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I took some!
And is there any law to prevent the contract from being upped from $40mil to $80mil? Come on Bill, there must be some days when your glass is half full rather than half empty.
By the way, I wrote an awesome reply last night that was only up for a few hours before someone must have complained and had it deleted.
Sure was rather easy buying shares this am at 2.00. Sad....but easy!
Especially when we are only 12 trading days away from the Q2 report!
Last year's Q2 was $3.38mil in revenue and $71thou in net income.
Stock is currently priced for flat YOY performance in my opinion. Based on what was said in the Q1 report, me thinks they will do better than last year's Q2.
....and going forward think about how that 5yr 40mil contract is becoming very "end loaded" as each month ticks by.
....and what if D&B reviews are favorable and they roll this out to all locations.
There is enough meat here and enough potential sizzle here for VTSI to be a really fun stock to own going forward.
Sort of fun thinking about that sort of number....it would be a market cap of $108million. Actually not silly high assuming revenue this year pushing toward $20mil and 2018 of $25mil organically and perhaps $30 - $35mil with a niche acquisition. EPS next year could certainly be pushing 30 cents so a PE of 20 gets you $6.
So, if things break nicely for VirTra certainly plausible to see $7 or better pretty soon.
Though today I would be happy to see a bid over $2...sigh.
Managing several hundred million is pretty impressive. I guess it makes sense if that is his charter or required for his insurance or that sort of thing.
I would still think that as long as he would disclose that sort of thing (non-SEC stock) to a specific client and maybe have that client sign a special waiver then maybe it would be possible? I haven't a clue, just rambling/speculating.
I guess the good news is that the SEC hurdle should be behind us in a couple months or so.
Anyone out there find any reviews or comments on the Modern Round bays at Ontario Mills? I tried searching mid-day today but couldn't find anything. I I'm Modern Round, why so tight lipped about this?
That was probably me Bill. Since you keep threatening to sell I sort of figure you maybe got started...and so I egg you on a bit.
And a note for Gregg....I think most everyone here enjoys your posts and that includes me. You obviously understand a ton about companies and stocks and trading and such. You are also sometimes a wee too cute with your wording.
Like in your last post where you said the VirTra market cap would likely be increasing and making it sound like a good thing. While we would all love that if it happens because of a rising share price, we will all hate it if it happens due to a capital raise/issuance of more shares.
I also do not think it is so difficult to find new buyers of the stock. I simply think that none of the BOD or execs or IR Larry are even trying. All of them and all of us know people that do exactly what most here do - invest in individual stocks. I have probably gotten at least 3 or 4 others to buy some shares. Not big positions but something. I would just like to see the company be a bit more aggressive in their approach and actually be confident enough in the company performance to drive ownership of the stock without having to resort to playing all the games that advisors recommend.
In a case like this the company should reach out to the seller and offer to buy all their shares at 2.10 or 2.20.
In the past I've owned several companies that have done this very thing. The most recent being UVE several years ago. It works out well for everyone involved.
You must have a sound mind and a great memory and/or are a great researcher and a nice guy willing to share! I know I read that in 2015 but it sure didn't stick. At least that would seem to be the D&B link.
I think it is simply someone with a large position that wants out. I don't think they care about momentum or anything else. They just want fewer VTSI shares.
20,000 shares is a significant number. 1 day's volume. 1/8 of 1% of outstanding shares. 1/800 of outstanding shares. So, this is not a manipulator since too many shares involved.
I would guess someone on this board knows who the seller is. Sure would be nice to know what they are thinking....or not. I mean why not wait 1 month and sell for $4?
I wonder when Bill will run out of shares? 19,300 being offered at 2.05. This is pathetic....and stupid.
Holy smokes. I just took a look at PLAY (Dave & Busters), now there is a company hitting on all cylinders with a beautifully rising stock and super nice balance sheet. Maybe someone with a half a brain does reside at Modern Round....and perhaps the biggest beneficiary will be VirTra. Let's hope/pray/meditate/ponder/cross fingers&toes that this concept works. Suddenly the icing on the cake is still a possibility.
Great points all around czmkid. Hopefully some good questions will be submitted for the Aug 14th webcast.
rmiller, Why isn't there any mention of this on the Modern Round website? It is not listed under new locations. It is not listed under News. It is not mentioned anywhere. What an infantile poorly run organization - Modern Round.
Gregg, Thank you for the reply. My opinion is that it would be insane for VirTra to have a secondary. Diluting current shareholders is ALWAYS a bad idea UNLESS the stock is crazily OVERVALUED. In other words, right now VTSI trades at a PS of about 1.8. Certainly not overvalued, perhaps fairly valued, perhaps undervalued. If VTSI were trading at a PS of 10 right now (that would be a share price of about $11), and they could find investors to buy 4 million shares at $9 then I would be all for it.
I think the last CEO that had a share buyback one month and then a secondary a few months later is still in prison.....I hope.
GregginAZ, What do you mean by "capital raise"? Are you saying that VirTra is going to dilute us?
OT: And why be pessimistic about the stock market? In the history of the world, has anything bad EVER happened to the stock market or major investment classes like real estate and bonds? Nope. There might be some nasty short term dips but things always recover. They actually have to as long as the Earth's population continues to grow. Over the long run, demand will always be there for products and services. Always.
And for those worried about stupid things like population and climate change, look out the windows next time you fly or take a train. This country is empty. China is empty. Canada is empty, Mexico is empty. Most of India is empty. The world could have 10X more people and no one would notice. Climate change - I'll worry about that when my drink overflows as the ice cubes melt. Oops, that doesn't happen either.
And why should any of us care about any of it? We are each lucky to make it to 70 or 80 or 90. An insignificant amount of time.
OT: I am way more optimistic. No matter what one thinks of either Obama or Trump both have done a great service to this country. In their own ways they have highlighted the hypocricy and the danger of establishment politicians no matter the party. I think we will continue to see more and more non-politicians running for office and that is a good thing. They have also each done a good job of showing people that government is not the solution to most problems. There is value in that.
You will also be far happier and better informed if you simply do not watch any TV. Turn it off and leave it off. Same with national newspapers, they are all garbage. Local tv news and local papers are still mostly ok.
All one needs to do with media is watch the first 10 minutes of GMA for the lunacy of the left and then read the Breitbart or Drudge headlines for the lunacy of the right. I'm not saying the middle is the place to be as there is a correct solution to every problem and with compromise and negotiation one usually ends up with the worst of both worlds.
I also love that Trump uses Twitter. Without that, the national media would be able to completely shape all our thinking and that is wrong. Whether Obama or Trump or the next pres, it is wonderful to hear directly from them.
I don't know Bill, I still think there are plenty of stock pickers like me out there who love tiny company stocks. I started investing/trading in very early 1990s and over the years have gravitated to these sorts of stocks (VTSI, CNAT, BFDI, etc.). Those sorts of stocks are the only reason I have a bit of money.
But you are correct in that no institutions or brokers or money managers will ever recommend them. Most of those folks are sheep and do not care about their clients...only about doing the safe thing and separating their clients from their money.
That said, at some point, the numbers and/or the product and/or the stock will get "the right someones" attention and it will be off to the races.
I think it is as simple as "no buyers" and a couple somewhat motivated sellers.
Or perhaps....very cautious buying by 2 or 3 people and somewhat cautious selling by 2 or 3 people.
We need someone to step in and say ....I want 3% of the company, let's start buying. Then once it starts moving up, others that had been watching will jump in.
It just puzzles me that it seems there isn't even one person out there anywhere that wants to build a substantial position.
I will never understand why sellers are so damn stupid in the case of VTSI. They simply go to the bidder and say...here ya go, take my shares.
And who on Earth sells NOW. This is perhaps THE WORST time in the history of the company to sell.
I will bet anyone here that within a few months the Minneapolis Police Dept places a massive order with VirTra. Minneapolis will pay out many millions this year in civil settlements.
I have had that sort of thing happen a few times with other OTC stocks. It is not supposed to happen though. Sometimes I wonder if it is a late day trade from yesterday just being recorded today or some sort of nonsense like that.
On second thought, maybe not since I'm not sure they can use a standing bid. Seems to me some companies are far more creative than others with respect to interpreting rules.
Don't ya'll think it is the company with the 7100sh bid at 2.05?
I think on any 1 day they CAN exceed the 25% but not over 1 month. Not really sure though.
You are exactly right Schneid. The market is not giving VirTra any credit for having that cash and NOLs. Think about it this way, if VirTra had zero cash and debt of $5million would their share price be any different? Nope. They need to deploy that cash in whatever way is best for the company. I like the small $1mil buyback. And I would really like it if they could make a meaningful accretive and smart acquisition. Maybe buy something for $10million and when the deal concludes VirTra has net debt of $3 or $4mil but an extra $10mil in revenue and an extra $1.5mil in net income. Easier said than done.
Today's PR is awesome news for several reasons:
1. Shows Ferris is listening to shareholders.
2. The fact they issued a PR is progress. They didn't have to issue one.
3. The fact they are retiring any purchased shares is REALLY REALLY SUPER DEE DUPER good news.
4. It says this is likely the bottom for share price.
5. Says, hey, we've looked around and the best investment we can find is our own shares.
This is an awesome time for all of us to be adding shares.
Wow - Another bad one in Minneapolis. If any department in the USA needs the type of training VirTra offers, it is Minneapolis PD.
I lived in Minneapolis from 1989 to 2002, the cops were a brutal bunch back then and it appears that at least some of them still are. Minneapolis will be paying out over $10mil this year alone in civil settlements due to bad decisions by officers.
OT: How is that I can walk for hour upon hour picking up seashells and sharkteeth and feel so relaxed? I really love the Venice area.
Then all I have to do is glance at the VTSI ticker to have all the relaxation wiped away in 1 second.
If me and the bride ever get back down to Venice we all will have to get together for a drink or dinner or simply some bad tasting ocean fish.
I wish Ferris would put that much thought and effort into increasing the company growth rate from 20% to 30% and ensuring a market cap that is 5X revenue ala Axon (formerly Taser).
They could get $100million TOMORROW if they put the company up for sale. This is part of my frustration - they need to get the current market cap closer to market value. That is their job.
I think I will have to backpeddle on that. Now looking more like early September, perhaps the 8th. Heard it from other shareholders I've been keeping in touch with.
They likely are more reputable than Miller. Did you look up the other company cited in the PR as an example. Something like no revenue, more debt than cash......and (drumroll) - a 2billion dollar market cap! So if they work that sort of magic on them, me wonders what they can do with a profitable growing company with a great balance sheet and product line.
My gut says this goes much higher soon.
But my gut also says there is something big that we are all missing.
Why uplist to Nasdaq when neither the share price nor market cap would suggest an ability to do so?
Why retain a rather high end investment bank at this point in time for what should be a rather straight forward move?
Why haven't insiders been buying?
Why hasn't the company been buying?
And who the heck continues to dump shares?
Ferris better be ready for about a zillion very pointed questions at the shareholder meeting.
He also should be confident enough to host a true conf call with the Q2 results and allow shareholders to ask questions for 15 or 20 minutes like many companies do.
Bill....Your message implies that it was You that got rid of that 10k bid...meaning you sold into it to fill it? What the heck. Hopefully I'm wrong
Well done Schneid and Bill...You guys could take that sort of act on the road and make a fortune. Except this points out that we are all old farts since we know Ann Landers.
Anyone else find it somewhat comforting/encouraging that the shareholder meeting is likely on Aug 18th only a few days AFTER the Q2 results are announced. I think if Q2 were going to stink, the meeting would be earlier in August. It would be rather fun to stand in front of shareholders just a few days after delivering great results.
....or am I being too optimistic.
I don't know avocado, I would argue that there are things we can do about it, after all we are the owners of the company. Ferris serves at the pleasure of the BOD and we the shareholders elect the BOD. Easier said than done though.
VirTra is not the same as healthcare. Healthcare is an easy fix. Get the government 100% out of it and let people get their bodies fixed the same way people find ways to get their cars fixed.
Retail runs flawless - Great products, low prices, no government.
Car repair runs flawless - Tons of choice, great service, cheap, no government.
Grocery Stores run flawless - Tons of choice, cheap, no government.
avocado, The point you are making is obviously a good one and more truth to it than not. To be fair though, you are cherry picking the 30cents and could just as easily picked a much higher price which changes the percentages a ton. But again, the point you are making is a good one and should be remembered.
What I need to keep reminding myself is that while VirTra and their product seem obvious to me and seems like it has been around forever to me, they are still a tiny company and 99% of their potential customers have never even heard of them or their product. At some point they will break through. Usually this sort of thing happens when a company crosses the $20mil mark. I just hope they are capable of scaling up rapidly and handling the growth profitably. They will need a top notch operations guy when this does happen.
True Bill. That said, I really do not believe there is any sort of normal supply/demand market for VTSI stock. The daily trading volume continues to be about nothing and so up/down moves are entirely due to what 2 or 3 individuals decide to do on any given day. Quite a few posters here could crash VTSI to below $1 simply by selling all there shares in one day. Likewise, many here could drive this up to $3 in a heartbeat if they decided to buy 300 or 400k shares in one day. So even though this price and movement is driving me crazy, I have a hard time being deeply concerned about any of it. Though Ferris really should comment and they should get the Q2 numbers out asap.
Me too. I just bought 3k shares in three separate 1k orders to get rid of those at the 1.80 ask.