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!!!!!!

Agree: 2
Disagree
Informative
Unhelpful
Funny: 1

My vote is for John Lithgow. 

Agree: 4
Disagree
Informative
Unhelpful
Funny

 

Agree
Disagree
Informative
Unhelpful: 1
Funny: 2

Agree
Disagree
Informative
Unhelpful
Funny: 1

The Giant Gray goose is cooked.

Agree
Disagree
Informative
Unhelpful: 1
Funny: 2

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

Agree
Disagree
Informative
Unhelpful
Funny: 1

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

Agree
Disagree
Informative
Unhelpful
Funny: 2

Giant Grift.

Agree
Disagree
Informative
Unhelpful: 1
Funny: 2

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

Agree
Disagree
Informative
Unhelpful
Funny

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.

Agree: 1
Disagree
Informative
Unhelpful
Funny

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.

Agree
Disagree
Informative
Unhelpful
Funny

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. 

Agree
Disagree
Informative: 1
Unhelpful
Funny

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

Agree: 1
Disagree
Informative: 1
Unhelpful
Funny

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.

Agree: 2
Disagree
Informative
Unhelpful
Funny

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

Agree
Disagree
Informative
Unhelpful
Funny

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 :)

Agree
Disagree
Informative
Unhelpful
Funny: 1
Read this IPVM report for free.

This article is part of IPVM's 7,275 reports and 969 tests and is only available to subscribers. To get a one-time preview of our work, enter your work email to access the full article.

Already a subscriber? Login here | Join now
Loading Related Reports