Global Digital Solutions, Inc. Files Additional Claims for Legal Fees and Associated Litigation Expenses

Global Digital Solutions Inc. (OTCPINK:GDSI) has filed a claim for $2,887,937 in legal fees following a court judgment.

Rhea-AI Summary

Global Digital Solutions Inc. (OTCPINK:GDSI) has filed a claim for $2,887,937 in legal fees following a court judgment. The claim includes attorneys' fees of $2,511,797, nontaxable expenses of $341,221, and taxable costs of $34,919. This action brings the total damages claimed to about $195 million. GDSI recently acquired Rontan Metalurgica, believing its valuation of approximately $134 million to be undervalued, especially with the growth in the EV market. CEO William Delgado expressed optimism about future joint venture opportunities in the EV sector.

Positive

• Filed claim for $2,887,937, indicating financial assertiveness.
• Total damages claimed reach approximately $195 million.
• Acquisition of Rontan Metalurgica enhances asset base.
• CEO optimistic about joint ventures in the growing EV market.

Negative

• None.

Argus Session date unavailable

-14.04% session move Open Argus

Details

News Market Reaction – GDSI

The recorded move for GDSI in the trading session of this news was -14.04%.

Data tracked by StockTitan Argus. Session date unavailable.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Filing Claim is for $2,887,937

WEST PALM BEACH, FL / ACCESSWIRE / February 23, 2021 / Global Digital Solutions Inc. (GDSI), (OTCPINK:GDSI), a company that is positioning itself as a leader in Automotive and Aviation Technology Solutions, announced today that it has filed, pursuant to this Court's entry of Final Judgment (DE 276), for an award of attorneys' fees in the amount of $2,511,797.00, nontaxable expenses related to attorneys' fees in the amount of $341,221.00, taxable costs in the amount of $34,919.00 and such other and further relief as the Court deems just and proper.

This filing will bring the specific performance portion of damages to approximately $195,000,000. It should be noted that with the court's order, GDSI is the owner of record of Rontan Metalurgica, including the plant, equipment and associated acreage.

William Delgado, CEO and Chairman of GDSI said, "We are pleased with this filing. The original valuation of the plant was in the approximate range of $134M USD. With the significant growth seen in the market for EV and alternative fuel vehicles, as well as increased manufacturing requirements, the Company believes that the plant is significantly undervalued from the original valuation and purchase price. As noted earlier, the Company is exploring Joint Venture opportunities within the EV and alternative fueled vehicles sector. We expect a win-win proposition for all parties involved."

About Global Digital Solutions, Inc.

Global Digital Solutions, Inc. (OTCPINK:GDSI), a company that is positioning itself as a leader in Automotive and Aviation Technology Solutions, continues to enhance shareholder value in these areas. We currently operate an Aviation Technology group focused on low visibility and airspace congestion safety. 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

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-Q filed on September 30, 2020, and in our other filings with the U.S. Securities and Exchange Commission.

Contact:

Richard Brown
nesscapconsult@gmail.com

SOURCE: Global Digital Solutions Inc.

View source version on accesswire.com:
https://www.accesswire.com/631252/Global-Digital-Solutions-Inc-Files-Additional-Claims-for-Legal-Fees-and-Associated-Litigation-Expenses

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What claim has GDSI filed?

GDSI filed a claim for $2,887,937 in legal fees and expenses.

What is the total damages amount claimed by GDSI?

The total damages claimed by GDSI is approximately $195 million.

What asset did GDSI acquire recently?

GDSI acquired Rontan Metalurgica, including its plant and equipment.

What market is GDSI focusing on for future growth?

GDSI is focusing on the electric vehicle (EV) and alternative fuel vehicles market.