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Didnt Teeroy just post a quote showing an authorization of 1.25 billion shares?
Either way though these additional authorized but not yet issued shares would amount to almost 10X the size of VTSI at present. Why is it such a huge number? I agree with the point that just because they're authorized doesn't mean they will be issued. We all know many companies where there's a large disparity. I would still wonder why the number is so huge though. And in a reverse split it will remain proportionally huge I would assume.
From p. 24:
"Mr. Ferris is entitled to 314,994,350 votes or approximately 68.7% of the total votes."
This looks like an announcement of the proxy, with the actual proxy not being available yet.
It should appear here: http://www.cstproxy.com/virtra/2016/ with more details I think.
Announcement does say they will be seeking to convert to a Nevada corp (from Texas):
"... to approve a Plan of Conversion in order to effectuate the Redomestication from Texas to Nevada (the “Redomestication Plan of Conversion”);..."
It looks to me like it was Unlisted, not Sold. The last sale was still 2014, when KDUS bought.
Bill you should volunteer to be an actor in a Virtra scenario:
Belligerent old guy who won't stop yelling at the cops
Were you not aware the stock was Pink when you bought it?
I think they WILL be an SEC filer if they uplist to the OTC
Cartonet -- what stocks do you own? You had a hell of a week this week, totally broke away from the pack. Congrats!
A reverse split is economically irrelevant. If it's to uplist that is only a good thing. If anyone runs for the hills on this one they got no business managing their own money.
Search $VTSI on Twitter and you will see that it was being talked about amongst followers of traders like Nathan Michaud, who put out a call for ideas that could trade in sympathy with stuff like Taser.
I think what happened is over the weekend people further reflected that this is a good area to invest in whether for the short or long term due to Dallas, etc and these events' utter dominance of the news.
But I don't think there's any reason to believe that 1,000,000 shares just went into long term hands today. Maybe there will even be a buying opportunity if people get scared realizing it's not that easy to get out lol.
Regarding reverse split, I see no reason to be worried at all. It will be a necessary step in order to get to higher exchanges and that will absolutely be good for all long-term holders.
41,000 shares traded so far today. Wonder if it's just someone getting out.
The people buying today are not strong hands. These are day traders.
There was a bit featuring Virtra on the local NYC news here this evening. NBC 4. Big media market.
It is strange that they have twice now made this hint about "increasing shareholder liquidity" but not said more than that.
Why hint without outright saying what they are referring to?
I believe they had $0.5mm revenue from Modern Round last year. IIRC it was disclosed in the Q1 report.
I'm not sure when the official opening date of the AZ location is, but I know they are training employees already so it's probably only a matter of weeks if it hasn't happened already.
FAAC I believe is a sub of AroTech, as is MILO who was the other awardee on the $40mm contract. I think Arotech ticket is ARTX.
It's an interesting situation. That was the worst top-line we've seen in the past several years (see Swick's chart). TTM EPS is now $0.14 which is also, I believe, the worst it's been in years.
Today's the day.
[Please note that the filing of this notification grants issuers 5 additional calendar days to post a Quarterly or
Interim Report and 15 calendar days to post an Annual Report.]
20 May 2016
"Faneuil’s contract backlog, which represents multi-year contract deliverables, was $261.8 million and $48.1 million as of March 31, 2016 and 2015, respectively."
-from the Q2 report
Nice buy and thanks for the report.
I don't think it really matters what happens in the short-term here because the long-term is set up so well. Even if the stock rallied 50% in the coming days, I would still want to stick around to see how much of the State contract we get.
If they were just to uplist to the OTCBB, do they even need to do a R/S?
It's hard to see why they put that "market liquidity" comment in the PR if not as an allusion to uplisting.
What else could it refer to?
It was a true monster quarter. TTM P/E is less than 8 now. We've got the $40mm contract to unfold over the coming year+, possible Modern Round positive developments including maybe starting to trade publicly and thus give us a market value on our 5% stake.
Everything is good and the benefit of the non-rally is that it's a no brainer hold now :)
They earned 50% more in the quarter than they did all of last year, which was a good year.
Traders may get caught up and frustrated but I think the future is all positive.
This stock was basically trading for this price from January to March of 2015. Flawless execution (if not communication) continues to unfold. The stock price would definitely benefit from an uplisting if focus was not sacrificed in the process. I feel good and my shares are worth 17% more than they were 9 hours ago.
Q1 - Very nice bottom line for a $0.15 stock. I've got it at $0.025 per share but it's rounded up to $0.03 on the income statement.
Looks like about half of that is "income from unconsolidated entities." That seems to be where a lot of their bottom line strength has been coming from.
I did notice it looks like maintenance expenses will be higher going forward (including in Q1).
No position
Yeah good. That's what I thought.
So you would expect by Friday May 13, then. Correct?
As a Pink, I'm not sure there is any obligation. But most are to report by May 15, which is a Sunday, so I would guess next Friday May 13.
Oh great that means my odds of winning dropped from a promising 2.63% way down to a measly 2.08% :)
I think it's pretty common to add, remove, add, remove these listings when they are not selling. The date of removal was exactly 3 months to the day since the listing was added, which could indicate a pre-planned "We will leave it up for 3 months and then take it down for awhile."
Remember those Nevada ranchers who were armed to the teeth?
You should sell your shares.
Bill, since you said no one will ever hear of VTSI and it sounds like your thesis depends on people hearing about VTSI, I'm a little confused understanding why you continue to hold the stock, or why you bought it in the first place.
I gotta disagree even though I own VTSI for the long-term.
I think we are set up for a potentially huge short-term gain right now, with the company winning a contract that may be worth 2X annual revenue and the stock hardly reacting yet.
A short-term opportunity like this is really rare IMHO.
It seems like the likeliest scenario is they were spending for growth in Q4. Trader mentalities were selling and those tuned into the value, who have been more closely following, were buying. We'll see who was right. I know where my bet is (long).
Annual report out:
https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=149541
Looks like $4.8mm Q4 sales with $0.029 EPS.
Also of note: report disclosed that board has decided to sell the Indonesian facilities and wrote them down by $360,000 to $4.0mm realizable value.
Write down took $0.02 off Q4 EPS.
Hey, I haven't been following this one at all.
Not sure what the hold up is. I believe they were a couple weeks earlier the past couple years.
Any news yet?
With the settlement at 10:30am, does anyone want to guess what time we will receive word on this board of what happened?
Maybe it will be kept confidential until a PR is released?
No position, but watching in interest.