BRS Sues Founder, Allegedly Stole $15 Million

By John Honovich, Published Feb 13, 2017, 01:06pm EST

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.

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 (16)

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.

I just received a letter in the mail reminding me of my two months affair with Giant Gray - Their attorney seeking to recover fees accumulated.

This affirms my belief that a product marketing manager, should be technically capable enough to test the product they promote publicly.

Sagy, thanks! What did the attorney want? Are any of the investors ever going to get any money back?

It is a general notice offering anyone with any prior dealings with the company the opportunity to object to a motion seeking to recover lawyer's fees. There is a courtroom hearing scheduled for Dec 9, 2019 in Houston if you're interested, LOL :)

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