TEMPE, AZ, Apr 30, 2013 (Marketwired via COMTEX) — VirTra (pinksheets:VTSI), a leading provider of firearms training simulators to military, law enforcement agencies and other organizations, today announced the award of a contract valued at a minimum value of USD $2+ million for firearms simulators, simulated recoil weapons and accessories. The project is for an undisclosed and new international customer and destination for use by both police and military forces.
The project includes specially designed and highly advanced tetherless simulated recoil systems compatible with both VirTra’s V-100(TM) marksmanship simulator as well as VirTra’s V-180(TM) / V-300(TM) multi-screen ultra-realistic and effective training simulators. The systems will also include a next generation scenario debrief capability. A long list of other accessories and state-of-the-art capabilities are planned for the simulation training center.
The engineering, production and delivery are to occur in approximately 18 months or less.
Bob Ferris, Chief Executive Officer of VirTra, stated, “After more than two years of extensive demos and detailed industry research by the customer, VirTra is honored to be selected for this prestigious international project. This project represents the highest standard in marksmanship, use-of-force, and tactical simulation capabilities in the world. Once installed, this extensive training center will be an ideal location for full demonstrations of VirTra’s product capabilities to other agencies throughout the country.”
VirTra is a global leading provider of the world’s most realistic and effective shooting simulators. VirTra is the higher standard in firearms training simulators, offering a variety of simulator platforms, exclusive realistic simulation software, powerful gas-powered recoil kits and the patented Threat-Fire(TM) 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.
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
Rudy R. Miller
Chairman, President & CEO
The Miller Group