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Charlie
It's still sweet winning the World Series last year and we were down 3 -0 to the evil empire. Biggest choke in sports history!!!!
Heel
You must be a NASCAR guy...I have one and don't need to justify my interest to you...
Been busy watching my $$$ grow on IACI - Barry Diller's company - they are spinning off Expedia - vote is tommorrow.
You really are bitter VTSI has not been good for you huh?
Take care
Heel
Pardon me for not being all knowing like you...a little thin skinned??? Too much of a stake in this thinly traded penny stock????
Heel
Wow! That is quite a rant...
You said: "Success comes to those who are educated, motivated and diligent" I agree
No meeting today - watched Brad Faxon local New Englander shoot lights out at the open and unfortunatately the Yankees beat the Red Sox today after we kicked their butt last night 17-1.
Oh but there's always tommorrow night on ESPN
Take care
Heel
The question is how could the estimates be SOOOOO bad???
You said: "That chart with their 2004 sales numbers about which you speak so lowly CLEARLY shows their sales ESTIMATE to be ESTIMATED."
Here are the actuals:
http://finance.yahoo.com/q/is?s=VTSI.OB&annual
Virtra's Estimate - I assume that's where the stock promoters got them - which was done in 11/03 I believe was:
Revenue for 2004 $6.5M
Operating Income $2.5M
Actual Revenue $1.3M
Operating Loss (2.4M)
Ouch!!!! I work for a public company and if/when the company misses their # THE STREET punishes the stock
You said: "you've proven to have no basic education in economics or finance." I beg to differ - my strong suit IMHO is finance but that's ok.
David
Greg can say what he wants but talk is cheap and Kelly has lost credibility with the investment community IMO. There have been many missed deadlines and revenue forecasts.
There are also many more shares outstanding from 7 years ago - let me guess 7 years ago there may have been 10M shares? now there is over 60M oustanding. It's alot tougher now plus the restriction will be coming off the leaseholder shares forcing continued sell pressure and Dutchess as well....
Good luck
Greg
With all due respect being a finance person I thought that paragraph was very interesting:
"Our cash receipts for the second quarter are more than 20 times what they were for the first quarter" I guess my question was with previous minimal sales it was not hard to collect 20X previous qtr but it was positive. Based on him saying that Kelly should advise the shareholder base what the increase or decrease is from Qtr to Qtr. Publish a DSO as well.
"the company now very close to cash flowing" - I guess a financial term would be close to positive cash flow if that is the case then that is a plus.
People though IMO have relied on the previous expectations that have not materialized. Are you still buying and adding to your huge position?
Misinformation???
http://www.investorshub.com/boards/read_msg.asp?message_id=2062830
2004 Revenue $6.5M
Profit $1.5M
??????????? - Anyone know the actual for 2004?????
Tarheel here's a question for you!
My recollection is Kelly said in a con call earlier this year the company would be operationally profitable in Q3. He waffled a little in the 6/30 con call - "I would be very, very surprised if we are not operationally profitable by the end of the year, and I expect it in the third quarter."
Time will tell...
Bunny
Well said! Tarheel thinks 99% of the people knew what PO Financing was - I think not. Greg posted "Virtra received a Purchase Order for the Mexico deal" and Kelly issued a press release and letter for "the order" - people relied upon the large order to buy the stock and now it is a delayed for 9 months??? Was it a purchase order or not?
I think many bought the stock without reading the SEC filings and I think posters referring to them have opened the eyes of many to the real facts - JUST MY HUMBLE OPINION
MISINFORMATION????????
http://www.investorshub.com/boards/read_msg.asp?message_id=6400812
"Virtra Received a Purchase order for the Mexico deal.
We are obviously pleased with this latest order from Mexico. After a demonstration of our technology in Mexico City in August, we were first given a verbal commitment for this very important sale before we actually received the official purchase order last week.
http://www.virtrasystems.com/pr_ceo_letter.cfm?press_id=7"
Weo
Back atcha baby - ESAD!
Have a great day!
Weo
"so was Thomas Edison?" - Holly crap Batman now Weo is comparing Kelly Jones a lawyer who I am sure is very good in court and defending lawsuits to Thomas Edison...
Sure he is a believer he has one million share options at an exercise price of $.005
From the SEC filing:
"L. Kelly Jones 1,000,000 shares at an exercise price of $.005"
Greg
I don't have 4:00 meetings every day...but I did that day. I saw the transcript where the same callers had to asks questions different times...
Heel
"you don't know the first thing about a startup business fulfilling its first order based upon a purchase order from a client with a good credit rating...like the government. [A good credit rating means that they are likely to pay their bills and have a good history of doing so in the past]"
A good credit rating???
Paying their bills you mean like VirTra who are/were behind on their rent per their SEC filings and had to settle with their leaseholders?
The Company rents office space in Arlington, Texas on a month-to-month basis at $1,500 per month from an officer and stockholder of the Company. No payments were made during the years ended December 31, 2004 and 2003. Included in accounts payable at December 31, 2004 is $72,750 owed
Heel
"over 99 percent of members of Investors Hub already knew what you posted, as they have some background in business and/or finance (required for the personal responsibility that comes along with investing)."
What a crock...
Greg
Habits are hard to break - I have been using Con Call to abbreviate Conference Call for 25 years...probe on...
Heel
Really??? It was very funny then...
Yo Heel
Well I guess you have to get Purchase Orders in order to actually put it into actual practice...
Only took me 2 minutes - but I am sure you knew all this along with the costs associated.
http://www.fredcoutts.com/pofinancing.htm
Purchase Order Financing
U.S. and International
Anywhere in the World
U.S. Seller to U.S. Buyer
U.S. Seller to Foreign Buyer
Foreign Seller to U.S. Buyer
Foreign Seller to Foreign Buyer
Unique Transactions
Purchase Order Financing is used to pay your suppliers, laborers, or other
intermediaries for goods or services to generate additional sales. A
company will need purchase order financing when:
You need expertise to handle the financing
You need additional working capital
You need a quick response to an immediate sales need
You don't want to incur additional credit risk, be it foreign
or domestic
You want your buyers and sellers to not know each other
You want the opportunity to make additional profit
We understand all the above reasons and will work with you to
fulfill your needs.
We finance purchase orders for all types of
transactions that include:
U.S. Supplier to U.S. Buyer
U.S. Supplier to Foreign Buyer
Foreign Supplier to U.S. Buyer
Foreign Supplier to Foreign Buyer
Unique Transactions
Every purchase order transaction stands on its own. We look at your
business history, the credit worthiness of the buyer, the ability of your
supplier to produce the goods, and if the transaction is profitable for all
parties.
Business History
We consider funding those organizations with a track record of producing
goods. Your company may be young or a start-up, but your company management
must have a proven track record to produce the goods.
Buyers Purchase Order
Your buying firm must be reputable with a good credit line. The purchase
order must be verifiable.
Supplier
Your suppliers must know your product and be able to produce it in time and
to meet your buyer?s terms. The supplier must be a firm with a good
business history and track record of producing goods.
Profitability
The transaction after all expenses must make a profit for all parties.
Payment of the money lent to support the transaction can come from any
number of sources such as factored receivables.
Purchase Order Financing is available only to qualified customers. P.O.
Financing falls into two types:
Finished Goods
Non-Finished Goods
Finished Goods refers to transactions where the goods are never touched by
you. Usually these goods go directly from your supplier to your buyer. You
never take direct possession.
Non-Finished Goods are when you the seller take possession of the goods
either in a raw state (such as yarn to make blue jeans) or a semi finished
state (partially sewn blue jeans). In either case you must take
possession of the product.
Finished Goods are easier to finance than Non-Finished Goods. We will need to assess your
ability to complete the transaction in
processing the goods for the final shipment to your buyer. We
finance both Finished and Non-Finished purchase order
financing.
In order to consider P.O. Financing for your firm we will need:
Completed P.O. Application Form
Your invoice to buyer
Your supplier's invoice
Your purchase order to your supplier
Profit on transaction - gross margins >18%
Business History
P&L (most recent)
Balance Sheet (most recent)
Time frame to produce goods
Credit information on your buyer
Supplier Information
Finished Goods or Non-Finished Goods.
Generally we charge 2-5% (sometimes more, sometimes less) one time fee for
purchase order financing on the gross amount to be paid by the buyer.
Sometimes there may be an additional interest charge on the money advanced
if the purchase order takes greater than 30 days to complete. Every
purchase order pricing is individual and unique. This purchase order fee
does not include the factoring fee which may cost an additional 3% to 6% if
you are factoring the receivable. We will consider financing a
purchase order transaction to be paid out by another factor or lender. In
order to see if the transaction will make money for both parties, please
fill out the worksheet section of the application form. As you can see the total cost of purchase
order financing fee and factoring fee can range from 4 to 11%. Since both
of us need to make money, the gross margin should be greater than 18%.
Example 1(U.S. Supplier to U.S. Buyer)
You are an apparel manufacturer. You have been in business for 5 years
and have a good Profit and Loss Statement and Balance Sheet. You just
received a large order and are maxed out on credit from your suppliers.
Your sales price to your buyer is $100,000 and your total cost to produce
the goods is $75,000. Your gross margin is 25%. We will purchase the
goods for you from your supplier, give you 45 days to produce the goods,
charge you a 5% purchase order fee ($5000, 5% of $100,000) and factor your
receivables.
Example 2 (Foreign Supplier to U.S. Buyer)
You are importing telescopes from China. You do not need to touch the
goods, they will be shipped directly to the buyer, a large U.S. retailer.
The cost of the goods is $500,000 and you will sell them to the buyer for
$700,000. Gross margins are 20% (after all importing costs). We open a
Letter of Credit to your supplier and will factor the receivables.
When the goods are shipped your Chinese supplier will get paid. When the
goods are landed in the U.S. and shipped to the U.S. buyer, we will factor
the receivable and pay the purchase order from the funds advanced.
Example 3 (Foreign Supplier to Foreign Buyer)
You are an international fish broker. You are buying fish in Jakarta
from a reputable supplier and selling it to a credit worthy buyer in
Venezuela. The gross margin on this sale is 18%. We will finance the full
transaction by wiring funds to your supplier of fish for $40,000 and
collect payment from the Venezuelan buyer of $55,000, less our factoring
fees, insurance and inspection fees.
Unique Transactions
Types of unusual purchase order funding we have done include
-Capital Equipment Acquisition
-Non-U.S. Crossborder Transaction Funding
-Overhead Funding
-Mold and Dye Manufacturing Costs
-Research and Development Costs
-Chapter 11 Bankruptcy Funding
-Inventory
-Closeouts
Unique Transaction Examples
1) Client had a job to refurbish 2 computer chip making machines.
The machines, once state-of-the-art, are now 5 years old
(totally obsolete for computer manufacturers, but perfect for consumer electronic
manufacturers, etc.). They needed $750,000 to buy old machines and for parts
and labor to complete them. We funded this. The machines, upon satisfactory
inspection, sold for $1.3 million.
2) Client had a contract to sell a $220,000 computer to a major company in Austria.
The equipment had to be purchased in Singapore for $150,000, which we funded. A Letter
of Credit was not acceptable, so we funded the transaction through direct wire transfer
through our bank's Hong Kong office to its affiliate in Singapore.
Greg
Con Call - Conference Call - Hello?????
Wow
Chuck
I am not an admitted basher. I am the Fox channel - fair and balanced. I just post the facts.
From the con call - It's just the calm before the storm. Kelly has a list of PR's just ready to go. Sure is quiet though....Time will tell
OTC Journal
And as usual their opinions do not come cheap:
http://www.otcjournal.com/disclaimer.html
Virtra Systems, Inc.
Coverage Period: July 15, 2003 - July 15, 2005
Company Symbol: VTSI
Compensation: MarketByte LLC has been paid a fee of $25,000 in cash and one million newly issued restricted shares by Virtra Systems for coverage of the company.
Heel
Huh?
You are delusional...
Weo
You and everyone learned what PO financing was with my inquiry. The problem is the one issuing the PO needs to provide the $ up front not a given in most cases IMO so stock will need to be used through Dutchess when they do not agree to.
Happy 4th to you too - not a basher just trying to bring out an exchange of ideas so people can make an informed decision.
Dodah/All
That does not answer the question. Company gives VTSI a PO for $500K how does that provide the $ for parts and labor to build the product?
Ceres/Anyone
Some of us have to work too
Could someone define PO Financing for me?
Thank you
David
I agree with your assessment. Excuses are for the weak I was always told. The other companies are issuing PR's left and right so much for getting the budget passed a few months ago.
I remember the last con call after the big exhibit where 2 or 3 shareholders crowned VTSI best in show and it was a lovefest and everyone took turns ball washing....
Let's see where this one goes...
Tommorrow
Last day of Q2 6/30/05 so Kelly will be able to provide an update on Q2 and reconfirm the company will be operationally profitable by 9/30/05 Q3.
Looking forward to the glowing report - no more delays or excuses for management credibility....
Revenue and profit projections for 2005 as well
Old SEC - New SEC????
Charlie - I assume the New SEC refers to the Sarbanes Oxley Act. You said: "I think they may be very experienced with the old SEC. The new SEC is under a lot of pressure to make sure things are right and they are a lot more critical than they used to be"
http://www.aicpa.org/info/sarbanes_oxley_summary.htm
The Sarbanes Oxley was passed in 2002 - 3 years ago - if a company is still trying to comply then I view that as an issue.
Charlie
Do you think they would admit to incompetence or learning on the job? I mean at Rev5 of the filing even the most faithful has to say what gives IMO...the process seems to be taking forever but this is normal right?
All
I said last week "It means the company needs either a better or an SEC attorney - the numerous refilings are put further into question the company's management IMHO..."
Domen said it happens all the time - I think not...more incompetence and mgmt learning on the job IMO...
David
It means the company needs either a better or an SEC attorney -the numerous refilings are put further into question the company's management IMHO...
Cyber
Props on this one - avg now 1 for 20...
Does anyone know when the SB2 is approved does this allow Dutchess to sell into this strength?
David
After reading that the Mexican border town of Nuevo Laredo doesn't need VTSI - it needs a few of those MOABs (Mother of all Bombs) dropped on it....
Cyber
Should I take out a second mortgage? To the moon Alice!!!
C B - Cyber
http://www.investorshub.com/boards/read_msg.asp?message_id=6548988
As they say not so fast...the prediction was upper 20's...the highest bid so far has been $.21 I believe
"I predict that VTSI will be in the upper 20's or higher between the 13th and 17th of June 2005"
Installations at Fort Hood are always a good thing...
Charlie
No disappointment here - I call'em like I see'em. The stock has dropped from $.40 in 6 mos - $.02 that's basically the spread between the bid and ask...
Fool
Yeah and along with Cyber's 300 other predictions...
Time will tell
Cyber
You haven't been right yet or even close!!!
How about this post on the Microsoft board 4/03
http://www.investorshub.com/boards/read_msg.asp?message_id=894737
One more week for the stock to be in the upper 20's
http://www.investorshub.com/boards/read_msg.asp?message_id=6548988
lol
Bill
Great post - I used to work for a mini computer company and even though our product was better or even comparable to IBM and DEC (the old Digital Equipment acquired by Compaq then by HP). The purchasing agents said you never got fired buying IBM and DEC.
Same here except Tucker had 100 employees and VTSI has 13...
David
If you have proof Re FATS it is criminal - I think the company should look in the mirror versus elsewhere for their lack of performance. I think you should be careful with these type of statements...
David
We all know the OTCBB is not a perfect market with much manipulation. My point was the drop from $.40 to $.13 was due to selling and not MM games trying to get cheap shares.