Armed Polite Society
Main Forums => The Roundtable => Topic started by: MechAg94 on September 08, 2022, 02:22:38 PM
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AMMO Inc. Announce that Employees Have Been Placed on Administrative Leave
https://www.ammoland.com/2022/09/ammo-inc-announce-that-employees-have-been-placed-on-administrative-leave/?ct=t(RSS_EMAIL_CAMPAIGN)
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.
They aren't saying what they did with the data. My first thought was "data breach" or something political, but I guess there could be other reasons.
https://seekingalpha.com/news/3880452-ammo-inc-drops-after-cfo-chief-strategy-officer-put-on-administrative-leave
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[tinfoil] mode on
ATF and/or some anti-gun group
[tinfoil] mode off
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My money is on the CFO and CSO being involved in a parallel business, using the GunBroker demographics to drum up a customer base.
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I agree with AZRedhawk. They were using the info to make money.
The ATF doesn't seem to have any trouble getting the Gunbroker info they need directly from the sellers. Why bother with a data breech?
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My money is on the CFO and CSO being involved in a parallel business, using the GunBroker demographics to drum up a customer base.
Lets hope thats the issue. Based on the quick, uh, 'dismissal', we can assume. Typically a security flaw or hack breach is swept under the rug for as long as possible.
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Ammo Inc started as Jagemann Munitions about 10 miles from where I live. I know a few people that work there, the upper management suffers from cranial rectal insertion syndrome.
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I know several there too. Bedlamite is actually being overly polite in his assessment
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My money is on the CFO and CSO being involved in a parallel business, using the GunBroker demographics to drum up a customer base.
DING! DING! DING!
That was my immediate guess, as well.
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The Chief Strategy Officer strategized that lifting the customer database and other intellectual property would make the founding of his competing company much smoother.