CHANDLER, Ariz. — September 7, 2022 — VirTra, Inc. (NASDAQ: VTSI) (“VirTra”), a global provider of judgmental use of force training simulators, and firearms training simulators for the law enforcement and military markets, has received two orders worth approximately $9.0 million under an existing contract with the U.S. Customs and Border Protection (CBP). Of the total order amount, $4.3 million is attributable to the CBP and $4.7 million is attributed to another U.S. federal agency ordered under the same contract.
The orders consist of VirTra’s flagship V-300® and portable V-100® simulators, recoil kits and magazines, V-Threat-Fire® devices and other accessories. Service plans are included as well as training and installation. Items on the orders are expected to be delivered within the next eight months.
“These substantial orders are a meaningful accomplishment for VirTra and we are honored to be able to help those who keep our borders secure by providing them with the latest in training technology,” said John Givens, Co-CEO of VirTra. “Additionally, the orders demonstrate the significant need we continue to see for realistic training amongst federal agencies.”
Commented Jason Mulcahy, VirTra’s Sr. VP of Global Sales, “CBP has been a valued client of VirTra for many years and we look forward to assisting them with their training goals through this sizable order. Our world-class training solutions continue to have strong demand from federal agencies, which remains a core growth market for the Company.”
About VirTra
VirTra (NASDAQ: VTSI) is a global provider of judgmental use of force training simulators and firearms 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
The information in this discussion contains forward-looking statements and information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections. The words “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “will,” “should,” “could,” “predicts,” “potential,” “continue,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that we make. The forward-looking statements are applicable only as of the date on which they are made, and we do not assume any obligation to update any forward-looking statements. All forward-looking statements in this document are made based on our current expectations, forecasts, estimates and assumptions, and involve risks, uncertainties and other factors that could cause results or events to differ materially from those expressed in the forward-looking statements. In evaluating these statements, you should specifically consider various factors, uncertainties and risks that could affect our future results or operations. These factors, uncertainties and risks may cause our actual results to differ materially from any forward-looking statement set forth in the reports we file with or furnish to the Securities and Exchange Commission (the “SEC”). You should carefully consider these risk and uncertainties described and other information contained in the reports we file with or furnish to the SEC before making any investment decision with respect to our securities. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by this cautionary statement.
Investor Relations Contact:
Matt Glover and Jeff Grampp, CFA
Gateway Group, Inc.
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.
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Media Contact:
Susan Lehman
Slehman@virtra.com
Investor Relations Contact:
Matt Glover or Charlie Schumacher
VTSI@gatewayir.com
949-574-3860
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