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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001162327-05-000056.txt : 20050623
<SEC-HEADER>0001162327-05-000056.hdr.sgml : 20050623
<ACCEPTANCE-DATETIME>20050623105719
ACCESSION NUMBER:		0001162327-05-000056
CONFORMED SUBMISSION TYPE:	10KSB/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20041231
FILED AS OF DATE:		20050623
DATE AS OF CHANGE:		20050623

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VIRTRA SYSTEMS INC
		CENTRAL INDEX KEY:			0001085243
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-AMUSEMENT & RECREATION SERVICES [7900]
		IRS NUMBER:				931207631
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10KSB/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-28381
		FILM NUMBER:		05911667

	BUSINESS ADDRESS:	
		STREET 1:		440 NORTH CENTER
		CITY:			ARLINGTON
		STATE:			TX
		ZIP:			76011
		BUSINESS PHONE:		8172650440

	MAIL ADDRESS:	
		STREET 1:		440 NORTH CENTER
		CITY:			ARLINGTON
		STATE:			TX
		ZIP:			76011

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GAMECOM INC
		DATE OF NAME CHANGE:	19991103
</SEC-HEADER>
<DOCUMENT>
<TYPE>10KSB/A
<SEQUENCE>1
<FILENAME>vtsi200410kamendment.htm
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
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<HEAD>
<TITLE>GAMECOM INC</TITLE>
<META NAME="author" CONTENT="kbiggs">
<META NAME="date" CONTENT="06/22/2005">
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<BODY style="font-size:10pt; color:#000000">
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center>UNITED STATES SECURITIES AND EXCHANGE COMMISSION</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center>Washington, D.C. 20549</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman; font-size:12pt" align=center>AMENDMENT NO. 1</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman; font-size:12pt" align=center>TO</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:7pt; width:540pt; font-family:Times New Roman; font-size:14pt" align=center>FORM 10-KSB</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:5pt; width:540pt; font-family:Times New Roman">|X| &nbsp;ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 </P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:5pt; width:540pt; font-family:Times New Roman">For the Fiscal Year Ended December 31, 2004</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:5pt; width:540pt; font-family:Times New Roman" align=center>or</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:5pt; width:540pt; font-family:Times New Roman">|_| &nbsp;&nbsp;TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:5pt; width:540pt; font-family:Times New Roman" align=center>For the transition period from _____________ to _____________</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:5pt; width:540pt; font-family:Times New Roman" align=center>Commission File Number 000-28381</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman; font-size:16pt" align=center>VIRTRA SYSTEMS, INC.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman; font-size:9pt" align=center>(Exact name of Registrant as specified in its Charter)</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center><BR></P>
<TABLE style="margin-right:72pt; font-size:10pt" cellspacing=0 align=center><TR><TD valign=top width=314.133><P style="margin:0pt; font-family:Times New Roman" align=center>Texas</P>
</TD><TD valign=top width=315.133><P style="margin:0pt; font-family:Times New Roman" align=center>93-1207631</P>
</TD></TR>
<TR><TD valign=top width=314.133><P style="margin:0pt; font-family:Times New Roman; font-size:9pt" align=center>(State or other jurisdiction of incorporation or organization)</P>
</TD><TD valign=top width=315.133><P style="margin:0pt; font-family:Times New Roman; font-size:9pt" align=center>(IRS Employer Identification No.)</P>
</TD></TR>
</TABLE>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman; font-size:8.5pt"><BR></P>
<TABLE style="margin-right:72pt; font-size:10pt" cellspacing=0><TR><TD valign=top width=319.2><P style="margin:0pt; font-family:Times New Roman" align=center>440 North Center, Arlington, TX</P>
</TD><TD valign=top width=319.2><P style="margin:0pt; font-family:Times New Roman" align=center>76011</P>
</TD></TR>
<TR><TD valign=top width=319.2><P style="margin:0pt; font-family:Times New Roman; font-size:9pt" align=center>(Address of principal executive offices)</P>
</TD><TD valign=top width=319.2><P style="margin:0pt; font-family:Times New Roman; font-size:9pt" align=center>(Zip Code)</P>
</TD></TR>
</TABLE>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center>(817) 261-4269</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman; font-size:9pt" align=center>(Registrant's telephone number, including area code)</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman; font-size:9pt"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:5pt; width:540pt; font-family:Times New Roman">SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934: </P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center>None</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:5pt; width:540pt; font-family:Times New Roman">SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934:</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:5pt; width:540pt; font-family:Times New Roman">Common Stock, par value $.005 per share</P>
<P style="margin-top:5pt; margin-right:72pt; margin-bottom:5pt; width:540pt; font-family:Times New Roman">Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein and will not be contained, to the best of Registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. &nbsp;YES |_| NO |X|</P>
<P style="margin-top:5pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">Indicate by check mark whether Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. </P>
<P style="margin-top:5pt; margin-right:72pt; margin-bottom:5pt; width:540pt; font-family:Times New Roman">YES |X| NO |_| </P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">The aggregate market value of the voting stock held by non-affiliates of Registrant at March 1, 2005 was approximately $15,500,272. The number of shares of Registrant's common stock outstanding on March 1, 2005 was 60,859,064<FONT COLOR=#0000FF>. </FONT>Revenue for the most recent fiscal year was $1,328,180.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center><BR>
<BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center><BR>
<BR></P>
<HR style="padding-top:7.2pt; padding-bottom:7.2pt" noshade size=1.333>
<P style="page-break-before:always; margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center><BR></P>
<A NAME="node2"></A><P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">The registrant amends Item 7 of its Annual Report on Form 10-KSB to substitute the following Report of Independent Registered Public Accounting Firm for that appearing in the original filing.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center><B>VIRTRA SYSTEMS, INC.</B></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center><B><U>Report of Independent Registered Public Accounting Firm</U></B></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">To the Board of Directors and Stockholders ofVirTra Systems, Inc.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">We have audited the accompanying balance sheet of VirTra Systems, Inc. (the &#147;Company&#148;) as of December 31, 2004, and the related statements of operations, stockholders&#146; deficit and cash flows for the years ended December 31, 2004 and 2003. &nbsp;These financial statements are the responsibility of the Company&#146;s management. &nbsp;Our responsibility is to express an opinion on these financial statements based on our audits.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">We conducted our audits in accordance with standards of the Public Company Accounting Oversight Board (United States). &nbsp;Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. &nbsp;An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. &nbsp;An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. &nbsp;We believe that our audits provide a reasonable basis for our opinion.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of VirTra Systems, Inc. as of December 31, 2004, and the results of its operations and its cash flows for the years ended December 31, 2004 and 2003 in conformity with accounting principles generally accepted in the United States of America.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">The accompanying financial statements have been prepared assuming the Company will continue as a going concern. &nbsp;As discussed in Note 2 to the financial statements, the Company has suffered recurring losses from operations and at December 31, 2004 is in a negative working capital position and a stockholders&#146; deficit position. &nbsp;These factors raise substantial doubt about the Company&#146;s ability to continue as a going concern. &nbsp;Management&#146;s plans in regard to these matters are also described in Note 2. &nbsp;The financial statements do not include any adjustments that might result from the outcome of this uncertainty.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">As discussed in Note 3 to the financial statements, in 2004 the Company changed its method of accounting for variable interest entities.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">/s/ Ham, Langston &amp; Brezina, LLP</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">Houston, Texas</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">March 15, 2005</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">&nbsp;</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman; font-size:8.5pt"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center><B><U>Signatures</U></B></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">Pursuant to the requirements of Section 13 or 15(d) of the Securities Act of 1934, the registrant has duly caused this amendment to be signed on its behalf by the undersigned, thereunto duly authorized.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman; font-size:8.5pt"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:252pt; width:288pt; font-family:Times New Roman">VIRTRA SYSTEMS, INC.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:252pt; width:288pt; font-family:Times New Roman">(Registrant)</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:252pt; width:288pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:252pt; width:288pt; font-family:Times New Roman">By: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/ L. Kelly Jones&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:252pt; width:288pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;L. Kelly Jones, chief executive officer</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">Dated: June 23, 2005</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Act of 1934, this amendment has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR>
<BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center>2</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<HR style="padding-top:7.2pt; padding-bottom:7.2pt" noshade size=1.333>
<P style="page-break-before:always; margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<TABLE style="margin-right:72pt; font-size:10pt" cellspacing=0><TR><TD valign=bottom width=183.2><P style="margin:0pt; font-family:Times New Roman"><U>Signature</U></P>
</TD><TD valign=bottom width=345.733><P style="margin:0pt; font-family:Times New Roman"><U>Title</U></P>
</TD><TD valign=bottom width=88.867><P style="margin:0pt; font-family:Times New Roman"><U>Date</U></P>
</TD></TR>
<TR><TD valign=bottom width=183.2><P style="margin:0pt; font-family:Times New Roman"><BR></P>
<P style="margin:0pt; font-family:Times New Roman"><U><BR></U></P>
<P style="margin:0pt; font-family:Times New Roman"><U>/s/ L. Kelly Jones&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
</TD><TD valign=bottom width=345.733><P style="margin:0pt; font-family:Times New Roman">chief executive officer, chief financial officer, and director</P>
</TD><TD valign=bottom width=88.867><P style="margin:0pt; font-family:Times New Roman">June 23, 2005</P>
</TD></TR>
<TR><TD valign=bottom width=183.2><P style="margin:0pt; font-family:Times New Roman">L. Kelly Jones</P>
</TD><TD valign=bottom width=345.733>&nbsp;</TD><TD valign=bottom width=88.867>&nbsp;</TD></TR>
<TR><TD valign=bottom width=183.2><P style="margin:0pt; font-family:Times New Roman"><BR></P>
<P style="margin:0pt; font-family:Times New Roman"><U><BR></U></P>
<P style="margin:0pt; font-family:Times New Roman"><U>/s/ Bob Ferris&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
</TD><TD valign=bottom width=345.733><P style="margin:0pt; font-family:Times New Roman">president and director</P>
</TD><TD valign=bottom width=88.867><P style="margin:0pt; font-family:Times New Roman">June 23, 2005</P>
</TD></TR>
<TR><TD valign=bottom width=183.2><P style="margin:0pt; font-family:Times New Roman">Bob Ferris</P>
</TD><TD valign=bottom width=345.733>&nbsp;</TD><TD valign=bottom width=88.867>&nbsp;</TD></TR>
<TR><TD valign=bottom width=183.2>&nbsp;</TD><TD valign=bottom width=345.733>&nbsp;</TD><TD valign=bottom width=88.867>&nbsp;</TD></TR>
<TR><TD valign=bottom width=183.2><P style="margin:0pt; font-family:Times New Roman"><BR></P>
<P style="margin:0pt; font-family:Times New Roman"><U><BR></U></P>
<P style="margin:0pt; font-family:Times New Roman"><U>/s/ L. Andrew Wells&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
</TD><TD valign=bottom width=345.733><P style="margin:0pt; font-family:Times New Roman">director</P>
</TD><TD valign=bottom width=88.867><P style="margin:0pt; font-family:Times New Roman">June 23, 2005</P>
</TD></TR>
<TR><TD valign=bottom width=183.2><P style="margin:0pt; font-family:Times New Roman">Andrew Wells</P>
</TD><TD valign=bottom width=345.733>&nbsp;</TD><TD valign=bottom width=88.867>&nbsp;</TD></TR>
</TABLE>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">&nbsp;</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
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<BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center>3</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
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