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Wow! Happy to witness this story unfold. Thanks for your DD!
Thanks!
The company is changing rapidly, and I like it.
I expect the move to the OTCQX very soon as well, or at least the application.
quote:
on October 7, 2016 it filed a Certificate of Change to its Articles of Incorporation to effect a 10-for-one reverse stock split of its outstanding and authorized common stock.
Good move IMHO, and decent ratio. Preparing for a higher exchange shows confidence in the future.
Recurrent revenue, or maintenance contracts are indeed becoming a huge part of the balance sheet. There is NO way any other company could take over the maintenance, even by tender.
I feel as confident as Andy, and also my retirement is securrd
Bill, please elaborate. Do you refer to the Preferred A? Were they not supposed
to be canceled after the vote? I admit I do not read the filings as I should do....
So the preferred A can still vote for the R/S?
BTW kudos to Andy. It's rare to ensure one's own retirement fund with a pinky.
Virtra slowly getting investors attention:
http://www.insiderfinancial.com/virtra-systems-inc-otcmktsvtsi-skyrocketing-due-to-government-contracts/117269/
Bob Ferris, Chairman and Chief Executive Officer of VirTra, commented: “We generated $3.4 million in net sales for the second quarter and $9.6 million for the first half of 2016, our highest level of revenue for the first six months of the year in the Company’s history. Our continued strong results reflect the increasing demand for our simulation solutions both in the U.S. and throughout the world. In 2016, we have expanded our list of strategic customers to include such prominent government agencies as the U.S. State Department and the Australian Border Force. We believe that if we exceed our customers’ expectations on these projects, we will benefit from a 'knock-on' effect in our efforts to secure new business and grow our market share. We are excited about the upcoming annual meeting and the opportunities that lie ahead for our business and for our shareholders as we continue to pursue our long term plans for growth and market liquidity.”
Just a lurker with a mere 2k shares.
Keep up the good work Genie! Reading your posts!
Also first time I see Virtra posting on Twitter seeking candidates
"for multiple full-time positions"
People leaving, or company expanding rapidly???
Let me guess...
Virtra attended and showcased its technology at the FBI National Academy Associates annual conference July 23 to 26 in St. Louis.
http://www.virtra.com/virtra-attends-2016-fbi-training-conference-st-louis/
Nice review indeed. Thanks for the link.
-----
The day will come that Virtra simulator training will be compulsory for every police officer in the U.S.
http://www.insiderfinancial.com/virtra-systems-inc-otcmktsvtsi-is-up-as-gun-control-take-center-stage/116288/
Neither crazy, nor stupid idea. We really don't know if Mr. Monheit
is obsessed with the acquisition of Virtra after his initial failure.
Neither crazy, nor stupid idea. We really don't know if Mr. Monheit
is obsessed with the acquisition of Virtra after his initial failure.
On a serious note, why did they schedule the SM only in September?
In my opinion, the Q1 excellent numbers could still be considered a spike (see Q4 2015),
UNLESS the company knows that Q2 will be equal or even better, in which case it is a proven trend.
With 2 quarters of tremendous growth, they will have more leverage to push for a R/S and upgrade
R/S
Upgrading
One time cash dividend
All in favour raise your hand.
Please don't shoot me....
Thanks, I didn't know that!
Not sure about the 2m, seems a lot. But MR business plan is having 3 running locations by the end of 2016. Then adding 3 each year.
Modern Round has opened its doors.
Awesome post weeble, all true. Some more details:
Negotiations with S&W were heald behind the back of the CEO ( by Ferris and Kitchen) . When he heard about it, he resigned.
S&W chairman then was Barry Monheit, who never forgot about this acquisition opportunity. I am sure BM and BF kept contact.
BM is the founder of Modern Round. The share deal between
Virtra and Modern Round is obviously BM's signature. At least now he has a part of Virtra....
Maybe stupid, but I never traded VTSI, only bought more and more...lol
Virtra simulators get budget priority in Arizona:
http://roselawgroupreporter.com/2016/05/auto-theft-funds-sacrificed-border-strike-force-project/
The website update was announced on Twitter on April 12
http://secretcaps.com/virtra-systems-near-term-catalyst-offers-big-upside/
So they too expect a PR soon...
Quote:
Multiple award IDIQ contract for the provision of law enforcement training simulators and related equipment and services.
This SHOULD be subject of a Press Release soon.....
VirTra Reports Record 2015 Revenue of $13.3 Million, Net Income of $1.5 Million
http://finance.yahoo.com/news/virtra-reports-record-2015-revenue-123000465.html
As an appetiser, the Modern Round 10-K is out, some good reading!
http://www.sec.gov/Archives/edgar/data/1609319/000119312516523726/d114671d10k.htm
Modern Round buying into their allowed ownership, before they announce their first grand opening?
(3 outlets in 2016) . Wishful thinking lol
Indeed, especially the minimum guaranteed royalties.
These are based on modern round minimum revenue of 4m, 8m and 12m the first 3 years.
Am I right?
By he way, another good find and a must read!!
WOW! Great find again Teeroy!
Q1 2016 assured already
U.S. Marshals praise for the V-300 :
https://www.dvidshub.net/news/184441/ang-airmen-train-with-virtual-reality#.Vm902TbYWkg
Virtra at Minipol Paris:
http://www.usine-digitale.fr/article/milipol-2015-un-centre-d-entrainement-virtuel-pour-les-forces-de-l-ordre.N363572
Parts of the article translated (google):
At Milipol 2015, dedicated to the internal security of states, the Swiss supplier Meritis presents the V-300 simulator dedicated to the training of security forces. Manufactured by the US company VirTra, the V-300 uses a rear projection system 300 ° (hence the name) in a room of about 25 square meters to replicate as closely as possible the actual conditions of intervention. There are also more basic versions, such as the V-100 or V-180.
ADOPTED BY THE CIA AND FBI
The system is otherwise sufficiently precise - with a deviation of 2 mm by 2 km - to be used for training in marksmanship. The drive will management flashlights (in the dark) and verbal commands to that assault rifles through any type of handgun or even kind Taser stun gun. His faithfulness makes it particularly suitable when the forces of order in the US qualifying exams, and is used for several years by the prestigious federal agencies like the FBI or the CIA.
The simulator has multiple interests in relation to alternatives like the classic shooting range or scale training. It takes up less space and does not require complex equipment or protection organization. Despite its high starting price (between 500,000 and 2 million euros depending on the configuration), it also reduces costs in the long run by not using ammunition.
The Director of Software Engineering at Modern Round LLC is a former Virtra employee.
These snippets of information confirm the synergy.
I suppose Barry Monheit still regrets that S&W didn't buy the whole company in 2006 for 6m ?
The answer to my last "question":
http://www.police.nsw.gov.au/recruitment/the_training/the_academy/facilities
TEEROY, good find, but unfortunately this article is only for subscribers (?)
However, here I found the details of the contract:
http://www.tenders.vic.gov.au/tenders/contract/view.do?id=23687&returnUrl=%252Fcontract%252Flist.do%253FshowSearch%253Dfalse%2526amp%253Baction%253Dcontract-search-submit%2526amp%253BissuingBusinessId%253D39%2526amp%253BissuingBusinessIdForSort%253D39%2526amp%253BawardDateFromString%253D14%252F07%252F2015
AUD 1,500,000 over 5 years.
This is the second sale to an Australian police force, after the NSW one in 2009.
I presume the first one is still in use and drawing attention (finally)
Mixed feelings after reading this article about Virtra
Writer criticises the company stock option plan (dilution), while praising the business and the product.
http://traviswiedower.com/2015/08/02/virtra-systems-when-compensation-matters/