family and depends solely on this job. The Metalworkers Union of Tatuí achieved in August blockaded the company's plant assets to guarantee the rights of employees, which does not solve immediately, but in a future problem employees have guaranteed their rights from that court decision. At this time, company employees are camped at the door, waiting for a solution to the problem facing definitively, and as is not solved, they did not come out of the company's door. Currently, more than 600 employees are away without receiving their salaries and outstanding debt in local shops and banks in the city, since even their loans are not being ignored by the trade and financial institution. Most aggravating is that some employees have arrests warrant already for failure to pay child support. The company representatives say they are waiting for a bureaucratic decision for the release of labor salaries, since the company was sold to a European group, but to date no document was presented or disclosed the name of this group. The Metalworkers Union of Tatuí board has given all legal support to employees and former employees who and filed a labor lawsuit action"
William J. Delgado, Chairman and Chief Executive Officer of Global Digital Solutions, Inc., Issues Shareholder Letter Regarding Changes in Executive Management, Near and Long Term Plans
PALM BEACH, FL / ACCESSWIRE / May 16, 2016 / William J. Delgado, newly-named Chairman and Chief Executive Officer of Global Digital Solutions (GDSI) a company that is positioning itself as a leader in providing comprehensive security and technology solutions, released today a Shareholder Letter announcing the resignation of the Company's Chairman and CEO and two members of the Company's board of directors. Delgado explained the Company's near-term plans to resolve certain debt items and complete, if possible, the announced acquisition of Brazilian firm, Rontan Group (Rontan Electrometalurgica, LTDA). The text of the letter follows:
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-related entities both in the United States and abroad. Unfortunately, even with a lot of hard work by the management and employees, we have not been successful in implementing the plan. I, along with a significant number of shareholders, have expressed dissatisfaction with our progress to date. I believe the Company needs to develop its strategy with a new CEO and BOD, therefore I have accepted the positions of CEO and Chairman of the Company - positions which I held up until August of 2013.
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
GDSI Acquires Brazil-Based Rontan Group PALM BEACH, Fla., Oct. 21, 2015 /PRNewswire/ -- Global Digital Solutions, Inc. today announced that it has acquired the Rontan Group ("Rontan"), headquartered in Sao Paulo state, Brazil. At an upcoming special meeting, GDSI's board of directors is expected to elect Rontan's CEO, Edigimar A. Maximiliano Jr., Chief Executive Officer of GDSI.
According to a GDSI spokesman, "This exciting transaction represents a significant step forward for GDSI," said Richard J. Sullivan, expected to be named non-executive Chairman of GDSI.
"Rontan's capabilities create enormous synergies with the specialty vehicles produced by North American Custom Specialty Vehicles (NACSV), GDSI's wholly-owned subsidiary."
"We're especially delighted "Max" Maximilliano (Rontan's CEO, Edigimar A. Maximilliano) will serve as GDSI's CEO. Max is an extremely talented and experienced leader, and we're excited about welcoming Max and the entire Rontan team to the growing GDSI family."
"This is a momentous milestone in Rontan's 45-year history," said Edigimar Maximilliano ("Max"), expected to be named GDSI's new CEO. The combination of Rontan and GDSI – with GDSI's experienced management team and board of directors will help us expand our capabilities while continuing to provide our worldwide customers with world-class products and services."
"I'm looking forward to leveraging Rontan's extensive experience and international reach to enable the new GDSI team to seize the many profitable growth opportunities envisioned by GDSI's global strategy."
Refer to GDSI's October 19, 2015 SEC Form 8-K filing (gdsi.co) for more details about this transaction.
OTC - Pink Sheet Transfer Agent
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GDSI Share Structure
Market Value: $190,738 a/o Sep 29, 2015
Authorized Shares: 650,000,000 a/o NOV 04, 2015
Outstanding Shares: 489,476,766 a/o NOV 04, 2015
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