VirTra Systems Reaches an Amicable Settlement with Dutchess Private Equities Fund

TEMPE, Ariz.--(BUSINESS WIRE)--Bob Ferris, VirTra Systems' president (Pink Sheets:VTSI), today announced that on September 30^th of this year, VirTra Systems reached an agreeable debt-resolution arrangement with Dutchess Private Equities Fund.

“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.”

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.

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