‘Press Release’ Category

TEMPE, AZ., Nov. 23, 2015 (GLOBE NEWSWIRE)VirTra Systems (OTC Pink:VTSI), a leading provider of use of force simulators and firearms training simulators, today announced that it has recently received an award from an undisclosed international customer in the approximate amount of $3.6 million.

VirTra will supply, install and maintain multiple units of its industry leading V-300™ simulator system at the customer’s locations in 2016. The systems employ multiple screens, realistic video training content and an electric impulse return fire system to simulate the stress of real-world situations – preparing officers for hostile situations with skills honed and refined in realistic scenarios before lives are on the line.

Jason Mulcahy, VirTra’s General Manager, said, “It has been our goal to expand our international business, so as to deliver the most effective and realistic use of force training and ballistically accurate marksmanship simulator solutions to law enforcement and other government agencies throughout the world, all while exceeding our customers’ expectations. This award from this new customer demonstrates our ongoing progress towards achieving that goal.”

Bob Ferris, Chairman and Chief Executive Officer of VirTra, commented, “We are honored to receive yet another significant award, which adds to our growing list of prominent international customers who’ve selected VirTra’s training simulators and accessories. We appreciate the opportunity to serve this new customer and look forward to working with them in 2016 and for years to come.”

About VirTra

VirTra is a global leading provider of the world’s most realistic and effective judgmental use of force 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.

CONTACT: Investor Relations Counsel
         Larry Clark
         Financial Profiles, Inc.
         (310) 478-2700
         vtsi@finprofiles.com

Copyright © 2015 GlobeNewswire. All Rights Reserved

TEMPE, Ariz., Nov. 17, 2015 (GLOBE NEWSWIRE)VirTra Systems (OTC Pink:VTSI), a leading provider of use of force simulators and firearms training simulators, today announced that it has recently received an award from the Victoria Police, the primary law enforcement agency of the State of Victoria, Australia, for just over $1 million.

VirTra will supply, install and maintain multiple units of its industry leading V-300™ simulator system. The systems employ multiple screens, realistic video training content and an electric impulse return fire system to simulate the stress of real-world situations – ultimately to help prepare officers in judgmental use of force encounters. Using VirTra’s highly-advanced systems, officers are better prepared for hostile situations with skills honed and refined in realistic scenarios before lives are on the line.

Scott Dilullo, VirTra’s Business Development Manager, said, “Our V-300™ simulator is used to improve the officers’ skills and abilities in a variety of areas, including situational awareness, decision-making, verbal negotiations, de-escalation, report writing, less lethal force applications, marksmanship and firearms proficiency. The better prepared, trained and confident an officer is, the better that officer will be in handling critical high-stress encounters that could mean the difference between life or death.”

Bob Ferris, Chairman and Chief Executive Officer of VirTra, commented, “We are honored to add the State of Victoria, Australia to our growing list of international customers who’ve selected VirTra’s training simulators and accessories. One of our key strategic objectives is leveraging our extensive investment in realistic use of force and ballistically accurate marksmanship simulators for the benefit of law enforcement and other agencies throughout the world. Our award from this prominent and highly regarded international law enforcement agency supports our progress towards achieving that objective. We appreciate the opportunity to serve this new customer and look forward to exceeding their expectations while working alongside them for years to come.”

About VirTra

VirTra is a global leading provider of the world’s most realistic and effective judgmental use of force 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.

CONTACT: Investor Relations Counsel
         Larry Clark
         Financial Profiles, Inc.
         (310) 478-2700
         vtsi@finprofiles.com

Copyright © 2015 GlobeNewswire. All Rights Reserved

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TEMPE, Ariz., Nov. 13, 2015 (GLOBE NEWSWIRE) — VirTra Systems, Inc. (OTC Pink:VTSI), a leading provider of simulators for judgmentaluse of force and marksmanship training, today announced record financial results for the third quarter of 2015. The financial statements are available on VirTra’s website and here.

Third Quarter 2015 Financial Highlights:

  • Net sales were a record $3.9 million
  • Gross profit margin of 62%
  • Net Income of $1.0 million
  • Stockholders’ equity of $4.2 million as of September 30, 2015
  • Cash and cash equivalents of $2.5 million as of September 30, 2015

“I am pleased to report the strongest quarterly financial results in the history of our company,” said Bob Ferris, Chairman and Chief Executive Officer of VirTra. “This outstanding performance, achieved by the entire VirTra team, is the result of meeting or exceeding our customers’ expectations for effective simulation products. I’m encouraged that our up-front investments to grow our business are succeeding and that we have a strong balance sheet to fund future growth.”

Additional Information on Financial Results:

  • Net sales were $3.9 million for the quarter ending September 30, 2015, up 82%, compared to $2.2 million in the quarter ending September 30, 2014.
  • Gross margin for the quarter ending September 30, 2015 was 62%, compared to 49% for the same period last year. The year-over-year increase in gross margin was primarily due to scale efficiencies resulting from the higher revenue.
  • SG&A expenses were $1.5 million for the quarter ending September 30, 2015, an increase of $0.5 million, from $1.0 million in the same period last year. The higher expenses were primarily due to an increase in workforce to support the increase in business.
  • Net income was $1.0 million for the quarter ending September 30, 2015, compared to $0.1 million for the third quarter 2014. The increase was due to the higher net sales generated during the third quarter of 2015.
  • Stockholders’ equity increased to $4.2 million as of September 30, 2015, up $1.5 million from $2.7 million at December 31, 2014.
  • The Company had no outstanding debt as of September 30, 2015.
  • Cash and cash equivalents were $2.5 million at September 30, 2015, compared to $1.9 million at December 31, 2014.

About VirTra

VirTra is a global leading provider of the world’s most realistic and effective judgmental use of force 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.

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Tempe, Arizona (October 29, 2015)VirTra (OTC Pink: VTSI), a leading provider of use of force  and firearms training simulators to military, law enforcement agencies and other organizations, today announced important news on Modern Round.  The development of a series of new shooting experiences exclusively for Modern Round facilities, based on VirTra’s strong foundation in simulation technology, is underway. The Co-Venture agreement between VirTra and Modern Round means that each Modern Round facility will also benefit VirTra.

Mr. Bill Scheidhauer has been hired as the President and COO for Modern Round, LLC. to manage the roll-out and profitable operation of future facilities across the United States.  Mr. Scheidhauer has worked in the restaurant industry for over 30 years with a focus on combining entertainment with restaurant and beverage operations through the entire process of new location planning all the way to daily operation optimization. His expertise includes restaurant and foodservice venue services such as operations improvement and implementation, new concept start-up and facility build-out, human resource development and training.

Prior to joining Modern Round, Mr. Scheidhauer served as COO for Frank Entertainment Group, managing 29 entertainment locations that mix theaters, bowling, food and beverage. Before that, Mr. Scheidhauer, as COO, grew IPic Entertainment from a single unit to a 10 location leader in upscale theater operations. Previously he was the COO of Lucky Strike Lanes for the explosive first 5 years of the company. In his capacity as COO, he was instrumental in developing and managing all of the operations for 17 units while pioneering the idea of merging fun games with convenient food and beverage offerings. Prior to Lucky Strike, Mr. Scheidhauer served as VP of Operations Services for Jillian’s Entertainment complexes (some of which became Dave & Buster’s locations) where he oversaw the company’s operational systems and training programs. During his tenure with Jillian’s Entertainment, he formed and served as Dean of “Eat, Drink, Play University”.

Modern Round recently executed a lease for its first location, which will be in Peoria, Arizona, a suburb of Phoenix, and is located across the street from the Peoria Baseball Stadium, adjacent to the Harkins Theatres Arrowhead 18 theater complex. The expected size of the location will be approximately 12,000 square feet and is planned to open for business during first quarter of 2016. The Modern Round team, headed by Mr. Scheidhauer, is currently negotiating and exploring potential additional locations throughout the United States.

About VirTra

VirTra is a global leading provider of the world’s most realistic and effective judgmental use of force 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

About Modern Round

Modern Round, a privately held company, was formed to develop and operate the world’s first virtual shooting lounges in key markets across the United States, where guests will enjoy a fun, safe and highly-engaging experience along with world-class amenities.  Modern Round’s lounges will be where technology and entertainment meet delectable food, fine wines, and craft cocktails, providing a distinctive form of entertainment for an all-in-one night out, suitable for first-time shooters and experienced firearm connoisseurs alike.

www.ModernRound.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.

Investor Relations Counsel

Larry Clark

Financial Profiles, Inc.

(310) 478-2700

vtsi@finprofiles.com

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TEMPE, AZ., Oct. 20, 2015 (GLOBE NEWSWIRE)VirTra Systems (OTC Pink: VTSI), a leading provider of use of force simulators and firearms training simulators to military, law enforcement agencies and other organizations, is exhibiting at IACP 2015, an annual law enforcement exhibition and conference showcasing the latest products and innovations designed to help officers better protect and serve their communities. Attendees are invited to learn more about VirTra at booth number 3425.

Heralded as the largest and most important law enforcement event of the year, IACP will be held Oct. 24-27 in Chicago with more than 14,000 public safety professionals expected to attend. More than 650 exhibitors will demonstrate the latest advances in tactical equipment, weaponry and intelligence technology.

At IACP, 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. 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. Recently, VirTra finalized a $1.2 million award from the U.S. Secret Service that will allow the Service to train with VirTra technology.

“We look forward to showcasing our simulators and our expertise in Chicago,” said Jason Mulcahy, VirTra’s general manager. “IACP is the perfect setting to demonstrate the high caliber of training VirTra’s products can offer to the fine men and women who put their lives on the line every day.”

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.

About VirTra

VirTra is a global leading provider of the world’s most realistic and effective judgmental use of force 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.

VirTra Media Contacts:

Greg Sexton, (480) 648-7555

LAVIDGE

virtra@lavidge.com

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