VirTra Inc (VTSI)

[pmaher]

Virtra meets many of the financial requirements, but the last row in each of the charts says 'Corportate Governance' - Yes.

I've posted the quotes regarding Independent Directors and Audit Committee from the Corporate Governance section.
I'm simply reading the Nasdaq Listing Requirements doc that's available online. Perhaps I'm misunderstanding what it says. But as I read it, Virtra has a big obstacle to overcome in that department.


Also, for what it's worth, I don't see this vote as a referendum on Bob and Don. I think it's possible to vote no to all measures - expressing a difference of opinion with the board on what the right moves are to improve the prospects of the stock, while still retaining confidence in their ability to run the business i.e. glad to hear that Don is unbelievably positive on the prospects for doubling top-line growth in 2011 - I don't doubt him.

But to reinforce what I've stated previously, I see a lot of room for improvement with how they're handling the Investment side of things. I believe them when they say that a higher stock price would help in achieving more sales, but I don't believe they're managing the risk well enough on the other factors that go along with the R/S. If they'd shown themselves very adept at that, then I'd feel more inclined to vote yes on the R/S.
It feels more conservative to me to vote no on the R/S and allow them to continue to execute on growing the business as they have been. I don't expect the stock to trade to $1.00 this year, but neither do I expect it to go to $0.04. And I do expect a market-beating return.
If I see a better job on the IR front, then I'll be ready to back them on more aggressive actions like this.

So I'm inclined to vote NO to the R/S, but still not decided yet. The only thing I am sure of is NO to allowing less than three directors. There's no doubt in my mind that that amendment is the absolute wrong direction.

Also, I'm with SirFelix. Another call is needed to give time for all shareholder questions.

Regards
-Pat