Prime ammo being forced into temporary closure by ruag/Norma.

Discussion in 'Main Message Board' started by chevytruck_83, Apr 15, 2019.

  1. 69mach

    69mach Silver $$ Contributor

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    Any of their other business dealing aren’t my business. Im going to continue to buy ruag/Norma products because they are good products at a fair enough price and they have served me well. This dirty laundry should be taken care of in the court system not on YouTube.
     
  2. pirate ammo

    pirate ammo Guaranteed to take the wind out of their sails Gold $$ Contributor

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    darn, your talking about me,,:eek::eek::eek::eek::eek:
     
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  3. Crunchy21

    Crunchy21

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    I would love to hear the other side of the story, but I am usually pulling for the underdog/little guy no matter what.
     
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  4. JimT

    JimT “I don’t even own a piece of camo!”-Kenny Jarrett Gold $$ Contributor

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  5. ebb

    ebb

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    I don't read legalize too well but it sounds like Prime didn't pay for the ammo like they were supposed to. But the you tube video talking head said on several occasions they had paid 100 % of the cost of the ammo. Wonder who is telling the truth?????
     
  6. JimT

    JimT “I don’t even own a piece of camo!”-Kenny Jarrett Gold $$ Contributor

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    They paid 100% for a relatively small portion of the total they were provided. As of early 2018 they had almost $2.5 million of ammunition they had never paid for.
     
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  7. Dusty Stevens

    Dusty Stevens COVFEFE- Thread Derail Crew Gold $$ Contributor

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    Yea they owed $2.5m then placed another order, which had to be paid in full, then that money was applied to the old debt instead of the yet to be produced ammo. Seems legit to me. Hard to get credit for more stuff from a guy you already owe money to.
     
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  8. JimT

    JimT “I don’t even own a piece of camo!”-Kenny Jarrett Gold $$ Contributor

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    Not true. See Section 44 of the complaint where RUAG asks permission to hold the money and ammunition in escrow until the lawsuit is adjudicated. At no time did RUAG attempt to use the almost $400000 prepayment to offset the larger amount Prime owed them.
     
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  9. biggen0_8

    biggen0_8 Gold $$ Contributor

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    You know who the real winner in all of this is going to be?
     
  10. Daveinjax

    Daveinjax Silver $$ Contributor

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    Prime owes RUAG $772,000 but RUAG took the order for the Creedmore and accepted $399,000 prepaid and agreed to deliver it despite the outstanding debt. RUAG is on shaky ground holding the ammo. They should have cut Prime off instead of accepting a prepaid order. The fact that RUAG took the order and money and then failed to deliver it is going to cost them more than the $772,000 still owed. Looking at the requested judgment it seems that RUAG wants the Prime name brand and business model. Prime obviously missed the market wants on much of their products but the business model looked like it would work. RUAG is thinking that they can tie it up in court and Prime having no money for lawyers will have to fold. RUAG can then sell the products and keep the name brand. If Prime can hold out the fact that RUAG took the money and didn’t deliver the products will leave them liable for Primes financial trouble.
     
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  11. Dusty Stevens

    Dusty Stevens COVFEFE- Thread Derail Crew Gold $$ Contributor

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    Theyll still be stuck with a warehouse of saum ammo. Maybe they can market it like the creedmoor where these guys will think its a new thing
     
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  12. daleboy

    daleboy Silver $$ Contributor

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    Armchair speculation...gets silly at times.
     
  13. JimT

    JimT “I don’t even own a piece of camo!”-Kenny Jarrett Gold $$ Contributor

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    Primes financial trouble was obvious well before the prepaid order! See exhibit C and D of the complaint. In fact, if the assertions made in those 2 exhibits are true the fact that Prime was able to borrow almost $400,000 and not use it to pay their outstanding obligations to RUAG seems to be somewhat fraudulent.
     
  14. Daveinjax

    Daveinjax Silver $$ Contributor

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    Yes Prime’s financial trouble was well known to RUAG and they took a prepaid order anyway and then didn’t deliver. Prime was not hiding their troubles.
     
  15. JSH

    JSH

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    Lol,dunno why I keep reading this let alone posting.
    A few things come to mind here, most have been addressed.
    I worked for a fellow that had a lot of sayings. Easy to remember and things to live by.

    If anyone try’s to gives you something for nothing, run like hell.
    A parasite makes the most noise when removed from the host.
    Look before you leap.
    Give a fool enough rope and he will hang himself.

    If the above parties would have taken heed to any or all of these this conversation would not exist.

    It is a sad day when a mans hand shake and his word is worthless.

    Sun is shining and no wind. Burning good daylight, time to get to the range;)
     
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  16. Melt215

    Melt215

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    RUAG kept Jims cash to send their kid to USC
     
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  17. davidjoe

    davidjoe Skunkworks Gold $$ Contributor

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    That is what it sounds like to me, too. Forget the legalese for a minute, when a person operating on another's dime implies in a public video statement that he has some kind of economic interest to protect in a simple cartridge load recipe, of his friend’s no less, raise those eyebrows. And on a different level, this is Norma you think needs your recipe, brother. Norma. They’ve been making much, much more demanding cartridges for Weatherby longer than many of us have been alive.
     
  18. Ccrider

    Ccrider Gold $$ Contributor

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    Ruag agreed to provide the prepaid for ammo. They breached that contract.

    Prime agreed to pay for previously supplied ammo and breached that contract.

    The damages flowing from Ruag’s breach will be greater than the damages it suffered by Prime’s breach. Fool move on Ruag’s part. Should have followed through with its agreement, provided the ammo, and sued for the money owed, rather than suckering Prime into sending the money and keeping it. It is likely that their will be proof of Ruag’s fraudulent intent. Stuff like this will piss a jury off. It’s one thing to struggle to pay your bills as a start up business. And quite another to get big boyed and hoodwinked by what will be perceived as a bully in the marketplace.
     
  19. riflewoman

    riflewoman Gold $$ Contributor

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    I wouldn’t be so sure. From my take RUAG has produced the product and it sits in a warehouse. RUAG won’t ship until Prime makes good on the old debt, or at least makes some good faith effort to pay some of the debt. Prime appears to be in material breach. RUAG is trying to mitigate their potential loss by holding on to the ammo so they can recoup their receivable. They can sell the ammo and credit towards the Prime debt.
     
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  20. JimT

    JimT “I don’t even own a piece of camo!”-Kenny Jarrett Gold $$ Contributor

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    I haven’t been able to locate that contract for the $400,000, can you post a link to it?
     

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