BRS Sues Founder, Allegedly Stole $15 Million

By John Honovich, Published Feb 13, 2017, 01:06pm EST (Info+)

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 ******

*** ** *** ****** ***** **** to ********* **** **** **** *********** was **** ** *** *** **** a ******, *********** **** *** ********* success *** **** ** *** *******'* success / ****. **** **** ********** that.

Petition ******

**** *** ** **** ***** **** / *** / ***** ********.

Antiques **********

*** ***** ******* ** *** ******** is ***** * ********** ******:

*** ********* *.*. ****** ******** ***** that *.*. ******’* ********* ******* *** be ***** ** *** ******* *******, Springvale, ********, *********. ** *** **** a ****** ****** ****** *** *.*. Farrow, *** ***** ******** **** *.*. Farrow ** ** ********** *** ****** away ** ***** **, **** *** is ****** ** *** ********** ********* Cemetery. *** ********** ********* ******** ** located ** -- **** **** ****** -- *** ******* *******, **********, ********, Australia.

*** ******** ******* **** ***** **** ******* funds ** *** ******** ** **** a ******* ******:

** *** ** *.*. ******? ** reality, *.*. ****** ** *** ****** -- ** *********** ****** ***** ** the ****** ******* *** ********* ******** and **** * ******* ** ******** to *** *****. ******* ************** ******* *** Davis *** *** ****** ****** ****** marketed **** ******** ** ** “******* bangle,” * “********* ********,” “***** **** rings,” *** “******** ****** ******,” ***** Ray ***** ****** ** ******** ** he ***** “**** * ******* ******” when ** *******.

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

**** **, ** **** $* ******* in ******** ** '*****':

**** **** *.*. ******, ********** ********** and ******* *** ** **** ****** two ***** ******** ** ** ****** named ***** **************

*** *** **** *****? ********* *** Davis.

***** ** * *********** ********** ** and ********* ***** *** **** ** Wyoming.... * ***** ****** ** *** Wyoming ********* ** *****’* ******* ********** Afcon’s “*********/********” ** **** ***** **** Ray *****.

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

****** $* ******* ** **********:

** *****, ********** ********** *** ******* BRS ** **** ******** ** ********** Group ** ** ****** **$*,***,***.**.

*** *** ******** ******* ********** **** not *****:

***** ** ** ******** ******* *** and ********** *****, *** *** ***** any ******* ** *** ******* (********* any ****** **********) ******* **** ********** Group ******** *** ******** ** *** at *** ****. ******** *** **** Blackstone ***** ****** **********, ***** ** no *** ******** *** **** * company, *** *** ******* ** *** “invoices” ** *** * **** *******....  That *******, *******, ** *** ** office ******** ** ***** ********** ******** operates. ******, ** ** *** ******** of * *** *****.

*** ******** ***** ****** ** *** Davis:

** *** ***** ********* ** *** Company’s *******, **** *** ********* * payment ** ********** *****, * ************ was ******** ** ***’* **** ** Blackstone ******* *** *****’* ******** ***** *******! ** ******* ** *** ***only Company employee notified of the transactions with Blackstone Group.

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

**********, * ******* ***** '******' ** alleged:

** ****** **** ** ** ******** to ****** *** *** **** *** first ** ********** ** **** ******* that ****** ******** **, ******, * mirage – ********* ********, ******* ********* or *******. *** ***** ****** *** agreement **** ****** ********, ***** ********* business **** ****** ******** *** ***** did ******** ** *********. **********, ***’* records *** ****** ** * ****** invoice **** ****** ******** ********** *** payment ** ****** $*.* ******* ** Company *****, *** ***** ** ** email ******* *** *** ********* *** Mirage ********.

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

*** **** / ***** **** *** long ***** ******* ***** *** ******. However, ** *** ****** ****** ** have **** ******** *** ********, ** company *** **** ***** ** *** in ***** ** ***** ******* ********, so **** ** *** **********. ****** how **** '*** * ***' ***** investors **** ****** ** ** **** *** the ******** **** *** ******* ** worryingly ****** ** ***** ***** ***********.

***** *********** *** **** *** *** money ***** ** ** **** ** well, ** ** **** **** ***** from **** ** **** ** ***** Gray.

Comments (16)

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

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My vote is for John Lithgow. 

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The Giant Gray goose is cooked.

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

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

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Giant Grift.

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

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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.

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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.

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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. 

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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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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.

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

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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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