VirTra Inc (VTSI)

[KauaiPI]

Greg~I guess it is all semantics but you know, I think I have been vindicated lol

...not in the camera business as I surmised... building it from the ground up? hmmmmm

"Virtra designed and developed the circuitry, the framework, the syncronization, and arranged it all in such a way so that the integration worked etc., and then outsourced the camera to a camera manufacturer with those specific specs for utilization into the unique and patented Virtra System.

Again, what I am left with is more integration (which VTSI seems good at!)... maybe not exactly right off the shelf but certainly not something others could not also do for their systems

I also am glad the report came from you:)

Me too lol ... but in so far as; Can anyone make use of it?

Can someone else use this camera in their system and now be as unique as Virtra? If they had the software, the circuitry, the framework, and syncronization know-how, could they match us?...Yep.

The fact remains that anyone apparently can outsource based on their own product specs so is this really SO unique to us?

Then, I wonder, would a company accept outsourcing for only a commitment of one unit? So how many did VTSI commit to? And did we pay them in shares? Certainly don't suspect the camera outsourcer worked for free so if not shares, then how much money is left for VTSI to use for corporate purposes?

Ah, the questions continue... most interesting, Bob!

and as the board now sees, why I am most pleased that Bob will be presenting to and responding back from the powers that be. He has a knack for putting it down as he sees it in a way that helps us to understand the missing pieces (imo)

Knowing that they are NOT paying royalties or a piece of the gross *I think* is good news, although, it might have been a cheaper way to go if the outsourcer would have bitten on such a business plan. That might have kept more money in the bank (ok, maybe I am stretching a little here lol ...I mean WHAT money do they have IN the bank?) ...and such an arrangement most likely would have kept more shares in the corp. treasury and out of the float.

Thanks to rouster, we have a better understanding although as is normally the case, not the whole, I fear (pardon the pun) picture.

I talked with Haag today about the camera:

Virtra did not go into the camera business. The folks that they had develop the camera for them, do NOT get a piece of the pie nor royalties. They merely get whatever they charged for their camera and subsequent cameras that Virtra "may" buy from them.

Real simple....

Virtra designed and developed the circuitry, the framework, the syncronization, and arranged it all in such a way so that the integration worked etc., and then outsourced the camera to a camera manufacturer with those specific specs for utilization into the unique and patented Virtra System.

Bob, exactly WHAT is patented in this unique system? Beyond a circuit board patent that was issued (for the kiosk systems?) Greg, correct me if I am wrong but where are all these "patents" in this patented system?

This camera can be purchased by anyone, but the key is that for "this" particular application, it will only work with the Virtra System.

Correct me if I am wrong, but doesn't this also mean that anyone can do similar for THEIR system?

Can someone else use this camera in their system and now be as unique as Virtra? If they had the software, the circuitry, the framework, and syncronization know-how, could they match us?...Yep.

But they (the competition) doesn't have it.

All of that belongs to Virtra. That's the whole point of why we bought in here in the first place, right? The patented Virtra System with the 360 degree immersive video experience...on and on (fill in the blanks with the rest of the nomenclature and exclusivity of this system).

It's really no different than Ford Motor Company going to Motorola (for example) and telling them "we need a radio that will fill this particular space with sound and perform these particular functions. We have developed a special car and need a special radio to help complete the experience."

Does Ford need to be a manufacturer of radios to have a special radio in their cars? Nope. Does Ford have to pay Motorola a royalty or a piece of the pie every time they sell a car or truck with that specially-made radio in it? Nope.

...and knowing that there are many car manufactures out there with equal or better radios (keeping with the example) ... then doesn't that put this whole situation in a light quite different from the clever PR that people "bought"?

They merely buy the specifically designed components from Motorola and install them in their special vehicle. Motorola sets a price on the components and Ford pays them. The acoustical environments in the vehicles are designed by Ford. Motorola merely designs a special radio to those specs. Same, same here.

Haag stated that Virtra has a 14 month headstart on the competion.

I believe IF Virtra can bring some meaningful product to market within the next couple of quarters, this company will kick some major booty and we will see SUBSTANTIAL (over .75) price per share increases. I also personally feel however, that the 14 month headstart could dry up this year if they don't deliver something within those next two (three at the latest) quarters. Rouster

Exactly ... and in keeping with the auto analogy, maybe the government doesn't need a caddy when a VW will do!

We need someone domestically to bite and bite fast IMO...

YoAfter9 posted a (IMO) right on post to RB

(http://ragingbull.lycos.com/mboard/boards.cgi?board=VTSI&read=12351)

...sales will not be coming (IMO) the day of or the day after the expo... they will still take time to materialize and the question remains, does VTSI have that time? IE money to tide them over until someone bites? Don't we still have pending litigation that will potentially force them to pay back John's demand for the money loaned the company?

I wonder where all that money is to come from and how much time remains?

P.S. Steve Haag is a pleasure to talk with. Down-to-earth, regular folks. But definitely knows his stuff as well. I'm very much looking forward to meeting the rest of the crew down there.

Careful, rouster, I remember similar comments when it came to "Trevor" "Tom" et al

Regular folks don't always finish first even with the best of intentions. We still IMhO need to exercise caution and hope with fingers crossed!

Ok, back to lurking and I'll leave the board to continue to *speculate*

best!
kp