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VirTra Systems
(OTC BB: VTSI)- Breakout News |
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Great news hit the wires just after
the close on VirTra Systems today. The stock has been "drifting
up" for the last two weeks ahead of today's blockbuster event. Obviously,
the word on the company's achievement was anticipated by the market as
the stock closed at a new 52 week high today and finally broke through
the $.15 technical barrier. It made its move on the fourth attempt
since I first wrote about this company on July
15th, suggesting higher levels might easily be attained.
VirTra announced the roll
out of its new line of "Judgmental Use of Force" Training Simulators
on July 23rd. This news was followed up by the announcement of the appointment
of Michael Kitchen to head up the sales force for the new product
line August 20th. He came from a competitor where he was responsible for
millions of dollars in sales.
Today just after the close, VirTra
announced a major breakthrough: the sale of their first "Judgmental
Use of Force" simulator. The first sale was for the IVR-360™ 360-degree
training simulator. This is the fixed version as opposed to the portable
version. Trainees experience a full 360-degree environment without having
to wear a headset. They actually use the same firearm they would use in
the field, instead of some plastic version. The experience is truly three
dimensional, and VirTra systems is the only company in the world
that offers a judgmental use of force training simulator with 3D sight
and sound.
The press release does not disclose
who purchased the unit. I expect this will be the case in many future press
releases, as security related government agencies around the world wide
maintain a high level of secrecy. The press release does say this first
order contemplates a multiple unit order in the first quarter of 2004.
Kelly Jones, CEO of VirTra
published
a letter to friends and shareholders today after the news came out. He
disclosed that the purchaser is "International", and that a "prompt
purchase of more than ten additional units after the successful installation"
is
likely. He also points out that Michael Kitchen delivered his first sale
just 23 days after coming to work for the company.
I strongly recommend you get on Kelly's mailing list if want to
stay up to date. Click
Here to go directly to the sign up page.
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Far
From Too Late |
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I have been suggesting to OTC
Journal members that they accumulate this stock up to $.15.
Based on today's closing price and the news which came out late in the
day, I don't believe you will ever have the chance to pick this stock up
under
$.15 again. If you don't own this one below $.15, you're
probably not going to. This stock has now broken out and probably won't
look back.
As you can see from the chart, since
first writing about VirTra, the stock has made a series of higher
lows, confirming an uptrend is in place. The $.15 level has been
overhead resistance. The stock has also tried to pierce the $.15
mark three times, and broke through convincingly today on the fourth try
today. Since today's closing price marks a new 52 week high for the stock,
every OTC Journal member who already owns this one is now notching
a profit.
Volume will undoubtedly be substantially
higher tomorrow, and with some luck this breakout could take us directly
to the $.25 initial price target I set back in July.
Longer term the picture looks much
better than $.25. In July of 2002, VirTra traded nearly to
the $.50 mark, which might represent a better long term target if
the company continues gaining momentum.
Consider the market for the Judgmental
Use Of Force Training Simulators. Just open your newspaper and
read the current events. The unfortunate circumstances of today's world
make for a huge market for VirTra's new product line, and I believe
today's sale is just the proverbial tip of the iceberg.
Here is the complete text of today's
news release for your review:
| Press Release Source:
VirTra Systems, Inc.
VirTra Systems Announces
Training Simulator Sale
Tuesday September 23,
4:13 pm ET
ARLINGTON, Texas, Sept.
23 /PRNewswire-FirstCall/ -- VirTra Systems, Inc. (OTC Bulletin Board:
VTSI - News) today announced the first-ever sale of its IVR(TM) series
of training simulators to an international law enforcement training center.
The company has received
a purchase order for its recently-announced IVR- 360(TM) 360-degree training
simulator, which has been designed for use by military, security, and law
enforcement agencies for situational awareness and judgmental use-of-force
training. The order has a value of over six figures, with an anticipated
delivery date of mid-fourth quarter. The order contemplates the purchase
of multiple additional IVR-360 units in early 2004 based upon a successful
initial installation.
At the customer's request,
for security reasons the location will be held in confidence until the
training center's official opening later this year.
"Given the customer's
swift decision after being introduced to VirTra Systems' product line,
it is apparent that the use-of-force simulator market is ready for our
advanced 360-degree multisensory training technology," stated Michael Kitchen,
VirTra Systems' vice-president of training and simulation sales. "VirTra
Systems is clearly pioneering the future of 360-degree training simulation,
and, with ten years of engineering experience within the virtual reality
field, I believe the company will continue to lead the industry's technological
path, and will eventually dominate the market."
"We are pleased to announce
this milestone in our growing company's history," stated L. Kelly Jones,
VirTra Systems' chief executive officer. "To have brought such an advanced
product from concept to market in just 24 months is a remarkable accomplishment,
and is the direct result of the long hours and hard work our development
and sales teams have invested in our future. This initial sale validates
that our training/simulation products and corporate mission are in tune
with this growing $30 billion plus annual market, and we expect other announcements
to soon follow."
About VirTra Systems
VirTra Systems is the
leading producer of turnkey immersive virtual reality(TM) systems, providing
360-degree, interactive photorealistic environments to commercial enterprises
and governmental agencies. The Company's virtual reality products incorporate
the sensations of motion, touch, sound, and smell into promotional experiences
for Fortune 500 companies such as Buick, Pepsi, Chevrolet, and Pennzoil.
VirTra Systems also produces advanced training systems utilizing photorealistic
situational awareness and judgmental use-of-force scenarios around its
immersive virtual reality(TM) technology for security and law enforcement
agencies. To find out more about VirTra Systems, Inc. (OTCBB: VTSI - News),
visit the corporate website at www.virtrasystems.com , or the training/simulation
website at www.virtratraining.com .
This press release contains
certain forward-looking statements. Forward- looking statements are generally
preceded by the words such as "plans," "expects," "believes," "anticipates,"
or "intends." Investors are cautioned that all forward-looking statements
involve risks and uncertainties that could cause actual results to differ
materially from current expectations. VirTra Systems urges investors to
review in detail the risks and uncertainties contained within its filings
with the Securities and Exchange Commission.
Media Relations:
MPH
Mike Hiles, principal
Los Angeles, California
310 234-3200
mhiles@mphpr.com
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Source: VirTra Systems,
Inc. |
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