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[Jaymo]

Looks like you might need to check your eyes.

March 11, 2009
VirTra Systems, Inc. - Press Release Detail

August 17, 2009
VirTra Systems, Inc. - Press Release Detail

October 12, 2009 - Correct, this one isn't on their website, BUT it's because it doesn't involve a current sale:
http://www.pioneerlocal.com/skokie/n...509-s1.article
If you read the 2nd paragraph, you will see this mentions a $199,000 grant that will allow the Skokie PD to purchase a $138,495 IVR-300HD system when they relocate in 14 months.

[Jaymo]

Spent the last two hours digging through more information on the web. I wanted to compile a list of Q3 orders and sales to show you guys why I'm excited about this company's potential. They are under new management and ever since the change in management they have had 5 consecutive profitable and record-breaking quarters



For clarification of the different models:
~ IVR-base HD - one screen
~ IVR-180 HD - two screens 180 degree viewing angle
~ IVR-300 HD - five screens 300 degree viewing angle - $138,495
~ IVR-360 HD - six screens full 360 degree viewing angle
Seriously, check out the website if you haven't already - plenty of info about the different models and anything else you might want to know
Firearms Training Systems and Simulators - VirTra Systems Serve Military, Police, and Law Enforcement

I am not certain of all the different price levels for these models but this article states that the IVR-300 costs $138,495
Police grant funds state-of-the-art training system :: News :: PIONEER PRESS :: Skokie Review



First of all - for comparison's sake:
Q2 - New system sales totaling $877,137.


Current orders for this quarter:
1 - Four orders from Lockheed Martin (It's a little unclear what LM's intentions are as of now. These orders seem to be small orders testing the Threat-Fire belt systems, M-4 recoil kits, and other parts of the simulators, but not the actual simulator system itself.
http://www.businesswire.com/portal/s...98&newsLang=en
http://www.businesswire.com/portal/s...52&newsLang=en
http://www.marketwatch.com/story/vir...ess-2009-09-01

2 - Bellevue P.D. (police dept.) custom IVR-180 - again I'm not sure what the actual price of this model is but considering the IVR-300 is $138,495 I'm guessing this model would be in the range of $75,000-$125,000.
http://www.tmcnet.com/usubmit/-virtr...03/4257237.htm

3 - Saudi Aramco order for a simulator system (exact model was not specified but this is the 3rd sale in the Middle East)
~~In case you haven't heard of Saudi Aramco - it is a government-owned oil company in Saudi Arabia and is the LARGEST oil corporation in the WORLD. Small potatoes, right?
http://www.businesswire.com/portal/s...02&newsLang=en

4 - Mexico - multiple screen simulator (11th sale in South America)
~~Orders 3. and 4. are valued at approximately $500,000 combined and mark continued expansion into international markets

5 - FIVE complete simulator system sales to 5 different locations in the U.S. - these five range from single-screen to multiple-screen simulators
A. The U.S. Marshals Great Lakes Regional Fugitive Task Force.
B. The Holliston Police Department in Massachusetts
C. The West Virginia State Police
D. The Gwinnett County Sheriff's Department in Georgia
E. The Department of Defense, in a currently undisclosed U.S. location
http://www.businesswire.com/portal/s...25&newsLang=en

6 - Agora Telecom (VirTra's Brazilian distributor) orders THREE new simulators for delivery in 2009. The order is for three full IVR-300 HD simulation packages. ($138,395 x 3 = $415,485)This marks Agora's fifth simulator sale in Brazil. Agora has advanced to the point where they will be installing these and all future simulators with their own trained personnel
http://www.businesswire.com/portal/s...93&newsLang=en

7 - Slightly mysterious 5th order from Lockheed Martin. Like I've said in previous posts in this thread, this has only been announced on VirTra's official website as a result of Lockheed Martin's demands. I will not speculate as to what this might mean so form your own speculation.
"VirTra receives Largest Order to Date From Lockheed Martin Simulation Training and Support Business"




Number Crunching:
Now...you can form your own estimates of current sales from this quarter but here are some VERY conservative estimates. I would probably assume that the real numbers will be higher but I would rather aim low and be surprised than overshoot.

1. I have no idea what the value of the Lockheed Martin contracts will end up being so I'll just omit these for now
2. $100,000
3. + 4. $500,000
5. $600,000 (conservatively assuming 4 out of 5 are the lowest model - but could end up being anywhere from $550k to upwards of $800k or so)
6. $415,485
7. Again - it's unclear what these order consist of so I will omit this one as well.

Total: $1,615,485

Like I said, this is an extremely conservative estimate. This number doesn't even include the $ from Lockheed Martin. I'm thinking that this is the lowest it could possibly be and even at that, it's nearly double the sales of the last quarter.

I'm still fairly new to trading so I'm no good at crunching numbers and projecting them onto the price per share so if there's anyone out there with more experience feel free to chime in!!


Summary and Outlook:
It really seems like VTSI is starting to get a foothold in the market and are beginning to attain more of market share. Don't forget about their ongoing partnership with Threat Dynamics (mentioned in one of my earlier posts). The first training facility built in Oregon is equipped with one IVR-300 HD and two IVR-100s. If the current training facility is successful there are plans to build 11 more throughout the U.S. in the coming years (assuming they use the same configuration with the 3 simulators that would be roughly $3.7 million in additional sales for 11 facilities).

I can't imagine that the Q3 numbers would be any lower than what I have drawn up here. If I'm right on these numbers, I think the Q3 report could really get VTSI moving (maybe even a run up in anticipation of the earnings report). I read somewhere on another board that last year's Q3 report was released mid November so keep an eye out for the rest of this month and beginning of November for some volume/movement.

Disclosure:
Long/Looking to average down

[Jaymo]

Just found this in their Q2 Report - Unbilled contracts totaling $1.2 million which were near completion on 6/30/09 - WOW Q3 is looking better and better.

Note 7 - Cost and Estimated Earnings in Excess of Billings (and Billings in Excess of Costs and Estimated Earnings) on Uncompleted Contracts
During 2nd Quarter 2009, we had three large projects nearly completed in the production stage. Our percentage of completion is based on total costs incurred to date compared to the estimated total cost of each contract. Of the partially completed work at June 30, 2009, we have incurred total costs of $290,925 on contracts totaling $1,237,243 of total revenue. We estimate that we will incur approximately $24,975 of additional costs and do not expect to incur any losses on our uncompleted contracts. Our costs and estimated earnings in excess of billings on uncompleted contracts total was $75,502 at June 30, 2009.

[Jaymo]

I've been posting a lot on this one but no one seems to have any opinions...feel free to chime in anytime!!

Great day for VTSI so far. It was ranging from .091-.095 in the morning and early afternoon (I picked up more shares at .091) and then finally pushed up on some higher volume spikes.

It's holding the pennant formation really nicely so watch for it either to bounce off overhead resistance or push through it on higher volume. Don't forget there's going to be some anticipation of Q3 numbers (should be released mid Nov.) so if you're thinking about getting in soon, don't wait too long.

[Jaymo]

Just found this while digging around. If Saudi Aramco approves of the simulator system they just ordered, I'm guessing there will be more orders in the future, further increasing VirTra's revenues as well as their ongoing spread to international markets.

Saudi builds security force of 35,000 to guard oil | U.S. | Reuters

Saudis create oil plant security force : World

Short summary for the lazies:
~ Saudi Aramco recently placed an order with VirTra for ONE multi-screen simulator system.
~ Saudi Aramco is the largest oil corporation in the world (9 million bpd - over a tenth of global supplies) - Strong alliance with Washington (U.S.)
~ The kingdom of Saudi Arabia is investing $5 billion to create a 35,000-member security force that will act independently of other Saudi state security forces, so that they can react to attacks much faster.
~ The force is currently at 9,000 personnel, planning on 35,000 within 3 to 4 years
~ Any attack on the oil fields by terrorists would threaten the decades-old alliance between Saudi oil and the U.S. - major target of Arab opposition groups.
~ Spent $250 million in the past two years on building up security

Now think about the fact that 5,000 Saudi Aramco-employed security agents are being trained by Lockheed Martin and remember that not only is Aramco ordering from VirTra, but Lockheed Martin has also already placed 4 small orders and one larger order of currently unknown significance with VirTra as well. Hmmmm...wonder why they're ordering VirTra products. Could it be that they are training 5,000...soon to be 35,000 Aramco employees??? We'll see!!

[Jaymo]

Found some info on Agora Telecom (the distributor for VirTra simulator systems in Brazil). They are the supplier of security systems for the government of Brazil. Considering most security in Brazil is provided by the government, I'd assume they will have a heavy hand in the security for the recently announced 2016 Olympic Games in Brazil. Agora Telecom now has trained personnel that are capable of installing VirTra's simulators on their own. The orders I have previously mentioned in my posts include an order by Agora for three more simulators for delivery in 2009, marking the 5th overall simulator sale in Brazil. Interest in VirTra's simulators is beginning to spread not only nationally (police departments, dept. of defense, threat dynamics, etc) but also internationally in Brazil, Mexico, the middle east (Saudi Aramco order - with possible future orders considering they will be training 35,000 security agents in the next 3 to 4 years to protect their oil fields - see my previous posts for more details).

While I'm at it, I also found some stuff about the Threat Dynamics facility (read my previous posts if you're not already familiar). Their training center is gaining in popularity ever since opening. Their calendars are filling up faster and faster with appointments - even with civilian appointments. Like I said earlier, if this facility is successful - which it certainly seems it is so far - there are plans for ELEVEN more facilities to be built throughout the U.S. My estimates put 11 more facilities worth of simulator sales at a ballpark figure around $3.7 million - I'm just throwing bare numbers together so it's likely that it will be much higher than that with installation costs, etc included.

I don't have the energy to expand on this right now. I have already done a ton of legwork on building a base of info for everyone here but no one else seems interested. Patrick and I exchange notes in chat every so often but no one responds to posts in this thread

I reiterate: VirTra is going to be releasing Q3 earnings within a month and it's essentially a guarantee that they will announce a 6th consecutive profitable and record-breaking quarter..especially considering the recent increase in orders. VirTra seems to really be firing on all cylinders here. I'm trying to stress some points here but apparently I'm the only one on Rants who's interested..I would hate to be the only one saying I TOLD YOU SO in a month or so...ok maybe I would enjoy it

[Jaymo]

Up 10.23% on this news of an order from the military:

VirTra Receives Military Skills Training Simulator Order from 819th Global Support Squadron

TEMPE, Ariz.--(BUSINESS WIRE)--VirTra Systems, Inc. Bob Ferris, VirTra Systems' CEO and president (Pink Sheets:VTSI), today announced that VirTra has received an order for a five screen, 300-degree IVR-300 4G military skills training simulator from the 819th Global Support Squadron.

Their firearms training system includes recoil kits, M-4/M-16 tetherless recoil kits, a flashlight system, a shotgun insert, M9 tetherless recoil kits, Threat-Fire™ belts, heavy weapon kits for the M240 and M249 firearms and a full library of training scenarios.

The 819th Global Support Squadron wanted the most realistic and effective simulator training available, which made VirTra’s firearms training simulator the natural choice. Used to prepare U.S. Air Force Personnel before overseas deployment, VirTra’s top-of-the-line simulation technology helps save the lives of service members and civilians alike through more realistic 300-degree training. In addition, the system can safely “shoot back” at the trainee via the Threat-Fire™ belt, which delivers a split-second electric stun, adding real-world pressure during a simulated exercise.

“It is very rewarding when a unit of the United States Air Force selects VirTra Systems’ products as their firearm system training simulator of choice. This sale adds to our popularity within the U.S. military market, which is a significant growth market for VirTra,” said Bob Ferris, CEO of VirTra.

[Jaymo]

VTSI finally broke .10 a few minutes ago. The last few days have been showing increasing volume with a few big buys going through. Barely any selling

Keep an eye on it