suzukiray Posted March 2, 2015 Report Share Posted March 2, 2015 (edited) I got an email from Ares today stating that they had been sold to Lake House Capital Management! I hope that isn't a shell company of our government looking for their lists of buyers!!!! They have a ton of stuff on sale now but is it worth it??? Ray. Edited March 2, 2015 by suzukiray Quote Link to comment Share on other sites More sharing options...
Rsquared Posted March 2, 2015 Report Share Posted March 2, 2015 Yeah, I heard that too. Apparently their a Illinois-based holding company (or something like that). Quote Link to comment Share on other sites More sharing options...
slugger43 Posted March 3, 2015 Report Share Posted March 3, 2015 I'm kind of into "wait and see" mode. Why would you sale price the goodies if you are planning to stay in business? Thought that notice was kind of poorly worded and short on info. Hope anybody with info on this will post it here asap. The phrase "bought the assets of" is a little disconcerting, me being a skeptic, and all...... Quote Link to comment Share on other sites More sharing options...
slugger43 Posted March 3, 2015 Report Share Posted March 3, 2015 Aha! Here's more info. All I got was the basic announcement, nothing else, forwarded. I feel a little better. http://aresarmor.com/store/NewsArticle/Ares_Armor_Acquired?utm_content=nat%40natpalmer.com&utm_source=VerticalResponse&utm_medium=Email&utm_term=Full%20details%20can%20be%20read%20here%2E%2E%2E%2E&utm_campaign=Ares%20Armor%20Acquired%20by%20Lake%20House%20Capital%20Managementcontent Quote Link to comment Share on other sites More sharing options...
98Z5V Posted March 3, 2015 Report Share Posted March 3, 2015 Yeah, I heard that too. Apparently their a Illinois-based holding company (or something like that). Lake House Capital Management, LLC, is a company with an annual revenue of $120,000, and employs 2 people. Public information, easy to find. I find it suspicious. Quote Link to comment Share on other sites More sharing options...
slugger43 Posted March 3, 2015 Report Share Posted March 3, 2015 So as I understand it, the previous guy still has a 30% stake in the company? I think I'm stuck at "wait and see". I find it suspicious. Suspicious makes a helluva lot of sense to me. Quote Link to comment Share on other sites More sharing options...
98Z5V Posted March 3, 2015 Report Share Posted March 3, 2015 I ordered another BCG tonight, and cashed in my previous purchase points on it. Cashed out, in a way. Just being safe - who knows what will happen. Quote Link to comment Share on other sites More sharing options...
survivalshop Posted March 3, 2015 Report Share Posted March 3, 2015 May be to take ATF heat off of him & the Company <dontknow> Quote Link to comment Share on other sites More sharing options...
98Z5V Posted March 3, 2015 Report Share Posted March 3, 2015 Letter to Customers Published: 03/02/2015 02:38:06 PM TO: ARES ARMOR CUSTOMERS FROM: DIMITRIOS KARRAS SUBJ: You Guys Rock! DATE: March 2, 2015 I am no longer the CEO of Ares Armor. I am however, still the CEO of Lycurgan, Inc. which was previously operating under the name Ares Armor prior to selling most of it’s assets to Lake House Capital Management. I am still working at Ares Armor and I own 30% of the new corporation. There are several reasons for this sale. Firstly, Lycurgan, Inc., formerly known as Ares Armor, has been engaged in a fairly aggressive and public legal battle against the ATF. This battle is both time consuming for myself and very expensive for the Company. Having a CEO who is from the financial world, running the day to day operations of the Company, allows me to focus my energies towards this legal battle and other endeavors that I believe are important to the future, such as the 99% Lower Receiver™. Secondly, Lake House Capital Management has pledged a portion of their profits to helping mine and Lycurgan’s fight against the ATF. My first priority is this battle. They cannot be allowed to get away with their unconstitutional actions. Losing is not an option for me. The damages that have been done to Lycurgan, Inc. by the ATF are extensive and are now into the millions of dollars. We have been blessed by having absolutely wonderful human beings as customers who have supported us through these trying times. With Lake House Capital Management and Bryce Stirlen as a backer, we will be able to continue to improve our business operations while at the same time be positioned for a very long and expensive battle with the ATF. I cannot express my gratitude enough to our customers. I would not have been able to get this far against such a powerful foe without you. I do not take your contributions lightly. I owe it to all of you to put every amount of energy and effort that I can muster into ensuring that justice prevails. This is not just my fight. It is all of ours. There is nothing that I will not do or sacrifice to ensure they are punished for their actions. They have gotten away with their crimes for far too long. I cannot thank you enough for everything you have done. I will not fail you. I will not give up. On the topic of “other endeavors”… For those of you who don’t know yet: I recently walked into an ATF office in Indiana with a neon sign stating that I had what they considered to be an illegal firearm for sale. I offered to sell a hundred 99% lowers™ straight to the ATF Agent that was questioning me. I walked out without being arrested or having a scratch on me. I will be following up with a full explanation on how 99% lower receivers™ are legal under the GCA and exactly why the ATF didn’t have the guts to arrest me. Sincerely, Dimitrios Karras Quote Link to comment Share on other sites More sharing options...
blue109 Posted March 3, 2015 Report Share Posted March 3, 2015 ummmm....fukk yea. team America. Quote Link to comment Share on other sites More sharing options...
MikedaddyH Posted March 3, 2015 Report Share Posted March 3, 2015 What is "Missing" on the 99% receiver.(process not done) ?? Quote Link to comment Share on other sites More sharing options...
98Z5V Posted March 3, 2015 Report Share Posted March 3, 2015 I'm sure we'll find out. Can't wait to see it, also. American Spirit Arms has been vending the 95% receiver for quite awhile, so it's gotta be similar. Quote Link to comment Share on other sites More sharing options...
blue109 Posted March 3, 2015 Report Share Posted March 3, 2015 (edited) maybe trigger pin holes?...since it can't be a firearm without those holes. if that's the case, ill be buying a pile of them. Edited March 3, 2015 by blue109 Quote Link to comment Share on other sites More sharing options...
jtallen83 Posted March 4, 2015 Report Share Posted March 4, 2015 Hell Yeah, Ares rocks! A Galoot like me might even be able to handle a 99%'er! Quote Link to comment Share on other sites More sharing options...
suzukiray Posted March 9, 2015 Author Report Share Posted March 9, 2015 I just looked at American Spirit Arms & what they call a 95% looks just like all 12 of the 80%ers I have. Maybe just a marketing gimmick to get people to buy theirs instead? Ray. Quote Link to comment Share on other sites More sharing options...
EasyEJL Posted March 9, 2015 Report Share Posted March 9, 2015 the 95% usually refers to the back pivot pin pocket being milled out if I recall right. makes doing the FCG pocket milling a little simpler I think Quote Link to comment Share on other sites More sharing options...
shepp Posted March 12, 2015 Report Share Posted March 12, 2015 maybe trigger pin holes?...since it can't be a firearm without those holes. if that's the case, ill be buying a pile of them. Hell yea!!!! Can't be to hard to make a jig and drill those out bet I could even do that lol Quote Link to comment Share on other sites More sharing options...
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