I am in full agreement, LibertyUGuy.
The PR was ambiguous and a bit tantalizing. Reading between the lines, what I see is the clear wish of the restructured Board to conclude the Rontan deal as originally planned, assuming incidentally that the changes made public by the PR (shareholder update) will make the successful resolution of the lawsuit much easier to accomplish.
A lot can be learned from the market's repose to the PR. From having a spread yesterday at $0.001 against $0.0012 to the current $0.0018 against
$0.002 shows an over 50% increase on the offer. After showing willing on the need to bring shareholders up to date, I wouldn't be surprised to see further PRs soon to complete the good work.
––––––––––
PR DATED MAY 15th 2016
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 (OTC: 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.
Sincerely,
/s/ William J. Delgado
William J. Delgado
Chief Executive Officer
About Global Digital Solutions, Inc.
Global Digital Solutions is positioning itself as a leader in providing comprehensive security and technology solutions. On June 16, 2014, GDSI completed its acquisition of North American Custom Specialty Vehicles (NACSV), a leading builder of mobile command/communications and specialty vehicles for emergency management, first responders, national security, and law enforcement operations. 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-K filed on March 30, 2015, and in our other filings with the U.S. Securities and Exchange Commission.
Contact:
William J. Delgado
561-515-6163
info@gdsi.co
SOURCE: Global Digital Solutions, Inc.
Source: Accesswire (May 16, 2016 - 6:40 PM EDT)
The PR was ambiguous and a bit tantalizing. Reading between the lines, what I see is the clear wish of the restructured Board to conclude the Rontan deal as originally planned, assuming incidentally that the changes made public by the PR (shareholder update) will make the successful resolution of the lawsuit much easier to accomplish.
A lot can be learned from the market's repose to the PR. From having a spread yesterday at $0.001 against $0.0012 to the current $0.0018 against
$0.002 shows an over 50% increase on the offer. After showing willing on the need to bring shareholders up to date, I wouldn't be surprised to see further PRs soon to complete the good work.
––––––––––
PR DATED MAY 15th 2016
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 (OTC: 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.
Sincerely,
/s/ William J. Delgado
William J. Delgado
Chief Executive Officer
About Global Digital Solutions, Inc.
Global Digital Solutions is positioning itself as a leader in providing comprehensive security and technology solutions. On June 16, 2014, GDSI completed its acquisition of North American Custom Specialty Vehicles (NACSV), a leading builder of mobile command/communications and specialty vehicles for emergency management, first responders, national security, and law enforcement operations. 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-K filed on March 30, 2015, and in our other filings with the U.S. Securities and Exchange Commission.
Contact:
William J. Delgado
561-515-6163
info@gdsi.co
SOURCE: Global Digital Solutions, Inc.
Source: Accesswire (May 16, 2016 - 6:40 PM EDT)
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