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Friday, December 12, 2003 8:37:43 PM
Don't they have money if they are retiring the Debenture?
I don't see them retiring it with MONEY but rather thru conversion (for more dilution). The good side is that the current share price may keep the dilution down. I need to go back and check on the terms of the conversion but if I recall correctly, the current share price is a benefit to that conversion or to put it another way, good for VTSI. BUT not buying the CD back with funds is my understanding.
Also, aren't they getting in money on the projects underway?
Dang, I sure HOPE so LOL ... but due to their PRs being so poorly written when it comes to the bottom line ($), the amounts they are getting are not known. This is my pet peeve. I think even if they were to maintain their normal margins, the few newly announced deals are, well, less than is needed to say the least. I assume you have picked apart their recent filing? I'll post a few things from it a little later in the day.
Wouldn't banks be willing to lend them money if they are getting government work in?
Actually this is the best case scenario IMO but also the one that worries me...
Most banks will loan the funds, or at least that is my understanding, based on the strength and ability to pay. That is both for the receiving company (VTSI) and the party who the contract is with (government). Should they ever actually secure the holy grail (HS) then the banks would look at the company itself and determine what restrictions to apply and the amounts they will authorize (normally a portion of the contract amount) to get the ball rolling and then perhaps even setting up a factoring situation where the receivable is sold at a fraction of the gross amount.
It gets complicated but VTSI's long term debt and ability to service the *loan* will be an issue for Kelly folks to address.
That they have mentioned they are restructuring bank debt and working on contingency plans makes me think this is not a slam dunk at this stage. Hence my worry in the form of a red flag.
I hope that simplistic overview makes some sense.
best!
kp
Recent VTSI News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/23/2024 01:54:23 AM
- VirTra to Participate in the 2024 Gateway Conference on September 4-5 • GlobeNewswire Inc. • 08/22/2024 12:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/12/2024 08:28:58 PM
- VirTra Reports Second Quarter and First Half 2024 Financial Results • GlobeNewswire Inc. • 08/12/2024 08:26:42 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/12/2024 08:26:20 PM
- VirTra Appoints Brandon Cox as Chief Technology Officer to Accelerate Innovation and New Product Development • GlobeNewswire Inc. • 08/06/2024 08:05:00 PM
- VirTra Sets Second Quarter 2024 Conference Call for Monday, August 12, 2024 at 4:30 p.m. ET • GlobeNewswire Inc. • 07/29/2024 08:05:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/09/2024 08:05:36 PM
- VirTra Appoints CEO John Givens as Chairman • GlobeNewswire Inc. • 07/09/2024 08:05:00 PM
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- VirTra Set to Join Russell 3000® Index • GlobeNewswire Inc. • 06/04/2024 12:00:00 PM
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