Scottsdale-based Ammo Inc. announced that its chief strategy officer Steve Urvan has been placed on paid administrative leave, just a week after Urvan outlined plans toAmmo Inc. also placed Susan Lokey, the CFO of the parent company running GunBroker.com, the company's online gun sales site, on paid leave. Urvan founded GunBroker.com two decades ago and Ammo acquired the company last year.
Last week Urvan said he planned to nominate a full new board of directors to turn the business around at the company’s upcoming annual meeting. Urvan named seven people, including himself and Lokey, as his nominees to replace the board.may be an attempt to hinder the current board’s investigation and that Urvan may be trying to “avoid accountability.”
. “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.”Ammo Inc. said it does not believe the investigation will have any impact on its operating results.into two separate, publicly traded companies.
They should be investigating possible undisclosed related party transactions.
Take over with guns?