The history of VTSI is basically as follows.
I've been invested for like 16, 17 years!
Kelly Jones, a lawyer/ beer salesman I believe, started a company that would put high end computers, functioning as video game arcade systems, in bars basically. They could be wired to the internet to allow online gaming. Idiots, included myself, invested in the stock at much higher levels than today.
The company basically went nowhere.
In 2000 or so, they merged with Bob Ferris's headset virtual reality entertainment company, and changed the symbol to VTSI. I believe Bob's company had some debt and VTSI had no money so they signed a stock for cash deal with Dutchess that diluted the stock tremendously, sending the price lower and lower.
9/11 happened and the company switched focus from entertainment to the company we have today. Big contracts were promised by Kelly Jones and that helped eat up some of the dilution but they never came and the PPS sank lower and lower. I believe they got an offer from Smith & Wesson to sell the company, rumors have it Bob wanted to sell, Kelly didn't. Kelly left over this but the deal never happened. They stopped filing with the SEC to save money, they were dark for a while, no press releases etc and the PPS tanked to .005.
But then real orders slowly started to trickle in and the PPS slowly recovered. I think I bought a bunch of shares at .015. Technically I sold them a few months ago.
Lockheed Martin was involved with them and everyone was excited but nothing significant happened with LM.
They announced an awful 1 for 100 R/S when we were at 12 cents or so and gaining momentum, killing the PPS for a while.
Then they signed a 6M contract with Homeland security last year, sales continue to improve and of course now this blowout corner and an up to $40M contract. So clearly things have never looked better. Not even close. We had a lot of hype before but very little sales to show for it. With all the questionable police shootings and terrorism around the world, VTSI is poised to continue to grow IMO. It's been a really long road but it's finally paying off. Unfortunately I only have about 1/2 the shares I used to but I'll try to be happy with that.
