Tempe, Arizona (April 22, 2015) — VirTra Systems (OTC Pink: VTSI), a leading provider of use of force simulators and firearms training simulators to military, law enforcement agencies and other organizations, today announced that it has successfully defended its’ patents in the simulation marketplace and has settled a suit with FAAC. The particular patents for this suit are US Patent No. 8,267,691 entitled THREAT FIRE SIMULATION AND TRAINING SYSTEM and US Patent No. 8,016,594 entitled METHOD OF TRAINING UTILIZING A THREAT FIRE SIMULATION SYSTEM.
FAAC and VirTra agreed to an undisclosed settlement and FAAC agrees not to infringe the VirTra patents.
Prior to the invention of VirTra’s Threat-Fire ™ a common way to apply pressure to trainees was through a turret that fired projectiles at the trainee during simulation training. This method had several drawbacks: it required safety glasses be worn during training, focused instructor attention on aiming the device, projectiles could hit sensitive areas and cause injury to the trainees, the turret was in one static location potentially leading to negative training, and instructors had to constantly retrieve the projectiles. Since introduction in 2005, VirTra’s Threat-Fire device has been quickly adopted by progressive agencies around the world, as it has none of the drawback of projectile shoot-back and several advantages, with no reported trainee injuries.
A world leader in use of force training, VirTra’s invention of the Threat-Fire device has designed to fundamentally enhance the effectiveness of simulation training. The Threat-Fire device applies an electric voltage for a split-second, creating a local area of pain, less painful than a bullet impacting body armor. The trainee knows they could experience pain during training, so they take the training far more seriously, leading to more effective training. In addition, the extra stress and pressure during training helps better prepare the trainee for a real life or death situation where a mistake could have dire consequences.
About VirTra Systems
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, 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.
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
Financial Profiles, Inc.