TEMPE, AZ – April 20, 2011 – Bob Ferris, VirTra Systems’ CEO (VTSI.PK), today announced that VirTra has engaged the auditing firm of Moss Adams, LLP to perform a full financial audit of VirTra for both 2010 and 2011.
The audit of 2010 and 2011 is scheduled for completion in early 2012.
VirTra is also planning to register to become a reporting company once again with the U.S. Securities and Exchange Commission; the audit will be undertaken with this objective in mind. The audit and the registration as an SEC reporting company will be the next steps that VirTra will be completing in connection with a planned application to move onto NASDAQ as soon as possible in 2012. VirTra’s first step is seeking shareholder approval of a reverse stock split, which should elevate VirTra’s stock price to a level needed to meet NASDAQ requirements.