AMMO Inc. Announce that Employees Have Been Placed on Administrative Leave

AMMO Inc. Announce that Employees Have Been Placed on Administrative Leave
AMMO Inc. Announce that Employees Have Been Placed on Administrative Leave

U.S.A.-(AmmoLand.com)- AMMO, Inc. (Nasdaq: POWW, POWWP) (“AMMO” or the “Company”), the owner of GunBroker.com, the largest online marketplace serving the firearms and shooting sports industries, and a leading vertically integrated producer of high-performance ammunition and components, today announced that Steven Urvan, Chief Strategy Officer, and Susan Lokey, Chief Financial Officer of SpeedLight I, LLC d/b/a GunBroker.com, have been placed on administrative leave with immediate effect.

The Company has reason to believe that these individuals may have misappropriated the Company’s data and digital assets and transmitted that data to a third party controlled by Mr. Urvan and with which Ms. Lokey is associated. The Company commenced an internal investigation into the alleged misconduct several weeks ago. During the pendency of the investigation, these individuals will remain suspended from their duties.

The Company’s board of directors has formed a special committee (the “Special Committee”) in connection with the conduct of Mr. Urvan. The Special Committee issued the following statement:

We are deeply concerned by the preliminary results of our investigation to date. We are committed to ensuring that all aspects of the Company’s business are conducted with integrity, transparency and oversight. The Company seeks to protect its data and digital assets against all forms of misappropriation.

Mr. Urvan was aware of our concerns and our prior attempts to investigate and discern more information. We believe that his recently announced proxy contest to replace the entire Board may be, at least in part, an attempt by Mr. Urvan to thwart our investigation and driven by his desire to avoid accountability.

Nevertheless, we will continue our thorough investigation into the alleged misconduct. We will conduct this investigation with the urgency and diligence it deserves, and we will take responsive or preventative actions that the Special Committee determines to be appropriate.

In the meantime, to protect the Company and its customers, stockholders and other stakeholders, the Special Committee has determined to place these individuals on administrative leave. It is untenable to allow these individuals continued access to the Company’s systems, data, property or employees while the investigation is underway and until we fully understand the nature and scope of their prior actions.

In the meantime, we remain committed to delivering exceptional and innovative products and experiences for outdoor sporting enthusiasts that drive value for our shareholders and other stakeholders.

The Company currently does not expect the investigation to yield any findings that impact the financial results, balance sheet or business prospects of the Company.


About AMMO, Inc.

With its corporate offices headquartered in Scottsdale, Arizona, AMMO designs and manufactures products for a variety of aptitudes, including law enforcement, military, sport shooting and self-defense. The Company was founded in 2016 with a vision to change, innovate and invigorate the complacent munitions industry. AMMO promotes branded munitions as well as its patented STREAK ™ Visual Ammunition, /stelTH/™ subsonic munitions, and specialty rounds for military and law enforcement use via government programs. For more information, please visit: www.ammo-inc.com.

About GunBroker.com

GunBroker.com is the largest online marketplace dedicated to firearms, hunting, shooting and related products. Aside from merchandise bearing its logo, GunBroker.com currently sells none of the items listed on its website. Third-party sellers list items on the site and Federal and state laws govern the sale of firearms and other restricted items. Ownership policies and regulations are followed using licensed firearms dealers as transfer agents. Launched in 1999, GunBroker.com is an informative, secure and safe way to buy and sell firearms, ammunition, air guns, archery equipment, knives and swords, firearms accessories and hunting/shooting gear online. GunBroker.com promotes responsible ownership of guns and firearms. For more information, please visit: www.gunbroker.comGunBroker.com

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Arizona

So who are they selling all the customers’ info to? FBATFE or Giffords?

AZ Lefty

Probably the Chinese or Saudis like Trump

Boom

Good morning re-rard.

Montana454Casull

You and Joe Biden are proof you can’t fix stupid .

JSStryker

You can fix stupid but it’s gonna hurt…

Tackleberry

Lots and lots of napalm…

Oldvet

Tackleberry/ Wild Bill…There is a web page you may be aware of called War on the Rocks .. the letter from past top bass can be found there . It sure sounds like they are trying to tell current military something !

Wild Bill

Is there a Green, non-petroleum, nonpoluting version to keep the Woke crowd happy?

Tackleberry

Actually yes. We retired the napalm formulation in the 80s. The stuff we replaced it with is far nastier stuff, but “better for the enviroment!” I invite you to read up on the Mk-77 Incendiary canisters: https://en.m.wikipedia.org/wiki/Mark_77_bomb

Wild Bill

I am comforted by the fact that it is nastier stuff.
I see an alternative to GB in the October Guns and Ammo. The new site is called Gunspot.com ! I am going there shortly.

USMC0351Grunt

Actually we can fix stupid but it is definitely going to HURT!

Tackleberry

When the mistake is big enough, the pain only lasts but for an instance.

Ope

Montana, there are some pilgrims on this site that are just ate up with the dumbass. He should take AZ out of his handle because he’s an embarrassment to that great state.

Bobtail

I see you were dropped on your head repeatedly. My condolences for your injuries.

Ope

Bobtail, you’re right, it’s head went into the deck hard several times. Plus, it suffered from severe oxygen depravation to the brain at birth.

Last edited 22 days ago by Ope
JY

AZ how does Biden taste because you have some on your shirt.

Oldvet

mom should have kept the AB thrown him away !
mom made a mistake didn’t correct it .

Ope

Oldvet, Queen Elizabeth is dead. Charles is now King !

Boom

Yeah, and that piece of shit rift raff whore camella is queen.

Russn8r

RIP QEII. She was great. God help Britain now.

“The Queen is Dead. Long Live Charles The Tampon!”

Grigori

LOL! Back in the 70’s, I was reading a Penthouse Forum or similar magazine someone had left in the office, one slow night. These magazines were questions and answers as well as personal stories readers supposedly sent in of their sexual adventures. One in particular that made me laugh went like this:
“I just had my first bj yesterday. I have one question, though. How do I get this taste out of my mouth?”
S/ Prince Charles
Wales, UK

Russn8r

LOL, probly true. I suspect the sock puppet downvote tag team here, Officer Ope-TEX, WB & MICHAELANGELO, probly could benefit from the answer too.

Wild Bill

That is a terrific anecdote!

Wild Bill

That is the only reason that history will record his name (in an obscure footnote.)

Ope

Bill, very true. Plus, the witch Camella will be known as Consort Queen. I think that means she won’t have any type of royalty powers.

Russn8r

Do you two lovers ever get off each other? It’s pretty obvious.

Last edited 21 days ago by Russn8r
musicman44mag

Sorry you are in a bad mood today.

Wild Bill

I suppose that being in a good mood is difficult for him, knowing that only Azlefty likes him.

Tackleberry

Bad mood? That fool needs constant meds.

Oldvet

Ope …az not charles

musicman44mag

Congratulations, you have collected more down votes than anyone I have ever seen, mine included.

Boom

I think that’s the point, it likes that. It makes it happy. It thinks it’s done a good job

Wild Bill

It is one of the only collections that he can afford.

Russn8r

“GunBroker.com is an informative, secure, safe way to buy & sell firearms, ammo”

Don’t sound safe no more. Informative, yes, for ATF et ilk.

I haven’t trusted GunBroker since I started to open an a/c to sell some non-gun, non-ammo stuff. They wanted unnecessary info useful for ID theft or worse. When I requested deletion of the incomplete account & info already provided, first they blew it off by sending irrelevant links, then said they had no way to delete it. That BS came from zendesk, so GunBroker clearly shares your info with that 3rd party too.

swmft

back to selling on street corners with the hookers

Wild Bill

Gun shows.

swmft

same thing, and local gun boards

USMC0351Grunt

ALWAYS SUPPORT YOUR LOCAL GUN SHOWS! DevilsAdvocateArmory.com

Tackleberry

No, no, the hooker idea might just work as a marketing angle…

Wild Bill

Well, they are very good at packaging for advertisement!

MICHAELANGELO

Dummy

Ope

You have limp brain figured to a tee!

Russn8r

You low-IQ Gay Caballero pards just can’t get off my junk, can you Officer Ope-TEX-Bruce-Will-FordWill et socks?

USMC0351Grunt

I have evidence that corroborates with your statements.

Oldvet

YES

Ansel Hazen

Have been wondering same. AFT has been targeting buyers connected to GunBroker, and the only way I can think that info got out was folks at Gunbroker rolled over.

swmft

this should keep them from ever getting another job ,not even the progressives will hire someone they know is untrustworthy

Ral3312

Don’t bet on it the left LOVES liars and cheats

Boom

That’s an “asset” to them…

USMC0351Grunt

The left would consider them a well-trained asset.

Grigori

Isn’t this the dipstick company that was sending thousands of rounds of ammo to Ukraine to help prop up the corrupt Zelenskyy/Biden government against Russia’s righteous attempt to set things back to normal there? Glad I bought nothing from them and do not intend to buy from them.

Boom

YES! I finally meet someone that’s not a dumbass about that situation.

Rob

Sounds like you two are the dumbasses. Better hide your CPA cards.

Boom

Fuck off sheep for brains

Grigori

Are you signing up to go fight for Zelenskyy and Biden?

Grigori

Thank You, Sir! Same here!

Tionico

You got some info and support for that claim? Something that will stand up to some careful examination?

Boom

You mean something like common sense?

Grigori

What do you want? Prior to 2014, when Obama was in Office, Ukraine had a Moscow-friendly government. With the help of our State Department, their Moscow-friendly president or whatever was replaced with a DC (Obama admin) friendly one. Since that time, Zelenskyy was made their head man and the likes of Joe and Hunter Biden have lived well and prospered from their relationship with the corrupt Ukraine government.

Roverray

Gezz guys, l know the Ukraine has it’s troubles and I’m tired of our stupid leadership giving them billions but for Christ’s sake Russia has no business there at all. Too bad the old Ukraine government agreed with removing all the nuclear weapons from their country, if they only kept one, this bullshite wouldn’t have happened.

Boom

How do you know Russia doesn’t have any business there?

Finnky

You know we’ve had administrations which worked closely with the Mexican government. Possibly downright friendly. Does that give Mexico the right to annex Texas? Pretty sure we wouldn’t need help from US military to stop them. Doesn’t sound so reasonable when you look at it that way, does it? Ukraine is a separate country and like us need to protect the sanctity of their borders. Putin faced problems at home, so he created an external enemy and started a war. Using an age old technique to cement power at home. Biden faces challenges to his authority, so he creates enemies… Read more »

Boom

I’m so glad that one face out of 7.5 BILLION souls has the right answer…the answer only the highest ranked diplomats could put into practice. No, again; we have no idea what the real reasons are for Russia being in the ukraine is…IF they’re even in the ukraine. Regardless, almost everything you think, you were programmed to do so…think you’re stronger minded than that? Ok, you might be. It’s pretty obvious that any given country needs to protect the sovereignty of its borders .. what’s a LOT less obvious, Is why things happen… Do you really think Putin, as pragmatic… Read more »

Last edited 18 days ago by Boom
Ronnie

Leftist / Liberals – who are Gun Haters – You Have YOUR IDEAS – Millions of OTHER CITIZENS Have THEIRS! If you DON’T LIKE GUNS – DON’T ‘BUY ONE’ = Just stop PUSHING YOUR NEGATIVE BULLSHIP On the MAJORITY! We all live in THE USA! WE HAVE A CONSTITUTION FOR A REASON ! Our Makers of THE CONSTITUTION & Declaration of Independence – Used SPECIFIC TEXT & LANGUAGE for a Reason! As to NOT BE MISCONSTRUED By EVIL POLITICIANS! TO GET FULL “POWER OVER THE PEOPLE ( Majority)! If it were NOT FOR BRAVE COLONISTS THAT USED THE RIFLES FROM… Read more »

USMC0351Grunt

This all sounds good but, WHO or WHAT are you responding to?

Boom

He’s just putting it out..

Ram

He needn’t yell at the choir. Glad that Ronnie is on board,
although his sudden awareness is a bit late to the game.

Boom

Haha, may be he’s just a loud talker…and maybe he’s posted the same thing on all the other forums.. he’s just trying to be consistent… Maybe he’s just now getting around to this platform..haha.

JY

Watch your credit card statements. I have one credit card that is used for GB only and I noticed 2 charges on that card that I did not make from Ammo Inc which shows up as outdoor online on my statement with there phone number. I called ammo Inc to make sure they dont have another company that I may have purchased from that they use the same credit card processing and spoke too a women who told me she would have the person call me that handles that stuff. I never heard from here and had more card canceled… Read more »

Felixd

Sounds like an internal power struggle.

RepealNFA

Did the criminal organized crime atf buy them off to give them data?

Finnky

“Nice business you have here. Shame if something happened to it.”

Hardly the same as buying them off – though in the end differences are irrelevant. Outcome is the same.

TStheDeplorable

They don’t identify who the “third party” is that received the data. I wonder if it was the ATF, or perhaps the Census agency which has been asking businesses for data on people purchasing firearms and accessories.

Ram

Was this the chief strategy officer that implemented the concept of advertising guns on competitive websites at enormous mark-up,
then offering those same guns on GB for a reduced (still overpriced)
price-point?

Tank

GB was bought & controlled opposition years ago. No customer support, tons of mis-billed & incorrectly assessed fees. They also digitally track everything. Enjoy the charade Clown Show.

Patriot Solutions

That sweet ol death cult satanist that used to work on the moter pool trucks is going on leave too as she is being gently removed from the board even though she was well protected in the past by her brain washed statists right here in the comments section.

PS, They executed her a long time ago and rightfully so. The scummy trash got what she deserved.