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Official Statement From Gunwerks CEO Regarding Wells Fargo Litigation
Cody, WY – May 22, 2020
The reports of Gunwerks’ demise are completely false. In fact, we’re crushing it! So far, 2020 has set records for sales performance and profitability, and it only gets better from here!
This week’s report of Wells Fargo filing a lawsuit has gotten a lot of attention. The bottom line is, the litigation has been settled, the entirety of our Wells Fargo operating loan has been paid off, and it is business as usual for Gunwerks.
The Wells Fargo narrative of Gunwerks’ financial distress was untrue. The dispute was never about Gunwerks’ financial condition or late payments, but about a difference of opinion on asset valuation. Within days of filing the suit, it has been settled and the case will be dismissed immediately.
Most of the stories circulating around the social media landscape are just wrong! Here are two good examples: In Wells Fargo’s narrative complaint filed in federal district court, they assert that Gunwerks was delinquent on sales tax payments. This is not true now and has never been true (Check here for a list of current delinquents in WY). They also allege that Gunwerks is late paying vendors. Again, this is untrue. We pride ourselves in dealing fairly with our vendors.
Unfortunately, despite our numerous good faith attempts to resolve the issues with Wells Fargo, the bank chose to file a lawsuit, which has now been settled. Fortunately, we had the resources to pay off the credit line within two business days of Wells Fargo filing suit. Our customers have really supported us this year with record sales. We’re on track to have our best performing year on record.
In 2020 Gunwerks will be announcing several new and innovative products that have been in development the past several years. Keep an eye out for an entirely new, next-gen rifle system engineered from the ground up, at least three more Skunkwerks projects, and new optics products and ballistic solutions in the Revic lineup.
The damage to Gunwerks’ reputation from Wells Fargo’s lawsuit will take quite a while to overcome, but with our team and a foundation of innovation and product quality, we see this as a minor incident. We’ve never been more excited about our business!
Sincerely,
Aaron Davidson, CEO Gunwerks
John, Have you gotten a check?
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Let's here from John Burns on this. The two stories are completely contradictory.
Tarquin
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No one can miss a year of withholding taxes without consequences.
Writing here is Prohibited by the authorities.
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Let's here from John Burns on this. The two stories are completely contradictory. Exactly what I was thinking.
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At least the part where I paid Wells Fargo nearly 3m bucks today is true!
It's easy to verify that we are not delinquent on sales tax.
Do we have any vendors claiming delinquent payments?
Read my statement again.
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Ben
Some days it takes most of the day for me to do practically nothing...
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At least the part where I paid Wells Fargo nearly 3m bucks today is true!
It's easy to verify that we are not delinquent on sales tax.
Do we have any vendors claiming delinquent payments?
Read my statement again. You sound crabby. I'd be crabby too if I was losing my business. I kid, i kid. I have no idea what Gunwerks is. I wish you years of success.
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Campfire Ranger
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At least the part where I paid Wells Fargo nearly 3m bucks today is true!
It's easy to verify that we are not delinquent on sales tax.
Do we have any vendors claiming delinquent payments?
Read my statement again. Hello Aaron, just wanted to stop by and say that you were an arrogant little asshat when I met you face to face at SCI (could've been DSC) a few years ago. Hopefully you've changed you tune. Adios Amigo.
It is irrelevant what you think. What matters is the TRUTH.
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At least the part where I paid Wells Fargo nearly 3m bucks today is true!
It's easy to verify that we are not delinquent on sales tax.
Do we have any vendors claiming delinquent payments?
Read my statement again. I'd sue the sheit out of somebody if I were you.
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At least the part where I paid Wells Fargo nearly 3m bucks today is true!
It's easy to verify that we are not delinquent on sales tax.
Do we have any vendors claiming delinquent payments?
Read my statement again. Hello Aaron, just wanted to stop by and say that you were an arrogant little asshat when I met you face to face at SCI (could've been DSC) a few years ago. Hopefully you've changed you tune. Adios Amigo. Sounds worse, now.
NRA Benefactor Member
Those who live by the sword get shot by those who don't.
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The notion that WF paid lawyers $400 per hour to draft and file a lawsuit when according to Mr. Davidson, GW was willing to pay all along is laughable. WF was forced to sue because they had no choice. You need to come clean Mr. Davidson.
Tarquin
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Campfire Ranger
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At least the part where I paid Wells Fargo nearly 3m bucks today is true!
It's easy to verify that we are not delinquent on sales tax.
Do we have any vendors claiming delinquent payments?
Read my statement again. I'd sue the sheit out of somebody if I were you. I would say having cash on hand to pay that debt on demand is a very strong play...... I personally would give Gunwerks the benefit of a doubt.... I like small business. Wells Fargo.... can GF..themselves.... proven shysters. I hope Burns is made whole....
Originally Posted by Judman
PS, if you think Trump is “good” you’re way stupider than I thought! Haha
Sorry, trump is a no tax payin pile of shiit.
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Campfire Tracker
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Joined: Apr 2019
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At least the part where I paid Wells Fargo nearly 3m bucks today is true!
It's easy to verify that we are not delinquent on sales tax.
Do we have any vendors claiming delinquent payments?
Read my statement again. I'd sue the sheit out of somebody if I were you. I would say having cash on hand to pay that debt on demand is a very strong play...... I personally would give Gunwerks the benefit of a doubt.... I like small business. Wells Fargo.... can GF..themselves.... proven shysters. I hope Burns is made whole.... They didn't have it on hand. They borrowed and then paid off WF.
Tarquin
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Joined: Aug 2009
Posts: 20,824
Campfire Ranger
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Campfire Ranger
Joined: Aug 2009
Posts: 20,824 |
At least the part where I paid Wells Fargo nearly 3m bucks today is true!
It's easy to verify that we are not delinquent on sales tax.
Do we have any vendors claiming delinquent payments?
Read my statement again. I'd sue the sheit out of somebody if I were you. I would say having cash on hand to pay that debt on demand is a very strong play...... I personally would give Gunwerks the benefit of a doubt.... I like small business. Wells Fargo.... can GF..themselves.... proven shysters. I hope Burns is made whole.... They didn't have it on hand. They borrowed and then paid off WF. And you know this how?
Originally Posted by Judman
PS, if you think Trump is “good” you’re way stupider than I thought! Haha
Sorry, trump is a no tax payin pile of shiit.
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Posts: 20,824
Campfire Ranger
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Campfire Ranger
Joined: Aug 2009
Posts: 20,824 |
At least the part where I paid Wells Fargo nearly 3m bucks today is true!
It's easy to verify that we are not delinquent on sales tax.
Do we have any vendors claiming delinquent payments?
Read my statement again. I'd sue the sheit out of somebody if I were you. I would say having cash on hand to pay that debt on demand is a very strong play...... I personally would give Gunwerks the benefit of a doubt.... I like small business. Wells Fargo.... can GF..themselves.... proven shysters. I hope Burns is made whole.... They didn't have it on hand. They borrowed and then paid off WF. Ok you stupid fugg..... I will ask again, in a different way, who would loan Gunwerks several million knowing they are in financial straights? A clue.... nobody.... you talking out your ass and hurting a small business man is bullshit... fuggin clown
Originally Posted by Judman
PS, if you think Trump is “good” you’re way stupider than I thought! Haha
Sorry, trump is a no tax payin pile of shiit.
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Posts: 5,819
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I have had conversations with both Aaron and Mike at SCI 2-3 times. I found Mike to be easier to talk with but Aaron seemed to always be the center of the scrum. I'd not put a lot of meaning into a brief conversation with anyone circled with a bunch of guys asking the same redundant question over and over again.
I found Craig Boddington pretty arrogant as well until I had lunch with him.
I certainly can't blame anyone for forming an opinion of someone after a brief meeting but have found that sometimes these opinions are not a true picture of the person.
Not going to own one of these ( systems ) but wish any small business GOOD LUCK
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No business of their size has that kind of cash on hand, your quarterly taxes prevent that from happening . That being said I have no idea of their business structing . if the are an " S" corp "C' corp maybe an LLC. or even a sole proprietorship .
Theirs lots of unanswered questions, but like others have said Wells Fargo are bottom feeds of the lending market , and it sounds like a bloon payment was either missed or comming up and the lack of funds available were not satisfactory to cover the total debt, so they got froggy trying to leapfrog the federal government.
Writing here is Prohibited by the authorities.
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Campfire Ranger
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The pettiness and envy of some people astounds me..... maybe some should put their money where their mouth is and start a small business.... I bet many of the mouthy fuggers here would fail in a few months..... fuggin clowns....
I hope all honest hard working small business succeed... spectacularly......
Originally Posted by Judman
PS, if you think Trump is “good” you’re way stupider than I thought! Haha
Sorry, trump is a no tax payin pile of shiit.
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Joined: Aug 2009
Posts: 20,824
Campfire Ranger
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Campfire Ranger
Joined: Aug 2009
Posts: 20,824 |
No business of their size has that kind of cash on hand, your quarterly taxes prevent that from happening . That being said I have no idea of their business structing . if the are an " S" corp "C' corp maybe an LLC. or even a sole proprietorship .
Theirs lots of unanswered questions, but like others have said Wells Fargo are bottom feeds of the lending market , and it sounds like a bloon payment was either missed or comming up and the lack of funds available were not satisfactory to cover the total debt, so they got froggy trying to leapfrog the federal government. Explain..... S corp, LLC is a pass through...... you make no sense
Originally Posted by Judman
PS, if you think Trump is “good” you’re way stupider than I thought! Haha
Sorry, trump is a no tax payin pile of shiit.
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