Smart gun company touted by democrats files chapter 11-style restructuring

AWR Hawkins for Breitbart reports:

On May 20, smart gun manufacturer Armatix admitted they have entered into “chapter 11-style restructuring proceedings in Germany.”

Armatix makes the iP1 smart gun, which Democrats raved about and pushed to mandate as the only gun that could legally be sold in New Jersey in 2014. Democrats were joined in this effort by gun control groups like the Brady Campaign to Prevent Gun Violence.

The iP1 is only chambered in .22 long rifle and costs $1,800 per gun. The .22 lr is a meager round for self-defense coupled with a price tag that is over three times the amount Americans pay for .45 caliber Glock, and nearly four times the amount Americans pay for a .38 Special polymer revolver from Ruger.

And this is the type of company that gun controllers want the gun industry dependent upon.