PALM BEACH, Fla., Aug. 15, 2014 /PRNewswire/ -- Global Digital Solutions, Inc. (OTCQB:GDSI), a company that is positioning itself as a leader in providing cyber arms technology and complementary security and technology-related solutions, today provided an update on the Company's involvement in the Airtronic USA, Inc. ("Airtronic") bankruptcy case.
On May 14, 2014, GDSI received $1,509,055.63 in full payment of its outstanding loans to Airtronic. On June 12, 2014, GDSI received $414,760.83 that the Company was awarded for legal fees and expenses incurred. GDSI's involvement with Airtronic and its bankruptcy proceedings has now concluded.
Interested parties may review all of the proceedings in the case (Airtronic USA Inc. – Case No. 12-09776) through the US Bankruptcy Court, Northern District of Illinois Official Court Electronic Document Filing System ("PACER"). Please use the following link: https://ecf.ilnb.uscourts.gov/. Those wishing to access the PACER system will first need to create a PACER account, which can be done here (https://pacer.psc.uscourts.gov/pscof/regWizard.jsf).
About Global Digital Solutions, Inc.
Global Digital Solutions is positioning itself as a leader in providing cyber arms technology and complementary security and technology-related solutions. On June 18, 2014, GDSI announced the acquisition of North American Custom Specialty Vehicles, LLC (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 NACSV's suite of advanced vehicles, click here or visit http://www.gdsi.co/nacs_vehicles.html. 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 28, 2014, and in our other filings with the U.S. Securities and Exchange Commission.
Contact:
Richard J. Sullivan
561-515-6163
info@gdsi.co
SOURCE Global Digital Solutions, Inc.