TEMPE, AZ--(Marketwire - May 3, 2011) - VirTra Systems, Inc. (
In order to pass, Proposition One needed a two-thirds majority support of all outstanding shares, requiring 105,604,939 votes for the reverse split. Currently shareholders are voting 95,033,702 shares for and 39,577,109 shares against, falling approximately 6.6% short of passing.
"It was more difficult than expected to obtain votes from shareholders with approximately 23,385,084 shares not returning a vote. Of the shareholders who did vote, the vast majority was supportive of the proxy. Regardless of this outcome, VirTra will continue to focus our energies on further building a successful enterprise and increasing shareholder value. To that end, management still plans to engage an auditing firm to certify its 2010 and 2011 financials and eventually register with the U.S Securities and Exchange Commission in an effort to uplist to a higher exchange," said Bob Ferris, VirTra's CEO.
About VirTra Systems
VirTra Systems, Inc. offers the world's most realistic