Global Digital Solutions Inc (GDSI)

[Gatsby]

And Read as well page 13:

As a result of recent declines in the fair value of the Company’s common stock, the Company does not currently have sufficient authorized shares to satisfy in full its obligations under several of these convertible notes payable. Accordingly, certain of the note holders have the right to accelerate the payment due under the terms of their note. In addition, they have the right to require that additional shares and/or monies be paid in connection with this technical default. At September 30, 2015, the Company has accrued $31,346 of penalty interest associated with one of these notes. The Company intends to request shareholder approval to increase the number of authorized shares of common stock in the near future in order to satisfy its obligations under these notes.