AMMO, Inc. Appoints New Chief Financial Officer and Provides Corporate Update
AMMO, Inc. (Nasdaq: POWW) has appointed Paul Kasowski as its new Chief Financial Officer, effective immediately. Kasowski, who previously served as the company's Chief Compliance and Transformation Officer, succeeds Rob Wiley, who resigned at the Board's request. The Board believes Kasowski's experience will support efforts to create long-term value and mature as a public company.
Additionally, AMMO has disclosed that a Special Sub-Committee of the Board has initiated an independent investigation into the company's internal control over financial reporting for fiscal years 2020 through 2023. The investigation is in its early stages, and the company does not plan to comment further until its completion.
AMMO, Inc. (Nasdaq: POWW) ha nominato Paul Kasowski come nuovo Direttore Finanziario, con effetto immediato. Kasowski, che in precedenza ha ricoperto il ruolo di Direttore della Compliance e della Trasformazione dell'azienda, succede a Rob Wiley, che si è dimesso su richiesta del Consiglio. Il Consiglio crede che l'esperienza di Kasowski sosterrà gli sforzi per creare valore a lungo termine e per maturare come azienda pubblica.
Inoltre, AMMO ha reso noto che un Sottocomitato Straordinario del Consiglio ha avviato un investigazione indipendente sui controlli interni dell'azienda riguardo alla rendicontazione finanziaria per gli anni fiscali 2020 fino al 2023. L'indagine è nelle fasi iniziali e l'azienda non prevede di rilasciare ulteriori commenti fino al suo completamento.
AMMO, Inc. (Nasdaq: POWW) ha nombrado a Paul Kasowski como su nuevo Director Financiero, con efecto inmediato. Kasowski, que anteriormente se desempeñaba como Director de Cumplimiento y Transformación de la empresa, sustituye a Rob Wiley, quien renunció a solicitud de la Junta. La Junta cree que la experiencia de Kasowski apoyará los esfuerzos para crear valor a largo plazo y madurar como empresa pública.
Además, AMMO ha revelado que un Subcomité Especial de la Junta ha iniciado una investigación independiente sobre el control interno de la empresa sobre la información financiera para los años fiscales 2020 a 2023. La investigación se encuentra en sus primeras etapas, y la empresa no planea comentar más hasta su finalización.
AMMO, Inc. (Nasdaq: POWW)는 즉시 발효되는 새로운 최고재무책임자로 Paul Kasowski를 임명했습니다. Kasowski는 이전에 회사의 준수 및 변혁 최고 책임자로 재직하였으며, 이사는 Rob Wiley의 후임으로, Wiley는 이사회의 요청으로 사임하였습니다. 이사회는 Kasowski의 경험이 장기 가치를 창출하고 공기업으로 성장하는 데 도움이 될 것이라고 믿고 있습니다.
또한 AMMO는 이사회의 특별 하위 위원회가 2020 회계 연도에서 2023 회계 연도까지 회사의 재무 보고에 대한 내부 통제를 독립적으로 조사 시작했다고 밝혔습니다. 이 조사는 초기 단계에 있으며, 회사는 조사가 완료될 때까지 추가로 언급할 계획이 없습니다.
AMMO, Inc. (Nasdaq: POWW) a nommé Paul Kasowski en tant que nouveau directeur financier, avec effet immédiat. Kasowski, qui a précédemment occupé le poste de directeur de la conformité et de la transformation de l'entreprise, succède à Rob Wiley, qui a démissionné à la demande du Conseil. Le Conseil pense que l'expérience de Kasowski soutiendera les efforts pour créer de la valeur à long terme et pour mûrir en tant qu'entreprise publique.
De plus, AMMO a révélé qu'un sous-comité spécial du Conseil a lancé une enquête indépendante sur le contrôle interne de l'entreprise concernant le reporting financier pour les exercices fiscaux 2020 à 2023. L'enquête en est à ses débuts et l'entreprise ne prévoit pas de faire d'autres commentaires avant son achèvement.
AMMO, Inc. (Nasdaq: POWW) hat Paul Kasowski mit sofortiger Wirkung zum neuen Finanzvorstand ernannt. Kasowski, der zuvor als Chief Compliance and Transformation Officer des Unternehmens tätig war, folgt Rob Wiley nach, der auf Anfrage des Vorstands zurückgetreten ist. Der Vorstand ist der Ansicht, dass Kasowskis Erfahrung die Bemühungen unterstützen wird, langfristigen Wert zu schaffen und als börsennotiertes Unternehmen zu reifen.
Darüber hinaus hat AMMO bekannt gegeben, dass ein Sonderunterausschuss des Vorstands eine unabhängige Untersuchung der internen Kontrollen des Unternehmens über die Finanzberichterstattung für die Haushaltsjahre 2020 bis 2023 eingeleitet hat. Die Untersuchung befindet sich in einem frühen Stadium, und das Unternehmen plant keine weiteren Kommentare, bis diese abgeschlossen ist.
- Appointment of new CFO with experience in enhancing margins and improving internal processes
- Focus on long-term value creation and maturing as a public company
- Resignation of previous CFO at the Board's request
- Ongoing independent investigation into financial reporting for fiscal years 2020-2023
Paul Kasowski, Who Has Served as Chief Compliance and Transformation Officer, Named New Chief Financial Officer
The Board of Directors Has Retained Independent Advisors to Support an Investigation Into Financial Reporting for Fiscal Years 2020-2023
SCOTTSDALE, Ariz., Sept. 24, 2024 (GLOBE NEWSWIRE) -- AMMO, Inc. (Nasdaq: POWW, POWWP) (“AMMO” or the “Company”), the owner of GunBroker.com, the largest online marketplace serving the firearms and shooting sports industries, and a leading vertically integrated producer of high-performance ammunition and components, today announced that Paul Kasowski, who has served as the Company’s Chief Compliance and Transformation Officer, has been appointed by AMMO’s Board of Directors (the “Board”) as the Company’s new Chief Financial Officer, effective immediately. Mr. Kasowski succeeds Rob Wiley, who resigned on September 19, 2024 at the request of the Board.
After due consideration, the Company’s Board determined that Mr. Kasowski possesses the requisite experience and qualifications to serve as CFO. Mr. Kasowski most recently served as Chief Compliance and Transformation Officer since January 2024.
Jared Smith, AMMO’s Chief Executive Officer and Board member, commented:
“Since my appointment as CEO in July 2023, I have prioritized laying a foundation for long-term value creation and helping AMMO mature as a public company. The appointment of Paul will support these efforts. He brings additive experience in a variety of areas, including enhancing margins, improving internal processes, and positioning businesses to transform.”
Paul Kasowski Biography:
Prior to joining the Company in January 2024, Mr. Kasowski held the role of SVP, Business Transformation for Kinder’s Seasonings & Sauces from January 2022 to July 2023 where he professionalized financial reporting and implemented margin improvement projects while building a winning culture for this high growth brand. Previously, from December 2020 to December 2021, he was CFO for Arizona Natural Resources, a privately owned manufacturer of premium beauty care products where he oversaw finance, accounting, IT, HR, planning and sourcing. Mr. Kasowski also held the role of VP, Financial Planning & Analysis from April 2019 to December 2020 for Igloo Products Corp., a manufacturer of coolers and hydration products based in Katy, TX. From 2003 to 2019, he held progressing roles in finance, strategy, and operations for Del Monte Foods and Ainsworth Pet Nutrition. Mr. Kasowski earned his M.S. in Supply Chain Management from Michigan State University, MBA from Ohio University, and B.S. in Finance from Robert Morris University.
Independent Investigation Into Historical Financial Statements
As disclosed in a Form 8-K filed with the U.S. Securities and Exchange Commission on September 24, 2024, a Special Sub-Committee of the Nominations and Corporate Governance Committee of the Board of Directors has retained a law firm to conduct an independent investigation into the Company's internal control over financial reporting for the fiscal years 2020 through 2023. The independent investigation is in its early stages and is focused on fiscal years 2020 through 2023.
The Company does not plan to comment further until the completion of the investigation.
About AMMO, Inc.
With its corporate offices headquartered in Scottsdale, Arizona, AMMO designs and manufactures products for a variety of aptitudes, including law enforcement, military, sport shooting and self-defense. The Company was founded in 2016 with a vision to change, innovate and invigorate the complacent munitions industry. AMMO promotes branded munitions as well as its patented STREAK™ Visual Ammunition, /stelTH/™ subsonic munitions, and specialty rounds for military use via government programs. For more information, please visit: www.ammo-inc.com.
About GunBroker
GunBroker is the largest online marketplace dedicated to firearms, hunting, shooting and related products. Aside from merchandise bearing its logo, GunBroker currently sells none of the items listed on its website. Third-party sellers list items on the site and Federal and state laws govern the sale of firearms and other restricted items. Ownership policies and regulations are followed using licensed firearms dealers as transfer agents. Launched in 1999, the GunBroker.com website is an informative, secure and safe way to buy and sell firearms, ammunition, air guns, archery equipment, knives and swords, firearms accessories and hunting/shooting gear online. GunBroker promotes responsible ownership of guns and firearms. For more information, visit: www.gunbroker.com.
Forward Looking Statements
This document contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words like “may,” “will,” “likely,” “should,” “expect,” “anticipate,” “future,” “plan,” “believe,” “intend,” “goal,” “seek,” “estimate,” “project,” “continue,” and similar expressions. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on current beliefs, expectations and assumptions regarding the future of the business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. We do not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the dates they are made. You should, however, consult further disclosures and risk factors we include in Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports filed on Form 8-K.
Contacts
For media:
Longacre Square Partners
Joe Householder, (646) 582-3643
AMMO@longacresquare.com
For investors:
Matt Blazei
CoreIR
Phone: (516) 386-0430
IR@ammo-inc.com
Source: AMMO, Inc.
FAQ
Who is the new CFO of AMMO, Inc. (POWW)?
Why did AMMO, Inc. (POWW) change its CFO?
What is the focus of the independent investigation announced by AMMO, Inc. (POWW)?
When did Paul Kasowski join AMMO, Inc. (POWW)?
