VirTra Systems Announces L. Kelly Jones' Departure as CEOApril 24, 2006ARLINGTON, TX - April 24, 2006 - VirTra Systems, Inc. (OTCBB: VTSI) today announced that L. Kelly Jones has resigned as board chairman and chief executive officer from VirTra Systems. The board has appointed Bob Ferris, currently president of VirTra Systems, as the interim chief executive officer.
"On behalf of VirTra Systems' board of directors, I'd like to express our appreciation to Mr. Jones for his years of devoted service," commented Andrew Wells, VirTra Systems' director. "The board of VirTra Systems is committed to shareholder value, and we plan to position our resources to maximize our current marketplace advantage."
Bob Ferris, VirTra Systems' president, received Mr. Jones' letter of resignation via e-mail on Friday April 21, 2006. The resignation letter indicates that Mr. Jones resigned due to a disagreement with the board over a recent strategic decision regarding the company's operational direction.
"VirTra Systems will continue to make strategic decisions that are in the shareholders' best interests and work to improve our company's fundamentals," commented Bob Ferris, VirTra Systems' president and interim chief executive officer. "We look forward to the successful completion of the earlier-announced merger with Altatron and Dynalyst, and will maintain our pursuit of corporate opportunity."
"In addition to serving as chief executive officer of VirTra Systems for more than 6 years, Mr. Jones has acted as the company's chief financial officer and has served the company well with his professional leadership and vision. We will continue to seek Mr. Jones' advice and input to the board on an ongoing basis in areas that would best serve the company and its shareholders," Wells concluded.
About VirTra Systems
Utilizing patented technology, VirTra Systems sells situational awareness firearms training systems to military agencies such as the U.S. Air Force, Army, and Department of Defense, and to national and international law enforcement agencies. The company also produces multisensory promotional virtual reality systems and 3-D theaters for clients such as General Motors, Pennzoil, Red Baron™ Pizza, and the U.S. Army. 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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