VirTra Inc (VTSI)

[fishhunter]

For me, VTSI is a difficult stock to value. I will ignore all the normal stuff that is most important to me…PS, PB, EV/ebitda, debt….and ponder why it’s difficult.
1. The stock should get bonus points for the squeaky clean simple capital structure. No hidden classes of shares. No preferreds. No convertible debt.
2. It is also in a sweet spot with respect to insider ownership, not too much, but enough to matter….but not control.
3. It also has a great story, a great mission, one can be proud to have VTSI tatood on one’s body.
4. But erratic revenue and even more erratic eps cause all of us and all others much angst.
5. And then there is the performance relative to the potential. Other than Bill, is there anyone that does not think VirTra could (easily) have dependable revenue of $200mil a year just from USA municipal police depts? A lousy one thousand V300 systems would be more than $200mil. And there are well over 12,000 departments that could afford to have 1 to 10 systems each.
6. Then there is the Military hope/carrot. Is this a $50mil per year opportunity or a $250mil per year opportunity?

Enough!….this list could go on and on.