VirTra Inc (VTSI)

[TEEROY]

E,

From the 10k will you be so kind to help me resolve this riddle. reporting uncomplete project revenue on a balance sheet is not a strong suite of mine. Concerning these uncomplete projects/contracts is cost/revenue reflected in q3. I was lead to believe that if a project was incomplete revenues would not be reflected in that quarter.

Note 9. Cost and Estimated Earnings in Excess of Billings on Uncompleted Contracts

The following information represents our current projects at and for the nine month period ended September 30, 2007:

"We had several projects near the completion stage, our percentage of completion is based on total costs incurred to date compared to the estimated total cost of each contract. We have incurred total costs of $463,276 on contracts totaling $1,469,515 of total revenue. We estimate that we will incur approximately $75,000 of additional costs and do not expect to incur any losses on our uncompleted contracts. Our Cost in excess of billings was $61,549."

Thanks
Teeroy