VirTra Inc (VTSI)

[Twister]

Best reasoned excuse; burning through 3 accounting firms!

Question being what items were/are being massaged and what future issues may now ensue.
And will the filings provide legitimate solutions for long-standing problems or simply offer further neglect as the remedy.

From 2020 10K: ------------------------------------------------------------------------

If we are unable to implement and maintain effective internal control over financial reporting in the future, investors may lose confidence in the accuracy and completeness of our financial reports and the market price of our Common Stock may decline.

As a public company, we are required to maintain internal control over financial reporting and to report any material weaknesses in such internal control. Further, we are required to report any changes in internal controls on a quarterly basis. In addition, we are required to furnish a report by management on the effectiveness of internal control over financial reporting pursuant to Section 404 of the Sarbanes-Oxley Act of 2002, as amended (the “Sarbanes-Oxley Act”).

We will design, implement, and test the internal controls over financial reporting required to comply with these obligations. If we identify material weaknesses in our internal control over financial reporting, if we are unable to comply with the requirements of Section 404 in a timely manner or assert that our internal control over financial reporting is ineffective, investors may lose confidence in the accuracy and completeness of our financial reports and the market price of the Common Stock could be negatively affected. We also could become subject to investigations by the stock exchange on which the securities are listed, the SEC, or other regulatory authorities, which could require additional financial and management resources.

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Management’s annual report on internal control over financial reporting

Our management, including our principal executive officer and principal financial officer, is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act). Our management, with the participation of our principal executive officer and principal financial officer, evaluated the effectiveness of our internal control over financial reporting as of December 31, 2019. Our management’s evaluation of our internal control over financial reporting was based on the 2013 framework in Internal Control-Integrated Framework, issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on this evaluation, our management concluded that as of December 31, 2019, our internal control over financial reporting was not effective.

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From 10-Q 9-30-21

Based on this evaluation, our
principal executive officer and principal financial officer concluded that as of September 30, 2021, our disclosure controls and procedures were not
effective. The ineffectiveness of our disclosure controls and procedures was due to material weaknesses, which we identified in our report on internal
control over financial reporting contained in our Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 29,
2021.

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8-K 11-22-21

https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&ref=116282519&type=HTML&symbol=VTSI&companyName=VirTra+Inc.&formType=8-K&formDescription=Current+report+pursuant+to+Section+13+or+15%28d%29&dateFiled=2021-11-24&CK=1085243

Important enough to make comment on by prior accountants:

"During MaloneBailey’s engagement, the Company disclosed the ineffectiveness of its internal control over financial reporting due to the following material weaknesses which it identified in its internal control over financial reporting: (i) the lack of multiple levels of management review on complex business, accounting and financial reporting issues, and (ii) the failure to implement adequate system and manual controls."