Initial delivery order valued at $799,000 expected to be recognized over the coming year

TEMPE, Ariz. — September 23, 2019 — VirTra, Inc. (NASDAQ: VTSI), a global provider of training simulators for the law enforcement, military, educational and commercial markets, has received a new five-year, single awardee indefinite delivery/indefinite quantity (IDIQ) contract from U.S. Department of Homeland Security for U.S. Customs and Border Protection with a potential value of up to $5.0 million.

In addition to receiving the IDIQ contract, VirTra has also received an initial delivery order under this contract from Customs and Border Protection for simulation training products and services valued at $799,000. VirTra anticipates recognizing revenues from this initial order within the next year.

“This new IDIQ contract with Customs and Border Protection is indicative of the additive value we are able to generate with long-standing customers,” said Jason Mulcahy, General Manager of VirTra. “It ensures that CBP has the necessary resources in place to continue utilizing our industry-leading solutions and provides us with an opportunity to further develop this relationship by exploring additional means of assisting the agency in its primary mission of preserving the security of our borders, airports and ports of entry.”

About VirTra
VirTra (NASDAQ: VTSI) is a global provider of judgmental use of force training simulators, firearms training simulators and driving simulators for the law enforcement, military, educational and commercial markets. The company’s patented technologies, software, and scenarios provide intense training for de-escalation, judgmental use-of-force, marksmanship and related training that mimics real-world situations. VirTra’s mission is to save and improve lives worldwide through practical and highly-effective virtual reality and simulator technology. Learn more about the company at www.VirTra.com.

About U.S. Customs & Border Protection
With more than 60,000 employees, U.S. Customs and Border Protection, CBP, is one of the world’s largest law enforcement organizations and is charged with keeping terrorists and their weapons out of the U.S. while facilitating lawful international travel and trade.

As the United States’ first unified border entity, CBP takes a comprehensive approach to border management and control, combining customs, immigration, border security, and agricultural protection into one coordinated and supportive activity.

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 “could”, “may”, “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 Contact:
Matt Glover or Charlie Schumacher
VTSI@gatewayir.com
949-574-3860

TEMPE, Ariz. — July 10, 2019 — VirTra, Inc. (NASDAQ: VTSI) (“VirTra”), a global provider of training simulators for the law enforcement, military, educational and commercial markets, has received a follow-on order from the U.S. Department of Homeland Security for Customs and Border Protection (CBP). This order is part of a previously announced Indefinite Delivery/Indefinite Quantity (IDIQ) contract and totals nearly $630,000.

CBP is charged with keeping terrorists and their weapons out of the U.S. while facilitating lawful, international travel and trade. CBP is one of the world’s largest law enforcement organizations and currently employs more than 60,000 individuals.

Under the terms of the agreement, VirTra will provide comprehensive maintenance and service through September 2020 on simulators and associated products it has previously deployed with CBP. To date, CBP has installed VirTra’s V-300® judgmental use of force simulators at 35 major international airports, ports of entry, and training facilities across the country.

“As this follow-on order demonstrates, supporting VirTra’s simulators in the field provides attractive, longer-term revenue opportunities that follow the initial hardware sale,” said Jason Mulcahy, General Manager of VirTra. “We’re proud to enable and support CBP in their mission of maintaining the security of our borders and ensuring our safety from international threats, and we look forward to continuing this mutually beneficial relationship.”

About VirTra
VirTra (NASDAQ: VTSI) is a global provider of training simulators for the law enforcement, military, educational and commercial markets. The company’s patented technologies, software, and scenarios provide intense training for de-escalation, judgmental use-of-force, marksmanship and related training that mimics real-world situations. VirTra’s mission is to save and improve lives worldwide through practical and highly-effective virtual reality and simulator technology. Learn more about the company at 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 “could”, “may”, “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.

###

Media Contact:
 Susan Lehman
Slehman@virtra.com

Investor Relations Contact:
 Matt Glover or Charlie Schumacher
VTSI@gatewayir.com
949-574-3860

Tempe, Ariz. — April 24, 2018 — VirTra, Inc. (Nasdaq: VTSI), a global provider of training simulators for the law enforcement, military, educational and commercial markets, today announced the company has received a new purchase order for its training simulators under the previously announced indefinite delivery/indefinite quantity (IDIQ) contract with the United States Department of State (DOS). The new order is valued at approximately $1.25 million and is expected to be delivered in the third quarter of 2018.

The DOS is expected to donate the training simulators to the Ukraine and Mexico in support of U.S. Foreign Assistance programs. The simulators are anticipated to be used in basic and advanced weapons training for developing proficiency in marksmanship, use of force judgment skills, close quarters shooting skills and other related skills which law enforcement personnel face in the execution of their duties.

“With this order, VirTra expands its presence into the Ukraine, expanding our international presence and furthering our relationship with the Department of State,” said Jason Mulcahy, general manager of VirTra. “VirTra simulation training is one of the best ways to prepare law enforcement officers for the high-stress encounters they can face in their daily work. We are pleased to provide our systems to the Department of State in support of our foreign allies.”

About VirTra 

VirTra is a global provider of training simulators for the law enforcement, military, educational and commercial markets. The Company’s patented technologies, software and scenarios provide intense training for de-escalation, judgmental use-of-force, marksmanship and related training that mimics real-world situations. VirTra’s mission is to save and improve lives worldwide through realistic and highly-effective virtual reality and simulator technology. Learn more about the company at www.VirTra.com. 

Forward-looking Statements 

This news release includes certain information that may constitute forward-looking statements.  Forward-looking statements are typically identified by terminology such as “could,” “may,” “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, and 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.

Media contact:
VirTra
info@virtra.com
480-968-1488

Investor Relations contact:
Brett Maas
vtsi@haydenir.com
(646) 536-7331

Tempe, Ariz. (September 26, 2016) — VirTra Systems, Inc. (OTC Pink: VTSI), a leading provider of use of force simulators and firearms training simulators, today announced that it has received two indefinite delivery/indefinite quantity (IDIQ) contracts from U.S. Customs and Border Protection, an agency within the U.S. Department of Homeland Security. Under the first $3.2 million IDIQ award VirTra will be the sole provider of ongoing service and maintenance on law enforcement training simulators installed by the company under a previous contract, and under the second $9 million IDIQ award VirTra will fulfill the purchase of additional V-300™ systems and accessories, for a maximum combined value of $12.2 million over the next five years.

Under its previously announced contract with the U.S. Department of Homeland Security, VirTra delivered and installed its V-300 multiple screen systems at 28 separate U.S. Customs and Border Protection field locations, all of which are currently in operation. The new award, if exercised, will extend service and maintenance of those systems and accommodates additional systems to be installed at existing and future field locations over the next five years.

VirTra General Manager Jason Mulcahy commented, “These sizeable follow-on single source awards demonstrate the value provided to the customer through VirTra’s unique firearms training and decision-making simulation products.  We are proud to serve the U.S. Customs and Border Protection and other agencies within the Department of Homeland Security and look forward to continuing to exceed customer expectations as we expand this program.”

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 “could”, “may”, “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. In particular, this IDIQ contract has minimum US$3,000 minimum purchasing requirement and there can be no assurance VirTra will receive meaningful orders thereunder.    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

Tempe, Ariz. (July 7, 2016) — VirTra Systems, Inc. (OTC Pink: VTSI), a leading provider of use of force simulators and firearms training simulators, today announced that it is has received its second order for delivery of law enforcement simulators under the previously announced indefinite delivery/indefinite quantity (IDIQ) contract by the United States Department of State (DOS) that could result in up to $40 million in revenue for law enforcement training simulator equipment and services over the order period, which expires in April 2021, if all options are exercised.  This order is for approximately $943,000 and will consist of both multi and single screen training simulators, related accessories and training for four separate locations in Mexico.

“We are pleased to have received this delivery order to supply additional firearm training simulator systems under this IDIQ contract in support of the U.S. Foreign Assistance Program,” said Bob Ferris, Chairman and CEO of VirTra. “Our commitment is to supply the most effective training simulator equipment available, while exceeding our customer’s expectations. We are proud to be working with the DOS and look forward to a long and mutually beneficial relationship.”

The simulators are expected to be used “in basic and advanced weapons training for developing proficiency in marksmanship, use of force judgment skills, close quarters shooting skills, tactical reloading and weapon malfunction clearing related to typical situations which law enforcement personnel face in the execution of their duties.”

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.  Forward-looking statements are typically identified by terminology such as “could”, “may”, “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. In particular, with respect to the IDIQ contract, there can be no assurance VirTra will receive additional orders thereunder. 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.

pdf-icon View/Print PDF version of Press Release

Investor Relations Counsel

Larry Clark
Financial Profiles, Inc.
(310) 478-2700
vtsi@finprofiles.com

Tempe, Ariz. (May 25, 2016) — VirTra Systems, Inc. (OTC Pink: VTSI), a leading provider of use of force simulators and firearms training simulators, today announced that it is has received its first order for delivery of law enforcement simulators under the previously announced indefinite delivery/indefinite quantity (IDIQ) contract by the United States Department of State (DOS) that could result in up to $40 million in revenue for law enforcement training simulator equipment and services over the order period, which expires in April 2021, if all options are exercised.  This order comes from the DOS’s Foreign Assistance Program, will consist of training simulators, related accessories and training for two separate locations in Mexico, and is for approximately $286,000.

“It is an honor to supply the first systems under this IDIQ contract in support of the U.S. Foreign Assistance Program,” said Bob Ferris, Chairman and CEO of VirTra. “Our commitment is to exceed our customer’s expectations and deliver the most effective training simulator equipment available.  We are hopeful that this initial order will be the beginning of a number of follow-on orders for Mexico.”

The simulators are expected to be used “in basic and advanced weapons training for developing proficiency in marksmanship, use of force judgment skills, close quarters shooting skills, tactical reloading and weapon malfunction clearing related to typical situations which law enforcement personnel face in the execution of their duties.”

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.  Forward-looking statements are typically identified by terminology such as “could”, “may”, “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. In particular, with respect to the IDIQ contract, there can be no assurance VirTra will receive additional orders thereunder.    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

pdf-icon View/Print PDF version of Press Release

Tempe, Ariz. (April 20, 2016) — VirTra Systems, Inc. (OTC Pink: VTSI), a leading provider of use of force simulators and firearms training simulators, today announced that it is one of two awardees under an indefinite delivery/indefinite quantity (IDIQ) contract by the United States Department of State (DOS) for law enforcement training simulators. The maximum value of all individual orders under the contract is US$40 million over the next five years.

If successful in winning individual orders under this contract, VirTra expects to provide law enforcement training simulators and related accessories, installation services, extended warranty services, scenario filming services, and training.  VirTra’s systems generally 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 best prepare officers in judgmental use of force encounters. Using VirTra’s highly-advanced systems, officers hone and refine critical skills, in realistic scenarios, before lives are on the line. The contract requires, among other things, use of force and firearms simulators with peripheral view, a technology pioneered and continually refined by VirTra since 2004.

“The functional requirements of this multi-award IDIQ contract are an excellent fit with VirTra’s proven capabilities,” said Bob Ferris, Chairman and CEO of VirTra.  “It is an honor to be selected as one of just two awardees and we look forward to the opportunity to supply world class training solutions to the U.S. and its foreign partners.”

The U.S. State Department expects a majority of the simulators to eventually be donated to foreign partners in support of U.S. Foreign Assistance programs.  The simulators are expected  to be used “in basic and advanced weapons training for developing proficiency in marksmanship, use of force judgment skills, close quarters shooting skills, tactical reloading and weapon malfunction clearing related to typical situations which law enforcement personnel face in the execution of their duties.”

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 “could”, “may”, “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. In particular, this IDIQ contract has minimum US$3,000 minimum purchasing requirement and there can be no assurance VirTra will receive meaningful orders thereunder.    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

pdf-iconView/Print PDF Version of Press Release