Track Group, Inc. Files 8-K for Material Definitive Agreement

TL;DR

Track Group (TRK) filed an 8-K on 3/11 for a material definitive agreement.

AI Summary

Track Group, Inc. announced on March 11, 2024, that it entered into a material definitive agreement. The company, formerly known as SecureAlert, Inc., is incorporated in Delaware and headquartered in Naperville, Illinois. This filing is a current report under the Securities Exchange Act of 1934.

Why It Matters

This filing indicates a significant business event for Track Group, Inc., potentially impacting its operations, financial standing, or strategic direction.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new risks or alter existing ones for a company, depending on the nature of the agreement.

Key Players & Entities

• Track Group, Inc. (company) — Registrant
• SecureAlert, Inc. (company) — Former company name
• March 11, 2024 (date) — Date of earliest event reported
• 200 E 5th Ave, Suite 100, Naperville, Illinois 60563 (address) — Business address

FAQ

Filing Documents

• trkg20240315_8k.htm (8-K) — 25KB
• ex_640086.htm (EX-10.1) — 430KB
• ex_640087.htm (EX-99.1) — 7KB
• 0001437749-24-008077.txt ( ) — 641KB
• trck-20240311.xsd (EX-101.SCH) — 3KB
• trck-20240311_def.xml (EX-101.DEF) — 10KB
• trck-20240311_lab.xml (EX-101.LAB) — 14KB
• trck-20240311_pre.xml (EX-101.PRE) — 10KB
• trkg20240315_8k_htm.xml (XML) — 2KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. Effective March 11, 2024, Track Group, Inc. (the " Company ") entered into a new multi-year Sales, Licensing, Maintenance, and Services Agreement (the " Agreement ") with Marion County Community Corrections Agency, by and through the Marion County Community Corrections Board (collectively, " Marion County "), pursuant to which the Company shall continue to 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 which shall be determined based 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, a copy of which is attached hereto as Exhibit 10.1.

01 Other Events

Item 8.01 Other Events. On March 15, 2024, the Company issued a press release announcing the consummation of the foregoing agreement with Marion County. A copy of the press release is attached hereto as Exhibit 99.1.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1* Sales, Licensing, Maintenance, & Services Agreement by and between Marion County Community Corrections and Track Group, Inc. 99.1 Press Release dated, March 15, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * Certain portions of this exhibit (indicated by "[***]") have been omitted as the Company has determined (i) the omitted information is not material and (ii) the omitted information would likely cause harm to the Company if publicly disclosed.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. TRACK GROUP, INC. Date: March 15, 2024 By: /s/ Peter K. Poli Peter K. Poli Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR