Replies to post #22948 on VirTra Inc (VTSI)

[SirFelix]

That must be a misprint. I checked 2 different sources and both state 3000 shares traded on 8/18. Thats open market, maybe your source has access to private placement or insider buy/sell volume.

[imawswami]

Teeroy, answer & reprint Law Officer Magazine

T, saw the trade on Tues as a single transaction on Etrade. Both E & Quotemedia currently recognize it as existing. Personally, it was the reason am back in for the third time (on Weds.). Thought it was too close to quarterly numbers and STOC II in Sept. to be ignored, so bit on it.


Also want to repost your find where Virtra was the JUNE cover article for Law Officer Magazine at post # 22895. The link is dead and the piece is too good to let it lie. So here it is again. Thanks for sharing that.

http://www.lawofficer.com/news-and-articles/articles/lom/0406/virtual_training_for_real_survival.html;jsessionid=E60337C49ECCBFDF32CECC7665C1FC8E

Virtual Training for Real Survival
A trip through a Small-Arms Training Simulator
JP Molnar
Law Officer Volume 4 Issue 6
2008 Jun 1
During the first 10 minutes of my first day as a police officer, I almost had to shoot someone. It was around 0600 hrs, and my field training officer and I had just left the station. I was driving, and we noticed a dilapidated old van traveling right in front of us. Of course, just being out of the academy, my mind was racing with all the possibilities of what might be within the van’s metal walls, and I would soon find out.

As we came to a stop at a red light behind the van, the driver’s door opened. The driver got out and began briskly walking towards us with a big machete in his right hand. After seeing the weapon, I pressed hard on the brakes and jammed the transmission lever into park. My door flew open, and I drew down on the subject, ordering him to drop the machete. For a few seconds, he kept walking and then stopped, with a shocked look on his face. I ordered him to drop the machete again, and he did.

We soon learned the driver found the machete in the road, and he just wanted to turn it in to us. Little did he realize his attempt at a good deed could have gotten him seriously hurt or killed. The incident ended well, but I remember thinking a lot of things during those seconds when I was pointing my Sig downrange. Two thoughts were the loudest: “What have I got myself into?” and “They sure didn’t teach this at the academy.”

And of course an academy can’t teach everything that can happen in the field. The overriding fact of law enforcement is nothing’s static. Every situation is fluid and can flip from one direction to another in a split second. As officers, we know that a car we stop for expired tags can contain either an absentminded family man or a wanted felon. In fact, a former fellow officer of mine stopped a vehicle for that reason and ended up capturing a felon who had kidnapped a child in California and had the child with him as he drove towards Las Vegas.

So, how do we train police recruits for situations in which the use-of-force continuum can skip from simple presence to deadly force in a matter of seconds?

Simulators
One answer is to incorporate simulation technology into academy and in-service training. As an EVOC instructor and a veteran of numerous firearms courses, I know simulators are only valuable if the package delivers on realism. A simulator must duplicate the real world well so the officer feels his input is real, and the consequences of poor decisions are accurate, including in firearms simulations. A simulated environment has to be believable for students to elevate their critical-thinking, decision-making and shooting skills to a level consistent with real-world performance. The simulation has to make you feel as though you’re “right there.”

The problem: In the past, many firearms simulators didn’t make the officer feel “right there.” The field of vision was limited, the video was poor and the system operator had little influence over the situation to account for officer responses. In other words, if the officer had the potential to talk down an agitated subject, the simulation didn’t have the ability. There were shoot/don’t-shoot scenarios, but having a 60-degree worldview didn’t make an officer feel they were immersed in the situation.

Enter VirTra
With VirTra Systems IVR-300 and 360 Small Arms Training Simulations, all that has changed. Let’s face it: Technology developed for the entertainment and private industry advances at quantum leaps because the audience, sales figures and marketing campaigns demand it. Consumers expect the best, and clients are more than happy to spend what it takes to make it happen. VirTra Systems got its start by producing simulators for FORTUNE 100 clients and the entertainment industry.

Founded by Bob Ferris in 1993 under a different name, VirTra produced simulators ahead of its time, and its engineers have perfected the art of unparalleled realism in simulation design. Since then, VirTra has sold off its other divisions and now focuses only on law enforcement, military and private security markets. To learn more about the company, I visited with Ferris and his team of computer designers at the company’s operation center in Tempe, Ariz.

Walking into VirTra Systems’ training area makes you feel like you’ve walked onto the set of a sci-fi movie. It’s very dark, black curtains line the room and the company’s IVR-300 HD, a large platform surrounded by movie screens, sits squarely in the middle of the room. Projectors and laser tracking devices ring the platform, and an audio system hums in the background. One thing is clear: This is not a glorified video game.

The “300” in IVR-300 HD refers to the degree of vision offered by the simulator, and HD refers to high-definition video. The company also offers a 360-degree version, which makes both systems the most advanced, full-immersion firearms simulators in the world, as well as the most realistic I’ve ever seen.

I got to experience the IVR-300, which is the same model being used by the U.S. military, the U.S. Marshals Service, law enforcement academies, many regional law enforcement training centers, government services and private security entities. The company does offer single-screen units that can be expanded, but the IVR-300 HD is the company’s most popular model.

In the IVR-300
Ferris’ enthusiasm for the IVR-300 doesn’t go unnoticed, and he immediately handed me a Glock 22 and placed me in the center of the IVR-300. The Glock is the real deal, but the barrel internals have been replaced with a highly accurate laser. The company offers an array of laser-guided weapons to use with the system, including less-lethal options, such as OC canisters and Tasers.

According to Ferris, each screen has a tracking system that, at the press of a button, scans its area of responsibility and builds a tracking grid. This function allows the simulator to accurately find each and every shot, and extrapolate the data to the system server for interpretation. The feature allows tremendous flexibility in how the scenario screens are set up. Example: Although the six-screen IVR-300 HD was set up in a circular pattern to create an all-around view during my scenarios, the independent tracking system allows the screens to be set up side-by-side, creating a virtual shooting range anywhere there’s space for it. This flexibility allows the user to set up multiple configurations based on training needs without additional cost. As some of Ferris’ clients point out, a virtual shooting range is accessible 24 hours a day, there are no lead-exposure problems, officer transportation to a remote site isn’t required and ammo cost isn’t an issue.

Of course, a virtual shooting environment is only good if the guns shoot realistically. VirTra has created several weapon systems that replicate recoil through the integration of a pressurized load with every pull of the trigger. As for accuracy, my familiarization shots with the Glock were accurate and true to the front sight.

The most unique aspect of Virtra Systems IVR series is that it allows the student to address the threat in all directions, which is almost impossible to do in traditional firearms training. As officers, we know threats don’t always come from the front and distractions often emerge from any direction. In other simulators, and the firing range for that matter, all of the threats usually come from the front. In IVR-300 HD, you can turn in any direction to address a threat.

As Ferris puts it, “Our system lets you do things that would get you thrown out of the normal firing range.”

The Scenarios
The threats are actually highly scripted scenarios shot in high-definition using places, people and themes that are based on real experiences. This quality is accomplished through the use of a highly sophisticated six-camera apparatus that can film all directions at once. There are minimum distance requirements, so some scenarios use one or two screens to start the simulation and later expand onto more screens. Example: Filming down a narrow hallway doesn’t permit filming the sidewalls, but when the officer reaches a room, the simulation expands and uses all of the screens.

Ferris says VirTra works with clients to develop scenarios based on their needs, and the customization is included in the purchase. He says VirTra is nearing 100 scenarios “in the can,” and can design almost any simulation.

According to Ferris, the problem with systems that allow someone to use their cousin’s camcorder to film a scenario is that the video ends up looking like just that. Another problem: With only one camera, an amateur filmmaker can’t accurately replicate reality or situational awareness and doesn’t have the tools to create multiple-scenario outcomes that are possible with virtual reality.

VirTra has a staff of computer wizards who can insert almost anything a client wants into a scenario, including weather, noise and flashlight beams to simulate low-light conditions. The company’s rifle scenarios can adjust accuracy for distance, wind, humidity, bullet profile, elevation and other factors. Add real actors, real locations and HD video, and the case for a professionally produced and edited simulation makes sense. Why spend a lot of money on a simulation device only to play videos that look like someone’s vacation or birthday party?

Standing in the middle of the IVR-300 HD’s platform, there’s no doubt you’re in for one heck of a simulation. Your pulse will pound just standing there. When the scenario begins, you’re “there.”

Ferris enthusiastically put me through five scenarios. One was a graduated decision-making scenario with a crazy professor in a university as an active shooter. The second was a gang situation in which attackers come from all directions. The third was a biker bar gone bad. The fourth and fifth scenarios were both very common situations for field officers: a nuisance call at a residence and a suspicious-person call. In each case, the video quality was excellent, and the accompanying digital surround system made me feel as though I was actually there. The world outside of the platform disappeared. My heart pounded, my senses were on high alert and I was perspiring—the same things officers experience in the field.

Because VirTra films the scenarios, it can film as many outcomes as it wants. This means the instructor can alter the scenario at any time to reflect the desired outcome. What I found most amazing is that, for the first time, a student can be given an area of responsibility in the scenario, following the lines of the contact-and-cover principle. In such a scenario, distractions can be introduced to test the attention and focus of the cover officer while the other officers in the scenario address different issues. This feature is previously unheard of in the simulation market, and almost impossible on the firing range.

Consequences
So what happens if you’re shot? One criticism of simulation technology is that there’s very little feedback on, or consequences for, poor decisions or no-win situations. Some simulation companies have devised projectiles that are propelled at students. Having used these types of simulators, I believe the situation really becomes a game of “don’t get beaned by the ball.”

Ferris and his team felt the same way, so they invented the Threat-Fire Belt. Threat-Fire uses a rechargeable battery pack and delivers a short electric charge each time the simulation or instructor wants the student to feel like they’ve been shot. The charge is approximately 30 milliseconds long and delivers approximately 100,000 volts. The desired amount of delivered charge is also adjustable.

During one scenario, I was shot at by a suspect with a shotgun and definitely felt the Threat-Fire delivering its bursts. But as would be expected in a high-stress event, my adrenaline and focus dismissed it until the scenario was over. Ferris says the belt is the most accurate way to ensure the student feels the threat.

The Cost
Pricing for the IVR-300 simulator starts at $99,950. According to Ferris, customers have actually told him the price is too low, even though the IVR-300 HD is competitively priced against other single- or tri-screen systems, none of which have the full-immersion capability. VirTra’s goal is to provide the highest-quality simulator at the lowest possible cost with exceptional customer service. He also adds that the ability for one system to deliver accurate training in marksmanship, combat, shoot-house, security and patrol strategies can save clients millions in infrastructure costs if they were to do it the conventional way. Ferris adds that there’s value to real-world training, but it’s costly, difficult to replicate and the opportunity for in-depth, post-training analysis is limited.

Bottom line: As a former officer and current instructional designer and instructor, what matters most is if the system delivers what it promises. My time with Ferris and the VirTra IVR-300 HD Small Arms Training Simulator provided the best firearms simulation experience I’ve ever had. I can see the system providing real value and saving lives and preventing injury to officers and the people they encounter in real-world situations.

[E pluribus unum]

I didn't see it as I don't watch very much. If true, it probably has to do with the Dutchess settlement. All of the options that have been awarded are out of the money.

According to the Un-Q, the Dutchess judgment against VTSI is $1.1 million and 1,650,000 shares of stock. That's more cash than VTSI even owes the IRS!!! My guess is that VirTra will have to pay it off in stock.

I don't see how else VTSI can pay the judgment. If they get 50% in advance from the customers, most of the receivables net of deposits will be to make payrolls and settle with vendors.

Whether this trade you mentioned has anything to do with it or not, my guess is that Dutchess is going to get as much or more stock out of this settlement than they have ever received so far; not quite as portrayed by the previous CEO.