VirTra Awarded $5.0 Million Department of Homeland Security IDIQ Contract for Customs and Border Protection
September 23 2019 - 8:00AM
VirTra, Inc. (NASDAQ: VTSI), a global
provider of training simulators for the law enforcement, military,
educational and commercial markets, has received a new five-year,
single awardee indefinite delivery/indefinite quantity (IDIQ)
contract from U.S. Department of Homeland Security for U.S. Customs
and Border Protection with a potential value of up to $5.0 million.
In addition to receiving the IDIQ contract, VirTra has also
received an initial delivery order under this contract from Customs
and Border Protection for simulation training products and services
valued at $799,000. VirTra anticipates recognizing revenues from
this initial order within the next year.
“This new IDIQ contract with Customs and Border Protection is
indicative of the additive value we are able to generate with
long-standing customers,” said Jason Mulcahy, General Manager of
VirTra. “It ensures that CBP has the necessary resources in place
to continue utilizing our industry-leading solutions and provides
us with an opportunity to further develop this relationship by
exploring additional means of assisting the agency in its primary
mission of preserving the security of our borders, airports and
ports of entry.”
About VirTra VirTra (NASDAQ: VTSI) is a global
provider of judgmental use of force training simulators, firearms
training simulators and driving 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 practical
and highly-effective virtual reality and simulator technology.
Learn more about the company at www.VirTra.com.
About U.S. Customs & Border Protection With
more than 60,000 employees, U.S. Customs and Border Protection,
CBP, 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.
As the United States’ first unified border entity, CBP takes a
comprehensive approach to border management and control, combining
customs, immigration, border security, and agricultural protection
into one coordinated and supportive activity.
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 Contact: Matt Glover or
Charlie Schumacher VTSI@gatewayir.com 949-574-3860
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