Just read your post, thank you for the information.
One point:
" This was the first time I met Ferris in person. His presentation was competent, though not the most dynamic. He certainly wouldn't make any one forget Steve Jobs. Ferris doesn't seem to have that type of inspiring personality. At some point probably sooner than later, if Ferris wishes to maximize the value potential of the company (and his own shares), he'll realize his limitations, and find some one who is more inspirational with his leadership style. Some in attendence seemed to think that Ferris would never let go of his baby which he tends to micro manage too much. "
Someone "who is more inspirational with his leadership style" won't run the company better than the founder. Only looking for inspiration leadership style would be a bit superficial, but even if looking for all the "right" qualifications, hiring someone better than the founder of a technical company almost never happens. Profitable established companies get by on momentum for some time, before being run into the ground (Apple for example, HP, Fluke, FORD ..etc). Smaller less well known companies often don't survive. One not so good choice in leadership would be the end of this tiny company. If Virtra ever gets a new CEO, it would be time to let go of this baby.