Gunbroker’s Chief Strategy Officer and Chief Financial Officer Placed On Leave

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Gunbroker’s Chief Strategy Officer and Chief Financial Officer Placed On Leave

SCOTTSDALE, AZ -(Ammoland.com)- AMMO, Inc. placed Steven Urvan, Chief Strategy Officer, and Susan Lokey, Chief Financial Officer of GunBroker.com, on administrative leave, claiming the pair of possibly “misappropriated the Company’s data and digital assets.”

“The company has reason to believe 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,” AMMO Inc. said in its press release.

AMMO, Inc. is the parent company of GunBroker.com, which it acquired from Mr. Urvan in a $240 million merger in 2021. Mr. Urvan became the head of a new organization called the Urvan Group. The new group became the largest shareholder of AMMO, Inc. The Urvan Group holds a 17.1% stake in the parent company. Ms. Lokey is also a member of the Urvan group. In addition to the Urvan group, Urvan owns 20,040,000 shares of common stock, and Lokey holds 40,000 of common stock in AMMO, Inc.

The suspension comes just weeks after Urvan announced his intention to replace the entire Board of AMMO, Inc.

“In an August letter to shareholders, Urvan wrote that he planned to “nominate a full slate of highly qualified director candidates, including myself, for election to the Company’s Board at this year’s Annual Meeting.”

The current Board of AMMO, Inc. responded by disagreeing with Mr. Urvan’s assertions and said it would provide shareholders with more information later.

“AMMO’s Board and management team are focused on executing on our strategy to drive long-term shareholder value. We disagree with many of the assertions and analysis contained in the public comments from Mr. Urvan and will be providing additional information for our shareholders in coming days and weeks. In the meantime, the Board and management team remain committed to ensuring AMMO is operated for the benefit of all its shareholders. We continue to invite all shareholders and other stakeholders to share with us their views and perspectives on these topics,” the Board wrote.

It appears that yesterday’s press release was that additional information. The Board of AMMO, Inc.’s claimed that Urvan’s attempt to replace the Board was a way to block the investigation into the misappropriation of data. AMMO, Inc told AmmoLand News that the information that was taken was transferred just to Urvan’s other entity. The company does not believe customer information was shared beyond that entity.

“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,” AMMO Inc. said in its press release.

The Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) has recently been visiting people’s homes that purchased Rare Breed FRT-15 triggers and solvent traps from GunBroker.com. Most visits were tied to a GunBroker.com seller named RifleRemedy2000. The website user claimed that he turned over no information to the ATF and pointed the finger back at GunBroker.com. When the news of the misappropriated data broke, some argued that the “data leak” was how the ATF got the customer information. AmmoLand News does not believe that to be the case.

This situation was not a traditional data leak. No data was stolen by hackers or by any government agency. AMMO, Inc. confirmed that the misappropriation of data had nothing to do with any RifleRemedy2000 or any government operation. AMMO Inc claims no data has been transferred to any government agency.

Mr. Urvan and Ms. Lokey have not commented on the AMMO, Inc. Board’s action.


About John Crump

John is a NRA instructor and a constitutional activist. John has written about firearms, interviewed people of all walks of life, and on the Constitution. John lives in Northern Virginia with his wife and sons and can be followed on Twitter at @crumpyss, or at www.crumpy.com.

John Crump

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Ope

These two scumbags are exactly the types that would happily and voluntarily turn over any customer information the ATF requested. Including exact payment method, descriptions of all transactions, shipping dates and personal information, etc. There’s no way in hell the ATF could have this information otherwise. These surprise visits to law-abiding citizens by ATF are a direct result of these inside snitches.

Boom

Just imagine when the collaborators are your neighbors

Russn8r

And “LEOs” like Ope who think cops shouldn’t be accountable for “Just Following Orders” or anything else. He’s against even shunning them. Claims the cop who machine gunned unarmed Daniel Shaver did the right thing.

Daniel Shaver and daughters.png
Boom

DANIEL SHAVER

Arny

I guess you never listened to William E Binny that worked for the NSA over 30 years.

Sixgun_Symphony

There is no such thing as privacy when buying online or mail order as there are records kept that can be subpoenaed. For that matter, do not use credit/debit cards as the banks will have a record of the sale too.

Cash is king.

Gdubb

Obviously there is someone on the inside at GB who is leaking. A rat, if you will. Probably a liberal. There is no other logical explanation.

Arny

I wonder who their IT support team is ? I wonder if they have any affiliations to IT-ISAC ? They go by many synonyms & antonyms. All Govt affiliated. The Govt saves every keystroke. They just need a fall guy to not reveal how they obtained the info.

Russn8r

Or just jackboot-lickers & authority-worshiping quislings, like the folks at NSSF referring to their “PARTNERS” at ATF, DoJ & “Law Enforcement”.

Boom

Killers never smile. Whatta bunch of pussies.

Boom

Faggotssaydownvote?

Russn8r
Last edited 17 days ago by Russn8r
mgkdrgn

Well, looks like I picked the perfect time to drop my FFL and stop dealing with GunBroker!

Watch um

Seems, the NRA is not the only one having problems. I understand they are two different organizations but both are dealing with leadership problems. AMMO’s Board and management team are focused on executing on our strategy to drive long-term shareholder value. We disagree with many of the assertions and analysis contained in the public comments from Mr. Urvan and will be providing additional information for our shareholders in coming days and weeks. In the meantime, the Board and management team remain committed to ensuring AMMO is operated for the benefit of all its shareholders. We continue to invite all shareholders… Read more »

Russn8r

All but a few of NRA’s 76 directors are part of its “leadership problem”. In on the grift so they can’t fire LaPew. The “Winning Team” vampires will keep bleeding it white right to the bitter end.

Last edited 18 days ago by Russn8r
Sixgun_Symphony

NRA members get a ballot, there just has to be a concerted effort to replace the incumbents.

Charlie

I used them before the merger but once that happened I could tell something was off so I stopped. By that time I had located several different sources for buying firearms and now deal direct. Got tired of being sniped at the last minute and the shipping fees were getting ridiculous. There are much better deals available than what you find on GB unless you are looking for something unusual.

StLPro2A

You never got sniped on GB unless you call 15 minutes since last bid being sniped. DUH!!!

Boom

You got that right.

Tank

Yep. GB is a corrupt scam & everything is digitally tracked & monitored there. Zero customer service. I avoid them as much as possible.

Sixgun_Symphony

All online transactions are digitally tracked and monitored.

So too does the bank keep records on all of your purchases with checks and debit/credit cards.

Only use cash if you want privacy.

Chuck

Haven’t ever used them, but with the ATF visiting GB Customers, I’m glad I didn’t jump on anything they’re selling.

Bubba

The nuts on here are jumping to conclusions again.
It sounds like his other company will benefit from the customer information.
He should be charged with embezzlement and sent to prison. Based on this article we have no idea if the information was for any other purpose including giving it to any government entity.
The problem is if all that data becomes part of a federal investigation, they will have all the data and evidence. Now we have a problem with government overreach.

Boom

Yeah.

Buuuuut, given the current climate …. . . . .

don133

This is indicative of the entire organization. They allow scammers on their site and they refuse to acknowledge their responsibility. The insurance that they offer appears to be another scam. They just ignore you until you go away. I used to think they were absolutely great until I got compromised. They really couldn’t care less. Jail time sounds good.

Sixgun_Symphony

How could they really know that a hacker from the FBI or ATF did not copy files?

Russn8r

Haven’t trusted GunBroker since I started to open an account to sell some non-gun, non-ammo stuff. They wanted unnecessary info useful for ID theft & 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 info with that 3rd party, as well as, sook it seems, ATF.