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I should have also included, The day of the Shareholders meeting when I walked in the office it was a ghost town. for a company with 85 employees I saw a total of 4 employees (included Ferries and Matthew). It seems like Ferris gave the employees off so they would not interact with the shareholders. I wonder who pays for that day off? Shareholders?
I questioned Ferris would he be amicable to add a board member that was part of the 40% who did not vote for the 3 independent board members and his answer was. NO, as he is happy with is selections and as he stated "nobody voted against his selection (as that is a true statement there was no way we could have as there was no against on the ballot). so unless we are all willing to put up a fight and spend a few $ to start a shareholders battle.
Once we try to band together we would need to report to the SEC.
I am still willing to become a board member but not willing to spend $25,000 - $35,000 of my own money to do so.
If the group would like to me start for next year, let me know now and I can get a true cost. If elected I would refund the money to the group from the amount I would get paid for sitting on the board (minus expenses)
I also feel the board and Ferris is not telling the whole truth about the company but I forgot to ask the question "why the accountant change and share holders did not have time to vote on the new accounting firm?
I feel something very fishy is going on at the company but cannot put my figure on it.
again - IMO
Sorry, but I totally disagree with you on the following:
1) only spoke about the sales team when I questioned about them. Never gave a direct answer what they do during the day
2) CEO did not know how much was left in repurchase amount and was initially hesitate on answering. 1st he said we only have $200,000 left to purchase back until questioned again and then was told $800,000 left. My feeling he likes to show cash in the bank, like do in my small company, and would rather see it there instead of using it for repurchase. I explained to him that debt is not a bad thing but is a good thing when money is cheap. Ferris still looks at this company as a small family business.
3)Liolios probably is a good fit for Virtra but only if the CEO will listen to there advice, which I do not have confidence he and his hand picked board will listen"
4)agreed
5)CEO and Board would listen to a buyout option but the way he mentioned it I question his answer. as to say it would have to be a buyout at a very high value
6) the word you used is "may" - says it all
7)CEO mentioned STE space but said 10's of millions would need to invested into it and I was not convinced that Virtra is willing to go back into that space - remember many years ago they where in that space
Yes, I do believe Virtra is on the cusp of great thing but its because of Ferris's as an engineer not him as a CEO.
I truly hope I am wrong as I do own quite a large number of shares in the company.
Again the comments above is IMO only
I was there's
On the positive note
Ferris knows is stuff
Shares are under valued based on current eps and future outlook
Ferris and Matthew got 95% the other 3 got 56%
Negative.
Ferris imo should not be the CEO for vtsi.
Will not entertain a board member from shareholders that come in with a 40% block with out a fight
Ferris feels the current board members are doing a great job "based on the compensation that they receive"
Did not talk about current or a forward sales forcast
Does not really want to do a buyback even though he has approximately $800,000 available.
No future aquasition in the foreseen future(imo).
Imo
This stock will increase slowly unless we are bought out.
They never had a potential aquasition in mind
They never really wanted to do a stock buyback.
Yes I feel has lied to us so maybe he is a perfect CEO
Yes. I have very little faith in current management to increase sales in a rapid time frame
Sorry for the begative report.
Cannot get on the board as it is under the 90 days but I intend to be there and possibly with my lawyer.
I am not sure yet but I have consulted with my lawyer and will advise
If anybody can send me a link to the current bylaw please send it to me
last week I requested from VirTra about becoming a board member. They responded to me "its in the bylaws". I requested a copy of the current Bylaws but have yet to receive them.
I am considering running for a seat on the board as long as I have enough votes behind me.
Its time we have a board member who owns a fair amount of shares and looks out for the shareholders.
If any other shareholder wants to run I would be happy to support them
Ferris does not and will not address this. I will be going to the shareholders meeting this year and will request him and the board to step down.
Ferris can keep his salary and as he is the brains of the development he should stay with the company.
I will also ask the stock incentive be taken away or reduced to a reasonable amount. I will also request that the profit sharing be correlated to increased profits not to profits as a whole.
This company needs a shakeup. salesman should have a low base salary and a high commission rate (ie. $26K as base plus 3-5% of sales rate goes up as he hits higher sales). Just think a sales person selling 4 units a month would get $60K commission for the month and our sales from 1 salesperson would be$13-14m.
we need to start this campaign now
If we threaten to put a real stockholder on the BOD the stock will go up.
I thinks its time to find out how we go about it.
It seems to me every time we post a message on this message board that we want to put to a seat on the board the stock goes up. IMO
Maybe its time we reach out to Ferris/BOD and ask them if they would entertain an outside board member with the backing of a group that consist of 15% ownership
I would prefer not to be a board member but if need be I would have no problems being a board member
PR RELEASED
VirTra, Inc.
(NASDAQ: VTSI)
May 7, 2018
Greetings!
Today, VTSI announced that it will release its financial results for the first quarter ended March 31, 2018 after the market closes on Monday, May 14, 2018. The Company will host a first quarter 2018 results and business update investor conference call on Monday, May 14, 2018 at 4:30 p.m. ET. Press release below.
If you no longer wish to receive updates on this client, please reply to this email and you will be removed today.
VirTra Schedules First Quarter 2018 Financial Results Conference Call
Conference Call Scheduled for Monday, May 14, 2018 at 4:30 p.m. ET
TEMPE, Ariz., May 07, 2018 (GLOBE NEWSWIRE) -- VirTra, Inc. (Nasdaq:VTSI), a global provider of training simulators for the law enforcement, military, educational and commercial markets, announced today that it will release its financial results for the first quarter ended March 31, 2018 after the market closes on Monday, May 14, 2018. The Company will host a first quarter 2018 results and business update investor conference call on Monday, May 14, 2018 at 4:30 p.m. ET.
Conference Call Details:
Date: Monday, May 14, 2018
Time: 4:30 p.m. ET
Dial-in Number: (877) 407-8031
International Dial-in Number: (201) 689-8031
Webcast: http://www.investorcalendar.com/event/29320
Participants are recommended to dial-in approximately 10 minutes prior to the start of the event. A replay of the call will be available approximately two hours after completion through May 28, 2018. To listen to the replay, dial (877) 481-4010 (domestic) or (919) 882-2331 (international) and use replay ID 29320. The webcast replay will be available through August 14, 2018.
About VirTra
VirTra is a global provider of training simulators for the law enforcement, military, educational and commercial markets. The Company's patented technologies, software and scenarios provide intense training for de-escalation, judgmental use-of-force, marksmanship and related training that mimics real world situations. VirTra's mission is to save and improve lives worldwide through realistic and highly-effective virtual reality and simulator technology. Learn more about the company at www.VirTra.com.
Thank you for your interest. If you have any questions, please contact Brett Maas at brett@haydenir.com or 646-536-7331.
Sincerely,
Brett Maas, Managing Partner
tel: 646-536-7331
cell: 480-861-2425
email: brett@haydenir.com
Hayden IR
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When the price goes up then we will be rewarded until then we wait
2 Things.
1) you might have it the whale by buying. I always time things wrong.
2) they probably know about this last month and still went ahead with the reverse spilt. never needed to do it.
I will keep quite for a while. hope it takes off today.
Fishhunter
I truly believe that you are a believer in this stock. did you ever hear of the stockbroker who tells his client "I have a great stock it's $1.00 it will go up. So his client bought 1,000 shares. the next day the broker calls the client hey the stock is at $1.25 buy more and the clients say ok another 1,000 shares this goes on for a few weeks and the stock is at $3.00 so the client calls the broker and says sell all my shares. the broker says the selling price for your share is $1.00. the client goes but its $3.00 the broker says yes you are the only purchaser of the stock and nobody else is buying.
LET THE STOCK GO DOWN - Stop buying. hopefully the bleeding will stop but someone out there wants this stock to go lower. it will be a losing battle unless you want to own the company
The BOD does have a fiduciary responsibility to the shareholders NOT the company. They are liable if not. If the shareholders got 1 board member that board member would make a difference as the shareholders would have an inside person making sure that the shareholders are 1st.
I would very receptive to the idea of putting together a group that owns 20% of the company and elect 1 board member to represent us. If we are going to do this we should start now to put the group together.
I might not be the best person for this job but I will offer myself if need be.
Thank you for your answer.
2 more questions.
Can they continue with the selling of issuing additional shares without a new vote as the percent of ownership under the old vote will be diluted 50% more.
does the stock incentive plane also get the 2 to 1 reverse split
I wish I could figure out the wording better but I think you understand the question
does anybody know if they are allowed to do a Reverse split without a vote?
THERE IS THE ANNOUCEMENT OF THE 1 FOR 2 REVERSE SPLIT.
IS THERE NO VOTE ON THIS?
THEY WILL STILL OFFER THE ADDITIONAL SHARES AND OUR PERCENTAGE OF OWNERSHIP WILL BE REDUCED DRAMATICALLY. PLUS THE ADDITIONAL INCENTIVE SHARES.
PLUS THE 15% PROFIT SHARING
WE ARE GETTING SCREWED. TIME TO STOP THE BLOODSHED.
ANYBODY KNOWS WHAT WE CAN DO?
IMO
The lower the price the better it is for Ferris and the board.
1)they will get a lower price on incentive shares
2) they will ask for a 2 to 1 reverse stock split remember they wanted a 100 to 1 reverse. this would equal a 20-1 RS
They have been advised by their Financial Adviser exactly what to do so both Ferris, the board and the financial advisor makes the most profit.
We are helpless unless we get a outside shareholder (one of us) on the board even if they do not add to the company but stands up for the outside shareholders.
I would volunteer myself, even though I would not add any value to the company, but I would add value to the outside shareholders.
Just my opinion.
We, the shareholders are at fault.
After the company did the R/S, We are allowing them to float more shares and for what reasons.
1) to raise more money, VTSI has enough cash plus if VTSI was going to purchase a company they could use there shares
2) allowing VTSI to give stock incentives to current employees - there already get 15% of the profit.
VTSI has been and currently getting bad advice, for the shareholders(VTSI can call it good advice for themselves) from the investment companies the have had and currently retain.
I own over 1.5% of this company and I am sure we can all band together to correct this problem but we all most be on the same agenda.
1) making the company more transparent
2) shareholders 1st (VTSI to answer shareholders questions and concerns)
We need to elect a BoD who is an outsider and is an owner of the stock. We should try to get a majority voting block, yes we can, as VTSI only got 51% of the vote to be able to issue more shares for stock incentives. We should start now and not wait until the end of the summer when they will try to squeeze more out of the shareholders
IMO Only
who's to benefit from a lower price of the stock
1) the investment banker firm they hired - VirTra has to sell more share at a lower price to raise the same amount of capital. there customers will profit more and they will profit more
2) lower price will give the incentive stock program a lower basis so the BOD and executives will profit more
Like I said a few months ago:
1) VTSI will get screwed by the investment firm (like in the past)
2) There was no reason for the stock incentive plan to be so high (should have been defeated might have been that is why they never gave us a vote count only a percentage)
In the long run - 5 years down the road it will not make a difference unless somebody starts a class action suit against the company, which might happen
JIMO
JIMO
11/08/2017
10:54:27 AM ET
$3.01
2,953.000
$8,888.53
I bought 2953 @3.01 today so 25 trades
I wish I would have known last week as I was up in Albany visiting my daughter who is at SUNY Albany.
When I went to SUNY Albany my fraternity was at the opening of Crossgate Mall as a liaison between SUNY Albany and the mall.
I might have to ask my daughter to check it out with a few friends, on my nickel, and report back to me.
Hey would that be tax deductible?
20 years ago I was an investment adviser for a mutual fund that I started. unfortunately the fund closed within 2 years. When our fund manager purchased large quantities a stock that was not widely traded, the trades where done in the way I mentioned in my previous post. This way the stock would not spike up while we where purchasing the stock in quantities.
a 60K stock trade can happen without moving up the price can be accomplished when an institution or investor tells the broker to purchase shares on the open market for them accumulate them and then sell them to them at an agreed price.
My question is shouldn't current shareholders have an option to purchase shares at the secondary offering up to the percentage of ownership we have?
IMO - All of a sudden there is an increase in the stock when VTSI is offering a compensation package. To me it seems a little "strange/odd". Pushing up the stock before a vote will get some shareholders to alter their position on this HUGE stock incentive plan.
The CEO, BOD .... have not increased their shares in the open market in years. Why not let them wait a year to see where the company goes when they go to the NASDAQ. Let them gamble there own money 1st before getting "free Shares". If they believed in the company they should have purchased a few weeks ago when the price of the shares where sub $2.00
1% per year is way out of line unless the exercise price is double the current stock price
I say VOTE NO until the stock is fairly priced in the market. 4X-5X sales or a 25 PE ratio - Just in my opinion.
Like I said before Ferries is a "Big Fish" for the Investment community. He is getting eaten alive.
We need a CEO who knows how to navigate these waters. GreggAZ please do not take this the wrong way as I have read your Bio,but if you are advising VTSI you are not doing justice.
VTSI might survive the "feeding frenzy" only because they have a great product.
I would have no problem if VTSI hired a CEO paid him $250,000 plus options on the contingency of the stock rising to $8.00+ I would give him 5% of the company plus huge bonuses if he produced those numbers.
How do I get involved in that group.
Yes, Ferris has done a great job but he is a "big fish" in the financial arena. They always eat him alive.
Maybe we hire our own consultant to make sure we are protected.
Grey Goose - need to think higher -when it hit $8.00
Macallan Fine Oak Single Malt 21 Year Scotch
October 6 is the 2nd day of Succot.
is anybody going to the shareholders meeting? if so we should have that person stand up and speak on our behalf.
Joe Lawyer, are you a lawyer, if so can we start a class action lawsuit and get the list of shareholders and contact them?
or if we combined our shares what % ownership do we need to show a force. for some reason if think its 10% or 15%
We have a great little company here and now ferris has hired an investment firm who will be vultures and leave us long time investors with a small profit while they will make millions.
I cannot go to the meeting as its a Jewish holiday for me but I will entrust a spokesperson on my behalf of my shares.
I also have friends who own shares, probably 1% accumulative
Sorry about that. It was a poorly written post
I own 225,000 shares aprox 1.5%
what I was trying to say is the equity plan they are asking for equals aprox 15% of the outstanding share 2,375,000. I would never approve that large amount I would approve 235,000 shares.
VTSI - just did a reverse split, buying back shares and now what's to increase the outstanding shares to incentive themselves. Yes they are options so the main question is at what price? if they are at $4.00 a share then I might consider it but below $3.00 a share NO WAY.
Why doesn't VTSI offer all shareholders the same deal. give us options to purchase 15% of our shares at the same execution price. all of us longs have earned it.
I meant to say the Equity plan is over 15% of the outstanding shares.
I will vote NO my 2225,000 shares. that over 15% of the shares. Plus 3% increases. I would vote yes to 1% of the shares 160,000 Equity plan.
Like I posted before when they uplist they will dilute our shares and Ferris will not be diluted.
We must make a stand
A total of 2,375,000 shares of our common stock will be initially authorized and reserved for issuance under the Equity Plan. This reserve will automatically increase on January 1, 2018 and each subsequent anniversary through 2027, by an amount equal to the smaller of (a) 3% of the number of shares of common stock issued and outstanding on the immediately preceding December 31, or (b) an amount determined by the board.
The CEO does not have to value his shares as much as ours as he will probably get diluted then offered options to purchase shares at the current price ($2.00), maybe called VTSI-P but after the IPO the value will be much higher for his class of stock.
Best for outsiders to do is join together and make sure we do not get a raw deal.
I am pretty sure we can get 25% of the shareholders to join together and demand information. Even if it means a class action lawsuit.
I know many lawyers and investment bankers that can help us, if needed but only if we have a united front.
We should at least try to see how many shares and shareholders we can get on our side to demand a private meeting with the Ferris and the investment firm.
The idea of repurchasing shares, retiring the shares and then floating new outstanding shares to me sound "fishy" (sorry fishhunter but I could not resist)
I would have gone to the shareholders meeting but its a Jewish holiday and cannot make it.
I am a follower of VTSI as I have owed this stock for over 8 years. I was around when we had Duchess on our heals.
I own over 1.5% of this company and a little disturbed about issuing additional stock (a secondary IPO) when the management does not purchase at these price.
What is going to happen:
the board of directors and the management team will be offered free or low cost shares, my guess north of 10% of the company with no risk involved.
Our shares will be diluted.
Yes we will have even more cash on the books but there are other ways to purchase companies, If insiders purchase just 500,000 shares. VTSI purchases 500,000 shares. and current shareholders purchase 500,000 more shares this stock would be a $4.00 stock. then we can purchase other companies with stock.
the selling of additional shares was probably the only way they are able to get an investment banker involved in VTSI was VTSI to do a secondary IPO.
I, as a share hold would rather have a boiler room investment firm promote this stock and pay them for the promotion, kindda like promoting your company on facebook, tweeter and social media ect. It will be much cheaper and more efficient.
Current shareholders value will not be improved unless we get together and put a united front and start putting pressure on VTSI. maybe even monthly conference calls between us.
I have nothing against Ferris or the board but its time to do something.
I have recently added 25,000 share to my holdings and will be adding another 25,000 shares in the next month.
I believe we will make money no matter which way we go but I think we will make more without the secondary IPO.
I never post on this board or any board. I have owned VTSI for over 8 years. I own over 2mil shares. It seems to me there are a lot of 1%ter's that own this stock. I would like to propose we all get together and try to get 1 of us on the board.
revise adam 140K plus freind 60K