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ITMD:
You've seen comebacks from this level. But if the assets are there and are in some sense being protected for shareholder benefit, why wouldn't people in China buy shares?
If the opportunity is there, why does no one close to the deal see it?
Jennifer has stopped responding to me, and others are beginning to suggest that she's gone.
Perhaps ITMD or someone who speaks Chinese has some thoughts on the matter.
i've not read this work, but understand that it's worthy:
http://www.amazon.com/Bad-Students-Not-Schools/dp/141281345X
(Sorry, Felix. I know you and others want the board to focus on our marvelous little company.)
Mr. Kitchen, at the time of the near bankruptcy, you were quite negative on Virtra. Am hopeful that your sudden appearance is a good sign and that you are being 100% straight.
Another reason for the unseasonably cool stock price is the company's pink-sheet status: an opportunity for buyers, most likely.
As this is testimonial week, let me say that i've been here for years and (stupidly, in the many short-term runs) have never sold a share. the story always made sense to me.
am hopeful that we'll have reason to give thanks to redinvest, who oversees a singularly decent public yahoo board; to BB, who strives to connect dots; to homeport, who is a workman in the best sense; and to markgovals, who does not -- I believe -- overstate what he hears.
and there are others.
my guess is that we'll hear good news and that the game will go on.
The phrase "the exception proves the rule" means this: the exception tests the rule. The usage is old but is still present when we use the phrase "proving ground."
In the context of what preceded it, your post is one of my favorites of all time. Pithy!
Shark Tank is a remarkably interesting entrepreneurial-negotiation program shown on ABC (Tuesday 8pm EST). Hopeful executives appear one after another to make a pitch for capital from five investors who commit dollars out of their own pockets. Maybe one out of every four of those encounters results in an investment.
Last night included VirtuSphere, which did not attract dollars but has an interesting product, which (in comparison to the Virtra System products) may be inferior for military and police use, but may be superior for arcades; but you tell me what you think: http://www.virtusphere.com/
**************
here is a summary of the segment, from http://tinyurl.com/yfab4la
"Up next are Jim Dimascio and Ray Latypov who are asking for a whopping $1.5 million dollars for just 10% equity in their company Virtusphere. The product is a huge plastic bubble, a virtual reality locomotive center that will change how people train with virtual reality simulators and how people experience video games. So you climb inside this giant bubble that is located on a platform that allows the bubble to move 360 degrees. The player wears a virtual reality headset and is able to walk around in the game in the full 360 degrees."
"Kevin O. tries it and loves it. The product’s main purpose is to train U.S. Army ground soldiers. It is available to be sold for home use but at $50,000 dollars a pop it is very unrealistic. Instead, Jim and Ray imagine it would be a great product to sell to arcades.
"Robert absolutely loves the Virtusphere, but thinks that it is so far from a consumer product that the only available market is the military. The problem is Jim and Ray haven’t made any profit off of it and it would be a long time for the sharks to get their 1.5 million back. For those reasons, Daymond, Kevin H., Kevin O. and Barbara are out. Robert hates to let the idea go, but thinks that it is too early to tell how it is going to take off and he is out."
manipulator. there oughta be a law... oh, there is!
Chief economist of the International Energy Agency says that peak oil is not 2030, but 2020; and that a real oil crunch is likely to begin as early as 2010.
http://www.independent.co.uk/news/science/warning-oil-supplies-are-running-out-fast-1766585.html
EPU is a good tonic. If he is wrong, posters should dispute him, but not with a back of the hand.
Exit strat'gy: wait for another company to buy Virtra.
oh, i added to my post. (it's so much fun to drink a liter of beer...)
as learned said, my objection was tiny: the PARAGRAPHS were forbidding, not the content.
and i do think there is room for real optimism now. my experience friday was that Scottrade said 7.8 cents, and i said, "wow, really?," and looked again, and it was 6.5 cents, and i thought, "a mistake before? odd."
at 9+ cents, i did my best to sell into the onslaught (not much was possible), and then bought the few shares back at 6 cents.
Ferris is an impressive character, and now mentions God. I'll keep my shares into the future and may add.
tobaonaces80, it would be much easier to read your ideas if they were placed in separate and short paragraphs. FWIW, I tend to avoid reading posts that are as forbidding as your last two; and my guess is that at least some other people feel the same.
no great emotion here; just a preference.
Welcome to DewDiligence, a man who is not always right, but is studious and has integrity. Hope he doesn't skewer the whole idea of ERHE!
I never read KeithCracker. It would be best if no one did.
Others speak badly of Virtra but have something to say. My recollection is that this guy is adolescent; and he seems to have upset you.
Please ignore him.
a flight to quality. <eom>
laughed out loud. i was trying to think of a way to respond, and you found it.
I ought to read a book or six on finance. but instead, I glance through reports like this and flip a coin. (You can guess at the consequences of my having that kind of background and attitude. My wife and I are wondering whether we can afford to go to dinner with friends tomorrow.)
Now I've told you the quality of my financial insight, I ask you: Doesn't the report tell us that the firm might survive and even prosper? As in... "thank God"?
if you drill it, they will come.
http://www.voanews.com/english/2008-11-12-voa40.cfm
It's a cryptic response.
As you were telling the secret, did Ferris shoot you?
"Dutchess has agreed to convert stock per the original agreement."
Would someone please clarify the bottom line on this stock, given this agreement? For example, what is the likely share count and debt; and what is the possibility that we will someday see a share price that is worthy of great excitement; for example, $0.024?
Shareholder letter here. Earnestness counts.
Felix, in view of what this firm has put us through, no one owes apologies. Let's stick to the facts instead of riding the karma machine.
***************
Dear Friends and Shareholders,
Attached you’ll find a copy of VirTra Systems’ quarterly report for second quarter 2008. I am very pleased to share with you one of the most encouraging quarterly reports in the history of VirTra.
In my last letter to you, I explained that VirTra needed to focus time and resources on building its business, today I report a tremendous quarterly result for the shareholders.
I also explained that VirTra needed to reduce its operating costs, and today I report that 2nd quarter operating costs are down $376,070 compared to the same quarter last year. In addition, our sales are up 29% from the same quarter last year. This is remarkable when you consider last year’s second quarter was particularly strong for VirTra.
I explained that our profits have been curtailed due to the growing cost to be a “fully reporting” company, and today I report VirTra was profitable in the second quarter, primarily due to reduced operating expenses.
I have also attached a picture from our recent tradeshow in the Mid-west. The large black tent contains VirTra’s IVR-300 HD law enforcement simulator. Many told me that we were “the hit of the show”. If a customer doesn’t know about VirTra, they have no way of buying from us; one major need for VirTra’s success is to establish improved sales and marketing channels in the US and internationally. Our plans are only to intensify the marketing effort in the coming months and years.
The improvements at VirTra reported today have not been without sacrifice. The last 2 months have required redoubled effort from every employee at VirTra, to go the extra mile, and to produce results.
While we still have much to accomplish, it is satisfying to see that the second quarter report reveals some of the positive results so far.
I appreciate all of the continued support of our shareholder base, and please know that a talented team is working diligently for the success of VirTra and all our supporters. Today’s report is just the beginning of a trend I want to continue of improving our Company each and every quarter.
These are simply my personal comments, and should not be relied upon in your investment decisions. I strongly urge you to conduct your own due diligence with regard to any investment in VirTra Systems. I respectfully refer you to VirTra Systems' past filings with the United States Securities and Exchange Commission.
-- Bob Ferris, President of VirTra Systems
What are the questions?
"Is there any legal basis whatsoever for arguing, 'But look how much Virtra has already paid?'"
"Do Duchess and Virtra have a shared interest in Virtra's staying solvent?"
"Do Duchess and Virtra have a shared interest in a quick resolution?"
"Is our investment worth anything?"
"To whom is it worth anything?"
"Is Virtra now owned by Duchess?"
isn't another implication ... that the firm can sell shares at will? If you feel that Ferris is of great integrity and committed to a common good...
we can only hope for a return to SEC reporting.
i wonder if that little uptick in the stock price was from people who knew an announcement was coming, but did not know the content. probably not.
Deals are deals when they are complete. There is no "close," in a sense. Negotiations often end or are suspended.
ERHC traditionally does not pump. But now they are "letting the cat out of the bag" -- in other words, trying to sell the stock. No mention of investigations or the dominating ownership by the man.
What's in it for them? Why does a company take the time to do this?
What is needed in future communications from Virtra:
"Candid suggests that one is sincere and truthful or impartial and fair in judgment, sometimes unpleasantly so: a candid expression of opinion."
from http://dictionary.reference.com/browse/frank
maybe someone will, with about as much benefit as from previous conversations.
no, this is the Ferris show now.
Ferris could give us an honest appraisal of what is possible; but maybe the whole deal now is finding a buyer at 1 cents, and there's just nothing important to say; for example, about Duchess. And what the hell is the story with the tax man? A "balloon," said the General, without noting the date or amount.
Makes me angry, when I wasn't really engaged before and was numb. Nice of the boys to rescind their special compensation, though.
The relocation idea seems senseless. The General probably said, "no more" for reasons of business despair or family or both.
Wasn't it Ferris who wanted to sell the firm for what probably now seems a princely sum? I met him once and thought he was comfortable in his skin and quite intelligent. A forthright statement from him -- perceptions and plan -- would be slightly reassuring.
"The posts are his."
I no longer think the poster should be arrested.
This is the only cheerful argument on the board.
If it were Kelly, he would log on as RoseBowl and tell us so from there. "After he returns from his trip," you might say. His ego trip.
I say that the poster is not the ex-CEO of Virtra Systems; that Kelly has no reason to come back, while on a trip or not; and that the guy who is posting in this way should be arrested.
I also thought that SF's original comment was fantastic, as in "fantasy." What the hell do you mean, Sir Felix? One gets tired of phoning people who suggest a reality that is not... a reality. I imagined fine numbers, if only for the quarter.
What do you imagine?
Thanks, RoseBowl.
A request to create free-trading shares could be seen as bullish, at least if you were wearing rose (RoseBowl?) -colored glasses. Something with many shares would want to be in a position to sell if great things were about to happen.
Please don't yell at me, gentlemen. I know there is little reason to envision a positive company-changing event in the near future. But maybe small victories are adding up to something more than bankruptcy; especially if the execs are not scarfing up options.