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  1. #1
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    Adams Arms Up For Auction

    A few days old, but looks like Adams Arms is 5 Million in the hole with the creditors banging at the door.

    http://www.moeckerauctions.com/aucti...9shzQA7_27J7vo

  2. #2
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    Then from RecoilWeb: http://www.recoilweb.com/adams-arms-...on-149036.html

    Ever wanted to own a firearms manufacturing company and have someone else do all the legwork? If so, here’s your chance because Adams Arms is up for public auction.


    Photo courtesy of Moecker Auctions, Inc.
    Turnkey Operation
    We recently learned about the Notice of Public Sale of Collateral for Adams Arms LLC. Adams Arms is a firearms and accessories manufacturer based out of Odessa, Florida. The listing states “Adams Arms LLC will be sold as a complete turnkey operation (1-lot auction sale).”


    Adams Arms Staff at SHOT Show 2019
    The sale will “include all tangible and intangible assets owned by Adams Arms, LLC, including accounts, registered patents, registered trademark, instruments and/or investment documents, furniture, fixtures, equipment, inventory and related property.” Over 370 pictures showing some of the assets are uploaded to the auction website.


    Photo courtesy of Moecker Auctions, Inc.
    Important Dates
    Public Auction: April 30, 2019 at 11:00 AM
    Full day inspection: April 29, 2019 from 10 AM to 4 PM
    Private inspections are available upon request
    The auction will be held on-site at Adams Arms:
    1551 Gunn Highway, Odessa, FL 33556


    Photo courtesy of Moecker Auctions, Inc.
    Partial Terms
    The auction listing provides the following partial terms:

    All items are as is, where is, with no warranty expressed or implied.
    Subject to confirmation.
    Registration deposit: $20,000 refundable cash/certified funds and valid state issued ID.
    10% Buyer’s Premium will apply.
    Successful bidder is required pay in cash or cashier’s check ten percent (10%) of the Collateral purchase price immediately following conclusion of the sale which shall be nonrefundable, and must remit the balance due in cash or cashier’s check within five (5) days following the sale.

    Photo courtesy of Moecker Auctions, Inc.
    But Why an Auction?
    We reached out to Adams Arms because the public auction notice came as a surprise to us. More often than not, companies will quietly transfer ownership, liquidate assets, or will file for bankruptcy. Since neither seems to be happening, we wanted to know what was really going on.

    Adams Arms Chairman, Paul Miller said, “Our secured debt has come due. The creditors are having all the assets auctioned together as a turnkey operation. We are continuing to sell, deliver and service our wide range piston-driven firearms, parts and kits. I fully expect for Adams Arms customers to be serviced under new ownership after the auction.”

    The lender is conducting a public sale due to “default by Adams Arms…” Additionally:

    At any time before the sale, all appropriate parties may redeem the collateral in accordance with your rights under Chapter 679 of the Florida Uniform Commercial Code, by tendering payment of all obligations secured by the collateral which will be in excess of $5,173,372 in principal and interest, plus expenses reasonably incurred by the undersigned in retaking, holding, and preparing the collateral for disposition, and in arranging for the sale, and for reasonable attorneys’ fees and legal expenses.

    https://www.dailydac.com/public-noti...dams-arms-llc/
    Long story short, it’s time for the lender to collect their money, and the auction is their plan of action.

  3. #3
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    Seems like they were expanding when they should have been scaling back over the last few years. I think a recession is coming... Its not just the firearm industry.
    Check out this list, its pretty long of stores that closed in 2018 and 2019 will be worse. https://clark.com/shopping-retail/ma...-closing-2018/
    Its not just buisnesses, States are either bankrupt or are going bankrupt: https://www.zerohedge.com/article/32...ent-ca-mi-ny-w

    You cant print money to the tune of 85 Billion a month with nothing backing it and just keep pumping it into an economy. Eventually something is going to explode. Bubbles will start popping, my guess is the 500 trillion dollar derivitive bubble will pop and collapse the whole house of cards.

    I think we are overdue for a major stock market correction and at well over 100 trillion in debt, its a good time for the general population to tighten things up and not expand... Personally I am getting out of debt and will spend the rest of my days cash flow positive. Rainy days ahead... I think right now is the calm before the storm.
    Last edited by Stone; 14 April 2019 at 19:37.
    The best way to survive a violent encounter is to be the one inflicting the most violence.

  4. #4
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    Quote Originally Posted by Stone View Post
    Seems like they were expanding when they should have been scaling back over the last few years. I think a recession is coming... Its not just the firearm industry.
    Check out this list, its pretty long of stores that closed in 2018 and 2019 will be worse. https://clark.com/shopping-retail/ma...-closing-2018/
    Its not just buisnesses, States are either bankrupt or are going bankrupt: https://www.zerohedge.com/article/32...ent-ca-mi-ny-w

    You cant print money to the tune of 85 Billion a month with nothing backing it and just keep pumping it into an economy. Eventually something is going to explode. Bubbles will start popping, my guess is the 500 trillion dollar derivitive bubble will pop and collapse the whole house of cards.

    I think we are overdue for a major stock market correction and at well over 100 trillion in debt, its a good time for the general population to tighten things up and not expand... Personally I am getting out of debt and will spend the rest of my days cash flow positive. Rainy days ahead... I think right now is the calm before the storm.
    I 100% agree with you. Peter Schiff has been calling this for awhile. Way too much quantitative easing going on.

    I'm not in the camp of look at all these businesses going out of business. I think a lot of that is technology, times are changing. People are naturally shifting how they spend their money, but they still spend their money. Just because a business like Sears and Kmart have been in business 100+ years doesn't mean they have the right to survive. However, the trillions in underfunded liabilities from Medicare/caid, Social Security, retirements, ect, the national debt a drop in the fucking bucket compared to these liabilities. None of the parties seem to want to do anything other than kick the can further down the road.

    I've stayed out of debt, not sure if hoarding cash is the right strategy, but we are definitely saving for the inevitable rainy day. All these millennials will have a tough time selling their "experiences" when the day comes.

  5. #5
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    Ever thought about diversyfying some of that cash into precious metals? Silver/Gold...
    The best way to survive a violent encounter is to be the one inflicting the most violence.

  6. #6
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    Quote Originally Posted by Stone View Post
    Ever thought about diversyfying some of that cash into precious metals? Silver/Gold...
    ...Brass/Lead

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    I was going to throw that in there but I figured most folks here are nose deep in ammo at these current prices...
    The best way to survive a violent encounter is to be the one inflicting the most violence.

  8. #8
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    Quote Originally Posted by UWone77 View Post
    I 100% agree with you. Peter Schiff has been calling this for awhile. Way too much quantitative easing going on.

    I'm not in the camp of look at all these businesses going out of business. I think a lot of that is technology, times are changing. People are naturally shifting how they spend their money, but they still spend their money. Just because a business like Sears and Kmart have been in business 100+ years doesn't mean they have the right to survive. However, the trillions in underfunded liabilities from Medicare/caid, Social Security, retirements, ect, the national debt a drop in the fucking bucket compared to these liabilities. None of the parties seem to want to do anything other than kick the can further down the road.

    I've stayed out of debt, not sure if hoarding cash is the right strategy, but we are definitely saving for the inevitable rainy day. All these millennials will have a tough time selling their "experiences" when the day comes.
    I honestly had to stop following the monetary policy news because it's too depressing. As a result, I was slightly under the impression that the quant easing had been much reduced over the past few years and perhaps we'd backed away from the cliff a bit. If you understand central banking, fiat currency, and our unfunded liabilities and wacky government accounting, it's not too hard to envision a very bad break down in our society within a fairly short time horizon. I'll now put my head back in the sand and enjoy life as if nothing is wrong.

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    We are long overdue for a correction. I believe this is the 2nd longest time of economic expansion in American history. Get out of debt if you aren't already, save some money and get ready to buy shit when it's cheap. I plan to buy a rental house when the market tanks again. Just sayin'!

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    Quote Originally Posted by MoxyDave View Post
    We are long overdue for a correction. I believe this is the 2nd longest time of economic expansion in American history. Get out of debt if you aren't already, save some money and get ready to buy shit when it's cheap. I plan to buy a rental house when the market tanks again. Just sayin'!
    In real estate in my area, I see a leveling off, and a slight dip. Maybe different in your area, but real estate here has been expensive and likely always be extensive.

  11. #11
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    Quote Originally Posted by Stone View Post
    Ever thought about diversyfying some of that cash into precious metals? Silver/Gold...
    Some, not a lot.

    Quote Originally Posted by BoilerUp View Post
    ...Brass/Lead
    Pretty much this. I don't have the right property yet... we've been looking the last 6 months for the right opportunity/property, but haven't found it yet. But once we do, we're going to invest more in prepping. Not for a societal collapse, but more, when some shit does hit the fan, short term civil unrest, natural disaster, ect. I just want to chill at home and watch the chaos unfold from my living room. While people fight over scraps, I plan to hunker down until thing go back to normal.... whatever that maybe.

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    Quote Originally Posted by UWone77 View Post
    Some, not a lot.



    Pretty much this. I don't have the right property yet... we've been looking the last 6 months for the right opportunity/property, but haven't found it yet. But once we do, we're going to invest more in prepping. Not for a societal collapse, but more, when some shit does hit the fan, short term civil unrest, natural disaster, ect. I just want to chill at home and watch the chaos unfold from my living room. While people fight over scraps, I plan to hunker down until thing go back to normal.... whatever that maybe.
    This is my approach and it already paid off.

    For one we have natural disasters where I live. One decent hurricane and you can be without power for a few weeks. Not all prepping takes the form of guns.

    Where it also paid for itself was during the Obama scare. I was periodically giving away 50 or 100 rounds of 9mm. Because I stacked when I could I had one of the biggest igloo chest coolers they make stacked to top with loose 9mm rounds and I could have filled it up at least two more times just with what I had on hand.

    I didn't try to make money from it but I also got my components cheaper and I didn't have to do the Wal mart fight or even shop when things were insane.

  13. #13
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    Quote Originally Posted by UWone77 View Post
    In real estate in my area, I see a leveling off, and a slight dip. Maybe different in your area, but real estate here has been expensive and likely always be extensive.
    Probably will be here too. Colorado Springs is always taking a top spot in "Best Places to Live" in various publications, and with all the military bases here housing is always at a premium. That said, even a slight reduction in prices will be welcome ...

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