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So the revenue associated with the recent Marine sale is somewhere between $78k and $4.99 Million? But all PR's from recent memory have had the rev specified..what is the motive for not specifying the $$ on this one? Maybe it's only about $78k, so including that would lessen the impact of the PR. I can't think of a motive for not including the $$ if it was substantial.

Not me, I'll take 14% (7 to 8 cents) over 3% any day. But I'm not one of the cranky guys though..

Since they are non-reporting is a company officer required to file a form 4 w/r to purchases? I'm thinking not, since the two most recent purchases I remember (Andrus and, earlier, Ferris) never showed up here:

http://www.sec.gov/cgi-bin/browse-edgar?company=&match=&CIK=vtsi&filenum=&State=&Country=&SIC=&owner=only&Find=Find+Companies&action=getcompany

This could explain the apparent lack of insider holdings among the present corporate officers.

Odd, I didn't get that email from the company. I did get the one on 9/14. Today's email had new info about sales, and it was sent during market hours to only some people?

Several posters seem convinced that a buyback of any sort is hypothetical and not "real". I'd like to hear an argument from anyone on why the company could or should not invest $2600 per day in this activity.

That number comes from the maximum allowable number of shares that could be purchased on the open market (25% of daily volume), and prices in the 7 cents range.

Ball is in your court.

It's just simple logic for goodness sake. You stated "every day that goes by is costing him a ton of money", which is clearly incorrect. It's not costing him or anybody a dime unless they sell. That's assuming of course that at some point in the future the share price will be higher after this dip is over. I seriously doubt that you are willing to go on record as saying that the share price will never be higher than this. And btw if you don't like someone calling you on your posts you should be more careful not to state things as facts if they are not.

I think that's incorrect, the lower share price isn't costing him any money at all, in fact it's easy to make a case that in the long run it could greatly increase his net worth if a buyback of some sort happened.

There is another scenario that would be beneficial to all longs who believe the company is gaining momentum and sales-wise will be more and more successful as the months and years go by. Ferris himself clearly falls in this category of shareholders.

So then, logically:

1) Don't bother talking up all the good stuff that might be happening...for instance there may be reasons to be quite enthusiastic w/r to the sales pipeline or the next round of proxy/nasdaq, but if it's not material then just keep quiet. [Note: they are clearly quiet].

2) If (or when) the stock price dribbles down, let people know that the company has never been stronger and the company is prepared to put a floor under the share price. [note: Ferris's last email was very very positive and it was stated in last CC that they would support the stock in at $4 after a 1:100 RS, equivalent to 4 cents presently].

3) When the stock does become sufficiently inexpensive, say 4 cents, tender an offer to buyback any or all shares at a premium to the trading price. Open market daily purchase buyback won't work since they are limited to a tiny fraction of the OS per year due to the low trading volume. With the stock trading at 4 cents, a tender offer at 6 or 7 or 8 cents may bring in 60 million shares, who knows. The monies for this are easily within the realm of cash/bank line, especially if it's a quarter or two from now and the sales are in fact going very well.

4) with the OS now at 100M, announce another RS proxy for something like 1:20, along with the completed audits and resumption of full SEC filings, and the application for immediate nasdaq listing if the proxy passes. For this to work the company would have to be valued post-split at least at $4 x 5M = $20 million (because $4 is minimum trading level, & the OS = 5M), which is again entirely within the realm of possibility and likely would be higher if serious good news comes out.

5) Once listed, get serious Wall St help to make sure that plenty of fund managers are exposed to this up and coming new nasdaq entrant that makes the best military simulators in the world. The stock price then proceeds to become way overvalued, just like those guys bid up plenty of other stocks right to the moon.

One other thing --- the folks who aren't going to like this plan are the very people that Ferris can't stand: the short term weak hand loud message board whiners who cry every time the price oscillates down.

Welcome to the board. Don't miss this PR below, the stock may be in the doldrums at the moment but that will change with more news about this:

http://virtra.com/news/virtra-systems-engages-auditing-firm-of-moss-adams-and-plans-for-nasdaq-listing.html

The RS that was mentioned did not receive enough votes to pass, but I would guess that they will modify the proxy terms and give it another try pretty soon.

He did? I don't see that word "soon" in the letter..

How did that work out?

They could have repurchased 25% x 114,866 = 28716 shares at the ask today.

http://www.investopedia.com/terms/r/rule10b18.asp#axzz1YVsx98Ed

But they chose not to. That says it all.

Had a small bid in at .066 for days but none of the mm's are eager to fill in this range. That's a good sign, imo. Just changed it to the ask, I expect we're pretty much bottoming here. Recently when the market has had bad days, vtsi has held it's own..

Likely some guy who jumped in after one of these posts yesterday and now has cold feet

http://investorshub.advfn.com/boards/profile.aspx?user=215591

Lol, you need to take a pill. I saw the news and that was the first place I went. I saw that it was just issued today. Then only a little bit later I saw and responded to your post. I'm Ferris, I like that

That's not nitpicking, I happened to know that it was just issued this morning, so after you surmised that maybe he had been sitting on it, I shared that info. Excuse me! :)

no he wasn't sitting on it, it was issued this morning:

http://patft.uspto.gov/netahtml/PTO/srchnum.htm

patent # 8,016,594

Quite a contrast between that 3 year chart and the white one in the ibox that is on a log scale. The linear scale highlights the recent downtrend, however the log scale is more natural in that it places the same emphasis on a move from .01 to .03 as a move from .04 to .12 for instance.

All I do is send a polite email to Marlene, there is no gag.

Marlene B. Cunningham
CONTINENTAL STOCK TRANSFER & TRUST COMPANY
17 BATTERY PLACE, 8TH FLOOR
NEW YORK, NY 10004
TEL:(212) 845-3206
FAX:(212) 616-7610
e-mail: mcunningham at continentalstock.com

ok, I'll bite: what shred of evidence is there that Moss adams is history.

Not at all, I think none of those is accurate. But maybe they all are...i.e. there is no visibility to what's actually going on. Take Andrus for example, you seem to be convinced that he got axed, yet unless you know something you'd like to share, it is very possible that he had some family issue and has decided to stay retired.

The recent low share price isn’t surprising, because as far as the public investors know things at the company are not going so well as they seemed to be earlier this year. In fact as far as the public knows each of the following items could be true, although personally I don't think so:

1) The company guidance presented in the spring conference call about “doubling 2011 revenues compared to 2010” is no longer valid after a dearth of sales. After the Q2 results, huge numbers for Q3 and Q4 will be required to meet guidance, and it's not in the cards.

2) Lack of sales has led to management turmoil as evidenced by president Andrus getting the axe because he didn’t agree with the direction of the company. Following standard protocol, it was announced as “he resigned for personal reasons,” but he now thinks the company is going down the toilet and he dumped all his shares (no need to file form 4 since he’s not an insider anymore).

3) Gander Mountain management has concluded that although the existing acadamies have been fairly successful, in this business climate they will take a hiatus in any further expansion until at least 2013 and then decide if anymore Virtra equipment is justified.

4) The April press release announcing that Virtra has engaged the auditing firm Moss Adams referred not much more than a handshake agreement of a client-auditor relationship. However, one of the intentions at the time was to perform a full year 2011 audit which obviously can’t be completed yet. Consequently, the 2010 audit work was never started either and actually there hasn’t even been any further communication between Virtra and Moss Adams since the handshake.

5) The previously announced (april PR) plans to become a SEC reporting company have actually been sitting on the back burner, there was and still is a real intention to head in this direction but nothing concrete has occurred and actually not even any plans have been formulated.

6) The previously announced (april PR) plans to uplist to the nasdaq had the timeframe of “as soon as possible in 2012”, and the first step was announced as “shareholder approval of a reverse stock split, which should elevate VirTra’s stock price to a level needed to meet NASDAQ requirements. “ However, although the majority of votes cast were for the RS, the RS proxy failed to get a majority of the total outstanding shares necessary to pass. In the months since then management has basically decide to take a wait and see attitude and is no longer actively working towards Nasdaq listing in 2012. This was one of the prime reasons why a conference call was never scheduled at the Q2 earnings release.

Just to be very clear, I have no idea if any or all of these items are false or true in part or in whole. My point is the near total and complete lack of information means that an investor could quite logically come to some or all of these conclusions. Steven Shaffer? Bob Ferris? Hello?

The company didn't do squat besides do a poor job planning and selling the RS package to it's own investors. Your insinuation of some nefarious deal to "backdoor" the shareholders is just baloney and is some figment of your imagination. As for Citi doing a RS and the stock still tanking don't you think you should choose a stock similar to vtsi for a comparison instead of randomly choosing one that happens to have gone down post split and then drawing a conclusion from that? Seriously, sorry to unload on you but that was just a nonsense post.

I'd rather the $30k promo fee of some pinky scam newsletter go to buyback instead. After all, even if the company had $3M to put towards a buyback, they can't use that immediately. There are rules about how much you can buyback on any given day, and how you can't purchase within 30 min of the open or the close, etc. The most they could spend these days by law is probably something like $5000/day or less. (I forget what fraction of the average daily volume that they could purchase is). A start on that program would do much more than any pinky promoter.

Can you give us an example of a penny stock that is marketed to "EVERYONE" in the investment world? No, the marketing would consist of blurbs in pennystock newsletters, and the stock pice would occasionally blip up before they drive it back down. If you want Wall Street attention, get on the Nasdaq.

I believe the ship is indeed moving in that direction, although it sure would be nice to see some confirmation of that. Like the next proxy that will be required before uplisting, quoting management, "as soon as possible in 2012."

IMO, there is no "solid IR plan" that doesn't involve uplisting. There is no roadshow, no promoting, no "positive relationship with their investors" that will do any good if the stock stays on the pinks. In that narrow sense, it's certainly true that investor relations don't matter. Of course, at the same time you are right that the shareholder votes necessary for uplisting will be more forthcoming with a more positive relationship with their investors.

I agree with the statement of "build it and they will come" simply doesn't work in this market. Presumably planning for your task 1 is in the works, but who knows. My point is tasks 2 & 3 should be in a nasdaq environment, because in this pinkland these are a waste of resources.

I'm with the previous posts -- don't waste a dime on penny stock promotions. It's all about the nasdaq.

ok that is very useful, thank you Teeroy.

I agree, the silence is deafening. To the point that it seems to be on purpose.

We're getting into record territory w/r to no sales PR's. This plot shows PR releases (excepting the quarterly releases and the RS meeting announcements), with the red line showing today's date. I find it intriguing that this dearth of news is happening at the same time that the staffing level has ramped up considerably.

Actually it could well be in his interest if it happens to dribble down. That is, looking forward into 2012, to maximize one's holdings the company needs to maximize the number shares per buyback dollar. Maybe the lack of PR's and the new IR silent stance is part of such a plan. I would think they have a lot of leeway in choosing to hold info rather than PR it.

TA reporting same OS count

As requested, please note the following information below showing the issued and outstanding for VIRTRA SYSTEMS, INC.’s $0.005 PAR VALUE common stock as of COB, FRIDAY, AUGUST 19th, 2011.

Number of shares AUTHORIZED - 500,000,000
Number of shares issued and outstanding - 158,615,776

If business isn't going through the roof why have they staffed up so rapidly?

If business is going through the roof where is the buying? (out of 62 employees there has to be a few with some extra change. I'm not even counting corp officers that would show up as form 4's)

Thanks, that chart says it all. Had another open buy order go thru yesterday.

Me too! I think whenever I have a request for information, or a suggestion they should immediately implement, they should pay attention to me! The fact that there may be hundreds of other people also asking questions and offering their suggestions shouldn't slow them down, they can just do the company work in the evenings after they are done paying attention to us, the actual owners of the company! (/sarcasm)

That's emotion, not logic. You're acting like a spurned Friday night date.

So given the choice between trying to decipher a state of Texas webpage versus just calling to get the scoop, you and Weo have decided to hem and haw and worry about all sorts of "what ifs." If I cared (which I don't), I would certainly call the company and ask. It's actually pretty telling that you won't even go that far. (But if you do, try not to be as hysterical on the phone as your post is).

Unless you guys come up with some useful information, case closed.

Of course. Frank Stanley is not on the BOD anymore. Why waste time trying to decipher this? If you're really concerned, call and ask about it to get some insight.

Instead of relying on a webpage that has, for whatever reason, outdated information (Frank Stanley), I suggest you dig a little further. To whom at the company have you talked to about this?