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More Stoc II info
The Simulator & Trainer Omnibus Contract (STOC) II recently qualified a whole swath of U.S. and European defense contractors to provide support to the U.S. Army in the areas of simulation, training, range instrumentation and support. The STOC II is managed by PEO (STRI) for the Army. The contract which has a value of over $17 billion if all aspects are executed is an Indefinite Quantity/Indefinite Delivery contract. This means that the Army can buy services from any of the qualified contractors by paying for hours of labor and products at any amount they want. Many companies, like ICF International, QineitQ, DRC, AAI, and others qualified. There is no guarantee with an ID/IQ contract that any company will get work. Actually there is no guarantee that any work will be awarded. The contract allows the customer to pick and choose what it needs and who will supply it. Similar to Task Order contracts where companies qualify for an omnibus contract and then get to bid on various task orders of work. The services like these contracts as they treat the actual order award as not a full contract action. This limits reviews and protests. Congress has moved to make the actual task order awards like contract actions due to concerns that they are expensive and do not necessarily provide best value to the government.
I don't know if STOC II is exclusive to the Army.
Stoc II
I'm not an expert on this. My understanding is that no $$ at all has been awarded so far from Stoc II. It's a contract vehicle, developed to make contracting with the armed forces easier. Lots of companies have issued press releases saying that they are a part of it. All that means is that they are eligible to submit bids for specific simulation contracts that the govt has already budgeted $17.5 billion dollars for. When the army wants something they don't have to submit a budget and wait until next year to buy, the money is already set aside. I don't believe Virta is eligible to bid directly for Stoc II awards, they could only be a sub contractor to DSCI, who has had great success with managing billion dollar programs for the dod. The beauty of Stoc II is that the army has dictated that prime contractors (DSCI) have to share a certain percentage of the work with small businesses (Virtra).
Here's a release:
Orlando, Fla. (January 29, 2009) - The U.S. Army Program Executive Office for Simulation, Training and Instrumentation (PEO STRI) granted 142 awards for the second STRI Omnibus Contract, known as STOC II, Jan. 27, 2009. STOC II, valued at $17.5 billion over the next 10 years, serves as an efficient contracting vehicle in order to quickly get simulation and training products and services into the hands of U.S. and coalition service members.
"The overall purpose of STOC II is to have highly-qualified contractors on-hand to rapidly satisfy the needs of our nation's Warfighters," explained Brian Murphy, the PEO STRI contracting officer responsible for STOC II.
Companies competing in STOC II were evaluated in two categories: the Full and Open Lot and the Partial Small Business Set Aside Lot. Small companies competing in the Full and Open Lot also had the opportunity to compete in the Partial Small Business Set-Aside Lot, and vice-versa. Two lots were established in order to enhance PEO STRI's ability to achieve its small business goals.
In response to the STOC II Request for Proposal, PEO STRI evaluated 158 compliant proposals in which 127 proposals (60 large companies and 67 small companies) were entertained in the Full and Open Lot, and 98 proposals were assessed in the Partial Small Business Set-Aside Lot.
For a complete list of the companies who were selected for award in both the Full and Open Lot and the Partial Small Business Set Aside Lot, reference the "Companies Selected for STOC II Award at the close of the press release.
The proposals were evaluated based on four core factors detailed in the Request for Proposal: past performance, management, small business participation plan (applicable only to the large companies in the Full and Open Lot) and cost/price.
Existing STOC I contracts-which were awarded in four different categories: Live, Virtual, Constructive and Test-Instrumentation-remain a viable solution during the transition period until each respective domain expires. The first domain, Test-Instrumentation, expires Feb. 25, 2009. The remaining domains expire March 19, 2009.
Companies outside of STOC II will still be able to do business with PEO STRI. Murphy advises, "STOC II is just one tool in a contracting officer's toolkit."
Additionally, Murphy stated that non-STOC II companies are strongly encouraged to team with successful offerors for partnering or sub-contracting opportunities. The PEO STRI Business Opportunities Web site contains the awardees' names, addresses, e-mail and phone numbers to aid in the teaming and sub-contracting process.
Furthermore, as the pool of qualified small business offerors diminishes in the future due to growth, acquisition, or the like, PEO STRI has reserved the right to re-compete the Partial Small Business Set Aside Lot, thus providing additional opportunities for small businesses to be included in STOC II.
"For the quarter ended March 31, 2009, gross revenue grew 55.4% from $522,165 to a record $942,957, due to an overall increase in sales activity."
Does this gross revenue growth percentage jibe with everyone else? Isn't it an 80% increase in gross revenue?
Great Numbers.
They have been announcing the quarterly reports with sales announcements, so we should probably see one of those this week as well.
Everything is heading in the right direction.
Not really too much of a pullback so far.
It would be mind-boggling to see this regress to the support at .03.
It's now an operationally PROFITABLE company, that has hired a new sales exec, attends every trade show imaginable, has a multitude of international distributors, has a domestic partnership that should provide recurring revenue, a ceo that has been purchasing shares on the open market, and with a few more sales could announce more revenue in the first 6 months of 2009 than all of 2008, which was a record year.
VTSI is dangerously close to being a solid investment.
Swami,
I did leave the Threat Dynamics out on purpose. I'm not confident that those are actual sales. The word 'partner' is used too often. I don't think that is a bad thing though. My secret hope is that Virtra's part of the partnership is providing, yet still owning, the actual simulators.
If Virtra owns the simulators, they could potentially be listed as assets on the balance sheet. Further, through some 'voodoo' bookeeping, they could potentially list those assets at the street value not at the cost. An IVR 360 may cost Virtra $100k in actual hardware, disregarding the cost of software and intellectual property. The street value could be approximated at $500k. Thus, for $300k in hard costs for 3 IVR 360's Virtra could effectively claim $1.5 million in assets.
Further, Virtra would have a recurring revenue from the use of their assets. It's a win-win situation if that's how it is set up. Even further, if TD opens 10 of these under this arrangement, Virtra could list a huge amount of assets at a fraction of the cost.
Details of the arrangement would be interesting to see.
b-17
Sales Estimate based on announcements:
12/11 Middle East 2 x IVR 180 $400,000
12/15 Nevada Police IVR 300 $300,000
12/18 Brazil IVR 360 @ $300,000
4/16 IVR 300 to Mexico, IVR 180 to NY, IVR 100 to Indiana @ $500,000
4/20 IVR ??? to Australia $500,000
That's $2 million in the first 4 months of 2009. At this rate, 2009 sales will be well above the record of $2.9 million of 2008. $17.5 billion STOC II is still out there.
The interesting aspect of this investment currently is that it is no longer a question of survival, it has become a question of how successful/profitable it can be. If these announcements keep coming, the risk is gone.
b-17
High of .042 today, so far.
Teeroy, good call:'In my opinion the book value is(with out any sales)a minimum of 7 million dollars and we will soon see 5 cents.'
New 52 week high?
Here is a link to the company that performed the IP evaluation.
http://www.lehecoserv.com/index1.asp
It's a great number, but how common is it to just appear on the balance sheet like that? Is it legit?
Regardless of the IP value, it was a great quarter, and a great year.
Teeroy,
Would you post it. Or the link please.
Thx
HILLSBORO, ORE., MARCH 9, 2009 — Threat Dynamics today opened the first law-enforcement use-of-force training facility ever built using only private funds. The facility uses Tempe, Ariz.-based VirTra Systems hyper-realistic “immersive” virtual training protocol, and was built in partnership with VirTra.
“As recent national news items demonstrate, use-of-force issues are the most complex and most studied issues confronting law enforcement officers and agencies today,” said Threat Dynamics co-founder Scot Laney. “Use-of-force scenarios are also the most difficult to train for, and the technology for the best such training is too expensive for many law enforcement agencies to afford. Because we feel so strongly that better use-of-force training will benefit officers and civilians, we built this facility without using a dime of public funds.”
Threat Dynamics’ Northwest Regional Training Facility in Hillsboro, Ore. uses what is termed “immersive training.” Trainees are surrounded by high-definition video, sound and vibration, and wear a device that shocks them if they are shot. Importantly, trainees can use multiple levels of the “force ladder” to subdue a suspect, from voice commands, to OC (chemical) spray, to TASER, to lethal force (firearms). The interactive VirTra software registers it all, and records what happens so the officers’ reactions can be reviewed to further refine their training.
“VirTra’s immersive virtual reality offers the most realistic and effective simulation training in the world,” said VirTra’s Brian Wardell. “Training with our technology saves lives through higher levels of skill and superior judgment. This partnership is an exciting opportunity to bring this technology to agencies that otherwise might not be able to benefit from it.”
For additional information on Threat Dynamics or its Northwest Regional Training Facility, visit www.threatdynamics.com.
New Article
Valentine's Day wasn't all sweetness and light in Pahrump as a low-flying helicopter thundered overhead, making the ground shake in tandem with the whirling blades and setting neighborhood dogs barking.
There were gun shots and the sound of glass breaking -- creating a virtual assault on the senses of those assembled for the public unveiling of the Nye County Sheriff's Office newly installed training simulator.
The startling sounds were only heard inside the sheriff's office and were amplified by four sub-woofers housed beneath the elevated floor of the VirTra use-of-force firearms training simulator system, which is temporarily housed inside a meeting room.
Currently configured to train deputies in a 180- degree enclosure, using three wall-sized projection screens, the system will be expanded to 360 degrees when the planned expansion of the department's evidence room is built and the system is moved.
In addition to practicing marksmanship using targets that fall when shot, deputies can experience a wide number of scenarios while surrounded by the big screens. For instance, a seemingly benign traffic stop may have a driver pull a firearm from the glove compartment or an officer may walk into a robbery in progress at a convenience store.
"The simulator gives officers experience in making judgment calls in shoot or no-shoot situations," said Sheriff Tony DeMeo. "We can do things here that we can't do on the range.
"We can emerge any deputy into any area. For instance, we can put rural deputies into city scenarios," continued DeMeo.
"We are giving our people training with an AR-15, a Mossberg 590 and a 12-gauge shotgun." A Glock .22-caliber was also used throughout the day.
Being surrounded by screens also means deputies must be aware of all the area around them. "Situational awareness is key to staying alive," said Dep. John Kakavulias.
After each scenario is run, the system is able to backtrack so trainers can evaluate how participants reacted. Hits and misses show up on the screen.
Up to six trainees can interact with each other and the screens at one time, with the trainer tracking each person's actions.
According to the deputies participating in Saturday's demonstration, they especially appreciate the feature allowing them to use their own duty weapons.
"We put a laser assembly in our own weapons," explained Dep. Mike McGrath.
The system currently supports handguns, rifles and shotguns. Deputies can easily convert their firearms to shoot at the screen with lasers and CO2 cartridges. Shots are recorded on screen for later evaluation. To add to the realism, participants can feel the recoil from their handguns and rifles.
Trainees can also tell when they've been shot by wearing the system's threat fire belt that is controlled by the trainer. It gives the wearer an electric jolt of various strengths.
Deputy James Scott, a facilitator of the demo, explained, "It is not extremely painful, but if you are wearing the belt and something happens behind you, you'll know it. It's not just a random shock. You didn't look behind you and you got shot.
"You can have a split second shock or a longer one that can bring you to your knees," Scott said.
Dale Norton, Nye County School District Assistant Superintendent, was among the civilians participating in the demonstration. He proved to be cool under fire, stopping a robber with a gun at a convenience store, but experienced an electric jolt in another scenario when his AR-15 malfunctioned and he could no longer shoot as he did not have a backup weapon. He was shot in the back by a miscreant.
The scenario stopped and a message appeared in foot high letters, saying: You have been shot.
"Yeah," said Norton. "You bet I felt the pain."
DeMeo used Norton's simulated death as a teaching moment. "This helps train our officers to keep on fighting," said DeMeo.
"If a weapon fails, use another one. You are still able to go into battle. Don't stop. Until you see the pearly gates of heaven, you are still in combat," DeMeo emphasized.
Deputy Eric Murphy, who was shot Sept. 19, 2008, during a gunfight at Terrible's Lakeside RV Park, is enthusiastic about creating that exact scenario on the VirTra system. "We've already taken the
http://www.pahrumpvalleytimes.com/2009/Feb-20-Fri-2009/news/27043024.html
That is great news.
VirTra Awards Exclusive Product Distribution Rights in Brazil to Agora Telecom
Thursday December 18, 10:00 am ET
New Brazilian Distributor Delivers Quickly with a Full System Sale
TEMPE, Ariz.--(BUSINESS WIRE)--Bob Ferris, VirTra Systems' CEO and president (Pink Sheets:VTSI - News), announced today that Agora Telecom has been chosen as VirTra’s exclusive distributor in Brazil. The exclusive distributor agreement with Agora includes a minimum volume per year of sales in the territory of Brazil.
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Agora recently purchased and installed a top-of-the-line IVR-360 HD (provides full 360-degree training) simulation package. This particular firearm training system includes recoil kits, Threat-Fire™ safe return fire systems and a full library of marksmanship and police decision making training scenarios.
Furthermore, Agora recently placed an order for a 2nd IVR-360 HD simulator for installation in Brazil, which has made the decision to exclusively work with Agora easy for Bob Ferris, VirTra Systems' CEO and president.
Ferris commented, “Agora is an influential company in Brazil with strong connections to the Brazilian military and law enforcement. Beyond that, Agora has already proven their ability to sell VirTra’s products, and with one simulator already installed, other potential customers are able to see the simulator for themselves. VirTra’s international expansion continues at a record pace.”
About VirTra Systems
Sugarland Texas
Approve contract in the amount of $72,200 with Ti Training Corporation for purchase of a Law Enforcement Interactive Classroom Training System.
http://www.sugarlandtx.gov/city_hall/city_secretary/agendas/FY2008/080508cc/3h/3h.htm
Ti Training
$
114,716.78
j)
To Ti-Training Corp., Golden, CO, for the purchase of three computer based interactive use of force simulators under RFA 09-016 for the Police Department.
http://phoenix.gov/FAGENDA6/agenweb5.html
VirTra Announces Large Simulator Sale to Nevada Police
Monday December 15, 10:00 am ET
TEMPE, Ariz.--(BUSINESS WIRE)--Bob Ferris, VirTra Systems' CEO and president (Pink Sheets:VTSI - News), today announced that an undisclosed Nevada police department has ordered a complete VirTra IVR-300 HD decision making and firearm training system for immediate delivery.
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The all-inclusive police simulation system will provide the department with the world’s most realistic arena for situational judgment training, marksmanship training, digital shoot-house training and Real-World Marksmanship™ preparation.
The order includes VirTra’s patent-pending Threat-Fire™ belts for safe return fire simulation, tetherless recoil kits, and 4 custom scenarios designed specifically for the Nevada police department.
The total simulation package exceeds $300,000 and marks the first sale to a police department in the state of Nevada for VirTra Systems.
“We are extremely proud to be the chosen firearm simulator for one of the finest police departments in the state of Nevada and the country. While our recent global sales and expansion are exciting, it is truly fantastic knowing that our state of the art products will be saving lives in the United States as well,” said Bob Ferris, CEO and president of VirTra.
Press Release Source: VirTra Systems, Inc.
VirTra Expands into the Middle East Record 3Q Profits Reported
Thursday December 11, 10:00 am ET
TEMPE, Ariz.--(BUSINESS WIRE)--Bob Ferris, VirTra Systems' CEO and president (Pink Sheets:VTSI - News), today announced that it has received an order for two of their industry-leading military training simulators from a country located in the Middle East. While specifics remain classified pending delivery, the total value of the transaction is estimated at over $400,000. The firearm-training simulators will be used for military engagement skills training, marksmanship and immersive combat training.
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The firearm simulation systems include some of VirTra’s innovative products, such as ‘drop-in’ tetherless recoil weapon kits, highly realistic training scenarios and the patent-pending Threat-Fire™ belt, which provides safe and accurate return fire simulation. The IVR-180 4G™ military skills training simulators are scheduled for installation in approximately 4 months.
“This sale is the culmination of years of hard work, both in the simulator design as well as the sales cycle. We are honored to be chosen as firearm simulation supplier for an international government’s military training program; we look forward to a long and rewarding relationship,” said Bob Ferris, president of VirTra.
Ferris added, “This sale only further solidifies VirTra’s continual expansion within the market. VirTra is also pleased to report the most profitable third quarter numbers in the history of the company.”
Hope the Ti Training relationship is still intact.
https://police1.com/police/products/press-releases/1733142/
3 300's to mexico
http://biz.yahoo.com/bw/080617/20080617005859.html?.v=1
Friends and Shareholders:
I have attached VirTra Systems' 2008 first quarter 10-Q report as filed Tuesday with the Securities and Exchange Commission. I respectfully suggest your careful review of all our public filings.
I'd like to begin by stating that Major General Perry V. Dalby (USA-Retired) is one of the finest men I've ever had the pleasure of working with, which makes the news of his recent resignation as VirTra Systems' CEO truly bittersweet. While he has successfully navigated VirTra Systems through some demanding situations and acted as a consummate leader during his tenure as Chief Executive Officer, his decision to resign from his post is perhaps the greatest testament to his professionalism. The General realized that after several years of exceptional service, some significant changes had to be made in order to preserve the best interest of the company and its loyal shareholder base. His resignation was one of those changes and I would like to take this opportunity to publicly express my gratitude for the wonderful contributions he has made.
In addition, I would like to point out that during the first quarter we decided to rescind the small compensation we provided our Board of Directors members. To help give the Company every chance of success, each board member voted to eliminate their own compensation. Today, I will be accepting the resignation of a Board of Directors member, Tommy Cloud who is a close friend of General Dalby's and has been too busy with other activities to devote time to VirTra Systems.
One other significant change to the VirTra Systems' blueprint is the recent decision to centralize operations by bringing all operations to our headquarters in Phoenix Arizona. As a result of that decision, our Houston office will be closed effective June 1st 2008. This decision will dramatically increase efficiency, eliminate a significant amount of unnecessary spending and build a far more productive company across the board. These changes are difficult but necessary steps for VirTra Systems to take en route to new levels of success and profitability.
Without a doubt, 2008 continues to be one of VirTra Systems' most progressive years to date. Sales activity has markedly increased, and we are now implementing far more aggressive marketing initiatives, it is gratifying to see successful results that improve our efficiency and add to our bottom-line. VirTra Systems' revenues are up a staggering 118% from the first quarter of last year as our elite products and philosophy have truly taken hold of the marketplace. During the three months ending on March 31st 2008, our revenues increased to $522,165 - a bold 118% increase from the $239,386 VirTra posted for the same period in 2007. With our general and administrative costs significantly reduced during the same three-month period in 2008, it is clear that our concerted effort to reduce costs made a significant impact and the streamlined Phoenix operation will certainly contribute to that exciting trend.
VirTra Systems continues to make huge strides in the marketplace. We are so grateful to our loyal investors and want you to know that the recent optimization of operations is a wonderful turning point for the company we all want to succeed. There is a rejuvenation internally that is contagious and will take this company above and beyond expectations. As VirTra Systems consistently raises the bar, it takes the support of our investors to continue moving it up - notch after notch. I would like to humbly take this opportunity to thank each and every one of you for your continued support and loyalty.
In closing, I would like to introduce Jed Wallace to the VirTra team of shareholders and supporters. Jed was responsible for some of VirTra Systems' most powerful national media exposure in the past and has now joined the team fulltime to handle public, media and investor relations. Please feel free to contact Jed at 310-403-0559 or jed@streetrelations.com.
Again, thank you all for your continued support; you all serve a vital role in the growth of this company and our collective corporate vision.
These are simply my personal comments, and should not be relied upon in your investment decisions. I strongly urge you to conduct your own due diligence with regard to any investment in VirTra Systems. I respectfully refer you to VirTra Systems' filings with the United States Securities and Exchange Commission.
-- Bob Ferris, President of VirTra Systems
"Blankenship said the department already meets all the requirements for law enforcement training, but anything that could further reduce the department’s liability would be an asset.
The IVR came with a price tag of $140,000, but it was paid for by funds netted from illegal drug seizures in Phelps County, Blankenship said."
http://www.therolladailynews.com/news/x1867422159/PCSD-begins-virtual-training
Didn't know the 15 calendar day rule.
At least there will me something material to discuss.
I don't know if Virtra has done STOC II legwork, but the total IDIQ is up to $17.5 billion in the latest update.
billpr,
They filed a nt 10k notice on 3/31.
Unfortunately I can't imagine we'll see anything tomorrow.
Last year they did the same and filed on 4/17.
Another distributor:
http://ihuseni.com/
Immersive Virtual Reality Training Simulator
IVRT Systems are the world's first firearms training system that includes a completely immersive, 360o environment, incorporating the realistic sensations of sight, touch, sound and smell. These Force-Option Training Simulators are simply the most advanced and effective available today, incorporating the most requested features for military and law enforcement firearms training.
b-17
Itsec 2008 Sweden
Teeroy,
On top of the existing strength in sales, Virtra's participation in the European version of itsec could not come at a more opportune time for international buyers.
The Euro is currently $1.57 to the American dollar. If a European entity is interested in buying into Virta, I believe it would cost them 63 cents on the dollar. That's a 37% discount for them to buy American. Please correct me if I am wrong.
Currently the American dollar is down and out, but historically it won't stay there for long. It is an attractive time to appeal to foreign budgets.
Kudos for Virtra's participation in this event.
b-17
Happy St. Patrick's Day
Someone is a little ahead of themselves on updating their website.
In the News
Ti Training Corp is chosen as exclusive interactive simulation training supplier for the Swanson Tactical Training Center in Ogden, Utah.
March 17, 2008 – Golden, Colorado - Ti Training Corp, a supplier of interactive training products and services to the law enforcement and public safety markets, today announced an agreement with the Swanson Tactical Training Center (STTC) in Ogden Utah. The “Training Lab” system is being installed into the custom built simulation training room inside the STTC main training building during the second week of March 2008. The “Training Room” will be used in the classroom next to the Lab. The two systems fulfill the interactive simulation component of the “one stop” all inclusive training facility.
“It’s an honor to be part of such an immense project. This is without question the premier tactical training facility in the county” stated Greg Otte, President of Ti Training. “The people attending the center are among the best and brightest in police and military tactics and technique. We are excited about showcasing our products to such a diverse and informed demographic.”
“We are driven to provide the absolute latest in training technology throughout the center, placing the Ti Training Lab in our simulation training room was the proper choice.” Commented Geoff Perrin, Director of Marketing at the STTC. “The features and options of both the Training Lab and Training Room give us tremendous flexibility in creating the wide-ranging content that is critical to the training mission”.
The Training Lab and Training Room systems will be put into service immediately and will allow the STTC to provide its visiting agencies instructors to teach, test, and reinforce application and operational skill sets for all common force options and tactics.
http://swansontactical.org/news/view/id/2
Sheriff to get trainer
Published: Tuesday, February 19, 2008 11:19 PM CST
E-mail this story | Print this page
K.C. Kotyk, Staff Writer
The Phelps County Commission approved on Tuesday soliciting a bid for a new, computerized, use-of-force simulator to assist in training deputies at the Phelps County Sheriff’s Department.
Soliciting bids for the new, law enforcement, training simulator will commence with an advertisement on Thursday with instructions for bidding and closing on March 13.
Phelps County Sheriff’s Department Detective Andy Davis described the use-of-force simulator as a state-of-the-art, three-dimensional, computerized, training module that will offer deputies the opportunity to train for deadly force situations, scenarios by which they had not been able to train for in the past.
The simulator, as described by Davis, is a surround-screen module with computer generated pictures that a deputy fires at with an air-charged weapon (assisted by a laser system). A belt worn by the deputy discharges a low-voltage shock whenever the computer perpetrator shoots a deputy training on the system.
Apology retracted. The link is up again, and it has VTSI on Reuters, under earnings reports to be released today.
Anyone have a clue?
The link page has been updated and no longer reads the same.
My apologies. It did in fact say this:
2-22-08 VTSI.OB VirTra Systems Inc (Tentative) VirTra Systems Inc FY2007 Q4 Earnings Results
We'll see.
Gentlemen,
I believe Virtra is going to release a Q4 2007 Earnings report.
Am I reading this correctly? Have they ever done this before?
http://today.reuters.com/investing/EventCalendar.aspx?ctype=date&filter=2008-02-22
30th on the list reads: VTSI.OB VirTra Systems Inc (Tentative) VirTra Systems Inc FY2007 Q4 Earnings Results
We may get a pr in the am.
Here's hoping
b-17
Waiting for a STOC II update from PEOSTRI.
Has anyone had any contact with the company other than the controversial Friends & Shareholders letter?
I have not contacted them. I do believe it is the first time they filed an 8-k for a F & S letter. I appreciate the info, but it could be debated whether or not it was a 'material event.'
They seem confident in the '07 10-k. If it is that good maybe they will get it out on time, and prevent further conspiracies without an NT filing.
Give us some more news!
b-17
Barnabus,
Cubic has already sold 700 of these legacy systems to the army, and I agree, it is frustrating.
Here is a link to CDA (Cubic Defense Applications)
http://www.cubic.com/ecc/est/
Look how basic the EST 2000 is. I have no idea how it is possible to spend $18 million on that.
b-17
Clarification welcomed.
It will be interesting to see how they account for the retirement of the Dutchess debenture in the 10k.
Company Update:
1) Cashflowing
2) Paying off some debt with actual cash ($186,000)
3) IRS issue is no longer being ignored, and at least a plan will be made to resolve it.
4) Dutchess debt resolvement is questionable.
5) 07 10k will be best year ever.
Overall it is positive. MG Dalby's terms of the Dutchess retirement could be a little more concrete. How can Dutchess be vague about the actual debt owed, and or terms of the loan, and not provide info on advice of their counsel. What the heck is that.
As always the stock price isn't flying, but emotions are.
b-17
2/5/08
Sunday afternoon web surfing.
Purchase award to Ti Training Corp in the amount $142,997.00 for a firearms
simulator for the Police Department. Funding is available from 334-2111-521-
64.90 (General Construction Fund/Other Machinery/Equipment).
Seems a little high for a single screen.
http://www.mydelraybeach.com/NR/rdonlyres/euzygalhinbiagv4v26vyxzvyfnmasvkhkkap52rcgjqyyr7xrplv7x4qud74anvbxbpnd2wqfzmx5luvv4ixeygafg/02-05-08+Regular.pdf