The Globe reported last Sunday that Brown received stock initially worth $1.3 million to join the advisory board of the firm, which has no revenue, no products, no trademarks, no patents, and only a “virtual office.” The stock has since declined by more than half.
Originally founded in 1995 to sell beauty products, Global Digital morphed into a wireless data company before repositioning itself last year as a weapons maker. Accountants who have looked at the company have said it was a risky investment.
Global Digital has announced a series of acquisitions that have not been completed. Among them was an announcement in March that it intended to buy Remington Arms Co. LLC, one of the world’s largest gun manufacturers, for more than $1 billion. That was greeted with derision by Remington and others in the industry. Global Digital has just four employees, and a market value of about $40 million
Friday, June 06, 2014
What was he really being paid for.
by Atrios at 11:23