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Another quarter, another delay, who's crying wolf now?
Total revenue reported for the first quarter was $166,005, down 44% compared to $296,878 for the same period one year ago. Net loss for the quarter was ($800,506), or ($0.01) per share, up from net loss of ($523,465), or ($0.01) per share, for the first quarter of fiscal 2004.
Lurkers beware, buy now and expect a short term loss. Buy when we are in the teens and make three cents a share!
Will VTSI ever be able to run like some of my other picks?
http://finance.yahoo.com/q/bc?s=CHGI.OB&t=5d
Up from 0.35 to over $2.00 in just a few days.
News YES, PPS Movement, NO!
Congress Approves $2.6 Trillion Budget
http://story.news.yahoo.com/news?tmpl=story&cid=615&e=4&u=/nm/20050429/pl_nm/congress_bu...
We will be in the teens as predicted. It has been incredible how accurate the predictions were.
Those lurking waiting to buy in, there is still time, the price will go lower, MUCH LOWER before it goes higher, even slightly higher.
I will sell, soon enough. I am still in the green, but profits are dwindlng away. There used to be high hopes for VTSI, now there is only the timing of my sells, I don't really want to drop to price to single digits single handedly!
This company has no sales, no future, only a CEO who seems to be smoking dope or something.
teens today
Kelly has missed the mark so often, who can believe him now?
Only 6 MarketMakers ABOVE 0.20
Lowers Lows, Lower Highs, near 52 week low and dropping.
'nuf said
Wouldn't the anticipated passing of the bill warrant a higher volume and a better PPS?
Maybe smart money knows that even with the bill passing, VTSI will not profit from it for quite some time.
Oly 6 MM nder 30. Blue sky ahead!
Wait,weren't we talking about how close we were to forty cents just a little while ago!''
How much lower can we go? We have hit all my predictions.
Executive Compensation
Summary Compensation Table
This summary compensation table shows certain compensation information for services rendered in all capacities during each of the prior three fiscal years.
Name and Principal Position
Year
Salary
Bonus
Other Annual Compensation
Restricted Stock Awards
Securities Underlying Options/SARs
L. Kelly Jones, chief executive officer and chairman of the board of directors
2004
$105,000
-
-
$310,000
$0.00 (1)
2003
$20,000
-
-
-
-
2002
-
-
-
-
-
Bob Ferris, president and director
2004
$90,000
-
-
-
$0.00 (2)
2003
$60,000
-
-
-
2002
$60,000
-
-
-
-
L. Andrew Wells, director
2004
-
-
$310,000
2003
-
-
-
-
2002
-
-
-
-
Kimberly Biggs, secretary and treasurer
2004
$30,000
-
-
2003
$16,500
-
-
-
2002
$7,500
-
-
-
$0.00 (3)
Michael Kitchen, executive vice-president of training and simulation sales
2004
$99,000
-
-
$4,000 (4)
2003
$33,000
-
-
-
The success of our new line of virtual reality training simulators will be affected by political considerations, such as the willingness of governmental agencies to spend additional amounts on our product to train military and law-enforcement personnel.
The major application of our new line of training simulators is the training military and law enforcement personnel. Although we have only recently unveiled these simulators within the past year, and have begun penetrating the market with sales to, among others, the U.S. Air Force, the U.S. Army, and the U.S. Department of Defense, we cannot give any assurance that the interest will be long-lived, that funds will be made available to acquire or our products for that purpose, or that we will be selected to supply the training simulators. In addition, it is not uncommon for expected contracts for which we have incurred significant marketing costs to be delayed until the required funds have been appropriated. Delays in funding can severely reduce our ability to meet our obligations as they come due.
Other companies with more resources and greater name recognition may make competition so intense that the business will not be profitable.
Although we have received a patent, have an exclusive license on a patent, and have several patent applications pending, covering our most valuable virtual reality technology in the training/simulation market, that patent, the license, and the other patents if issued, will provide only limited protection. They will not prevent other companies from developing virtual reality products similar to ours using other methods. If we are successful a number of other companies with far more money and greater name recognition may compete with us. That competition could exert downward pressure on the price we could charge for our products, making it more difficult for us to become profitable.
An investment in the common stock the selling shareholders are offering to resell is risky. You should be able to bear a complete loss of your investment. Before purchasing any of the common stock, you should carefully consider the following risk factors, among others.
The selling shareholders are:
Shareholder
Number of Shares
Dutchess Private Equities Fund II, L.P. (1)
22,530,000
Dutchess Private Equities Fund, L.P. (1)
3,020,000
Gary Cella
75,000
Total
25,625,000
· we have had significant operating losses since starting business and we expect to continue losing money for some time;
· we expect competition from companies that are much larger and better financed than we are;
· we cannot be sure our products will be accepted in the marketplace; and
· we are in default on loans from three of our shareholders, and we are also in default under several of our equipment lease financing agreements.
Looks like the volume was on the sell side.
VTSI Financials
PERIOD ENDING 31-Dec-04 30-Sep-04 30-Jun-04 31-Mar-04
Total Revenue 307 350 374 297
Cost of Revenue 406 41 253 161
Gross Profit (99) 310 122 136
Operating Expenses
Research Development - - - -
Selling General and Administrative 1,441 583 413 384
Non Recurring - - - -
Others - - - -
Total Operating Expenses - - - -
Operating Income or Loss (1,540) (273) (292) (247)
Income from Continuing Operations
Total Other Income/Expenses Net 4,621 301 - 1
Earnings Before Interest And Taxes 3,081 28 (292) (247)
Interest Expense 193 245 243 277
Income Before Tax 2,888 (217) (535) (523)
Income Tax Expense - - - -
Minority Interest - - - -
Net Income From Continuing Ops 2,888 (217) (535) (523)
Non-recurring Events
Discontinued Operations - - - -
Extraordinary Items - - - -
Effect Of Accounting Changes (46) - - -
Other Items - - - -
Net Income 2,841 (217) (535) (523)
Preferred Stock And Other Adjustments - - - -
Net Income Applicable To Common Shares $2,841 ($217) ($535) ($523
Will this release have any affect on the PPS today?
I do not expect any significant sales for a little while at the least. Reasons should be obvious to all but the casual observer.
I do not expect significant trading ever, just more than a dozen trades and 48,000 shares!
Time & Sales (Pathetic)
Price Size Time
0.28 2500 15:15:26
0.28 5700 14:46:07
0.28 2800 14:37:44
0.28 10000 14:06:53
0.28 2125 14:06:27
0.28 5000 14:06:26
0.27 5000 13:58:46
0.28 1500 12:38:43
0.275 1000 11:24:31
0.27 3000 11:24:25
0.28 100 09:30:53
0.26 10000 09:30:04
Yes, for every seller there is a buyer, that is the business of the Market Maker.
The question will be how much selling will be done before a buying interest is formed? The price will drop to the low twenties (or even lower if no good news soon). Any buyers in this range will most like play the stock and sell making a few pennies on each share and keep the longer term investors from ever seeing their price target.
I will be a buyer when it hits the teens again in April, I will be a seller when it goes back to the low to mid twenties in anticipation of the next quarterly.
OT: WE, YOU & ME
Any selling today and we are at low $0.20 fast!
NO: 2006 more than likely
It means we wont see forty cents for a really long time!
I predict we will be down by the close of the day. eom
Loss from operations
(2,352,535)
As of March 1, 2005, we had 60,859,064 shares of common stock outstanding, held by 161 shareholders of record.
VirTra Systems Files 2004 Annual Report
Tuesday March 22, 6:25 pm ET
ARLINGTON, Texas, March 22 /PRNewswire-FirstCall/ -- VirTra Systems, Inc. (OTC Bulletin Board: VTSI - News) today filed its audited 2004 10-K annual report with the Securities and Exchange Commission.
Total revenue reported for the year was $1,328,180, up 35% compared to $984,490 one year ago. Net profit for 2004 was $1,612,569, or $0.03 per share, up from net loss of ($1,536,669), or ($0.04) per share, in 2003.
"Whether viewed superficially or analyzed in depth, this annual report is proof-positive of the company's remarkable progress," stated L. Kelly Jones, VirTra Systems' chief executive officer. "In 2004, we unveiled innovative new products, penetrated our markets, and dramatically improved our balance sheet. This resulted from the concentrated effort of our entire organization -- our board of directors, management, sales team, and engineering staff.
"Largely responsible for the 2004 profit was the elimination of $6.8 million, or almost 90%, of our shareholder and leaseholder debt through a favorable debt-for-equity conversion, placing the company in a greatly improved financial position. Even after consolidation of our Phoenix production facility into our financials, we reduced our shareholders' deficit by $5.6 million, or 64%.
"2004 witnessed the launch of groundbreaking products in both markets. The IVR(TM) series of advanced training simulators led to our description as a 'rising star in the military training industry,' and resulted in initial sales and deliveries to the U.S. Air Force, U.S. Army, and the Department of Defense.
"We also in 2004 unveiled the Immersa-Dome(TM), and announced sales to Buick, Red Baron® Pizza, and the U.S. Army Recruiting Command.
"The foundation for corporate success has been laid. We eagerly look forward to the opportunities which lay ahead in 2005 and beyond," Jones concluded.
About VirTra Systems
Utilizing patented technology, VirTra Systems sells situational awareness/judgmental use-of-force firearms training systems to military agencies such as the U.S. Air Force, Army, and Department of Defense, and to national and international law enforcement agencies. The company also produces custom promotional virtual reality systems and 3-D theaters, using the sensations of motion, touch, sound, and smell, for clients such as General Motors, Pennzoil, Red Baron(TM) Pizza, and the U.S. Army. For more information, visit the company's website at http://www.virtra.com .
This press release contains certain forward-looking statements. Forward- looking statements are generally preceded by the words such as "plans," "expects," "believes," "anticipates," or "intends." Investors are cautioned that all forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from current expectations. VirTra Systems urges investors to review in detail the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
Media Relations:
VirTra Systems, Inc.
Steve Haag, vice-president
of investor relations
Arlington, Texas
(817) 261-4269
shaag@virtra.com
--------------------------------------------------------------------------------
Source: VirTra Systems, Inc.
The 'friends and shareholder' letter will include some very interesting wording. you will need to be a lawyer to make sense of it all. In a nutshell: we have the best product, just no one knows about it yet, and those that do, are waiting on budget money to make the purchase. next quarter will be the best quarter yet. pride in what was accomplished last year, clears the way for this year, yadda yadda yadda.
Sale price on VTSI stock starts tomorrow morning at the bell. Predictions are in and we will see a sharp gap down. Those individuals that were waiting for good news cant' will not wait any longer. With all the early morning selling, the MM will walk this down even more than it should be. Wait until the low twenties (or even high teens) before you make that speculative buy. And even at the new low prices, the upside potential is not there. This is a long term play (maybe another 7 years from now) before any real surge in volume and price. Money best used elsewhere.
Looks bad, real bad! No hope and 10K is out. What is the next excuse?
The opinion of our independent auditor for the year ended December 31, 2004 expressed substantial doubt as to our ability to continue as a going concern.
We will need substantial additional capital or new lucrative custom application projects to become profitable.
Only 11 mm under $0.40
Blue sky when
Blue sky if
Thanks, its about time someone decided to bring the board back ot its high standard.