VTSI - VirTra Systems

[JessicaHupe]

VirTra Systems Retains BDO Alliance Member, Semple, Marchal & Cooper, to Perform Audit


TEMPE, AZ--(Marketwire - Dec 5, 2011) - VirTra Systems (PINKSHEETS: VTSI), a leading provider of firearms training simulation systems to military, law enforcement agencies and accredited criminal justice programs, today announced it has entered into a formal audit agreement with Semple, Marchal & Cooper, LLP, one of the preeminent regional Certified Public Accounting firms in the Southwest in providing professional accounting, auditing, tax and management consulting services, to perform an audit of the company's 2011 financial statements.

Semple, Marchal & Cooper is registered with the Public Company Accounting Oversight Board (PCAOB) and is a member of both the Center for Public Company Audit Firms (CPCAF) and the Private Companies Practice Section (PCPS) of the American Institute of Certified Public Accountants. In addition, Semple, Marchal & Cooper is a member of The BDO Seidman Alliance, a nationwide association of independently owned local and regional accounting, consulting and service firms. BDO USA, LLP, is an international accounting firm with more than 1,000 member firm offices worldwide, which provides tax, accounting, auditing and management consulting services in 119 countries. BDO is the fifth largest international accounting and consulting network and serves more than 250 U.S. and 100 internationally publicly traded entities.

Bob Ferris, President and Chief Executive Officer of VirTra Systems, stated, "We are pleased to add Semple, Marchal & Cooper to VirTra Systems' team of respected third party professionals. One of the most important aspects of our decision was the ability to work with a regionally-focused firm like Semple, Marchal & Cooper that is headquartered in our own backyard but also possesses the scope and reach of BDO, one of the largest international accounting networks. We believe this will provide us with the best of both worlds as we look to progress from our current status as a non-reporting company trading on the OTC Pink market to our goal of becoming an SEC reporting company as soon as possible, subject to the audit and meeting SEC requirements."

Robert Semple, CPA, Partner of Semple, Marchal & Cooper, LLP, commented, "We look forward to our involvement with VirTra Systems and we believe we can provide tremendous value to the company both presently and as it looks to transition to SEC reporting status in the future. Our firm has worked with numerous middle-market public clients over the years and a number of those clients have utilized the greater BDO network as they have grown. VirTra Systems is a leader in its space and our firm looks forward to adding strength to their team of talented professional advisors."

http://www.marketwire.com/press-release/virtra-systems-retains-bdo-alliance-member-semple-marchal-cooper-to-perform-audit-pinksheets-vtsi-1594425.htm

[Josephmit]

Use of Force Training Simulator Sold to Criminal Justice College


TEMPE, AZ--(Marketwire - Nov 29, 2011) - VirTra Systems (PINKSHEETS: VTSI), a leading provider of firearms training systems to Military, Law Enforcement agencies and accredited criminal justice programs, today announced a contract award for a VirTra 300 use of force training simulator from Northwest College located in Powell, Wyoming.

"Northwest College is among a growing number of innovative criminal justice programs incorporating our use of force simulators to better prepare students for careers in law enforcement," says Bob Ferris, CEO, VirTra Systems. "The VirTra 300 allows students to develop the decision-making skills required by officers in the real world."

The purchase includes tetherless recoil kits that allow students to train with real firearms, TASER? and OC kits for non-lethal weapons training and VirTra's patented Threat-Fire™ return fire system. Northwest College also selected accessories for low light training.

The VirTra 300 is the most immersive firearms training simulator available. Five screens surround students within 300 degrees of video-based use of force training scenarios. VirTra's patented Threat-Fire™ device enhances training realism with an adjustable electric impulse that simulates return fire.

Northwest College is a public two-year residential college located in Powell, Wyoming. The Criminal Justice program at Northwest College prepares students for Law Enforcement and correctional careers through courses including Criminal Investigation, Policing, Criminology, and Criminal Law.

http://www.marketwire.com/press-release/use-of-force-training-simulator-sold-to-criminal-justice-college-pinksheets-vtsi-1592050.htm

[johnnieoe16]

Firearms Simulation Training Provider, VirTra Systems, Selects Strategic Advisor, Investor Relations Counsel & Investment Bank, The Miller Group


TEMPE, AZ--(Marketwire - Nov 17, 2011) - VirTra Systems (PINKSHEETS: VTSI), a leading provider of firearms training simulation systems to military and law enforcement agencies, today announced it has selected The Miller Group of affiliated entities comprised of Miller Capital Corporation, a well respected management consulting and strategic advisory, investor relations and venture capital firm and Miller Capital Markets, LLC, a FINRA member investment banking firm, to assist the company with its goals to expand its business, hone its financial strategy and strengthen its investor relations program.

Bob Ferris, President and Chief Executive Officer of VirTra Systems, stated, "At VirTra Systems we have strived to be leaders in the simulation market and therefore it was extremely important for us to locate the right partner to assist us through current and future growth opportunities and taking our business to the next level. We are excited to have found that partner in The Miller Group, with its proven track record in working with public middle-market companies and its experienced, professional executives who truly understand the opportunities and challenges facing growth companies." Mr. Ferris continued, "We believe VirTra's future is bright and we think The Miller Group's addition will help propel VirTra to new heights."

Rudy R. Miller, Chairman, President and Chief Executive Officer of The Miller Group, commented, "We have monitored the progress of VirTra Systems for a few years and recently acquired shares in the open market through our venture capital entity. Our firm is extremely impressed with what Bob and his management team have been able to accomplish thus far and believe the company's products are setting the standard in the industry. Therefore, our firm is pleased to have been selected by VirTra Systems as its strategic and financial advisor, investor relations counsel and investment banker, as it is a distinctive company that has a number of compelling opportunities."

Mr. Miller continued, "Bob has made some strong additions to VirTra's executive management recently and we believe our firm now rounds out the VirTra team. We traditionally work with NASDAQ, NYSE Amex and NYSE public companies but believe this is a unique company. We are enthused to bring our firm's knowledge and experience to VirTra and look forward to assisting the management team in its efforts to maintain leading edge status in the simulation market and achieve greater heights through the implementation of new strategies and execution of those plans."

http://www.marketwire.com/press-release/firearms-simulation-training-provider-virtra-systems-selects-strategic-advisor-investor-pinksheets-vtsi-1588232.htm

[jpaiwlel95]

VirTra Systems' 3rd Quarter Results Contribute to Significant Gain in Year-to-Date Success


TEMPE, AZ--(Marketwire - Nov 15, 2011) - VirTra Systems (PINKSHEETS: VTSI), a leading provider of firearms training systems to military and law enforcement agencies, today reported financial results for the third quarter of 2011. During this period, the company realized a net gain of $0.39 million or $0.0024 per share compared to a net gain of $0.38 million or $0.0025 per share for the three-month period ended September 30, 2010. For the nine months ended September 30, 2011 the company experienced net income of $1.14 million or $0.0072 per share compared to net income of $0.78 million or $0.0052 per share during the prior year period, an increase of 47%.

Total revenue generated during the third quarter was $2.04 million up from $2.02 million in third quarter 2010. Revenue was $6.73 million for the most recent nine-month period compared to $4.26 million during the same period in 2010, a boost of $2.47 million or 58%. In addition to growth in the company's sales of new simulation systems, a key contributor to this success has been significant gains in other revenue related to warranties, upgrades and accessory sales.

Cost of sales for the nine months ended September 30, 2011 were $2.37 million, or 35% as a percentage of revenue, compared to $1.53 million the prior year, or 36% as a percentage of revenue. General and administrative expenses during the last nine months were $3.23 million, or 48% as a fraction of revenue, compared to $1.82 million in 2010, or 43% as a fraction of revenue.

The company has also enhanced its balance sheet. Total shareholders' equity stood at $9.94 million on September 30, 2011 compared to $8.80 million the previous year.

Bob Ferris, President and Chief Executive Officer stated, "VirTra's inspiring financial results underscore management's commitment to profitable growth. In addition, recent sales of training simulators to military and law enforcement organizations indicate the market's growing acceptance of our products." Mr. Ferris added, "We look forward to capitalizing on the recent patent VirTra was awarded for the Threat-Fire™ training device, making VirTra the only company in the country to offer a device that simulates hostile return fire by using electronic impulses during simulation training."

http://www.marketwire.com/press-release/virtra-systems-3rd-quarter-results-contribute-significant-gain-year-date-success-pinksheets-vtsi-1587172.htm

[jwsoomqi76]

Weapon Simulator Sold to U.S. Army


TEMPE, AZ--(Marketwire - Nov 8, 2011) - VirTra Systems (PINKSHEETS: VTSI), a leading provider of firearms training systems to Military and Law Enforcement agencies, today announced a contract award for a 180-degree weapon simulator from the United States Army, 834th Transportation Battalion.

"The marksmanship, collective training, and judgmental use of force training facilitated by our simulators assists operational effectiveness," says Bob Ferris, CEO, VirTra Systems. "We are pleased that the U.S. Army selected the VirTra 180 to meet their critical training requirements."

The VirTra 180 is a video-based simulator that assists with individual and collective engagement skills training. Three screens provide an immersive environment for combat training that is reconfigurable to support up to 9 firing lanes for marksmanship training. The system allows trainees to hone marksmanship skills using real weapons equipped with drop-in recoil kits that use compressed gas to simulate recoil.

The U.S. Army purchase includes VirTra's patented Threat-Fire™ device, which delivers an adjustable electric impulse to trainees to simulate hostile return fire, and an advanced M-4 tetherless recoil kit and rifle magazine. The advanced magazine allows instructors to wirelessly program the number of simulated rounds the rifle will fire and to simulate a weapon jam. Also purchased was VirTra's Trainee Monitoring and Recording System, which allows real-time video monitoring, recording, and playback of trainee performance for debriefing.

The U.S. Army 834th Transportation Battalion, Military Ocean Terminal Concord, CA provides strategic terminal operations for military ammunition and cargo movements around the globe.

http://www.marketwire.com/press-release/weapon-simulator-sold-to-us-army-pinksheets-vtsi-1583958.htm