31/10/2018
I hope everyone has been well the last few weeks. We were informed by our attorneys late yesterday in South Florida and Brazil that Rontan and Joao Bolzan have accepted service in Brazil. Jose Bolzan was also served, but did not accept the service. This will require additional work to force acceptance in Brazil. It also appears that Rontan/Joao have engaged counsel to represent themselves in South Florida. This is tremendous news for GDSI. Although I believe we will see an upturn is activity on the case, this process is still somewhat time consuming. Each day that passes we get closer to our goal. I wish to restate an important fact as it pertains to the Rontan case. Our legal representation with BSF is fully funded. Although I am not at liberty to disclose the financial terms, other than those previously disclosed in the filings, the funding level is in the low to mid seven figures. We are very confident in our position. In other news, the Due Diligence related to the Harmalarm acquisition is continuing. I am hoping to wrap up the DD in the next week or so with closing in November. I expect to announce additional news shortly. Please look for press releases/8K's forthcoming.
