TEMPE, Ariz., Oct. 11, 2016 (GLOBE NEWSWIRE) -- VirTra, Inc. (OTC Pink:VTSI), a leading provider of use of force simulators and firearms training simulators, announces today that on October
7, 2016 it filed a Certificate of Change to its Articles of Incorporation to effect a 10-for-one reverse stock split of its
outstanding and authorized common stock. This action was approved by the Company’s board of directors by written consent on
September 29, 2016 and no consent of its shareholders was required in accordance with the relevant sections of the Nevada Revised
Statutes. The Company will file a notice regarding the Certificate of Change with The Financial Information Regulatory
Association, Inc. (“FINRA”). The Certificate of Change will not become effective until approved by FINRA. The Company will file an
updated announcement upon FINRA acceptance and approval of the Certificate of Change.
As a result of the reverse stock split, every ten shares of the Company’s pre-reverse split common stock will be
combined and reclassified into one share of common stock. Proportionate voting rights and other rights of common stock holders will
not be affected by the reverse stock split. No fractional shares will be issued in connection with the reverse stock split and
stockholders who would otherwise hold a fractional share of common stock will be rounded up to a full share. After giving effect to
the reverse split, there will be approximately 15.8 million shares of common stock outstanding and no shares of Series A Preferred
Stock outstanding. The number of outstanding stock options will also be adjusted by the same ratio used for the common stock
reverse split.
“This decision to effect a reverse stock split has been made in consultation with investors, advisors and our
Board of Directors, and we believe the expected increase in share price will enable us to move toward achieving increased trading
liquidity for our stock,” said Bob Ferris, Chairman and CEO of VirTra. “In addition to our ongoing investments in human
capital, infrastructure and R&D, we have been and will continue to implement changes in the area of financial reporting and
corporate governance that will better prepare us to eventually obtain a listing on a national stock exchange.”
VirTra’s transfer agent and registrar, Continental Stock and Transfer & Trust Company, will act as the exchange
agent for the reverse stock split. Registered stockholders holding pre-split shares of the company's common stock electronically in
book-entry form are not required to take any action to receive post-split shares. Stockholders owning shares via a broker or other
nominee will have their positions automatically adjusted to reflect the reverse stock split, subject to each brokers' particular
processes, and will not be required to take any action in connection with the reverse stock split. Stockholders should direct any
questions concerning the reverse stock split to their broker or VirTra’s transfer agent and registrar, Continental Stock and
Transfer & Trust Company, (212) 509-4000.
About VirTra
VirTra is a global leading provider of the world's most realistic and effective judgmental use of force
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.
www.VirTra.com
Forward-looking Statements
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, 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.
Investor Relations Counsel Larry Clark Financial Profiles, Inc. (310) 622-8223 vtsi@finprofiles.com
