VirTra Announces Voting Results of Annual Stockholders Meeting

TEMPE, Ariz., Oct. 07, 2016 (GLOBE NEWSWIRE) -- VirTra, Inc. (OTC Pink:VTSI), a leading provider of use of force simulators and firearms training simulators, today announced the voting results of its Annual Meeting of Stockholders held on September 16, 2016 (the “Annual Meeting”). At the Annual Meeting, stockholders voted on the following proposals and cast their votes as described below.

Proposal No 1. Approval of a Plan of Conversion in order to effectuate the Redomestication from Texas to Nevada (the “Redomestication Plan of Conversion”). The stockholders approved the Redomestication Plan of Conversion as described in the Company’s proxy materials subject to a revision to the proposal adopted at the Annual Meeting whereby the stated par value of the common and preferred shares of the Company was changed from $0.005 per share to $0.0001 per share.

Class of StockForAgainstAbstainBroker Non-Vote
Common Stock70,579,325 1,855,190 355,750 62,448,154
Series A Preferred 300,000,000 0 0 0
Total Votes370,579,325 1,855,190 355,750 62,448,154

Proposal No. 2. Election of Directors. The stockholders elected all of the Board’s nominees for director, to serve until the Company’s next annual meeting of stockholders or until their respective successors are duly elected and qualified.

Director NameForWithholdBroker Non-Vote
Robert Ferris72,386,255 403,910 62,448,154
Mathew Burlend 71,976,135 814,130 62,448,154
Jeffrey Brown66,876,135 5,914,130 62,448,154

Proposal No 3. Ratification of Appointment of Independent Registered Public Accounting Firm. The stockholders ratified the appointment of Friedman, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2016.

Class of StockForAgainstAbstain
Common Stock133,217,975 1,671,330 349,114
Series A Preferred 300,000,000 0 0
Total Votes433,217,975 1,671,330 349,114

FINRA Notification Approval

The Company received notice from the Financial Industry Regulatory Authority (“FINRA”) that its request to change its domicile from Texas to Nevada and change its name from VirTra Systems, Inc. to VirTra, Inc., that were part of the Redomestication Plan of Conversion, have been approved and are effective on October 7, 2016. The Company’s trading symbol will remain “VTSI”.

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 made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. 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

Source:VirTra Systems, Inc.