$GDSI WEST PALM BEACH, FL / ACCESSWIRE / March 21
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Posted On: 03/21/2019 8:38:14 AM
$GDSI
WEST PALM BEACH, FL / ACCESSWIRE / March 21, 2019 / Global Digital Solutions, Inc. (OTC PINK: GDSI), a company that is positioning itself as a leader in comprehensive security and technology solutions, has announced that the Administrative Action initiated by the SEC on December 26, 2017 has been dismissed by the Commission effective March 17, 2019.
William J. Delgado, GDSI's CEO, commented "I am grateful that the Commission and the ALJ presiding over the case were able to evaluate the extenuating circumstances in this matter. The company has been fully compliant with our reporting obligations since August 14, 2018 and we intend to remain so going forward."
Since May 16, 2016, the Company has made significant progress in eliminating adverse legal claims and reducing debt. It also has accomplished its first acquisition since 2014 (HarmAlarm). As previously announced, the Company has initiated legal action concerning a claim regarding the Rontan Metallurgica acquisition for $63,000,000. News regarding the Rontan/Bolzan lawsuit should be forthcoming in the next few weeks.
About Global Digital Solutions, Inc.
Global Digital Solutions, Inc. (OTC: GDSI), a company that is positioning itself as a leader in comprehensive security and technology solutions, continues to enhance shareholder value in these areas. In addition to our acquisition strategy, the Company has initiated a lawsuit for damages against Grupo Rontan Metalurgica, S. A, ("Rontan"
and that company's controlling shareholders, Joao Alberto Bolzan and Jose Carlos Bolzan. The Company has engaged the law firm of Boies Schiller Flexner LLP to represent it in this action. The case will be handled by William Isaacson of the firm's Washington office and Carlos Sires of the firm's Fort Lauderdale office (Their professional profiles are available at https://bsfllp.com/lawyers.). The action has been filed in the United States District Court for the Southern District of Florida. The complaint alleges that "Rontan is wholly-owned by Joao Bolzan and Jose Bolzan. It is one of the world's largest manufacturers of original equipment for specialty vehicles for emergency management, first responders, national security, and law enforcement operations. The company also acquired NACSV, a supplier of Mobile Command Centers to Military, Law Enforcement, and First Responders". For more information about GDSI, visit http://www.gdsi.co.
About Harm Alarm and Gary Ball
Mr. Ball formed HarmAlarm in 2002 as a private Texas company to pursue Infrared commercial applications as a restricted "dual use" of Infrared technology, a US Government restricted technology. This last effort was the genesis of PALS. Mr. Ball's long history on EVS provided the insight into PALS. PALS will satisfy the present need for an affordable, robust, precision low visibility landing aid for general aviation. The precision and robustness of PALS has generated a host of new applications mainly through "landing trajectory" optimization which provides additional safety margin against weather related hazardous conditions, like wind shear, wake turbulence, icing, as well as low ceilings and fog.
Gary Ball received his formal education from California State University at Long Beach, a BSEE and an MSEE. Mr. Ball's long career in Aerospace has included design engineering, line management and senior business development positions at Ford Aeronutronic, Northrop and Hughes Aircraft. At HAC, Mr. Ball took the program lead on the acquisition of The Thermal Imaging Navigation Set (TINS) for the USN F-18. Upon award of the contract, Mr. Ball was asked to investigate the potential commercial applications of TINS. This effort was designated CLAS, standing for Commercial Landing Aid System that eventually evolved into Enhanced Vision System. Gulfstream received a Type Certification from the FAA in 2000 for this system. EVS was acquired by GAC under a previous License Agreement from Infrared Systems International (ISI), the manufacturer for many years. Gary Ball remained CEO of ISI until it was sold.
WEST PALM BEACH, FL / ACCESSWIRE / March 21, 2019 / Global Digital Solutions, Inc. (OTC PINK: GDSI), a company that is positioning itself as a leader in comprehensive security and technology solutions, has announced that the Administrative Action initiated by the SEC on December 26, 2017 has been dismissed by the Commission effective March 17, 2019.
William J. Delgado, GDSI's CEO, commented "I am grateful that the Commission and the ALJ presiding over the case were able to evaluate the extenuating circumstances in this matter. The company has been fully compliant with our reporting obligations since August 14, 2018 and we intend to remain so going forward."
Since May 16, 2016, the Company has made significant progress in eliminating adverse legal claims and reducing debt. It also has accomplished its first acquisition since 2014 (HarmAlarm). As previously announced, the Company has initiated legal action concerning a claim regarding the Rontan Metallurgica acquisition for $63,000,000. News regarding the Rontan/Bolzan lawsuit should be forthcoming in the next few weeks.
About Global Digital Solutions, Inc.
Global Digital Solutions, Inc. (OTC: GDSI), a company that is positioning itself as a leader in comprehensive security and technology solutions, continues to enhance shareholder value in these areas. In addition to our acquisition strategy, the Company has initiated a lawsuit for damages against Grupo Rontan Metalurgica, S. A, ("Rontan"
and that company's controlling shareholders, Joao Alberto Bolzan and Jose Carlos Bolzan. The Company has engaged the law firm of Boies Schiller Flexner LLP to represent it in this action. The case will be handled by William Isaacson of the firm's Washington office and Carlos Sires of the firm's Fort Lauderdale office (Their professional profiles are available at https://bsfllp.com/lawyers.). The action has been filed in the United States District Court for the Southern District of Florida. The complaint alleges that "Rontan is wholly-owned by Joao Bolzan and Jose Bolzan. It is one of the world's largest manufacturers of original equipment for specialty vehicles for emergency management, first responders, national security, and law enforcement operations. The company also acquired NACSV, a supplier of Mobile Command Centers to Military, Law Enforcement, and First Responders". For more information about GDSI, visit http://www.gdsi.co. About Harm Alarm and Gary Ball
Mr. Ball formed HarmAlarm in 2002 as a private Texas company to pursue Infrared commercial applications as a restricted "dual use" of Infrared technology, a US Government restricted technology. This last effort was the genesis of PALS. Mr. Ball's long history on EVS provided the insight into PALS. PALS will satisfy the present need for an affordable, robust, precision low visibility landing aid for general aviation. The precision and robustness of PALS has generated a host of new applications mainly through "landing trajectory" optimization which provides additional safety margin against weather related hazardous conditions, like wind shear, wake turbulence, icing, as well as low ceilings and fog.
Gary Ball received his formal education from California State University at Long Beach, a BSEE and an MSEE. Mr. Ball's long career in Aerospace has included design engineering, line management and senior business development positions at Ford Aeronutronic, Northrop and Hughes Aircraft. At HAC, Mr. Ball took the program lead on the acquisition of The Thermal Imaging Navigation Set (TINS) for the USN F-18. Upon award of the contract, Mr. Ball was asked to investigate the potential commercial applications of TINS. This effort was designated CLAS, standing for Commercial Landing Aid System that eventually evolved into Enhanced Vision System. Gulfstream received a Type Certification from the FAA in 2000 for this system. EVS was acquired by GAC under a previous License Agreement from Infrared Systems International (ISI), the manufacturer for many years. Gary Ball remained CEO of ISI until it was sold.
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