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Why include the 1mil insider shares in the S3?
This only makes sense if something good is coming.
On the advice of a fellow poster I hereby suspend my 2k/week sell program until August1.
I agree with you Ruffi. I like the idea that something is going on. I like that all the insiders and family are willing to sell all their shares. No way would they sell at $2.
This just feels like a GregginAZ special, he wants some sort of big deal and believes he can blow this up into something big. Maybe he can. Somehow he has convinced Bob. Somehow Bob convinced the rest of his family. The COO and CFO are on board. Out of all these people, someone would fight back if Bob were leading them down a dark hole and planned to hurt shareholders.
This AGAIN illustrates what Ferris does not understand.
The company needs to focus on SALES and EPS growth, Not on gimmicky financial engineering and paperwork (rev splits, uplist, Mod Rnd, etc).
Ferris continues to look for gimmicky stuff in an effort to get customers to "automatically" come to him. He refuses to dedicate himself and the company to do the day to day hard work necessary to sell product in an aggressive consistent fashion.
VirTra has almost $6mil in net cash. They do not need money. They do need a revolver or line of credit or that sort of thing and given their balance sheet they could easily have a $20mil line of credit right now at almost zero expense.
The one thing that could be done legally right now is a civil suit against Judy Henry and VirTra. The focus would be to answer this question: Exactly what did Bob Ferris tell you in order for you to agree to have your shares listed in this sale? Other Ferris family members could also be the focus of the suit for the same question.
If the CEO and company had even an ounce of class, they would issue a PR that fully explains what this is really all about.
Maybe the real question is this....
Why were the Ferris shares and BOD shares included in the S3?
It still blows my mind that I was unable to convince Ferris to appoint me to the BOD.
About the first ever career sort of thing I failed at.
Had he put me on the BOD last June, 2020 sales would be $40mil....EASILY!
Also blows my mind I couldn’t rally a couple big shareholders. I am sad about that.
At this point I don’t really care.
I do find it all fascinating though.
I have decided to sell and will continue to do so, roughly 2000 to 3000 shares each week til they are gone.
They already have 6mil in net cash that they do not know how to deploy.
Read the filing HH.
They can sell up to $20mil worth of new shares. That money would go to company.
Ferris and BOD shares if sold, that money goes to seller.
HH....The entire market cap is 18mil. This is nothing. Legal action requires one to have been obviously and demonstrate-ably damaged in a monetary fashion. No one here is underwater by much. No one here is damaged. So even if they sell some shares no one is going to file a lawsuit or even care.
I wonder what each of the people listed in that table have been told and/or “pitched”?
Why would several of the non employee Ferris’s agree unless the price were higher than now?
So there are likely a dozen or more people who know what is in the works.
It would sure be nice if someone could share.
And doesn’t this sort of filing have a negative impact on the business since it raises questions about the future of the company? Why would they do this unless they had a buyer lined up?
And why the need for this sort of filing? Seems like it is not necessary if selling the whole company.
But again...I am clueless
While a pen would be nice, I would prefer 1 Axon share for each 8 VirTra shares.
Now I’m dreaming....
....or maybe CEO/BOD will be happy and the rest is us will have difficulty sitting comfortably....sigh
Thanks. I needed the optimistic possibility!
But I’ve owned lots of companies stock and have been through many buyouts and I have never seen this sort of SEC filing ahead of time.
Given the 3 day weekend, I wonder if whatever is happening happens over this weekend?
I take back my ICY nomination. My apologies.
Maybe we will all be fat dumb and happy Tuesday morning?
So Twister, Is it possible for this to somehow be good news?
If so, then why are they all selling and how would they benefit from the good?
As usual I am baffled.
It is all Ferris and BOD stock.
Pitchforks to AZ!
I wonder if most of the 1mil shares are Bobs?
We know they aren’t Burlends.
I hereby nominate Bob Ferris for ICY.
Idiot CEO of the year.
Not possible to spin this in a good way.
Friday eve dump before a 3 day weekend.
What a crock.
What a great (sadly) opportunity for a PR using today’s AZ mall shooter. Taken down in part due to VirTra training. Saving countless lives. Saving AZ citizens tons of money.
Not that it matters.
And I know no one cares.
I will be taking my ownership percentage down over the next year or so.
4% now, maybe about 3% by 2021. Will sell 2000 shares each week.
I'm already done for this week!
They are awake.
Both voted with us a year ago and will again.
The problem is we are not reaching the ears or eyes of those who own about 60% of the shares.
No good way to do that unless you spend a pile of money....need shareholder roster and mail letters and make a ton of phone calls.
Our only hope is Bob does something good by accident.
Easy to take a jab today given NVAX and INO.
With age comes wisdom!
You guys are sure old! Congrats on that.
I was hoping we would get some good news PRs this week or next.
Stopped in at Zingers&Flingers in middle of WI the other day. They would buy a V300 tomorrow if VirTra rep would make a sales call.
What is "fair value or correct value" for VTSI today? Based on historical growth and all else, I would say the company should be worth 1X sales plus net cash. This equates to roughly $24million or $3.10.
How can fair value increase to multiples approaching that of Axon? Very simple, VirTra needs to increase their growth rate from 10% per year to 30 - 40% per year. The company needs to dedicate itself to go after the low hanging unsexy/boring fruit - selling V300s to private shooting ranges and police departments. The company needs to remove the structural anchors around the necks of their field sales people. The CEO needs to be clear on focus and stop flitting from light to light to light like a moth.
Why does the current BOD refuse to hold Ferris and Burlend to higher levels of performance? Ferris needs annual performance objectives and deliverables just like every other employee. He needs to deliver xxMillion in revenue and xxEPS for 2020. Is he being held to performance objectives? No. And why is that? Because the entire BOD is not doing its job.
Is VTSI stock a good one to own? No. Past performance shows you exactly what you will get - a stock that trades in a tight range without any volume.
When Ferris is either replaced or when he proves he has changed, then it might become investable. Until then this is dead money.
Honeywell SmartValve
Seagate Ultra4
Greenheck Vektor
National Product Of the Year victory
6 Patents
TDK Partnership with BOD
Friendships and colleagues around the world
....
...
..
Mic drop
(all easily verified since in public domain)
Note the word GUESS at the top of those numbers.
I still expect them to hit or exceed the full year number.
Bought lots of RFP, SUP, DHT, FRO today.
Wifey bought more INO, DLX, OPGN today.
Guess where the money came from?
WRONG!
Sold some of our NVAX a couple days ago! Crazy times in the Covid world.
Began buying SUP today. Owned it on and off in the past but never many shares. Now I am going in sorta big and will hold for a couple years. Let's hope consumers start buying cars in a few months.
Further, look how he answered that first analyst question. Any competent or prepared CEO would have immediately said “$1.xxmil and it will be recognized in Qx”. Bobs answer suggests he was makin it up.
Dlewisfl....I do not believe Bob as his own numbers suggest his statements are either false or misleading. Look no further than the backlog number. Why isn’t this number much higher? Mulcahy is not able to deliver results. A quarter is 3 months long and VirTra has 5 to 10 regional sales managers scattered across the USA. If each one could get even 1mil per month in orders the backlog would grow by 15 to 20mil per quarter. The company has NO SALES simple as that.
Bob would much rather chase Military opportunities than do the simple blocking and tackling necessary to consistently sell their core products. He chases windmills.
Twister....What is your opinion on the Q1 results? Thankyou.
There were 3 analysts. Good questions all around. Bob mostly danced rather than providing straight forward answers.
Yes.
I have a slate of three potential Board members all selected. They are all beyond fantastic and have had great careers with great companies. I trust each with my life. They are young and smart and driven and WANT TO BE ON VirTras BOD TO GROW IT INTO A GREAT COMPANY AND MAKE A TON OF MONEY for all shareholders. VirTra would have upwards of $300million in annual sales within 5 years if we could replace the current 3 outside directors with my slate.
BCBA, About how many shares do you own?
BCBA11...At this point I don't even know and not sure I care anymore. About 2 or 3 months ago I tried hard to get to 15% and I couldn't get there because 3 large shareholders would not join. Without them, we only had about 8%. The 3 large guys have 4.x%, 3.x%, and 3.x%. Two of them are "friends/supporters" of Bob.
My health is also worse now and I do not want to spend the time and effort to organize others. I will happily support but maybe not lead the effort. Read the company bylaws, any shareholder representing 15% of shares can request a Special Meeting (special vote) to put forth a new slate of directors.
Not only did I go 48 for 48 with rent, several paid ahead!
Bill, Axon grew revenue by 27% selling to the same customers VirTra sells to. My point was these CUSTOMERS have plenty of money as evidenced by Axon's great results.
Read Axon's latest PR and tell me again about municipalities without money.
For the CEO to tout these results as good because they were 10% better on the revenue side than last year's horrific Q1 is almost criminal. It is criminal when you consider the gross margin and net are way worse.
And even worse than that. Clearly someone knew these results ahead of time based on how this has traded. That suggests Ferris or Henry may have broken the law.
The $11.3 backlog is also horrific. They do not have a clue about how to sell product.
It is so sad that Ferris is not able to capitalize on the opportunity. Even worse, he is not smart enough to know what he doesn't know. Unbelievable.
And the biggest sin of all is for any of us to own VTSI shares.
I can't puke much more than I did during the last 10 minutes. Terrible results. Ferris MUST BE REMOVED.