VTSI:
Follow on contracts announced. Max combined potential value $12.2 million over next 5 years.
"VirTra Receives $12.2 Million in Follow-On IDIQ Awards from U.S. Customs and Border Protection
8:30 AM ET, 09/26/2016 - GlobeNewswire
TEMPE, Ariz., Sept. 26, 2016 (GLOBE NEWSWIRE) -- <WSODTagging BridgeSymbol="US;VTSI" WSODIssue="283064">VirTra Systems</WSODTagging>, Inc. (OTC Pink:VTSI), a leading provider of use of force simulators and firearms training simulators, today announced that it has received two indefinite delivery/indefinite quantity (IDIQ) contracts from U.S. Customs and Border Protection, an agency within the U.S. Department of Homeland Security. Under the first $3.2 million IDIQ award VirTra will be the sole provider of ongoing service and maintenance on law enforcement training simulators installed by the company under a previous contract, and under the second $9 million IDIQ award VirTra will fulfill the purchase of additional V-300™ systems and accessories, for a maximum combined value of $12.2 million over the next five years.
"Under its previously announced contract with the U.S. Department of Homeland Security, VirTra delivered and installed its V-300 multiple screen systems at 28 separate U.S. Customs and Border Protection field locations, all of which are currently in operation. The new award, if exercised, will extend service and maintenance of those systems and accommodates additional systems to be installed at existing and future field locations over the next five years.
"VirTra General Manager Jason Mulcahy commented, 'These sizeable follow-on single source awards demonstrate the value provided to the customer through VirTra’s unique firearms training and decision-making simulation products. We are proud to serve the U.S. Customs and Border Protection and other agencies within the Department of Homeland Security and look forward to continuing to exceed customer expectations as we expand this program.'"
