TRACK GROUP, INC. (OTCMKTS:TRCK) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement.
Effective January 1, 2018,Track Group, Inc. (the “Company”) entered into a multi-year Monitoring Services Agreement (the “Agreement”) with Marion County Community Corrections Agency, by and through the Marion County Community Corrections Board (collectively, “Marion County”), to which the Company shall provide Marion County with GPS and alcohol monitoring equipment, certain services, and software to be used for offenders ordered into the Marion County Community Corrections program by the courts. In exchange for the products and services provided by the Company, Marion County shall make periodic payments, the sum of whichshall be determinedbased on the duration of use of individual units of equipment.
The foregoing description of the Agreement does not purport to be complete, and is qualified in its entirety by reference to such Agreement, which shall be filed as an exhibit to the Company’s next periodic report filed under the Securities and Exchange Act of 1934, as amended.
Item 8.01 Other Events.
Today, the Company issued a press release announcingthe consummation of the foregoing agreement with Marion County. A copy of the press release is attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
See Exhibit Index.
Track Group, Inc. ExhibitEX-10 2 ex10-01162018_020125.htm ex10-01162018_020125.htm Track Group Awarded Marion County Community Corrections Monitoring Contract NAPERVILLE,…To view the full exhibit click
About TRACK GROUP, INC. (OTCMKTS:TRCK)
Track Group, Inc. is engaged in manufacturing and leasing of tracking and monitoring solutions to federal, state and local law enforcement agencies, both in the United States and abroad, for the electronic monitoring of offenders and offering data analytics services on a platform-as-a-service (PaaS) business model. The Company deploys offender-based management services that combine global positioning system (GPS) tracking technologies, fulltime around the clock global monitoring capabilities, case management and data analytics. In addition, the Company offers customizable tracking solutions that leverage real-time tracking data, monitoring and analytics capabilities to create end-to-end tracking solutions. The Company’s products and services include devices, operating system software, application software and accessories. Its offerings include ReliAlert XC3, Shadow, TrackerPAL, BACtrack and TrackerPAL Mobile.