VIRTRA SYSTEMS, INC.
NOTICE OF ANNUAL MEETING OF STOCKHOLDERS
To Be Held May 1, 2015

April 1, 2015

To the Stockholders of VirTra Systems, Inc.:

NOTICE IS HEREBY GIVEN that the Annual Meeting of Stockholders (the “Annual Meeting”) of VirTra Systems, Inc. (the “Company” or “VirTra”) will be held at the VirTra offices located at 7970 South Kyrene Road, Tempe, Arizona 85284, on May 1, 2015 at 1:00 p.m. MST, for the following purposes:

(1) To elect three (3) directors of the Company to serve until the next Annual Meeting of Stockholders or until their successors shall be elected and duly qualified; and

(2) To consider any other matters that may properly be brought before the Annual

Meeting or any adjournment(s) or postponement(s) thereof.  VirTra is mailing this notice of Annual Meeting, proxy statement, and the related proxy, on or about April 1, 2015 to its stockholders of record on March 25, 2015. Only stockholders of record at that time are entitled to notice of, and to vote at, the Annual Meeting and any adjournment or postponement thereof. A list of stockholders entitled to vote at the Annual Meeting will be available for inspection by any stockholder, for any purpose germane to the Annual Meeting, at the Annual Meeting, and for ten days prior to the Annual Meeting during ordinary business hours at the Company’s principal place of business, located at 7970 South Kyrene Road, Tempe, Arizona 85284. All stockholders are cordially invited to attend the Annual Meeting. However, to assure your representation at the Annual Meeting, you are urged to complete, sign, date and return the enclosed proxy as promptly as possible. Any stockholder attending the Annual Meeting may vote in person even if he or she has returned a proxy.

By Order of the Board of Directors,
/s/ Robert D. Ferris
Robert D. Ferris
Chairman of the Board, President and
Chief Executive Officer

IMPORTANT – IF YOU DO NOT EXPECT TO BE PRESENT AT THE ANNUAL MEETING AND WISH YOUR SHARES OF COMMON STOCK BE VOTED, YOU ARE REQUESTED TO SIGN AND RETURN BY MAIL THE ENCLOSED PROXY WHICH IS BEING SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS. MAILING INSTRUCTIONS ARE INCLUDED AT THE BOTTOM OF SUCH PROXY. Read more…

Tempe, Arizona (March 31, 2015)VirTra Systems (OTC Pink: VTSI), a leading provider of firearms simulators to military, law enforcement agencies and other organizations, today announced the release of its year end 2014 audited financial statements.  Included with the corporate financial statements for the year ended December 31, 2014, VirTra has released the report of its independent registered public accounting firm, Semple Marchal & Cooper, LLP.  The audited financial statements are available on VirTra’s website and here.

Financial Summary:

  • Net sales were a record $9.9 million for the year ending December 31, 2014, compared to the previous year’s sales of $9.8 million.
  • Gross margin for 2014 was 56% of net sales, compared to 66% last year. The primary drivers for the decrease were client-paid customization projects, with some personnel expenses recorded in cost of products sold versus selling, general and administrative expenses (SG&A).
  • SG&A expenses of $4.2 million in 2014 decreased 13%, from $4.9 million in 2013. As a percent of revenue, SG&A was 43% for 2014 compared to 50% in the prior year.  The change is due to the recording of certain customization project personnel expenses in cost of products sold.
  • Income from operations was $1.3 million for the year ending December 31, 2014. Net income for the current year is 13% of net sales.
  • Stockholders’ equity increased to $2.7 million at December 31, 2014, compared to $1.4 million at December 31, 2013. The company had no debt as of December 31, 2014.
  • Throughout 2014, the company used $0.3 million in cash from operating activities. Cash and cash equivalents were $1.9 million at the end of 2014, down from $2.4 million at December 31, 2013.

Other Significant Events:

  • During the second half of 2014, the company signed two new high-profile clients: the Los Angeles County Sheriff’s Department, on October 17, 2014, and the U.S. Department of Homeland Security on September 22, 2014.
  • During third quarter 2014, VirTra received a record $10.7 million in purchase orders.

Read more…

BUSINESS 

http://www.wired.com/2015/03/virtra/

“I GOTTA GET the guns,” Scott Digiralomo tells me over his shoulder as he leads me down the cinder block hallways of the Morris County Public Safety Training Academy in Morristown, New Jersey. Digiralomo, director of the county’s Department of Law and Public Safety, ducks into an empty room and, out of a large black safe, fetches an M4 rifle and a Glock.

At this point you should know that as a writer who works in Manhattan, lives in one of the yuppiest neighborhoods in Brooklyn, and gets panicky just passing by armed officers in the New York City subway, this is not how my days typically begin. And yet, no more than 30 minutes later, there I am, a Glock tucked into the holster on my right hip and a can of pepper spray in the left, cautiously approaching a woman in a white SUV who is blocking her ex-boyfriend’s driveway, refusing to let him and his new girlfriend leave.

“Get that crazy bitch out of here now!” yells the new girlfriend, standing in front of the house as I wander up the lawn. Before I can take another step, shots ring out from the SUV. I freeze, and a beat later, clumsily pull the weapon from my hip.

“Uh, put your hands up? And your weapon down? Please?” I say too politely, as if asking a waitress for another basket of bread. But it works. The shooter emerges from the car in a gray hoodie and jeans. She’s still screaming, but she drops the gun and falls to her knees, arms raised. In that instant, I’m pretty sure the situation’s under control, so I take a second to wonder what I’m supposed to do next.

And then she shoots me.

Behind me, Digiralomo is laughing, not because he’s some masochist who’s going to watch me bleed to death, but because the entire scenario, as you may have guessed, is a virtual reality simulation, and I—standing in the middle of the darkened room, surrounded by an array of screens, doing what has to be the world’s worst impersonation of a cop—look like a total tool.

But while this may have been little more than an exercise in embarrassment for me, Digiralomo assures me that this system, designed by a company called VirTra, is actually critical in helping police officers hone their skills as decision makers before they’re let out in the real world. Morris County installed the technology last November, smack dab in the middle of one of the most contentious periods in recent history between police and the public. And while Digiralomo says that wasn’t why the academy bought the roughly $300,000 system, it’s hard not to see the connection.

Not Can You Shoot But Should You

The fatal shooting of Michael Brown in Ferguson, Missouri, last summer cracked open the scab on one of our country’s oldest wounds. It fueled new conversations about centuries-old issues and exposed gaping rifts across the entire country, not only on the subject of whether Officer Darren Wilson was justified in shooting Brown, but on whether or not minorities living in the United States are safe in the hands of the police officers that are hired to protect them. No amount of technology will ever solve these deeply rooted societal issues. Systems like VirTra’s—so-called cave automatic virtual environment, or CAVE, systems—have been around for a while. But as President Obama and others call for more robust police training, training technology that can simulate a world more like the real one takes on an added urgency.

Today, in states like New Jersey where Digiralomo works, officers are required to re-qualify for the police force twice a year by testing their shooting accuracy on a gun range. While that demonstrates that officerscan use their weapons, it doesn’t necessarily help them understand whether they should.

“In a lot of cases like Ferguson, it’s not about whether or not the officer was accurate when they shot,” Digiralomo says. “The question comes down to the decision the officer made, and whether the officer should have used deadly force. A lot of that comes down to decision making.”

Systems like VirTra’s are designed with just that in mind. “We’re finding there’s a need for cities and national agencies to train at above minimum standards,” says Bob Ferris, CEO and founder of VirTra. “With this new technology, they can better prepare officers for use of force and the life and death situations that often make the headlines.” Read more…

VirTra will hold its 2015 Annual Shareholders’ Meeting on Friday, May 1 in Tempe, Arizona at 1:00 p.m MST. VirTra has determined the close of business on March 25, 2015 as the record date for determining the shareholders entitled to vote at the Annual Shareholders’ Meeting. Notice of the meeting, full details and related materials will be mailed the first week of April.

PR Newswire

TEMPE, Ariz., Feb. 11, 2015 /PRNewswire/ — VirTra (OTC: VTSI), a leading provider of use of force training and shooting simulators to military, law enforcement agencies and other organizations, is exhibiting at IDEX 2015, an international exhibition and conference showcasing the latest technology from leading international companies.

Held biannually at the Abu Dhabi National Exhibition Centre in the capital of United Arab Emirates, IDEX will be held Feb. 22-26 featuring more than 590,000 square feet of technological innovation and is billed as the largest defense exhibition in the Middle East. More than 1,100 international and regional companies from 59 countries will exhibit at the show which attracts global decision-makers, government officials and military personnel.

At IDEX, VirTra will be showcasing its leading training simulators including the V-300™, a 300-degree virtual training system for use of force preparedness for police and military officials and V-Range™, one of VirTra’s virtual shooting range products. The V-300™ is currently being used in various applications with an extensive clientele base that includes police and military agencies in several countries around the world. In the U.S. alone, nearly 200 police agencies use VirTra technology.

In addition, VirTra is partnering with the International Golden Group (IGG), a leading supplier of integrated defense systems in the Middle East furthering VirTra’s international clientele reach. At IDEX, VirTra will be exhibiting at the IGG booth.

“It’s a great honor for VirTra to be selected by International Golden Group as a partner,” said VirTra General Manager Jason Mulcahy. “IGG provides VirTra instant recognition in both the civil and military markets.”

In the United States alone, more than 200 police and military agencies use VirTra technology for use of force preparation. Recent additions to VirTra’s client base include the Los Angeles Sheriff’s Department, one of the largest police agencies in the U.S., and the U.S. Department of Homeland Security which employs virtual training with U.S. Custom and Border Protection with multiple simulators. VirTra also counts many international clients who utilize its technology.

Bob Ferris, VirTra’s Chief Executive Officer, added, “While VirTra continues to enjoy much success is the U.S., we see great opportunities in our expansion efforts internationally. We look forward to showcasing our expertise at IDEX.”

About VirTra
VirTra is a global leading provider of the world’s most realistic and effective use of force and firearms shooting simulators. VirTra is the higher standard in firearms training simulators, offering a variety of simulator platforms, powerful gas-powered recoil kits and the patented Threat-Fire™ simulated hostile return fire system.  VirTra’s products provide the very best simulation training available for personnel that are entrusted with lethal force and critical missions.  The Company’s common stock is not registered under the Securities Exchange Act of 1934 and the Company does not currently file periodic or other reports with the Securities and Exchange Commission. www.VirTra.com

Forward-looking Statements
This news release includes certain information that may constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements are typically identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “proposed,” “planned,” “potential” and similar expressions, or are those, which, by their nature, refer to future events.  All statements, other than statements of historical fact, included herein, including statements about VirTra’s beliefs and expectations, are forward-looking statements.  Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information.  Although VirTra believes that such statements are reasonable, it can give no assurance that such forward-looking information will prove to be accurate.  VirTra cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors.  Accordingly, due to the risks, uncertainties and assumptions inherent in forward-looking information, readers and prospective investors in the Company’s securities should not place undue reliance on forward-looking information.  All forward-looking information contained in this press release is given as of the date hereof, is based upon the opinions and estimates of management and information available to management as at the date hereof and is subject to change.  The Company assumes no obligation to revise or update forward-looking information to reflect new circumstances, whether as a result of new information, future events or otherwise, except as required by law.

Contacts:

VirTra Media Contacts:

VirTra Investor Contacts:

Greg Sexton, (480) 648-7555

David J. Bigelow, (310) 622-8236

Diego Romero, (480) 648-7562

Lisa Mueller, (310) 622-8231

LAVIDGE

Financial Profiles, Inc.

virtra@lavidge.com

vtsi@finprofiles.com

 

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SOURCE VirTra

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