BRS Sues Founder, Allegedly Stole $15 Million

By: John Honovich, Published on Feb 13, 2017

The disaster of BRS Labs continues to unfold. 

BRS Labs, after $100+ million in investment and now known as Giant Gray, has sued their founder Ray Davis and his son:

The deceit employed by Defendants to conceal their fraud and breach of duties knew no bounds and went undetected for years -- resulting in their theft of more than $15 million from the Company

We have obtained the company's petition in Texas court and it reads like a Hollywood screenplay.

Inside this note, we examine the issues involved and the future for BRS / Giant Gray.

*** ******** ** *** Labs ********* ** ******. 

*** ****, ***** $***+ million ** ********** *** *** ***** ** ***** Gray, *** **** ***** founder *** ***** *** his son:

*** ****** ******** ** Defendants ** ******* ***** fraud *** ****** ** duties **** ** ****** and **** ********** *** years -- ********* ** their ***** ** **** than$** *********** *** *******

** **** ******** *** company's ******** ** ***** court *** ** ***** like * ********* **********.

****** **** ****, ** examine *** ****** ******** and *** ****** *** BRS / ***** ****.

[***************]

No ******

*** ** *** ****** Davis **** ** ********* when **** **** *********** was **** ** *** not **** * ******, emphasizing **** *** ********* success *** **** ** the *******'* ******* / exit. **** **** ********** that.

Petition ******

**** *** ** **** Giant **** / *** / ***** ********.

Antiques **********

*** ***** ******* ** the ******** ** ***** a ********** ******:

*** ********* *.*. ****** invoices ***** **** *.*. Farrow’s ********* ******* *** be ***** ** *** Princes *******, **********, ********, Australia. ** *** **** a ****** ****** ****** for *.*. ******, *** would ******** **** *.*. Farrow ** ** ********** who ****** **** ** April **, **** *** is ****** ** *** Springvale ********* ********. *** Springvale ********* ******** ** located ** -- **** roll ****** -- *** Princes *******, **********, ********, Australia.

*** ******** ******* **** ***** used ******* ***** ** buy ******** ** **** a ******* ******:

** *** ** *.*. Farrow? ** *******, *.*. Farrow ** *** ****** -- ** *********** ****** based ** *** ****** Kingdom *** ********* ******** and **** * ******* of ******** ** *** Davis. Regular ************** ******* *** Davis *** *** ****** reveal ****** ******** **** antiques ** ** “******* bangle,” * “********* ********,” “roman **** *****,” *** “luristan ****** ******,” ***** Ray ***** ****** ** purchase ** ** ***** “open * ******* ******” when ** *******.

Afcon ********** - $* *******

**** **, ** **** $4 ******* ** ******** to '*****':

**** **** *.*. ******, Defendants ********** *** ******* BRS ** **** ****** two ***** ******** ** an ****** ***** ***** Communications

*** *** **** *****? Allegedly *** *****.

***** ** * *********** registered ** *** ********* under *** **** ** Wyoming.... * ***** ****** at *** ******* ********* of *****’* ******* ********** Afcon’s “*********/********” ** **** other **** *** *****.

Blackstone ********** - ~$* *******

****** $* ******* ** Blackstone:

** *****, ********** ********** and ******* *** ** make ******** ** ********** Group ** ** ****** of$*,***,***.**.

*** *** ******** ******* Blackstone **** *** *****:

***** ** ** ******** between *** *** ********** Group, *** *** ***** any ******* ** *** Company (********* *** ****** whatsoever) ******* **** ********** Group ******** *** ******** to *** ** *** time. ******** *** **** Blackstone ***** ****** **********, there ** ** *** presence *** **** * company, *** *** ******* on *** “********” ** not * **** *******....  That *******, *******, ** not ** ****** ******** in ***** ********** ******** operates. ******, ** ** the ******** ** * UPS *****.

*** ******** ***** ****** to *** *****:

** *** ***** ********* in *** *******’* *******, when *** ********* * payment ** ********** *****, a ************ *** ******** by ***’* **** ** Blackstone ******* *** *****’* ******** email *******! ** ******* ** was ***only Company employee notified of the transactions with Blackstone Group.

Mirage - $*.* *******

**********, * ******* ***** 'Mirage' ** *******:

** ****** **** ** no ******** ** ****** who *** **** *** first ** ********** ** this ******* **** ****** Software **, ******, * mirage – ********* ********, without ********* ** *******. BRS ***** ****** *** agreement **** ****** ********, never ********* ******** **** Mirage ******** *** ***** did ******** ** *********. Remarkably, ***’* ******* *** devoid ** * ****** invoice **** ****** ******** justifying *** ******* ** almost $*.* ******* ** Company *****, *** ***** is ** ***** ******* any *** ********* *** Mirage ********.

The *** ** *** / ***** ****?

*** **** / ***** Gray *** **** ***** stopped ***** *** ******. However, ** *** ****** decade ** **** **** covering *** ********, ** company *** **** ***** to *** ** ***** of ***** ******* ********, so **** ** *** surprising. ****** *** **** 'mom * ***' ***** investors **** ****** ** in this *** *** ******** ones *** ******* ** worryingly ****** ** ***** their ***********.

***** *********** *** **** and *** ***** ***** to ** **** ** well, ** ** **** more ***** **** **** is **** ** ***** Gray.

Comments (13)

Who plays Ray in the movie????  You could not write a better script!!!!!!

My vote is for John Lithgow. 

 

The Giant Gray goose is cooked.

There already is a screenplay for this.  Sounds like they need to call in The Accountant!

So I guess they were not the "smartest guys in the room"....

Giant Grift.

So, which company is the next BRS/Giant Grey?  Knightscope?  

So, which company is the next BRS/Giant Grey? Knightscope?

That's funny because at least 3 people have independently made that comparison to me recently.

I actually don't agree, mainly because Knightscope has a real product that works (at least the fundamentals, I am excluding the hidden gun detection, etc.) and the founders seem more legit than BRS.

However, the way inflated expectations and the turn to raise money from mom n pops does draw some parallels. But my read on Knightscope is that this is just normal Silicon Valley shoot for the moon type execution rather than BRS bs.

That's a lot of mom n pops to fund $100 million.  But I know 3 business associates who invested in the company in the initial stages.  What a shame.

But I know 3 business associates who invested in the company in the initial stages.

3? Wow. How sad.

San Diego seemed to be a 'hotbed' for BRS Labs investors. One person who contacted me saying that they were an investor said that they were introduced by a waiter in a super high end restaurant. Strange deal. 

Ray Davis has a brother that lives in San Diego and managed to recruit a lot of investors from Southern CA.

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