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Track Group Appoints Karen Macleod to Its Board of Directors

By | News

SALT LAKE CITY, January 5, 2016

Track Group, Inc. (OTCQX: TRCK), a global tracking solutions company, today announced the appointment of Karen Macleod, former President of Tatum LLC, a New York-based professional services firm owned by global talent leader, Randstad, to the company’s Board of Directors effective immediately.

“We are pleased to welcome Ms. Macleod to our Board and look forward to benefiting from her extensive knowledge and experience,” said Guy Dubois, Chairman and CEO of Track Group. ” Ms. Macleod’s background and insight will prove invaluable to Track Group as we continue to position the company for future growth and success.”

“This is a very exciting time for Track Group,” said Macleod. “I am honored to join the Board and look forward to working with the other directors to build on Track Group’s positive momentum.”

Prior to her time with Tatum, Ms. Macleod was a co-founder of RGP, a publicly traded, multinational professional services firm founded as a division of Deloitte in June 1996. Ms. Macleod served in several positions for RGP, including as a director from 1999-2009 and President, North America from 2004-2009. Prior to RGP, Ms. Macleod held several positions in the audit department of Deloitte between 1985-1994.

For more information, please contact:

Steve Hamilton, Chief Marketing Officer
877-260-2010
steve.hamilton@trackgrp.com

John Merrill, Chief Financial Officer
866-451-6141
john.merrill@trackgrp.com

Track Group, Inc. Reports Fiscal 2015 Results

By | Annual Reports, News

SALT LAKE CITY, Dec. 14, 2015

Track Group, Inc. (OTCQX: TRCK), a cloud-based end-to-end B2B and B2G tracking solutions company that combines real-time proprietary tracking devices, monitoring services in combination with advanced data analytics for the global offender management market, announces results for its fiscal year ended September 30, 2015, and provides Management’s plans, goals and outlook for 2016 and beyond.

Financial Highlights:

  • Total net revenues grew 70% for fiscal 2015 – “Given our expansion in Chile, organic growth in our legacy operations in the Americas including those of our recently acquired companies, we achieved record revenue growth in fiscal 2015,” said Guy Dubois, Track Group’s Chairman and acting CEO.
  • Gross profit grew to 60% in fiscal 2015 – “Led by higher overall sales activities in the Americas, outsourcing of our supply chain operation, lower device costs, and software automation, we are confident that gross profit will continue to accelerate in 2016 and beyond,” stated Mr. Dubois.
  • Tag subscriptions grew from 6,400 units in 2014 to over 10,000 in 2015 – “Our 56% growth in tag subscriptions is strong evidence that combined with a suite of competitive services and a superior sales staff, we can provide an effective alternative to incarceration solution at an affordable price,” said Mr. Cassell, Divisional President Americas. He continued “For 2016 we see a continued acceleration of our tag subscription numbers.”
  • EPS loss of (0.56) for 2015 compared to (0.88) for 2014, a 36% improvement. “In 2014 and 2015 we heavily invested in our global business to transform from a device centric distinct basket of products to a cloud based Platform-As-A-Service solution (“PaaS”) that combines a device agnostic real-time GPS collection appliance (“Tag”), 24/7/365 monitoring, mobile applications, and exceptional predictive data analytics,” said Mr. Dubois.
  • Adjusted EBITDA of $1.23M in 2015 compared to ($2.05M) loss in 2014. “Given our significant investments in 2014 and 2015, we experienced a large amount of non-cash and one-time charges in connection with integrating those companies we acquired,” said John Merrill, Chief Financial Officer. On a GAAP basis, we had a net loss of $5.569M for 2015 compared to a net loss of $8.762M for the same period in 2014. Mr. Merrill continued, “We believe that Adjusted EBITDA is a better reflection of our performance such that it gives the investor a more complete picture of performance through the eyes of management and the relevant impacts on cash as a PaaS business.”

Fiscal 2015 GAAP Results: For the fiscal year ended September 30, 2015, the company reported net revenues of $20.793M compared to net revenues of $12.262M for the same period in 2014, an increase of 70%. During the fiscal year ended September 30, 2015, gross profit totaled $12.511M, resulting in a 60% gross margin, compared to $6.763M, or a 55% gross margin during the same period in 2014, an increase of $5.748M. The increase in gross profit and margin was due to (i) higher overall revenues due to sales activity in Chile; (ii) growth of revenues generated by legacy operations and acquired subsidiaries; and (iii) lower incremental cost due to more efficient supply channels, outsourcing, and software automation. Total operating expenses for 2015 were $20.736M, a 43% increase from $14.511M in 2014. The increase in operating expense was the result of increased activity generated by our Chilean operation, higher non-cash costs of depreciation, amortization, stock compensation expense, and activities generated by company’s we acquired during 2014 and 2015. Net loss for 2015 totaled $5.669M or ($0.56) per common share, compared to a net loss of $8.762M or ($0.88) per common share for the same period in 2014. On an adjusted basis, the company reported EBITDA of $1.225M for 2015 compared to a loss of ($2.045M) for the same period in 2014 thus generating an Adjusted EBITDA margin of 5.9% versus a loss of 16.7% the previous year.

Strategy and Outlook:

Over the last 12 months, the company has transformed itself into a service business. Although the company still manufactures monitoring devices, we see the physical goods as a smaller part of the “integrated justice solutions” going forward. We believe our ability to offer analytics under a PaaS model gives us a unique selling proposition and competitive advantage. Rather than receiving a steady stream of ongoing revenue, just for a piece of manufactured equipment, more of our ongoing revenue will be derived from device agnostic subscription contracts that should help make the administration of justice better, faster, and less expensive for taxpayers. This not only may accelerate our continued revenue growth, it will be done at a lower cost per revenue dollar; resulting in higher margins and improved operating cash flows.

Furthermore, the company will explore and may execute selected M&A transactions in the future to accelerate growth opportunities globally. As we have shown over the past 24 months, the company was able to attract funding at favorable terms and we remain optimistic that this will continue going forward. In addition, the company is pursuing up listing of its stock to a regulated exchange. Once completed, it should provide additional sources of funding, and focused IR activities should over time bring more liquidity to our shares. Our senior management is well incentivized to deliver on these goals through a long term equity incentive plan which aligns the creation of shareholder value.

Based on our current organic performance, our outlook for 2016 and 2017 is as follows:

Actual Outlook
2014 2015 2016 2017
Net Revenue (USD$) $ 12.3 M $ 20.8 M $ 28 – 31 M $ 42 – 47 M
Adjusted EBITDA Margin (%) -16.70% 5.90% 15-20% 25-30%

Non-GAAP Financial Measures

This press release includes financial measures defined as “non-GAAP financial measures” by the Securities and Exchange Commission including non-GAAP EBITDA and non-GAAP EPS. These measures may be different from non-GAAP financial measures used by other companies. The presentation of this financial information, which is not prepared under any comprehensive set of accounting rules or principles, is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with generally accepted accounting principles. Reconciliations of these non-GAAP financial measures, on an annual basis, are provided utilizing audited financial figures for the respective periods.

Non-GAAP Adjusted EBITDA excludes items included but not limited to taxes, dividends, depreciation, amortization, impairment charges, charges to consolidate, integrate or consider recently acquired businesses, costs of closing facilities, non-cash stock based compensation and other stated one-time cash and non-cash charges (“the Adjustments”). Non-GAAP EPS excludes the Adjustments when considering net income or loss attributable to common shareholders.

The company believes the non-GAAP measures provide useful information to both management and investors by excluding certain cash and non-cash expenses, gains and losses, one time charges or benefits, and acquisition charges which may not be indicative of its core operation results and business outlook. Specific disclosure relating to acquisitions including management’s analysis of results from operations and financial condition, are contained in the company’s annual report on Form 10-K for the year ended September 30 2015 and other reports filed with the Securities and Exchange Commission. Investors are encouraged to carefully read and consider such disclosure and analysis contained in the company’s Form 10-K and other reports, including the risk factors contained in such Form 10-K.

About Track Group, Inc.

Track Group develops, manufactures, and provides tracking solutions that combine real-time GPS tracking devices and 24/7/365 monitoring services with advanced data analytics for the global offender management market which includes corrections, military and law enforcement. For more information, visit www.trackgrp.com.

Forward-Looking Statement

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “if”, “should” and “will” and similar expressions as they relate to Track Group, Inc. & subsidiaries (“Track Group”) are intended to identify such forward-looking statements. These statements are only predictions and reflect Track Group’s current beliefs and expectations with respect to future events and are based on assumptions and subject to risks and uncertainties and subject to change at any time. Track Group may from time to time update these publicly announced projections, but it is not obligated to do so. Any projections of future results of operations should not be construed in any manner as a guarantee that such results will in fact occur. These projections are subject to change and could differ materially from final reported results. For a discussion of such risks and uncertainties, see “Risk Factors” in Track Group’s annual report on Form 10-K, its quarterly report on Form 10-Q, and its other reports filed with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended. New risks emerge from time to time. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.

Track Group, Inc. Reports Q1-FY2016 Quarterly Results

By | News, Quarterly Reports

SALT LAKE CITY, February 9, 2016 – Track Group Inc. (OTCQX: TRCK), an end-to-end, cloud-based, tracking solutions company in the global offender management market that combines proprietary tracking devices, real-time monitoring services and advanced data analytics, sold on a platform-as-a-services (PaaS) basis, today announced results for its fiscal 2016 first quarter ended December 31, 2015 and reaffirms its outlook.

  • Revenue Increases 37%
  • Adjusted EBITDA margin improves
  • Cash burn from operations decreases 82%
  • Reaffirms FY2016-2017 Outlook

Company Highlights:

  • Virginia Dept. of Corrections – On October 1, 2015, the Company executed an agreement with the Virginia Department of Corrections to provide solutions based on GPS and biometric voice verification technology designed to monitor over 16,000 offenders and defendants. The term of the Agreement is six years, with a two-year minimum and is valued at approximately $11MUSD.
  • Data Analytics for Corrections – During the first quarter of fiscal 2016, the Company expanded deployment of its proprietary data analytics service in Detroit, Indianapolis and Philadelphia. These service programs are designed to automate the process of examining location data, uncover hidden correlations, and provide a “pattern-of-life,” so law enforcement and corrections officers have actionable real-time information to enhance decision-making capabilities.

Financial Highlights:

  • Total revenue increases 37% – Net revenues increased 37% in the first quarter of fiscal 2016 when compared to the same period in 2015. Increases in revenue for the quarter were the result of growth of monitoring devices in the Americas, and to a lesser extent analytics and other services. “I am pleased with our continued growth and momentum and our current run rate is aligned with our full year revenue outlook,” said Guy Dubois, Track Group’s Chairman.
  • Gross profit margin increases to 62% – “We anticipate cost of revenues, as a percentage of total revenue, will continue to decline in fiscal 2016,” stated John Merrill, Chief Financial Officer. He continued, “Supply chain outsourcing, a lower daily cost per device, automation, and higher margin analytic services will reflect in a lower cost of revenues hence driving higher gross profit.”
  • Operating expense increases 26% – The 26% increase in operating expense in the first quarter of fiscal 2016 when compared to the same period in 2015 were largely the result of an increase in non-cash expenses such as stock compensation and depreciation. Other increases were higher payroll costs including benefits and engineering cost. “As a growth company, we must attract and retain the very best people in order to accelerate the onboarding process and continue to deliver impeccable service to our customers. We remain committed to investing in technology and infrastructure to deliver the best suite of tracking solutions at the right price,” said Mr. Dubois.
  • Net loss improves 4%. Net loss for Q1-FY2016 was $2.127M or ($0.21) per share, when compared to a net loss of $2.215M or ($0.22) per share for the same period in 2015, a 4% improvement.
  • Cash burn from operations drops 82% – The Company used $3.5M less cash in the first quarter of 2016 than in the same period 2015. Net decreases in cash was ($2.4M) for first quarter of 2016 when compared to ($5.9M) in the same period in 2015. Cash used in operations decreased to less than ($0.50M) in the first quarter of 2016 from ($2.5M) in the same quarter 2015, an 82% improvement. “We are billing more subscription revenues and collecting sooner,” said Mr. Merrill.
  • Adjusted EBITDA increases to $0.336M. The Company’s adjusted EBITDA for Q1-FY16 increased to $0.336M or 5.3% of total revenue from a loss of ($0.394M) or (8.5%) for the same period in 2015. “We are a growth stage technology Company that recognizes a significant amount of non-cash expense, including depreciation and amortization on $31M of capital assets. We believe that adjusted EBITDA is a more complete picture of performance, used in conjunction with GAAP, and its impacts on cash,” said Mr. Merrill.

Fiscal Q1-2016 vs Fiscal Q1-2015 GAAP Results: For the quarter ended December 31, 2015, the Company reported net revenues of $6.3M compared to net revenues of $4.6M for the same period in 2014, an increase of 37%. During the quarter ended December 31, 2015, gross profit totaled $3.9M, resulting in a 62% gross margin, compared to $2.6M, or a 56% gross margin during the same period in 2014, an increase of $1.3M. Total operating expense for the first quarter of fiscal 2016 was $5.28M compared to $4.20M in the same period in 2015, a 26% increase. Net loss for Q1-FY2016 was $2.13M or ($0.21) per share, when compared to a $2.22M or ($0.22) per share for the same period in 2015, a 4% improvement. On an adjusted basis, the Company reported EBITDA of $0.336M or 5.3% net margin for the first quarter of 2016 compared to ($0.394M) or (8.5%) for the same period in 2015.

Company Reaffirms Outlook:

Actual Outlook
Q1-FY2016 Q1-FY2015 FY2016 FY2017
Net Revenue (USD$) $6.318M $4.621M $28-31M $42-47M
Adjusted EBITDA Margin (%) 5.3% (8.5%) 15-20% 25-30%

Non-GAAP Financial Measures
This press release includes financial measures defined as “non-GAAP financial measures” by the Securities and Exchange Commission including non-GAAP EBITDA. These measures may be different from non-GAAP financial measures used by other companies. The presentation of this financial information, which is not prepared under any comprehensive set of accounting rules or principles, is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with generally accepted accounting principles. Reconciliations of these non-GAAP financial measures are based on the financial figures for the respective period.

Non-GAAP Adjusted EBITDA excludes items included but not limited to interest, taxes, depreciation, amortization, impairment charges, dividends, gains and losses, one time charges or benefits that are not indicative of operations, charges to consolidate, integrate or consider recently acquired businesses, costs of closing facilities, stock based compensation or other stated cash and non-cash charges (the “Adjustments”).

The Company believes the non-GAAP measures provide useful information to both management and investors when factoring in the Adjustments. Specific disclosure regarding the Company’s financial results, including management’s analysis of results from operations and financial condition, are contained in the Company’s quarterly report on Form 10-Q for the quarter ended December 31, 2015, and other reports filed with the Securities and Exchange Commission. Investors are encouraged to carefully read and consider such disclosure and analysis contained in the Company’s Form 10-Q and other reports, including the risk factors contained in the Company’s annual report on Form 10-K for the year ended September 30, 2015.

Forward-Looking Statement
Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “if”, “should” and “will” and similar expressions as they relate to Track Group, Inc. & subsidiaries (“Track Group”) are intended to identify such forward-looking statements. These statements are only predictions and reflect Track Group’s current beliefs and expectations with respect to future events and are based on assumptions and subject to risks and uncertainties and subject to change at any time. Track Group may from time to time update these publicly announced projections, but it is not obligated to do so. Any projections of future results of operations should not be construed in any manner as a guarantee that such results will in fact occur. These projections are subject to change and could differ materially from final reported results. For a discussion of such risks and uncertainties, see “Risk Factors” in Track Group’s annual report on Form 10-K, its quarterly report on Form 10-Q, and its other reports filed with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended. New risks emerge from time to time. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.

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Virginia Department of Corrections Selects Track Group As Electronic Monitoring Partner

By | News

SALT LAKE CITY, October 6, 2015

Program Includes GPS Monitoring and Biometric Voice Verification For Over 16,000 Offenders.

Track Group announced today that it has signed a contract with the Virginia Department of Corrections to provide electronic monitoring services across the full range of sentences under the Department’s oversight.

“This is a significant win for us,” said Derek Cassell, Track Group’s President of the Americas. “This contract with the Virginia DOC will expand our footprint in the Eastern region of the US and advances our position as a trusted leader in offender electronic monitoring solutions.”

Under the contract, Track Group will provide solutions based on GPS and biometric voice verification technology designed to monitor over 16,000 offenders and defendants. According to Harold Clarke, Director of the Virginia DOC, “The result will provide increased safety for the community by improving the management of offenders, while enhancing rehabilitation outcomes.”

The contract term is six years with a minimum two-year period, plus four oneyear options to extend. The value of the contract is estimated at 11.3M USD. Additionally, this contract includes a cooperative purchasing clause that will allow other agencies to procure services without the need to go through a formal bid process.

About Track Group
Track Group offers a full continuum of tracking products and services that combine robust, real-time tracking devices and monitoring services with advanced data analytics for the global criminal justice marketplace.

For more information, please contact:
Steve Hamilton, Chief Marketing Officer – Track Group
877-260-2010
steve.hamilton@trackgrp.com

Track Group Completes Long-Term Debt Restructuring

By | News

SALT LAKE CITY, July 15, 2015

Track Group, Inc. (OTCQX: TRCK), a global tracking solutions company, announced today that it has restructured $28.0 million of its short-term debt, which is anticipated to substantially improve the Company’s free cash flow and financial condition.

The Company restructured and consolidated its existing current debt of $28.0 million USD with an amendment to the Company’s existing Facility Agreement with its lender, Conrent Invest through its compartment Safety II. The $30.4 million USD facility, effective June 30, 2015, will bear interest at an annual fixed rate of 8%, is unsecured, includes a no-cost voluntary prepayment option, and matures on July 31, 2018. Proceeds will be used to consolidate existing loans that mature over the next six to nine months, including fees and accrued interest through January 2016.

“The restructuring of our existing debt facility illustrates our lender’s confidence and commitment in our business model and strategic direction both domestically and internationally,” said John Merrill, Track Group Chief Financial Officer. “We took advantage of favorable terms to create a stronger capital structure improving liquidity and flexibility to support our priorities for cash flow; invest in our global platform-as-a-service business, fund acquisitions, and provide support for our continued growth momentum.”

About Track Group
Track Group develops and provides tracking solutions that combine real-time tracking devices and monitoring services with advanced data analytics for the global offender management market.

Cautionary Language Concerning Forward-Looking Statements:
Information set forth in this press release contains forward-looking statements that are subject to risks and uncertainties, and actual results might differ materially. A discussion of factors that may affect future results is contained in Track Group’s filings with the Securities and Exchange Commission. Track Group, Inc. disclaims any obligation to update and revise statements contained in this news release based on new information or otherwise.

The description of the debt restructuring in this press release does not purport to be a complete description. The statements in this press release are qualified in their entirety by reference to the description of the credit facility and the debt restructuring contained in a Current Report on Form 8-K filed with the Securities and Exchange Commission by Track Group, fka SecureAlert Inc., on July 15, 2015 and January 7, 2014.

Track Group Announces Upgrade to OTCQX®

By | News

SALT LAKE CITY, July 7, 2015

Track Group, Inc. (OTCQX: TRCK), a publicly traded, global tracking solutions company, announced today that it has qualified to trade on the OTCQX® Best Marketplace, the top tier of the U.S. off-exchange market operated by OTC Markets Group.

The OTCQX® marketplace is reserved for high-quality U.S. and international companies that meet high financial standards, provide timely news and disclosure to investors, and are sponsored by a professional third-party advisor. Investors can find more information at www.otcmarkets.com.

“Qualifying for the QX Premier offers us greater exposure, accessibility and liquidity from the investment community,”said John Merrill, Track Group’s Chief Financial Officer. “Considering the growth outlook and increasing investor interest in Track Group both foreign and domestic, trading on OTCQX is a natural evolution for the company in the U.S.”

U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for Track Group on www.otcmarkets.com.

About Track Group
Track Group develops and provides tracking solutions that combine real-time tracking devices and monitoring services with advanced data analytics for the global offender management market.

Learn more at www.trackgrp.com

Cautionary Language Concerning Forward-Looking Statements:
Information set forth in this press release contains forward-looking statements that are subject to risks and uncertainties, and actual results might differ materially. A discussion of factors that may affect future results is contained in Track Groups’ filings with the Securities and Exchange Commission. Track Group, Inc. disclaims any obligation to update and revise statements contained in this news release based on new information or otherwise.

For more information, please contact:
John Merrill, Chief Financial Officer, Track Group
866-451-6141
john.merrill@trackgrp.com

Steve Hamilton, Chief Marketing Officer, Track Group
877-260-2010
steve.hamilton@trackgrp.com

Track Group Receives FCC and PTCRB Certification for SHADOW™

By | News

SALT LAKE CITY, UTAH June 16, 2015

Track Group, Inc. (OTCQB: TRCK), announced today that the company’s breakthrough 3G tracking solution called SHADOW™ is fully certified for distribution and use in the US market. SHADOW™ received certification by both the Federal Communications Commission (FCC) and PTCRB (PCS-1900 Type Certification Review Board).

Driven by customer demand to improve the affordability and performance of electronic monitoring devices, SHADOW™ is the smallest and lightest device of its kind with a sleek, modern design featuring an enhanced mobile charging capability that makes it easier to use. The device is also 3G compliant and fully supported by all global mobility providers, which means it guarantees better coverage than 2G enabled devices.

SHADOW™ will work seamlessly with Track Group’s current software platform as well as its exclusive suite of data analytics applications. This allows customers to deploy the device with no additional training required.

“FCC and PTCRB certifications enable us to offer this technology domestically,”said Derek Cassell, Track Group’s Divisional President of the Americas. “And that means we can now offer our customers improved and more flexible technology and connectivity at reduced prices enabling public authorities to get more for their taxpayers’ money – in both relative and absolute terms”.

About Track Group
Track Group offers end-to-end geo-monitoring solutions that combine robust, real-time tracking devices with advanced data analytics. The current focus is delivering electronic monitoring products and services for the global criminal justice market.

For more information, please contact:
Steve Hamilton, Chief Marketing Officer – Track Group
877-260-2010
steve.hamilton@trackgrp.com

Track Group Announces Ticker Symbol Change to TRCK

By | News

SALT LAKE CITY, May 26, 2015 /PRNewswire/ — Track Group, Inc. (OTCQB: TRCK), formerly SecureAlert, Inc. (OTCQB: SCRA), a publicly traded, global tracking solutions company, announced today that the company is trading under the new symbol, “TRCK”, effective May 26, 2015. The change follows the Financial Industry Regulatory Authority’s (“FINRA”) recognition of the company’s official name change, as disclosed in the 8-K filed by the company on May 19, 2015. All stock trading, filings and market related information will be reported under this new symbol. “We are pleased to be trading under the new symbol that more accurately reflects our corporate rebranding. It will be key for us now to make that transition public for the benefit of the investment community that has continued to follow our growth,” states Guy Dubois, Chairman of Track Group.

About Track Group
Track Group develops and provides tracking solutions that combine real-time tracking devices and monitoring services with advanced data analytics for the global offender management market.

Cautionary Language Concerning Forward-Looking Statements:
Information set forth in this press release contains forward-looking statements that are subject to risks and uncertainties, and actual results might differ materially. A discussion of factors that may affect future results is contained in Track Groups’ filings with the Securities and Exchange Commission. Track Group, Inc. disclaims any obligation to update and revise statements contained in this news release based on new information or otherwise.

For more information, please contact:
Steve Hamilton, Chief Marketing Officer, Track Group
877-260-2010
steve.hamilton@trackgrp.com

John Merrill, Chief Financial Officer, Track Group
866-451-6141
john.merrill@trackgrp.com

Edison Initiates Coverage on Track Group

By | News

SALT LAKE CITY, UTAH May 7, 2015

Edison Investment Research, a leading international investment research firm, announces the initiation of full coverage of Track Group.

Edison Investment Research published its analysis of Track Group, which was released to the global investment community on May 6, 2015.

“The initiation of this analyst coverage maximizes Track Group’s exposure to all potential investors and intermediaries worldwide as well as increase investor understanding of the company,” said Guy Dubois, Chairman, Track Group. “This type of coverage is increasingly important as we expand our global footprint and consider a potential uplisting to a regulated exchange.”

To download this report, please click here.

The report is sponsored research by Track Group. Track Group does not expressly or by implication warrant or assume any legal liability or responsibility for the accuracy, completeness, or usefulness of any information, assumption, data, forecast, estimate or projection contained in the report, and the dissemination of the report does not necessarily constitute or imply the Company’s endorsement or recommendation.

About Track Group
Track Group develops and provides end-to-end B2B and B2G tracking solutions that combine real-time tracking devices and monitoring services with advanced data analytics for the global offender management market.

Forward-Looking Statement
Statements in this release that are forward looking involve known and unknown risks and uncertainties. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,”, “may,” “plan,” “project,” “predict,” “if”, “should” and “will” and similar expressions as they relate to the Company are intended to identify such forward-looking statements. The Company may from time to time update these forward-looking statements, but it is not obligated to do so. For a discussion of the risks and uncertainties involving the Company and its securities, see “Risk Factors” in the Company’s annual report on Form 10-K and other filings with the Securities and Exchange Commission including its reports on Form 10-Q. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.

For more information, please contact:
Steve Hamilton, Chief Marketing Officer
877-260-2010 ext. 4004
steve.hamilton@trackgrp.com

John Merrill, Chief Financial Officer
866-451-6141 ext. 1002
john.merrill@trackgrp.com