TEMPE, AZ
VirTra Systems, Inc. Bob Ferris, VirTra Systems' president (OTC:VTSI.PK), today announced that on September 30th of this year, VirTra Systems reached an agreeable debt-resolution arrangement with Dutchess Private Equities Fund.
Dutchess Private Equities received a $1.121 million and 1.65 million share judgment against VirTra. This settlement of $550,000 represents the elimination of approximately $571,000 of debt from VirTra’s balance sheet. No interest will be charged on the $550,000 settlement, Dutchess will not proceed with any further legal action against VirTra and Dutchess has agreed to convert stock per the original agreement.
VirTra president Bob Ferris offered, “I am beyond pleased to announce this settlement with Dutchess. This is a major achievement for VirTra Systems as we continue to improve and strengthen our corporate financial condition.”
About VirTra Systems
For over 15 years VirTra Systems has been an industry leader in the simulation and virtual reality marketplace. The company produces the best-in-class firearm simulators for both law enforcement and military customers throughout the world. VirTra is the higher standard in simulation: from exceptional customer service to unparalleled technology like 360 degree HD training platforms and the Threat-fire safe return fire system (both patent pending). When training realism matters, military and law enforcement professionals consistently select VirTra’s simulators to help save lives. For more information, visit www.virtra.com.
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. VirTra Systems urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
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