Global Digital Solutions Inc (GDSI)

[Coreton]

8:30a ET 2/28/2023 - BusinessWire
Global Digital Solutions, Inc. Issues Update on Awarded Damages and Legal Fees
Global Digital Solutions, Inc. (OTC: GDSI), a company that is positioning itself as a leader in EV Technology Solutions, has announced today an increase in the initial award of $195,248,000. Interest to date now stands at $41,002,080 for a new judgment total of $236,250,080. The Company received the initial decision on or about February 2, 2021, from the United States District Court for the Southern District. The Eleventh District Court of Appeals affirmed the award on or about November 8, 2022. The judgements received were from Grupo Rontan Electro Metalurgica, S.A., Joao Alberto Bolzan and Jose Carlos Bolzan.

William Delgado, CEO and Chairman of GDSI stated, "We are very pleased to announce that our ongoing legal complaint against Rontan Metalurgica and the Bolzan brothers has been decided in its entirety. The Company, through its legal advisors, has engaged the premier information and collections group headquartered in the United States. The firm maintains a large presence in Brazil and is familiar with the collection process in that country. We have received an Apostille(1), which is the last item needed for the Brazilian courts. We have identified assets through our collections group that exceed the new adjusted judgement amounts, and we have begun the collection process. We have also filed an S-1 registration statement to begin paying down debt and to augment our collection process. We will take all actions necessary to collect this judgement in full."

(1)Apostille: Under the Hague Convention, signatory countries have agreed to recognize public documents issued by other signatory countries if those public documents are authenticated by the attachment of an internationally recognized form of authentication known as an Apostille.

Automotive Technology

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 (AI) 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 develop AI solutions within the EV sector.

About Global Digital Solutions, Inc.

Global Digital Solutions, Inc. (OTC:GDSI), a company that is positioning itself as a leader in Automotive Technology Solutions, continues to enhance shareholder value in these areas. The Company expects to add significantly through acquisitions and partnerships additional capabilities in EV and Automotive AI technologies. For more information about GDSI, visit http://www.gdsi.co.


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