TRACK GROUP, INC. (OTCMKTS:TRCK) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement.
On January 18, 2018,Track Group, Inc. (the “Company”) entered into a Monitoring Services Agreement (the “Agreement”) with Gendarmeria de Chile, the Republic of Chile’s uniform prison service (“Gendarmeria”), for services the Company began offering to Gendarmeria in October 2017. The Company currently providesGendarmeria with GPS monitoring devices, certain services, and software to be used for offenders ordered into acorrections program by the Chilean courts. In exchange for the products and services provided by the Company, Gendarmeria shall make monthly payments, the sum of whichshall be determinedbased on installation fees and the duration of use of individual units of equipment. to its terms, the Agreement will expire in October 2018.
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 announcing the consummation of the foregoing agreement with Gendarmeria. 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-99 2 ex99-01252018_020108.htm Secconnect.com Gendarmeria de Chile Signs New Electronic Monitoring Contract With Track Group NAPERVILLE,…To view the full exhibit click here
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.
