I am a fairly long time shareholder, and a fairly large shareholder, and althouth I post extremely rarely, I feel the need to post in response to some of what i am reading on this board.
Let me begin by saying I was 100 percent opposed to this entire proxy when I first became aware of it. Like many here I have had mostly bad experiences with r/s, althouth I have had at least one instance where it turned out to be extremely profitable, but more than that it was the way I was totally blind-sided by it, especially in light of all the seemingly positive steps the co. has taken. I spent the better part of 2 days cursing under my breath at what i considered to be perhaps the biggest boneheaded move I had ever seen by a management team.
And to add fuel to the fire, the stock price tanked, as I was sure it would. And lo and behold, here comes a hasty CC, which I was sure would be total bs.
With that being said, after listening to the CC, i am going to vote yes on the r/s. I personally think mgmt. did an extremely effective job in explaining their reasons for said r/s, and think the company will benefit accordingly. As for the Nasdaq listing, try to keep in mind that this is a process, one step at a time. The first step is getting the price above the minimum, once that is achieved, the next step is audited financials, once that is achieved, perhaps adding some independent directors, etc. They made it clear that is the goal, and while a week ago I thought Nasdaq was yrs. away, now I think it may happen within the next yr. It can not be overstated how positive this would be. Now in a perfect world mgmt. would have all these ducks in a row, and make one big step, instead of many small ones. But this isn't a perfect world, and if the first step is a r/s to increase sales to get to the next step, I am all for it. As for the other proposals, I am still undecided.
Btw, am I the only person that heard Bob say on the CC, that if the r/s happens, Virtra has the means and intent to support the stock price, ie buy shares on the open market. It was late and I was sleepy, but I could have sworn I heard him mention that more than once. Think about that for a minute. The company is willing to absorb some of the risk to protect shareholders. Once again, maybe i misheard him.
To all the armchair CEO's out there bashing mgmt. Really? I have invested/traded 100's of co.'s, and if I thought mgmt. was out to screw shareholders, you know what I would do, I would devise an exit strategy. Is there any other alternative?? Please explain to me what other alternative there is to selling a stock that you think mgmt. is trying to make worthless. At least Weo put his $$ where his mouth is. Now has this mgmt. made mistakes, of course they have. The way this proxy was handled was amatuerish at best. We have an engineer running this co. Is he going to make mistakes? Of course, we all do. This co. was left for dead 2 yrs. ago, and is now growing, and Bob is learning on the fly. Cut him some slack. This is not a fortune 500 co. It is a tiny co. with a ton of potential and is going to have some growing pains. Will it work out, who knows.
Here are just a few examples as to why I think mgmt. is on the up and up.
-Authorized share increase. We were all skeptical when Dalby proposed this, fearing massive dilution. The co. said they wouldn't use shares as a blank check, and although there has been dilution, imo the co. was true to their word in keeping it as minimal as possible.
-During one of the previous CC, a caller asked about the pipeline and Bob said it was strong and he anticipated y/y revenue growth. This was followed by a dismal 1st qtr. I thought to myself, typical bs, said what we wanted to hear. I was wrong.
Record yrly. revenue.
-In the most recent CC, a caller asked about Lockheed. Bob could have spent 10 min. hyping this relationship ( trust me, it happens on CC's) but instead he said there is no big contract in the works, and there is no indication of one coming. Straight and to the pt.
As for the stock price, JMO, but I think the damage has been done from the proposed r/s. We will probably trade sideways from here, but I think odds are we move higher as opposed to lower. JMO.
What it all comes down to is either you think mgmt. is doing what is right by the co. and shareholders, or you don't. Vote accordingly. GLTA
News 
Market Data 
Discover 
AI
