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Subscription Expires 11/1?
"current subscription expiration date for QualityStocks is 11/1/2007 2:05:21 PM"
So you have been promoting the company since 8/1??? Wow
26 days to expiration - of course there can be a renewal for another 90 days and 2M shares. If that going to happen?
Question are the 2M shares free trading or restricted? If restricted when does the restriction expire?
Thank you
Reverse Split
A reverse split is more likely - way way too many shares for this small a company.
Take a look at other capital structures...
UP 16% - Launchpad!!!!!!
Volume 2.3M shares
Bid 0.021
Ask 0.022
Up 0.003 - 15.79%
The climb begins!!!!
Teeroy
The revenue # is immaterial. The question is what will the bottom line be - more red ink or finally operationally profitable???
You must be immune to losing $$$, or just a pure keep the faith guy or gal still touting a $.02 company which had so many hopes and dreams when the outstanding shares were 10M now over 100M.
Amazing all the cheerleading when the stock goes up a penny or two. I get excited when my stocks go up over a $1 in a day.
Have a great day.
Classic - Pump and Dump
Pump get some volume - Quality stocks sends out a generic email - and post - Stock up 150% - not hard to go up that percent when it is $.0151.
Then sell into it to get sales in on this very thinly traded issue.
Oh and my guess is you'll see more posts at day 75 to 80 of their 90 day contract so they can sell their 2M shares.
Q3 ends today - we'll see what 11/15 brings or when they announce...
GLTA
Ceres
$42K per system does seem low.
They are not direct sales - does anyone know the profit margin on each sale?
Going to trade a million shares today - good volume. The promoter is getting buyers. Still million shares times .025 is only $25,000 and obviously not all trades were buys.
Need a few weeks of this IMHO
SF
You said: "ByloCellhi, please provide a valid link to Qualitystocks.net's website that shows that they were paid by Virtra Systems. The information at the link you posted was not there. Did you make it up?"
DID I MAKE IT UP? NO!!!! You want discussion - redo the shares needed to satisfy the obligations which come due early 2008 and now owed at the current share price. Won't come from positive cash flow.
Now we all know why 500M shares was approved a year ago - because the outstanding is going to RISE. The stock printing press continues along with DILUTION.
Have a good day!
SF
It's back...posted just like before earlier this week - sad so sad...SF - why so paranoid? The stock will move up or down based on RESULTS and financial statements not investor hub posts - the current PPS speaks volumes!
2M shares for 90 days of services
http://www.qualitystocks.net/disclaimer.php
VTSI: QualityStocks will receive 2,000,000 shares from a third party for 90 days of services.
OT Red Sox finally win - Yanks lose in 14 - finally stopped the slide. Beckett wins # 20
SF
It was in the public domain this morning when I posted it then it was removed from Qualitystock's website which I linked. I copied and pasted the line from the site as I always do because some are too lazy to click on the link so the info is right in the post.
Bottom line current mgmt contracted for 2M shares to promote the stock for 90 days. L Kelly did in his tenure if I recall and many OTCBB stocks do. The biggest difference from a few years ago it is the law for the promoter to disclose their compensation.
Whether VTSI has some contracts or not it is much tougher to promote OTCBB stocks in 2007 than say in 2002. I am sure you get email blasts (spam) at work, used to be done by fax - still get a few some on the fax machine at work. What do people do? They delete the message and throw away the paper.
What will move the stock? Profitable revenue and lots of it are needed - not much else IMHO
SF
http://www.qualitystocks.net/disclaimer.php
When I posted the message earlier today the 2,000,000 shares VTSI Quality was on the site. As a matter of fact I copied and pasted the line from the website for the post.
Now the compensation does not show it on the site??? As you can see from the replies others saw it too...
Take care
SF - last Trade .011
I asked the same question to L Kelly - he's got a ton of shares to unload. Ya think he is going to tell the board he's selling?
He'll let you know when he is done selling. The problem is this stock is so thinly traded and the price is so low it is impossible to chew through 8M shares.
Oh by way last trade was .011 and bid now is .0111 - they really can split up pennies...
Still holding? Amazing - I bet you wish you cut your losses some time ago...
It's sad....
Every company's IR will attempt to convince shareholders all is well even when things are bleakest...
"Nothing has changed" - alot has changed...
"very optimistic on some large orders" - so I guess that means they responded to some RFP's and are waiting on the award dates to see if they were chosen...
Any idea when the company will make a profit?
Concern about the share price going under $.02 and what means to even more dilution with the bills coming due to Dutchess and others? Scenarios and what ifs were done a few weeks ago at $.03 at lower prices that means even more shares will be needed...
Oh well it's Friday and Yankees - Red Sox play this weekend - everyone have a good one.
Bylo
L Kelly
Current Bid $0.019 Ask $0.0196 - rarely do you see 4 places after the decimal.
Care to comment and give your thoughts on the current state of affairs?
Is that you selling to attempt to get a few dollars from all your years of hard work?
Hope all is well and take care
Bylo
Bid $0.019 Ask $0.020 Oops
Keep the faith - we go up from here????
Where is the support and venture capital $$$?
1.5 mil shares at .03 for $45K on 8/31
Ouch - more speculation $$$ under water!!!
Sure is quiet here - I guess the quiet before the storm and the expected price breakout!!!
GLTA
Bill
Great point - this company has never had any financial expertise and the new Mendosa line is $.02+ cents and going lower... as the losses and negative cash flow continues.
Dalby
When is his contract up? Spring 2008 - he is gone then IMO - 6 mos or so from now....
Doug
VTSI volume has been quiet for the last 6 months. I do agree the Friday before Labor Day is usually quiet BUT not today.
Futures way up and BULLISH
"09:15 am : S&P futures vs fair value: +18.7. Nasdaq futures vs fair value: +26.0.
09:00 am : S&P futures vs fair value: +18.7. Nasdaq futures vs fair value: +25.5. A bullish bias persists in pre-market action as both S&P 500 and Nasdaq 100 futures hold their own well above fair value. Investors are embracing everything from Bush’s subprime mortgage proposal, which is restoring confidence throughout the beaten-down Financial sector, to tame inflation data, which boosts rate cut expectations.
With regard to Financials, the return of its leadership will be a crucial leg of support for a market that struggled to find direction yesterday as the absence of its upside influence acted as an overhang."
The summer lull is over and as usual the market goes up after the summer downturn and now all is right in the world and the fall rally started a week or so ago. Subprime "crisis" now under control - gee what a surprise...
The new price range of VTSI is now $.02X vs $.03X from $.04X - next will be $.01X....Looks like a buying opportunity
SF
An employee does not "buy" them
For example say an employee is granted shares at $10/share and then stock is at $15/share. The employee exercises the option at $15 no cash exchange then employee gets taxed on the $5 gain.
Note no cash transaction IF the option price is $.04 then that is good for the shareholders in this case.
Nornally option are LESS than the market value at time of issue.
Red Sox win again!
E I agree
The options will not be exercised unless they are "in the money". 18M shares is a nice little award for Haag (and others to follow) and some major incentive for mgmt to work hard and the company to succeed.
Don't forget mgmt still has the reverse split card in their pocket
SF nice post - you actually put some time into that one!
and OT Red Sox take 2, Yankees lose and Patriots win - sweet. Hard Spun in the Bishop and Street Sense in the Travers.
Have a good day all.
Stock Option Plan - Steve Haag
My guess is this just the first of others to follow - Dalby and Ferris will get stock options too IMHO
The stock printing press continues........
VIRTRA SYSTEMS 2007 STOCK OPTION PLAN
Steven M. Haag
Virtra Systems Inc.
The Registration Statement relates to the issuance from time to time of 18,274,499 shares of the Company’s common stock
Proposed maximum offering Price per unit $.04
18,274,499 shares
Felix like you have said - "No surprise here"
SF
You said: "Dalby, during his CC, stated that he would need about 40M shares in the near future to take care of obligations. The authorized increase was based on a 4c price and most voted yes knowing he would need these shares. So what the surprise here? So I'm not clear as to why some here are clinging onto the dilution bashing when this was expected and approved by shareholders"
The issue is the prospect outlook and financial structure is not good which has been documented for additional share issuances for this company.
There is a huge surprise and Cee It's post was right on. The revenue and profit needs to grow as the share count rises. OTC or not it is still investing and supply and demand drives the price up or down. This is not the same company when many originally invested and the share structure had 20M shares outstanding and shares were issued very quickly for a public company. The issue is this has been the companies only real asset IMO.
I follow the storage industry very closely - EMC, Dot Hill, Xyratex, Network Appliance. Take XRTX and NTAP for example:
XRTX $950M revenue company last fiscal year - 29M shares out
NTAP $2.8B revenue company last fiscal year - 363M shares out.
Take care
My theory? NO - THE FACTS!!!
Here's the history of the Shares Outstanding:
As of 5/10/01 13,292.095
As of 7/31/02 35,771,931
As of 11/4/03 47,618,629
As of 11/15/04 52,261,235
As of 11/4/05 64,201,398
As of 5/10/06 68,313,600
As of 8/1/06 88,992,401
As of 8/20/07 108,395,712
Now that's dilution...
This does not include the shares going to L Kelly from the settlement to be issued, more needed for Dutchess and the debt due from the filings. Other than that all is well.
With the current # of shares as of 8/20 the company needs Net Income of almost $1.1M to make a penny a share of EPS. When will the company be profitable???
I post the facts from the company SEC filings and make opinions based on them not pie in the sky.
Take care
SF
The difference is you react on a dime. Did not read the SEC filings and judged all to be ok! 110M shares outstanding - not a problem. You do not seem to know the first thing about what drives a stock price and the expected dilution based on the company's current predicament. With so many shares out they have many many shares to chew through for the price to rise. No one said anything when the price crapped the bed from $.04 to $.02 nor did you! You did make a rediculous comment about the price rising 32% when it went up $.007 - are you kidding me. You got called out on your erroneous comment about taxes on director salaries. And that's only off the top of my head.
You are desparate it seems based on the thousands and thousands of $$$'s you are currently losing - unfortunately.
Take care
SF
You're the best as usual! Did you sell to get your 31.82%?
The price is now under $.03 when the price dropped huge percentage points didn't see you post that - the 31.82% is a change of $.007 -I guess when the price is about to become worthless the percentage changes can be somewhat "misleading"
Yeah that's right 7 hundreths of cent. Your posts continue to show you are a rookie at this game and wayyyy over your head. It's unfortunate the price is going to be a very painful lesson of losing your hard earned $$$$$.
Take care
E Pluribus
You said: "Directors were not compensated before 2006. How can the unpaid payroll taxes have anything to do with director compensation? Director compensation is not subject to withholding taxes, now or then.
Rosebowl said: "95% of the payroll tax liability relates to pre-merger Ferris Productions, and the remaining 5% was post-merger before the accounting and checkbooks were moved to Arlington"
Not that I need to speak for L Kelly but he is not referring to director compensation at all but when (timing) the tax liability occurred and it related to regular salaried employees at that time where taxes were not paid to Uncle Sam.
OT Red Sox win - Yankees down 13 - 5 in the 4th. Angels are tough. Always a good night when Sox win and Yanks lose - lol
Just a "little" more dilution
Rosebowl - have you started liquidating your huge position yet? Sure would be nice to get "something" for all your hard work and sweat equity for the many years at helm don't you think?
Tick Tick Tick before sub penny and you get little or nothing...
Take care
Do you ever read these filings?
All you need to read and digest! The death spiral continues...
Guarantees
On September 19, 2006, we entered into a factoring arrangement intended to provide additional working capital through factoring of our accounts receivable. At the time, we were moving toward a merger with VirTra Merger Corporation, separate company that had been formed to acquire Chrysalis Manufacturing Corporation, (a/k/a Altatron EMS) and another company. Upon consummation of those acquisitions, VMC was to be acquired by VirTra Systems, Inc.
The lender did not regard either VirTra Systems, Inc. or VMC as sufficiently creditworthy to grant a credit line without guarantees. As a result, we entered into an arrangement whereby CapNet Securities Corporation would be the borrower under the factoring arrangement, would secure its borrowings by accounts receivable of VirTra Systems and VMC, and would relend the borrowed funds to us and to VMC. We, VMC and Daniel L. Ritz, Jr., , a principal of CapNet, jointly and severally guaranteed payment of amounts drawn under the credit arrangement up to $1,000,000.
We borrowed $100,000 under the arrangement described above, an amount which is still outstanding. We understand that VMC and/or another company associated with CapNet borrowed additional amounts under the arrangement, and that the total amount due the lender currently stands at approximately $500,000.
The expected merger with VMC did not occur. We do not intend to borrow any more money from Charter Capital/CapNet under the arrangement and VMC (now known as ComCon Manufacturing Services, Inc.) informs us that they also do not intend to borrow additional amounts under the arrangement. Charter Capital has been notified that the parties intend to discontinue the facility altogether.
Charter Capital has agreed in principle to a modification which would limit the amount of our guaranty to $200,000.
In addition to the $100,000 borrowed by the company under this arrangement, we also have unsecured advances $96,650 from other companies largely owned and/or controlled by Daniel L. Ritz, Jr. No further payments will be made on those advances until we have been released from our guaranty to Charter Capital.
On February 28, 2007 VirTra Systems, Inc. formalized the credit arrangement directly with Charter Capital for repayment over 90 days, at which time the company will be unconditionally released from the guarantee. Subsequent to June 30, 2007 the Company was allowed to change their payment terms under this agreement and at June 30, 2007 has a balance of approximately $54,000.
Note 8. Common Stock Transactions
During the six months ended June 30, 2007, we issued the following shares:
We issued 3,000,000 share s for services that were previously recorded and accrued during the calendar year ended December 31, 2006.
We issued 1,875,000 shares for cash as part of a private placement resulting in cash proceeds of $81,250.
We issued 650,000 shares for services valued at $46,651 based upon the closing price of the Company’s stock at the measurement date.
We issued 969,725 shares in connection with the forced conversion of accrued penalties associated with a debenture holder. These shares are valued at their fair market value of $33,941 in these financial statements. Of this amount $6,788 is included in general and administrative expenses and $27,152 was recorded as a retirement of a previously-accrued interest cost.
We issued 5,168,388 shares to members and ex-members of our board of directors as compensation for services. These shares were valued at their fair market values of $175,724.
Note 9. Accrued Liabilities
At June 30, 2007 we had $2,147,084 in accrued liabilities. The major items included in this amount are: accrued compensation to officers and directors of $249,153; accrued tax liens from the internal revenue service of $891,822; an accrual of $251,293 for the judgment against us in the Edward and Linda Strickland v. VirTra Systems, Inc. case and unpaid interest of $515,695 on the convertible debentures issued in 2005.
Do you ever read these filings?
All you need to read and digest! The death spiral continues...
Note 7. Commitments and Contingencies
In October of 2005 the Company registered the sale by Dutchess Private Equities Fund II, L.P. of an aggregate of 8,000,000 shares of its common stock issuable to that company upon conversion of convertible debentures and upon exercise of warrants issued to it. On July 1, 2006, a portion of the shares covered by that registration statement remained unsold and the financial statements included in that registration statement's prospectus exceeded the maximum age for financial statements permitted under the SEC's regulations. The Company did not inform Dutchess, as it was required to do under its contract, that the prospectus could no longer be used. As a result, sales made by Dutchess after July 1, 2006 by means of the outdated prospectus were regarded as unregistered for purposes of the Securities Act of 1933, giving purchasers of those shares a right to rescind their purchases at any time within one year after the date of purchase. During the period from July 6, 2006 through October 20, 2006, Dutchess sold an aggregate of 5,434,138 shares using the updated prospectus, at prices ranging from $0.03 to $0.073. The aggregate sales price for all of those sales was $254,977. The Company is required under its agreement with Dutchess to indemnify Dutchess for any loss it might suffer as a result of any exercise of those rescission rights by purchasers. The Company is unable to predict whether any of those purchasers will seek rescission of their purchases. If they do, the Company will be obligated to indemnify Dutchess for an amount equal to the difference between the sales prices of those shares and the value of the shares it receives back from the purchasers upon rescission. If all of the purchasers were to rescind their purchases and if all of the shares taken back by Dutchess as a result or to become totally valueless, the Company would owe Dutchess $254,977 as a result of the rescission. As of June 30, 2007, we are unaware of any claims presented to Dutchess under this provision of our agreement with them. Any remaining contingency will expire one year from the last sale by Duchess of our shares, which will occur on October 20, 2007.
The Company has approximately $900,000 accrued for various payroll tax liabilities. In May 2006, the Company received notices from the IRS of tax liens that have been filed related to these accrued amounts, and in April, 2007 the Company received further notices of intent to levy by the Internal Revenue Service.
In February, 2007 the Company entered into an agreement with Charter Capital Partners, LLC to repay $184,100 in amounts that had been advanced by other companies during the course of 2006. As of April 30, 2007 the Company was in default on this note to the extent of approximately $107,000.
In the first quarter of 2006, a judgment was entered against the Company in a lawsuit brought on by one of the leaseholders, Edward Slagle. As part of the agreement, the plaintiff agreed to wait one year for payment. The Company has not yet been able to pay, and in February, 2007 the Company received notice from the plaintiff’s lawyer that the plaintiff intends to enforce the judgment. The amount owed is approximately $90,000 and has been accrued for in the financial statements.
During the first quarter of 2007, a previously accrued lawsuit was settled for 5,000,000 share of common stock, the value of these shares based upon the closing price of the Company’s common stock on the date of the agreement was $225,000. The Company has previously accrued approximately $498,000 for this litigation resulting in a gain during the six month period needed June 30, 2007 of approximately $273,000.
E pluribus unum/L Kelly
Dutchess deal - no defending it - the issue is this company has never had solid - experienced financial mgmt.
L Kelly Jones - lawyer extraordinare aka Patty Hewes - Damages over his head IMHO running a public company and having inexperienced (see profile below) Kimberly Biggs of Jones and Cannon ( ex-treasurer) overseaing the financial affairs.
Kimberly Biggs, secretary-treasurer
Kimberly Biggs, age 37, is secretary and treasurer of VirTra Systems. Ms. Biggs graduated from Martin High School in Arlington, Texas in 1984. In 1989, she joined the Arlington law firm of Jones & Cannon, which provides legal services for VirTra Systems, as legal administrator, a position which she holds to this date. As legal administrator for the firm, Ms. Biggs oversees all aspects of the firm's business operations, with particular emphasis upon the firm's accounting, billing, and payables.
Kelly at the end of day - the eventual demise of this company is ON YOU!
Question: Have you started liquidating your huge position to attempt to get something out of all the time invested here over the past years?
Take care
L Kelly
You said" "For Bylo and the others, from my perspective, even 16 months after my ouster, there's still nothing inherently wrong with Dutchess' financing. However, with Dutchess (or any other convertible debenture), the company is betting on performance, market emergence, growth, AND AN INCREASING SHARE PRICE to "stay ahead" of the conversions if the cash flow doesn't sufficiently materialize."
Agree - the company was betting on performance and ROLLING THE DICE ON THE COMPANY CHANGING HUGE DEAL which never happened. Dutchess type deals are only good for very short term financing and then paying them off quickly. Which obviously. History with Dutchess deals on the OTCBB for companies succeeding are very rare. If the debt is not paid off quickly it becomess PYTHON financing and strangles a company with massive dilution.
It is still a desparate senior mgmt financing move and if the the company was on the verge of turning the ship around more company friendly financing could have been secured.
Where are WE today? With the current share price the SHARE PRINTING PRESS IS WORKING OVERTIME. The lack of volume is inhibiting the # of shares Dutchess can convert and as volume picks up more shares can be converted. Lower price more shares...
Price now at $.02 - it gets worse from here. The sells should have been made to bail at $.05 - $.04 - $.03 and now $.02 to get "sonething" or you get left holding the bag and a complete tax writeoff.
Time will tell
Cash flow???
What cash flow - like in negative cash flow - paying out more than bringing in...
Losing $$$ cannot continue forever and now the only real asset - the company stock gets less and less valuable...
Dutchess
the deal with the devil as stated many times before.
Rosebowl - comments - response???
L Kelly - Time to start selling those millions of shares before the price goes sub penny...
Start digging the hole to put this baby out of it's misery.
Keith
It looks like the goal is to acquire as many shares as possible so with over 100,000,000 shares outstanding and the price at $.03 you can get many more shares - quantity not quality.
So $15,000 gets you 500,000 shares @ $.03 now that's a great deal!
And so on and so on...
And with little or no volume every day there is no liquidity to sell it.
SF
You said: "My point was to show BC his blanket statement of "no" POs is wrong. I also wanted to point out that Virtra HAS passed up FATS's (apple for apple) systems in quality and sales. The customers want something better."
I said: "The Federal Govt is spending many many millions on training just no PO's coming Virta's way for many reasons....and I am sure you know what they are.:
Don't be so freakin literal ok Virtra is getting a handful of PO's to keep the lights on and pay some of the overhead. Last I saw before they were acquired FATS was a $60M or so company and their website was just a little more more impressive and they were not a one product company.
http://www.fatsinc.com/Home.php
Bottom line you attached your horse to the wrong wagon. Compare? Bottom line VTSI is bleeding $$$ - the balance sheet is a mess and the stock price is $.03
SF
The Federal Govt is spending many many millions on training just no PO's coming Virta's way for many reasons....and I am sure you know what they are.
Excuses???
"The systems do sell and sell well when the buyers have the funds and can swim through the red tape delays. I've been told that many Virtra's systems are #1 on the list to buy, but the agencies are still waiting for the money."
If that's the case then they are in the wrong market. The defense budget has never been higher - billions and billions up to trillions and VTSI does not even get scraps.
Must tell you something.
I guess I am wrong and VTSI is on the thresheld of a dream or a nightmare???
Domen
You're the best
You said: "We did have a good day, too bad the S&P, and NASDAQ didn't."
Previous Close $0.031
Last Trade $0.035
Up $0.004 - that's 4 tenths of a penny. That really is a good day for Virtra
Pass the Kool Aid
Man the lovefest is on. Company issues a press release and nothing happens - the stock is not relevant and only the handful of people watching this message board see what is happening or better yet not happening.
In the meantime futures for the rest of the market are up.
"06:20 am : S&P futures vs fair value: +4.5. Nasdaq futures vs fair value: +14.0."
Have a good day!
SF
You have without a doubt the thinnest skin of anyone on earth. The stock price is below a nickel - there is little or no volume and you get pissed when someone says something negative.
My only suggestion is to buy a real company. This has been dead money for years and will continue to be.
Emigrant.com gives you guaranteed 5%
Mutual funds have been providing over 10%
Try real companies like NTAP, EMC, XRTX. Caught a lucky one with OPSW - last week at $10 - HP bought them Monday for $14.
Not pumping these but they are real. The days of the OTCBB are over...at least for this one...
Good luck