The NEW Auto Mag!

tgt40 said:
Their goal is the high 2k's (u.s.) or about the current price of used automags...let's call it 2700 us so yeah 3500 and change. good call!
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That is not as bad as I was thinking. If we are able to get the New Auto Mag up here for between 3500 and 4000, I'd be happy. I guess it will also depend whether they opt to sell any in Canada or whether we will be stuck importing and if there are any supply and demand issues, etc.

tgt40 said:
Yep, its' another interesting chapter in the AM and in fact Ruger threatened to sue over the Baby Auto Mag and stopped it's sale. As always there's a lot to the story and if you're interested it's out there for you. BAM's are going for about 2700 US right now too... :(
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I'll have to check it out. Wow, 2700 for the 22. Wonder if any made it to Canada.
 
Here's the latest update - they're now seeking investors. The website I got this from:

https://www.equitynet.com/c/auto-mag-ltd-corp

I thought an important excerpt is:

"We are in the process of making the second prototype run that should be available for testing October/November. If this gun meets all are requirements we will go into production in the December / January 2017 time frame. We expect to net over $2,000,000 in the first 12 months of production. We have also had two large firearm companies indicate interest in buying the company."
 
Man I hope someone comes through as I really want one of these. An 8.5" would be sweet.
 
I've received a correspondence indicating they're planing to test the first production run next week and start actual production early in the new year!
 
I wonder how far away we are from seeing these in Canada. Hope they sell a small batch to a Canadian distributor or I guess we'll have to use a broker.
 
maxman1 said:
Rumour has it a diver had to be kept on the set of Sudden Impact because Clint kept throwing the AutoMag off the pier when it jammed.
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Ya I doubt it. He was a well known fan of the gun during the filming of that movie.
 
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The original Auto Mag company got finance by doing custom runs of pistols for High Standard etc
It would be interesting to know how many are already here. Allen Lever sold them back in the day.
Ammo was made in Mexico under a custom basis, so one didn't have make their own brass and re load
 
We would expect that one percent equity would be worth $80,000.00USD now that just over a year later, we have brand new manufactured parts to sell. We expect to begin testing production quality .22 Conversion Kits in the next 30 to 60 days, and should have complete new firearms for sale by mid summer 2017.

We would consider selling less than a full percent in increments of $10,000.00USD on a very limited basis. Timing is everything and those requesting additional information first, will have the first opportunity.


80K for 1% equity? Jesus. At best the gun has a niche market and cult following. I resent the email with Sure, 80K sounds great at 15% equity (common shares and voting shares ((Both)) But honestly, that makes for an 8 million cash equity if you were to sell 100% as a publicly held share. 80K@1% does not equal any incentive as an investor for any kind of ROA. It's things like this that prevented the original AMT company from flourishing. But if you reconsider, please let me know.
 
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