So far the only real DD for GDSI has come from the SEC, pacer monitor, the Hull case , The Ramsay case, the otc markets website where the past years events are shown in the news section, the oprogresso articles
Everything prior to December 2015 has either been fake or failed to materialize due to some unknowns but by Rontans principles they stated in a article that GDSI was never a real deal and that GDSI just user the deal to press out to inflate the stock price. Which holds completely within the scope of how Sullivan operated GDSI at that time.
Notice the underlined sections
Based in Tatuí and serving the national and international markets, the Rontan Group is negotiating the sale of its production units with new investors. This is what O Progresso informed the president of Sindmetal (Metalworkers' Union of Tatuí and Region), Ronaldo José da Mota.
According to him, the owners again talked about the matter after giving up the deal with GDSI (Global Digital Solutions Inc.). "We had a meeting with the company's personnel yesterday (Tuesday, April 26) in the afternoon, and they told us that they are negotiating," the union official said.
However, Mota said he could not anticipate who the future buyers would be. The trade unionist explained that he closely follows the negotiation, since the unit of Tatuí was affected by the national financial crisis and has 600 workers (represented by the entity).
Rontan is the leading provider of services (mostly adapted vehicles) to the federal government. With the increase of interest and the reduction in the collection, the Union cut expenses, which directly affected the productivity of the group. In Tatuí, the fall in production resulted in late payments.
The latest of them spawned a three-day strike. The halt, discussed at the meeting, began on Wednesday, April 27, and closed on Friday, 29. The dates were defined by the officials, after meeting mediated by the union and communicated to the management, accompanied by the reasons.
Mota explained that the class entity must notify the company so that it has a deadline to rectify any debts or pay the arrears that are in arrears. When this period expires and the debts are not paid, the union convenes an assembly, in which the standstill is voted and defined.
This was the second time that workers crossed their arms for a short time this year. In March, employees stopped working between days 8 and 10, alleging non-payment of the February salary.
At the time, the union filed a strike request in the TRT (Regional Labor Court). The entity requested authorization to carry out a "non-abusive strike and respecting all the rights and duties stipulated in the Constitution".
According to the unionist, even returning to the posts, officials can deliberate for a new shutdown based on the agenda of the March assembly. Mota explained that the convention continues to be valid in the case of "recidivism".
As in March Rontan made the February payment, the workers returned to the activities. In April, however, the company would have delayed paying the voucher for March. It should be deposited on the 20th.
Mota said that the entity waited seven days to trigger paralysis. "We waited because of the holiday, but we talked to the company, which promised to pay on the 29th," he said. The payment must be cleared this Monday, 2. Otherwise, the union will call a new assembly.
The expectation of the entity is to have regularization with a possible sale. The group went into further negotiation after giving up on completing the lawsuit with US investors.
According to the trade unionist, the buyers would have made use of "industrial financial speculation" and, over the months, demanded the reduction of the initial value combined with the owners.
"This company (GDSI) released a note about the Rontan purchase a while ago, but did it for the stock market action in New York to burst," he said.
The foreign company announced the signing of the intention to buy and sell with the Rontan Group at the end of last year. At the time, Mota said that the union did not confirm the agenda for "there is nothing concrete".
The document predicted that the completion of the purchase and sale would be made in March this year. In April, as the deal was not finalized, the trade unionist reported that the Americans preferred to drop a note on the end of the negotiations.
"Every time they negotiated, they were bargaining, until an hour arrived that Rontan did not want and broke the contract," said the unionist.
GDSI (Global Digital Solutions Inc.) forwarded a statement to O Progresso stating that it had initiated the United States Securities and Exchange Commission to enforce the SPSA - Share Purchase and Sale Agreement). The company wants to keep the term.
The document was signed in October last year between GDSI President Richard J. Sullivan and the owners of the Rontan Group, entrepreneurs João Alberto Bolzan and José Carlos Bolzan. That same month, the American company released the information to the international press.
GDSI has stated that it intends to avoid termination of the contract with Rontan. According to the company's representatives, the owner-owners of the group notified the investors that they intended to terminate the purchase and sale agreement.
