Estate Planning Attorney
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To All Serious VirTra shareholders:
I don't post on this board very often. But I do follow it daily.
I've been an attorney over 33 years, and though I'm not a securities expert, I do understand corporate law and procedures. I've been a shareholder of VirTra well over 10 years, and am a very large shareholder. So, I've got a big stake in this company being successful.
I've reviewed in detail all of the materials provided by the company last Friday and spoken with experienced securities professionals about this proposal. It is overwhelmingly clear to me that:
1. That the current corporate structure has paralyzed the company from making
the changes necessary for an uplist to a better exchange.
Here is the link: http://www.virtra.com/annualmeeting/
READ THIS --- This paragraph from the Shareholder Letter is not hard to understand.
"In addition to our ongoing investments in human capital, infrastructure and R&D, we are implementing changes in the
area of financial reporting and corporate governance that will better prepare us to eventually obtain a listing on a national
stock exchange. We are committed to ensuring that our shareholders are provided with disclosure and transparency that
is both meaningful and comprehensive as we pursue our goals of achieving increased trading liquidity for our stock and
expanding our shareholder base to include a greater proportion of institutional investors."
Exactly Fish. You are spot on.
Really? Someone actually sold shares at .2499 ??????
No, the 2015 meeting was run by Bob Ferris.
billpr: I was at the annual meeting last year. It was professionally run, and they welcomed the shareholders that attended. There were good discussions and thorough presentations. I was glad I made the effort to go.
Metro Milwaukee
I get in late Thursday the 15th, so probably no time for anything that night. But, hiking it over to Modern Round for lunch sounds doable depending upon distance from airport. I leave mid-afternoon back to good 'ol Wisconsin.
Yes, I am planning on attending the September meeting. I attended last year as well. I am heavily invested in VirTra and want to be involved to every extent possible going forward.
All good points. I'm excited for either!
In my opinion 7-10 cents in 2-3 years is way, way, way too conservative.
We'll see in a few weeks what the Q2 earnings are. If they are 1.5 cents like Q1 was, then basically we are already at a pretty solid 6 cent projection for 2016. With any growth/increase in 2016, we could be at 8-10 cents this year! Not an unrealistic possibility at all in my opinion.
It seems like this would be the most likely thinking. They would probably also figure that most shareholders would be aware of when the Q2 numbers would be out and that they would wait to see those before coming to a conclusion on the proposal.
I just bought at the close another 100K at 19.5. I cannot believe that someone is giving up their shares for that price. Using the Q1 net of .015 per share, that in and of itself at a 16 P/E would be .24. You take that out for a full year and use .05 or .06 per share net, you'd get .50 to .60 using just a 10 P/E.
Crazy opportunity here at these prices. IMO
Ah, yes, of course. I'm still getting used to Modern Round being in the mix.
Interesting the ad talks about "game development". Hmmmmmm?
sorry for my ignorance, but what is Nite?
The net revenue per share for the first quarter was .015. Annualized would be .06 per share. Even using a P/E of 10, that would put the share price at .60 per share. Using a P/E more appropriate for the significant growth rate VTSI is experiencing, would put the share price much higher. IMO
Between my wife and I and our 3 children and my mother (LOL), we own 3.1 million shares.
I've been a shareholder for about ten years. A close look at the quarterly and yearly progress will reveal a nicely steady growth into profitability and no debt. With the large order last fall by the DHS, I believe it is only a matter of time before much larger orders are received. The far superior technology of VirTra products is becoming well known and in demand. I am confident of better and better quarters coming. I'd say this price level is a bargain going forward. IMHO
This weakness is a great buying opportunity. After 1st quarter results, you'll not be able to buy this stock under .15 again. I've got an order in for 100K.
Yes, I've wanted to go the last couple of years but my schedule didn't allow it. When is the meeting this year?
May be old news, but I had not seen it. Interesting connection now with military world.
Scottsdale, Arizona (September 12, 2013) - The Miller Group, ("MILLER"), comprised of affiliated companies Miller Capital Corporation, Miller Investments, Inc., and Miller Management Corporation, which provides venture capital, private equity, management consulting and advisory services. MILLER today announced they have added a key executive, Alan B. Lerchbacker as Managing Director, Western Region for Miller Capital Corporation.
In his capacity as Managing Director, Western Region, Mr. Lerchbacker provides added depth in assisting MILLER's middle market and emerging growth client companies with their business and financial objectives plus his 35 years of executive level management expertise as a business owner, senior executive, and advisor to publicly held corporations and emerging growth companies.
He also served 26 years as an Officer in the United States Navy leading special operation teams in over 40 countries. Mr. Lerchbacker was the Officer in Charge of the Space Shuttle Challenger recovery operations, involving 127 divers, 33 ships and 3,000 personnel. After retirement from the Navy, his private sector activities included serving as President of Taylor-Dunn which was the largest producer of electric vehicles in the United States. Mr. Lerchbacker later served as CEO of Austal USA and was instrumental in building the shipyard employee base from 66 employees to over 1,200. He teamed with General Dynamics, Boeing, and Austal USA to win a $38 Billion contract to build Littoral Combat Ships for the United States Navy and Mr. Lerchbacker remains a shareholder of Austal.
He was Founder and CEO of Mattman Global, a leader in specialty vehicles utilized by the defense and security sectors for mobile solutions, medical, and audio-visual areas.
His most recent activity prior to joining The Miller Group was heading up the entity he founded, Global Enterprises; which has teamed with 32 private equity firms and venture capital groups to locate companies in their specialty areas. He will maintain his active consultant assignment with Cask, LLC, a woman owned disadvantaged small business service provider.
Mr. Lerchbacker is a graduate of the United States Naval Academy and currently serves as President of the San Diego Alumni Association. He obtained his Executive Masters in Business Administration from Claremont University, the Peter Drucker School of Business.
I also bought a block of shares back in 2004 in the .40 range, but fortunately I also bought a HUGE block of shares a few years ago for .005 a share. I am soooo glad. Because 2014 is going to be a huge year.
Raw, thanks. I think it's clear that a visit during business hours would be very important given your perceptions. It would be nice to verify this company and get that behind us.
I personally met with Matin in Chicago in July '04 at the Chicago Trade Show. The booth and employees who were there were top notch. I spoke with Matin for 20 minutes privately, and he satisfactorily answered all of my questions. I am an estate planning attorney in the suburban Milwaukee, WI area.
Rawnoc, you would be doing all longs a great service if you were to be able to go to the headquarters during an average work day and ask to see the operations. With as much revenue that they are reporting, it should be a veritable beehive of activity filling and shipping orders. Granted much of the revenue may be the result of factory direct shipping of bulk materials and cloths for auto industry, etc., but there should still be considerable activity at the headquarters to evidence this kind of reported business. With you living only 20 minutes away, this would be extremely helpful to all of us who are hanging on pins and needles to be assured that this is indeed a real company reporting real and true revenues and profits.
I have actually given serious consideration to going to Bangladesh to check out the factory. I just may do that if I could find someone else willing to go and importantly some contact that could guide and help in-country. I own 20,000 shares, not huge, but certainly enough to be concerned.
We longs must work together to verify any way possible the information we're getting. Who ever can help, speak up!!
JoeLawyer
Your profile does nothing to verify who you are or your credibility.
Yes, I bought this company stock. I read all the history I could and did thorough due diligence. I also called the PR people and verified the info.
I considered the opportunity compelling and the investment minimal for me. I decided that this was the company that I wanted to invest some high-risk money into, so I bought 2 million shares among several accounts.
I concede that a highly visible and well known auditor would be icing on the cake, but I for one know for a fact that this company is real and in full operation. I've seen it with my own eyes. I am willing to give my law firm website out to anyone who would like to check me out and contact me. How about you SSFTN?
Just back from ASI Show in Chicago today.
I am an attorney from the Milwaukee area. I am 50 years old and have been practicing estate planning law for over 21 years. I purchased a huge block of VLVT last year. After listening to all the "fraud" accusations on this and other boards, I decided to investigate myself. I was planning on going to California to the home office, but was unable do to surgery. So, I decided to go to the ASI Show today since it was in Chicago.
I got there and found VLVT's booth fully decked out with product and attended to by two sales reps and Javeed Matin himself. The product and the literature were very attractive. Interest at the booth was brisk to put it mildly. I was very pleased with the interest shown by show participants. I then introduced myself and asked Javeed if I could talk with him about the company. We sat down and talked for 20-25 minutes about the company, sales, reporting, etc. I explained exactly who I was and why I was there.
He appeared to me to completely forthright and forthcoming with all the information I asked for. As far as the "audit" issue, he said that has been frustrating because the large firms want 200,000 dollars to do it and he views that as a huge waste at this point in time since the company is not required to do one as an OTC company. He believes the auditors currently being used are, in fact, credible and very adequate for this stage. I am very satisfied with my trip and visit with Javeed today. I still plan on visiting the California home office in the next few months. I for one will be buying many more shares in the weeks ahead if prices come down much more. If anyone out there would be seriously interested, I would even be willing to plan a trip to Bangledesh for further fact finding.
JoeLawyer
I have not posted often here, but have checked the board periodically. I live in the Milwaukee area and am planning on going to the Chicago show on Wed. 14th to try and verify some basic info on this company. I would like to talk with anyone else who may be planning on attending.
Just talked with Veltex home office. The auditors are on site and doing the audit. They were delayed for some time in getting on site, but they are there.
Press release may be coming to advise on the timing expectation of the completion of the report.
why don't you just tell us what you "know"?
What possible good is just laying out that kind of bashing without substantive facts?
Come on.
I spoke with OTC Live today and they advised that the audited financials are still expected in February.