David/All
So much for this quote from the CEO letter: "I want to reiterate my firm belief that VirTra Systems has successfully designed and manufactured THE best and most cost-effective products to conduct firearms training currently available. We have expanded our technological lead and technical progress since the IVR 4G's unveiling only seven months ago."
Translation from the statement below: $$$ to be used for working capital and to bring their product line up to the standards needed by the marketplace to attempt to become competitive IMHO
"the additional $500,000 debenture will be utilized for both production costs and general operating expenses. Among other things, we are utilizing the funds to bring on additional staffing to perfect items we know the military wants: our tetherless recoil weapons, our hybrid-CGI self-authoring software, our Razor-tracking weapon system, which will ensure that we have the most accurate weapons tracking system available, again something we know that the military wants, and to garner an array of training weapons for almost immediate delivery. The funds will also be built to produce a couple of smaller systems which are approaching being ready for immediate delivery. (Additional: A portion of the funds will go to) produce specifically-requested training scenarios."
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