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Hey Lolo,
Not sure who requested it to be deleted but the reason for was Off-TOPIC.
I'm going
Hey Bill, You may be right but don't no which companies business model has more synergies; MR or GM..... I haven't been to either. I'm planning on visiting MR the night before the shareholder meeting so I'll be able to speculate a little on it.
Great review, thanks
ther cost for food and beverage was around 30k. Thats yuge!
MR's past quarterly report shows 145k in sales....considering they were only open for aprox. 20 days it seem like their off to a good start. what does concern me is the expenses that go into building and managing these types of facilities...... If I remember correctly MR has approx 120 employees.
Has anyone on this board been able see MR firsthand?
Twist, you are correct and not transferable.
That is an asset
On August 2, 2016, the Company entered into and concluded an Asset Purchase Agreement (“APA”) with Profiles Tool and Engineering, Inc., an Arizona corporation that operated an engineering and custom machining facility in Mesa, AZ (“Profiles”), . The APA provides that the Company purchased all the assets, properties, rights and goodwill of Profiles, as well as certain liabilities. The total purchase price, including assumed liabilities, was $286,220. With the purchase of this machine shop with its machinery and tools the Company will be able to enhance its ability to efficiently create new simulated weapons with required features and to be better equipped to meet client and market needs.
Another interesting factoid is profiles engineering is/was ISO9001:2008 certified. I can only assume that will transfer over to VirTra.
It could be related to MR but my guess would be it's not....the building suite is 4500 sqft and could easily fit a 20 person manufacturing and engineering facility. IMO, I think their gearing up for something much more substantial.
Going forward I believe that Virtra sales pipeline will continue to gain momentum. Even though IMO q3 should be similar to q2 and q4 should be similar to q1.
I think we'll see a ramp up of DOJ orders in late q3 and q4.
What really hasn't been discussed is the subsequent purchase of Profiles Engineering for $285k. Why would they need this? IMO And from what I've been reading federal customers are looking for more advanced simulated weapons with specific requests. There are thousands of simulators and legacy contracts out their and these could be added very quickly to new and old installations.....Over the last year Virtras employment ads for mechanical engineers has been specific to these types of duties.....could be a great opportunity.
Very well said and totally agree.
Bunch of new jobs posted on indeed.com
http://www.indeed.com/jobs?q=Virtra&l=
good to see this;
As part of the Annual Meeting, management will be answering questions received both live at the meeting, as well as those questions received in advance by email. Shareholders are encouraged to email their questions prior to the meeting to vtsi@finprofiles.com.
For those shareholders who are unable to attend the Annual Meeting, the Company intends to broadcast the event live via webcast. Individuals interested in listening to the webcast over the Internet may do so by visiting the Company’s website at http://www.virtra.com/annualmeeting on the morning of September 16th. In addition, after the meeting, a replay of the webcast will be posted on the Company’s website.
Don't wast your time Gregg.....On a lighter note I can assume from your name you live in arizona? Have you visited ModernRound Yet? would like to get your thoughts related to: Quality of food and service, Gaming technology and ease of use, and over all look and feel of the facility.
Emotions get the best of people and unfortunately those few will regret their decision.
;
Good read;
http://virtra.com/PDF/CompanyReports/AnnualMeeting/2016/VirTra2015AnnualLetter.pdf
It was a very dark time for VirTra when they went to the pinks but the right decision at the time. They were on the verge of collapse, had to payout Dutchess and save every penny to stay afloat.
It was a smart move.
Exactly how I read it too! And it states those preferred shares will be canceled afterwards.....it's very important the quorum is met.
The proxy also discussed the possibilities of dividends. VirTras has the potential to generate a lot of cash as long as they maintain this level of growth.....a dividend is a great way to reward its executives, employees and shareholders.
Don't think I'm giving up my voice at all....the minimum quorum vote must be met this year and VirTra thinks the only way is to authorize 500,000 preferred shares with large voting rights and then retire them afterwards.
To your point Bob has treated shares like gold with almost no dilution over the last four years. If VirTra does do a reverse split of 10-1 the O/S become 125 million which in the scope of things seems small in scale.
Gregg,
This concerns me; this doesn't appear to be shareholder friendly. Why would they need to do this unless they plan on some acquisitions? Any thoughts
authority to issue is 1,250,000,000 shares, of which (1) 1,200,000,000 shares shall be Common Stock, par value $0.005 per share (the “Common Stock”), of which (a) 1,000,000,000 shares shall be Common Stock, par value $0.005, (b) 50,000,000 shares shall be Class A Common Stock, par value $0.005 per share (the “Class A Common Stock”), and (c) 150,000,000 shares shall be Class B Common Stock, par value $0.005 per share (the “Class B Common Stock”) and (2) 50,000,000 shares shall be Preferred Stock, par value $0.005 per share, which may, at the sole discretion of the Board of Directors be issued in one or more series (the “Preferred Stock”).
LMAO!!
Bobs finally ready for us ;)
It would be cool for them to hold the Annual meeting at ModernRound....not ruling that out yet.
I will be there too unless something comes up last minute......
Itinerary
1. Fly in Late Thursday the 15th, grab drinks with any shareholders in town.
2. Attend Virtra headquarters for Annual meeting.
3. Head over to Modern round; shoot, eat, Drink-a-lot
4. Take red eye back to Maryland.
Whoever is going we all should connect
Your post is spot on GregginAZ.......I honestly don't think anything other than voting for board members and a reverse split will be included in the proxy that will come out later this month. in addition to the reverse split, like you said; upgrade to the OTCQB; continue to grow; add additional board members, fulfill price requirements and move to the NASDAQ or NYSE.
:)
Need an invite to the ribbon cutting Bill
They look to be getting the house in order, searching for a new CFO and HR Director.
http://www.virtra.com/job/human-resources-director/
Yes your right he was CAO but for the last couple of months Virtra's website had his title as CFO. Virtra needs a CFO in order to be an SEC reporting company and thought they could be telegraphing their next move.
Interesting, Wondering what happened to mark skidmore the previous cfo.
news coverage with another install at the end of the year.
http://chicago.cbslocal.com/2016/06/15/virtual-police-training-system-simulates-stress-of-real-active-shooter-call/
anyone with level II Is the 500k share bid still sitting at .18?
TIA
Really? I'll Take your word for it but didn't think that was the case on pinksheets.
MR news coverage and tonight is the grand opening
https://www.facebook.com/RickDAmicosPage/videos/1226528264023866/
is it possible Virtra is allocating capital to conservatively buyback shares and creating a base.
it's been a long time coming.....congrats to all the longs who've been patiently waiting.
bill,
My two cents; we know very little but I like the concept and the founders add credibility. I think VirTra negotiated a very strong deal recieving 5% equity(up to 10%) and 7% royalties on all gross sales with a minimum royalty payment. I've seen pictures and videos of the interiors and it's impressive!
Top golfs revenues are broken down 80% food and beverage and 20% golf....I think thats a strong argument on why this has a better chance of being a "hit" compared to Gander mountains demise. Top golfs locations are averaging between 3.5mil and 6mil per year and are adding 9-12 locations per year. Modernround plans on adding additional locations in early 2017 possibly vegas and austin texas then 3-4 a year after that. I think "if successful" they can average 2.5mil-3.5mil per year per location.
MR has pretty ambitious plans and think that could hurt them regarding the capital requirements it will need to build these future sites. I think this leaves them very little margin for error and they must do everything right.
Does this link work?
http://investorshub.advfn.com/boards/board_survey.asp?board_id=148