|By Marketwired .||
|July 23, 2014 07:05 AM EDT||
TEMPE, AZ--(Marketwired - July 23, 2014) - VirTra Systems (PINKSHEETS: VTSI), a leading provider of firearms simulators to military, law enforcement agencies and other organizations, today announced that it successfully passed all factory acceptance tests (FAT) for an international contract exceeding $2 million (announced April 2013). The testing was conducted by fifteen individuals from the international customer, who carefully verified the performance of hardware and software over a five day period at VirTra's headquarters in Tempe, Arizona.
The success is a critical milestone as it represents the culmination of many man years of work by VirTra's engineers and software developers resulting in a host of new capabilities. The new features both enhance VirTra's current line of products as well as expand VirTra's reach to a broader worldwide audience of customers who require a range of training capabilities.
"Due to years of hard work with both product advancements and marketing, VirTra is well positioned to pursue the tremendous opportunities in international military and law enforcement markets as well as the North American markets. We are committed to supplying uniquely effective, affordable, simulation training products throughout the world," said Jason Mulcahy, General Manager at VirTra.
The new products and features cover a wide range of customers' most critical training needs, such as: software enhanced to fully support military and law enforcement marksmanship training, greatly expanded and flexible use of force training (V-Author™), next generation wireless smart weapons, advanced video debrief for instructors, enhanced international language support of both software and content, real world ballistics, full upgrade of nearly every piece of VirTra software and many other advances.
"Our growth opportunity is based on our market potential and our market potential is driven by our product line. Today, I'm pleased to announce the successful third party testing of the most comprehensive expansion of our product capabilities. It is very timely to add these new products at a point when effective firearms and use of force simulation training is profoundly needed to help maintain stability throughout the world with the least possible loss of life," said Bob Ferris, CEO at VirTra.
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.