TEMPE, Ariz. — September 17, 2019 — VirTra, Inc. (NASDAQ: VTSI), a global provider of training simulators for the law enforcement, military, educational and commercial markets, has received a $1.7 million fixed-price delivery order for simulators, services, and equipment from 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 comes two months after VirTra received a $630,000 follow-on order from CBP.
Under the terms of this expansion order, VirTra will provide Customs and Border Protection with additional simulators, as well as accessories and new, custom content specifically created to meet the agency’s training needs. CBP has also purchased a warranty plan, under which VirTra will provide any necessary service and maintenance to equipment over the next five years. VirTra expects to recognize revenues from this expansion order over the coming year.
“The United States Customs and Border Protection is a long-standing VirTra customer, and we’re very pleased to consistently find new ways of providing additional support to better serve that agency’s mission,” said Bob Ferris, Chairman and CEO of VirTra. “This order serves as a testament to the strength of our product suite and our ability to expand our footprint with current customers by continuing to provide them with valuable solutions. After this order is complete, VirTra simulators will be located at forty-two major ports of entry, international airports, and training facilities across the country. We look forward to delivering this order and continuing to support the brave men and women who serve our country and protect our borders.”
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.
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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.
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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
VirTra simulators to be located at 35 major international airports, ports of entry and training facilities across the U.S.
Tempe, Ariz. September 12, 2017 — VirTra, Inc. (OTCQX: VTSI), (the “Company”), a global provider of training simulators for the law enforcement, military, educational and commercial markets, today announced the Company has signed contracts totaling more than $2.6 million with the United States Department of Homeland Security for the United States Customs and Border Protection. The contracts include the sale of multiple virtual training systems and accessories, including VirTra’s immersive V-300TM for just over $2 million and a renewal of their simulator service contracts totaling over $600,000. The V-300 judgmental use of force simulators will now be located at 35 major international airports, ports of entry and training facilities across the country.
With more than 60,000 employees, U.S. Customs and Border Protection 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.
“The U.S. Customs and Border Protection safeguards America’s borders protecting the public from dangerous people and materials,” said Jason Mulcahy, general manager of VirTra, Inc. “Their officers interact with more than one million people per day. VirTra’s high-quality immersive training systems will help prepare those officers to handle the hostile and crisis situations they can face while teaching strategic, tactical engagement and de-escalation skills in a safe, controlled and cost-effective manner.”
The V-300 is capable of simulating hundreds of different scenarios that can convey body language and other non-verbal threat cues that are a crucial part of progressive judgmental use of force training. The V-300 also has multiple screens that offer a 300-degree view, and includes peripheral vision and weapons that closely match those used in the field to enhance the transferability of the training to real-life situations. Each training scenario in the VirTra V-300 is based on real-life incidents and is professionally produced with content that is carefully vetted by subject matter experts to rigorously test a trainee’s critical thinking skills, weapons skills under pressure, and psychological responses to the stresses of life-like situations.
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 VirTra 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.
No money or consideration is being solicited by the information in this press release or any other communication and, if sent, money will not be accepted and will be promptly returned. No offer by a potential investor to buy our securities can be accepted and, if made, any such offer can be withdrawn before qualification of an offering by the SEC. A potential investor’s indication of interest does not create a commitment to purchase the securities we are considering offering. Any such indication of interest may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance is given and all other requirements to accept an investment from a potential investor are met after the offering qualification date. Any offering will be made only by means of an Offering Circular. Any information in this press release or any other communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification for sale as provided in Regulation A+ in any such state or jurisdiction.
Media contact: Investor Relations contact:
Susan Lehman Brett Maas
Slehman@virtra.com vtsi@haydenir.com
(510) 599-6555 (646) 536-7331
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