GUNWERKS CEO - UPDATED PUBLIC STATEMENT

Len Backus

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Staff member
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May 2, 2001
Messages
6,731
This is Len.

I hate it when good people and companies are hammered unfairly.

And then it is very hard to get the true word out there.

Here is Aaron's official statement from the Gunwerks website.
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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
 

Bait57

Well-Known Member
Joined
Jan 22, 2020
Messages
73
Location
North Dakota
I was always taught that there are three sides to every story. Today more than ever, there are numerous misleading stories that only cover a one sided version of things.

I’ve never been able to buy anything from Gunwerks because it’s so far outside my price range. I may be able to one day but not now. The work I have seen from them on here and other sites has been beautiful.
 
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manitou1

Well-Known Member
Joined
Mar 27, 2012
Messages
66
Location
Missouri
I think SOMEBODY owes SOMEBODY an apology 😁...like several dozen or more wolf mentality folks that love attacking people and entities with little proof or factual documentation. Not saying on this site particularly, but it was brutal on some other sites.
I have said it before: It's no wonder we have not overwhelmingly won the battle over gun rights and hunting... I have never seen another group of people so judgemental and willing to crucify others. Instead of coming to the aid of others when the heat is applied, we kick them when they are down. As a hunting and shooting community we have the passion, intelligence and monies to defeat handily any and all opposition... but cannot due to our own pure stubbornness and bully mentality.
 

Stiltsville

Banned
Joined
May 20, 2020
Messages
311
Location
Florida,USA
If what GW says is correct, they should immediatly file a countersuit and demand a public apology from WFCO CEO. Given all the trouble WFCO has been in, they are really stupid. They should also f/u with elected reps to get it read into Congressional record.
 

gearguywb

Well-Known Member
LRH Team Member
Joined
May 7, 2020
Messages
90
Location
KC
The damage to the brand is immeasurable. If all of the above is true, WFC needs to be slapped hard.
 
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