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I would expect them to file the annual with the IRS, on time. March 30, 2012. It's the first step in getting back to a fully reporting company that is either listed or on the otcbb, and they have explicitly said that's the direction they are heading.
Now that's posted on Monster:
http://jobview.monster.com/Mechanical-Engineer-Job-Tempe-AZ-107652946.aspx
If that's why they chose to stop filing with the SEC and move to the pinks it would have been completely not worth it and would have in fact been like shooting yourself in the foot. I think they stopped filing for the very reason they claimed: it was too expensive.
w/r to the 2010, I don't think it's the left over inventory that was the issue. (If it was then your solution to value it at zero might be fine). It's the cost of goods sold --- how much did they pay for all the inventory that was built into systems and sold? I think Miller's point was that there was concern that the record keeping 'might' not be sufficient for a 2010 audit; He said they were just going to get in there and see. So I suppose there is a chance they will present both years.
It's only bogus if the IP is bogus, or if it's significantly overvalued.
Unless you're in the fringe camp that thinks IP is worthless. If it has value it should be on the balance sheet under assets. And if the argument is that only IP that has a clear patent should be included, then why don't other simulator companies just duplicate and sell an IVR300?
I have never understood the aversion that several posters have had w/r to including IP on the balance sheet. Is it the particular $6M figure that is, to you, phoney baloney? Would $2M be a better number? Or is it that you value the IP at zero, in your fair and balanced opinion?
Wait -- A PR just because they found someone to rep them in a second tier market? If that had been a PR then you would have been calling it fluff no doubt. (which it would be).
And last year's 4Q and annual didn't show up until April 4th, so enough with trying to make-up an issue out of thin air.
And why is that "obvious" to you?
There are 5 jobs listed! (That's not Baker's job, it's a junior engineering position with 1-4 yrs experience.)
Just to be clear, although he did call me he was simply returning my call. As he would have returned yours, I'm sure. Had you bothered to call him to try and understand what's going on at Virtra. But after not even talking to the man you're hurling personal insults. Really?
Yes, if having visibility into the status of operations, revenue & sales efforts is the investment criteria, then this is the wrong stock to pick. I think they made a conscious choice to be quiet.
I'm done defending them, but I'm still bullish because I think the clock is ticking now. With all the ramping up that we were made aware of thru monster.com & PR's, I think either good things will happen relatively soon or the the party is over.
How come a board (like this one) can't be searched in 2012? The "search this board" date drop box in the ibox only goes to 2011.
I get the feeling that those 350k shares are going to be in stronger hands soon.
wait -- wasn't that 2011 w/r to 2010 that Andrus was claiming would be 2x revenues?
Andrus sold all his shares. Notice there was no form filed for that.
lol, I hope you're right. If so, we might expect that the volume/price will pick up a little before hand. Actually that's one thing that bothers me -- where is the insider buying? We know that none of the people in the company are required to file form 4 or any sec forms, even the execs... so I wouldn't expect insider buying filings. But if things are going super well, one might expect your average joe at Virtra to invest a little bit. If any of them are, they are not buying much....
I think recent annual reports have been accompanied by a CC. But that's likely 2 months from now. It seems presumptive to think there would be no CC this year.
And as for your comment on GM, one could easily come to the conclusion that GM management opted for a roll-out of half a dozen stores followed by a wait-and-see-how-it's-going period. I take it you think that period should be less than a couple months long. I expect they would probably beg to differ.
thanks Teeroy, that's the info that was missing and his online bio did not make sense without it. I agree that large military orders are the future of Virtra, and he seems like a really good addition if that's what you are trying to accomplish.
After spending some time on google I agree it is hard to validate that PR. "Under his leadership, the international military division of one of the nation's largest publicly held Defense Industry manufacturers achieved a 60% year-over-year revenue growth."
Armor Designs doesn't qualify as the international military division of one of the nation's largest publicly held Defense industry manufacturers. They are a public company with only a million in sales per year that lists the largest shareholders right on their website.
And Arizona Tactical is a retail store as you pointed out.
It's very odd, and I don't see any explanation for this discrepancy.
ok, I didn't see or remember that, thanks.
1. Do you mean this? "retains BDO to perform audit"
http://virtra.com/news/virtra-systems-retains-bdo-alliance-member-semple-marchal-cooper-to-perform-audit.html
2. It would be great to hear about 2010, but I would be surprised if it was anytime soon.
In other news I had a conversation with a patent attorney tonight. Main takeaway is that certainly one could have patent applications pending that would not show up on a search of the USPTO applications. That's because at a minimum the application will not become public for 18 months. And that's if the company is considering filing internationally in addition to the US. If the company is content for whatever reason with limiting the patent filing to the US, then the application doesn't become public until the patent is issued.
Why would you expect any word of an audit now? Surely you know the Q4 and annual financial statements would have to be complete before an audit... Hopefully you don't think they should PR that they are about to start an audit.
doesn't look like they were ever filed. The first application on this link is for the belt and a patent was issued 9/2011. The rest of the applications are older.
http://appft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=0&f=S&l=50&TERM1=virtra&FIELD1=&co1=AND&TERM2=&FIELD2=&d=PG01
You mean how can he be getting a jolt of electricity?
I don't understand your point about the trading volume being to small to support selling 500k shares...just put a limit order in at .078 for instance and your 500k will be sold bit by bit over a few weeks and you can go away happy.
Where did that 20K number come from? thx
Here's a link I've been meaning to include there. Check out the graph galleries. The blogroll on the right is good too especially PK.
http://www.calculatedriskblog.com/
It's true that I would prefer more transparency, but I think it will come in time and at this point I'm satisfied with being patient and buying a little more every month. You, on the other hand are obviously not satisfied and have not been as far back as I remember, so it's beyond me why you still hang around posting negative comments. To each his own I guess. And btw, it's not that I don't like you, it's just that I don't like you setting the tone with your negativity so I tend to respond.
Yes, it's just such a disaster it's un-imaginable that anyone owns any shares at all. You should sell.
Time will tell
Yes. And not by sales of 1 or 2 simulators at a time as we've seen for years now. I think they are positioned so that the sales will get bigger, 10 at a time, then 30.. $25M market cap is small potatoes.
I for one would vote no if that was the offer price.
If there was something going on, the PR would be proceeded by days of higher volume hitting the ask, like today as people in the know get in..,call me cynical
The blind leading the blind. jmo.
Al, it is an understatement to say that I also was upset that the 2X comment was made and then never owned up to or acknowledged again. However, I came to the opinion, as was voiced by others on the board that it was said by someone who wasn't qualified to be giving guidance and should have never been hired in the first place. So, I have two thoughts: One, they aren't the first company that missed their own guidance, it happens. And two, apparently, at least when BF realized he had made a major personnel error he corrected it.
I don't think so. If you "built a position" based on Andrus 2x sales comment, and the intention to uplist and now the company is not satisfying your desire for "proof" they are on track, then perhaps you have a sell or hold decision to make. But it seems that you're not making it, you just keep complaining.
And you sound like a high-maintenance shareholder. Have patience and accumulate is the key here, but you seem to have a need for immediate results. Time for you to move on and bother some other company. Enough of the threats, sell if you're going to sell, we need to get rid of the weak hands.
What's the big problem with that "America's most wanted" blog post? Something that has to change by the end of the day I mean, as otherwise you threaten to change your assumptions about the company, lol? At the bottom he links to the America's most wanted site rather than the specific video about Virtra's 300 system, and when you follow the link you find that that video is not readily available anymore (only the last three episodes are). However schaffer's post is a blog post from a certain date, so this sort of thing is not not entirely unexpected unless you are new to the internet yes?
Or maybe your beef is with his use of the word "comment" twice in one sentence?
Or maybe the grumbling is inversely proportional to the stock price?
And it shows...all from the ibox "Don Andrus, President/COO", VIRTRA INVESTOR RELATIONS:
Jed Wallace, VIRTRA MOST RECENT NEWS: Tuesday, November 8.
Not trying to be a complainer, just pointing out the obvious.