VirTra Inc (VTSI)

[TEEROY]

Link didnt work here it is again...their are a couple inaccuracies in the story

From the Phoenix Business Journal:
http://www.bizjournals.com/phoenix/print-edition/2011/11/25/miller-group-brings-investment.html
Miller Group brings investment,
consulting to VirTra Systems Inc.
Premium content from Phoenix Business Journal by Patrick O'Grady, Reporter
Date: Friday, November 25, 2011, 4:00am MST
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Banking & Financial Services, Technology, Electronics, Defense, Funding
Patrick O'Grady
Reporter - Phoenix Business Journal
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The Miller Group is providing some investment and consulting work to VirTra Systems
Inc. to help raise awareness about the company’s virtual shooting ranges.
Miller Group’s investment comes via its purchase an undisclosed amount of Tempe-based
VirTra’s pink sheet-traded stock. It marks the first time the Scottsdale-based firm has
invested in an over-the-counter bulletin board stock, but Miller sees potential in VirTra,
said Rudy Miller, chairman, president and CEO of the investment and consulting firm.
“They have made great strides as a company, and they are getting to the level and size of
company we normally deal with,” he said.
VirTra CEO Bob Ferris said the partnership will help his company expand its operations,
which includes selling virtual products to military and law enforcement officials.
“We are excited to have found that partner in the Miller Group, with its proven track
record in working with public middle-market companies and its experienced, professional
executives who truly understand the opportunities and challenges facing growth
companies,” he said.
VirTra has been growing slowly but steadily. The company reported income of $1.14
million for the first nine months of 2011 on revenue of $5.1 million, compared with
income of $776,570 on revenue of
Miller Group brings investment, consulting to VirTra Systems Inc. - Phoenix Business Jo... Page 1 of 2
http://www.bizjournals.com/phoenix/print-edition/2011/11/25/miller-group-brings-invest... 11/28/2011$4.1 million for the same period last year. VirTra kept its income steady in the third
quarter despite a drop in revenue.
Those figures can be attributed to increased sales of its virtual reality shooting ranges and
simulators to the U.S. Marine Corps and other military and law enforcement agencies.
At the end of October, VirTra also received its second patent — for the Threat Fire device,
which provides an electric shock to a participant who is shot during a simulation.
The company’s products include a multiscreen simulator that projects different scenarios
law enforcement might encounter in the field. The simulators are controlled by an
operator who can change the outcome, depending on participants’ reactions.
The simulator allows for the use of real weapons equipped with air cartridges and laser
sights that tell the computer whether the shooter was successful. The system comes with
the Threat Fire device.
Miller, who said his group has been watching VirTra for several years, refers to the
company as a classic “tweener”: too big and established to seek startup venture capital,
but too small to draw interest that would help it grow.
“We’ve done the drill numerous times, and we feel they have the upside,” Miller said.
The Miller Group has provided similar services for other Valley companies, including
America West Airlines, which now is US Airways.
As part of the plan, Miller Group and Miller Capital Markets LLC, the company’s investment
banking arm, will provide consulting for VirTra as it seeks to grow.
VirTra considered moving its stock to the Nasdaq market earlier this year, hiring Moss
Adams LLP to audit its financials and evaluate a potential reverse stock split to boost its
price per share. The company scrapped those plans when it couldn’t get enough
shareholder support.