Replies to post #30012 on VirTra Inc (VTSI)

[LeGoose]

Here's a thought to ponder:

There are currently 2mm preferred shares authorized, and none outstanding as of 12/31/2010.

Can Ferris simply just issue a few preferred shares to himself with super-voting rights and call it a day?

My first assumption is "No", or there would have been no need to have gone through this whole proxy ordeal. Something must be blocking him from doing so. Maybe this might give us a hint on some of the other proxy items which reduce or eliminate certain voting rights...?

Here's the articles of incorporation which were filed by VTSI in 2008. It seems to be a carry over from the previous company.

http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=18467

5Cap - was that you who was granted access to the T/A? If you wouldn't mind, can you ask them what the current preferred O/S is?

[stockguy1000]

Lets agree to agree. I will say the over under on a full audit being announced is 3 months.

The one benefit of not having an audit so far has been cheap shares relative to future earnings. Now that I am in, I would appreciate a full audit. (Which shouldnt been too difficult or time intensive based on the size of the firm).

Oh, and the likely reason they did not announce any definitve plans for audits or NASDAQ on the conference call is that their attorneys have severly limited what they should say on the CC. Like I said earlier Class Actions for shareholders are becoming a more lucrative field in a shrinking legal market. I can guess you that some law firm's agent owns at least one share of vtsi, to act as a class reprentative in any future lawsuits.

Anyone have any thoughts on subscription fees?