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VirTra Receives $2.6 Million in Contracts from U.S. Dept. of Homeland Security for Customs and Border Protection(September 12, 2017)
TEMPE, Ariz., Sept. 12, 2017 (GLOBE NEWSWIRE) -- VirTra, Inc. (OTCQX:VTSI), (the “Company”), a global provider of training simulators for the law enforcement, military, educational and commercial markets, today announced the Company has signed contracts totaling more than $2.6 million with the United States Department of Homeland Security for the United States Customs and Border Protection. The contracts include the sale of multiple virtual training systems and accessories, including VirTra’s immersive V-300TM for just over $2 million and a renewal of their simulator service contracts totaling over $600,000. The V-300 judgmental use of force simulators will now be located at 35 major international airports, ports of entry and training facilities across the country.
With more than 60,000 employees, U.S. Customs and Border Protection is one of the world's largest law enforcement organizations and is charged with keeping terrorists and their weapons out of the U.S. while facilitating lawful international travel and trade.
“The U.S. Customs and Border Protection safeguards America's borders protecting the public from dangerous people and materials,” said Jason Mulcahy, general manager of VirTra, Inc. “Their officers interact with more than one million people per day. VirTra’s high-quality immersive training systems will help prepare those officers to handle the hostile and crisis situations they can face while teaching strategic, tactical engagement and de-escalation skills in a safe, controlled and cost-effective manner.”
The V-300 is capable of simulating hundreds of different scenarios that can convey body language and other non-verbal threat cues that are a crucial part of progressive judgmental use of force training. The V-300 also has multiple screens that offer a 300-degree view, and includes peripheral vision and weapons that closely match those used in the field to enhance the transferability of the training to real-life situations. Each training scenario in the VirTra V-300 is based on real-life incidents and is professionally produced with content that is carefully vetted by subject matter experts to rigorously test a trainee’s critical thinking skills, weapons skills under pressure, and psychological responses to the stresses of life-like situations.
VirTra 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 realistic and highly-effective virtual reality and simulator technology. Learn more about VirTra at www.VirTra.com.
This news release includes certain information that may constitute forward-looking statements. Forward-looking statements are typically identified by terminology such as “could,” “may,” "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, and 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.
No money or consideration is being solicited by the information in this press release or any other communication and, if sent, money will not be accepted and will be promptly returned. No offer by a potential investor to buy our securities can be accepted and, if made, any such offer can be withdrawn before qualification of an offering by the SEC. A potential investor's indication of interest does not create a commitment to purchase the securities we are considering offering. Any such indication of interest may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance is given and all other requirements to accept an investment from a potential investor are met after the offering qualification date. Any offering will be made only by means of an Offering Circular. Any information in this press release or any other communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification for sale as provided in Regulation A+ in any such state or jurisdiction.
Susan Lehman Slehman@virtra.com
Investor Relations contact: