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Buy & Restart AutoMag?

Printed From: AMT Guns information
Category: Auto Mag Pistol
Forum Name: Message Board
Forum Description: Message Board
URL: http://www.amtguns.info/forum_posts.asp?TID=3012
Printed Date: 27 Mar 2026 at 4:34am
Software Version: Web Wiz Forums 12.06 - https://www.webwizforums.com

Topic: Buy & Restart AutoMag?

Posted By: OBURMT
Subject: Buy & Restart AutoMag?
Date Posted: 29 Jul 2025 at 6:21pm

Is there any interest in the 220 AutoMag people who were on the deposit list who did not get an AutoMag becoming investors and restarting the company? I would invest $10,000.00 to be guaranteed one new AutoMag and 1% of the profit. Investments could go such as $30,000.00 get 3 AutoMags and 3% of profits. Every other gun built would go to an investor until all investors have their guns.

Replies:

Posted By: GBertolet
Date Posted: 30 Jul 2025 at 4:29pm

I am a bit baffled on the cause of this bankruptcy. Was it because the company was poorly run, and has no remaining capital? Covid? Or was it because the investors were not getting expected returns on their money, getting cold feet, and wanted to liquidate the remaining assets to get their money back?

AutoMag was slowly shipping guns, but was the down payment money of the 220 customers, already spent for startup, and the expenses of building previous guns, leaving nothing left to complete current guns? This is a common business practice, to use customer money for startup, but it can bite you in the butt if things go sideways.

Was this the cause? OR, if the investors did not file suit forcing bankruptcy, would AutoMag still be viable, and be producing guns? The world wants to know, especially the 220!