UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 20, 2019
VIRTRA, INC.
(Exact name of Registrant as Specified in Its Charter)
Nevada | 001-38420 | 93-1207631 | ||
(State or Other Jurisdiction | (Commission | (IRS Employer | ||
of Incorporation) | File Number) | Identification No.) |
7970 S. Kyrene Rd. | ||
Tempe, AZ | 85284 | |
(Address of Principal Executive Offices) | (Zip Code) |
Registrant’s Telephone Number, Including Area Code: (480) 968-1488
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
[ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
[ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
[ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging Growth Company [X]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item 8.01 | Other Events. |
On March 20, 2019, VirTra, Inc. (“VirTra”) issued a press release announcing that it has launched its driving simulator product line and, in conjunction, has secured a $1.9 million inaugural contract for driving simulators from the Department of State for the Republic of Mexico.
A copy of this press release is attached hereto as Exhibit 99.1 and incorporated herein by reference. The information contained in the websites is not a part of this current report on Form 8-K.
Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
Exhibit No. | Description | |
99.1 | Press release of VirTra, Inc. dated March 20, 2019. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
VIRTRA, INC. | ||
Date: March 21, 2019 | By: | /s/ Robert D. Ferris |
Name: | Robert D. Ferris | |
Title: | Chief Executive Officer |
Exhibit 99.1
Driving Simulators Added to VirTra’s Product Line and $1.9 Million Contract Award Secured from the Department of State
TEMPE, Ariz. — March 20, 2019 — VirTra, Inc. (NASDAQ: VTSI) (“VirTra”), a global provider of training simulators for the law enforcement, military, educational and commercial markets, has officially launched its driving simulator product line and, in conjunction, secured a $1.9 million, inaugural contract for driving simulators from the Department of State for the Republic of Mexico.
VirTra has worked in tandem with its strategic partners to develop a vehicle-based simulator, complete with next-generation graphics and a variety of other competitive features. The system is designed to provide a next-generation, safe and reliable environment for efficient skill transfer for law enforcement driver training. Under the terms of the agreement with the Department of State, VirTra will deliver 11 driving simulators to the Republic of Mexico over the coming year. The majority of the $1.9 million in revenue is expected to be recognized later this year.
“VirTra’s focus remains on effective training for our customers and our expansion into driving simulators for police is a natural extension of our product line,” said Bob Ferris, CEO and Chairman of VirTra. “It is incredibly encouraging to see our first significant order for this new simulator come from a long-standing customer. Previously, we have successfully deployed 54 simulators to the Republic of Mexico, and we are happy to be adding to that number with a new type of simulator. I’m incredibly proud of the work the team has done on this product, and we look forward to the many benefits our customers and stakeholders will receive from this new driving simulator.”
About VirTra
VirTra (NASDAQ: VTSI) is a global provider of training simulators for the law enforcement, military, educational and commercial markets. The company’s patented technologies, software, and scenarios provide intense training for de-escalation, judgmental use-of-force, marksmanship and related training that mimics real-world situations. VirTra’s mission is to save and improve lives worldwide through practical and highly-effective virtual reality and simulator technology. Learn more about the company at www.VirTra.com.
Media
Contact:
Susan Lehman
Slehman@virtra.com
510-599-6555
Investor Relations Contact:
Matt Glover or Charlie Schumacher
VTSI@liolios.com
949-574-3860