Track Group, Inc.

Overview

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• TickerTRCK on OTC²
• IndustryCommunications Equipment, NEC²
• HeadquartersNaperville, United States²
• Incorporated inDE⁴
• Business address200 E. 5Th Avenue Suite 100, Naperville, Il 60563⁴
• Filer categoryNon-accelerated filer, Smaller reporting company⁴
• Legal formCorporation²
• LEI549300RVO08168K5S262²
• StatusActive²
• LEI statusLapsed (not renewed)²
• Registered addressC/O CORPORATION SERVICE COMPANY, 19808 Wilmington, United States²
• Registered withDivision of Corporations, Department of State, 6116074²

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Track Group, Inc., (the “ Company ”, “ we ”, “ us ”, and “ our ”), a Delaware corporation since 2016 and previously incorporated in 1995 as a Utah corporation, has its principal place of business at 200 E. 5th Avenue Suite 100, Naperville, Illinois 60563. Our telephone number is (877) 260-2010. We maintain a corporate website at www.trackgrp.com. Our common stock, par value $0.0001 per share (“ Common Stock ”), is currently listed for quotation on the OTCQB Venture Markets (“ OTCQB ”) under the symbol “TRCK”. Unless specified otherwise, as used in this Annual Report, references to Track Group, Inc. include the Company and its subsidiaries: Track Group Americas, Inc., a Utah corporation; Track Group – Puerto Rico, Inc., a Puerto Rico corporation; Emerge Monitoring, Inc., a Florida corporation; Emerge Monitoring II LLC, a Florida limited liability company; Integrated Monitoring Systems, LL…⁵ From its latest annual report

Corporate structure

Track Group, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Track Group, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

Intangibles and goodwill

Inventory

Properties, in its own words

Our headquarters is approximately 5,600 square feet of commercial office space located at 200 E. 5th Avenue Suite 100, Naperville, Illinois. The lease for this office space began on September 1, 2017 and expired on August 31, 2022, at which time the lease was extended for another five years. Base rent and common area maintenance payments are approximately $12,000 per month.

We lease commercial office space in Indianapolis, Indiana of approximately 11,770 square feet. This lease began on January 1, 2025 and expires on December 31, 2029. Base rent and common area maintenance payments are approximately $12,000 per month.

Item 2 of the 10-K filed Dec 19, 2025.⁵

Leadership

Who has led Track Group, Inc., and when. Pick a name to see everywhere that person has worked.

• Chief executive officerDerek Cassell Jan 10, 2018 to now¹⁵
• Chief executive officerDavid G. Derrick Jul 13, 2006 to Jul 21, 2011¹⁶
• PresidentJohn L. Hastings Iii. Jun 26, 2008 to May 18, 2012¹⁷
• Chief financial officerJames A. Berg Apr 1, 2024 to now¹⁸
• Chief financial officerPeter K. Poli Mar 16, 2017 to Aug 19, 2021¹⁹
• Chief financial officerChad Olsen Jan 21, 2010 to Apr 14, 2014²⁰
• Chief financial officerBlake Rigby Jun 26, 2008 to Jun 26, 2008²¹
• Chief financial officerMichael G. Acton Jan 23, 2006 to Dec 14, 2007²²
• Chief operating officerBlake Rigby Jun 26, 2008 to Jun 26, 2008²¹

Named in SEC Form D filings

People the company listed in its private-offering notices.

• DirectorJohn Sullivan named May 14, 2026⁴⁶

Former names

• SecureAlert, Inc.Feb 16, 2010 to May 11, 2015⁴
• REMOTE MDX INCAug 20, 2001 to Feb 12, 2010⁴
• VOLU SOL INCNov 24, 1997 to May 22, 2001⁴

Timeline

1. Aug 24, 20268-K Entered a material agreement; New debt or obligation; Other events⁴⁷
2. Aug 14, 20268-K Results of operations⁴⁸
3. May 8, 20268-K Results of operations⁴⁹
4. May 4, 20268-K Entered a material agreement; New debt or obligation; Unregistered sale of shares⁵⁰
5. Feb 13, 20268-K Results of operations⁵¹
6. Dec 19, 20258-K Results of operations⁵²
7. Aug 8, 20258-K Results of operations⁵³
8. Jun 10, 20258-K Executive or director change⁵⁴
9. May 14, 20258-K Results of operations⁵⁵
10. Feb 13, 20258-K Bylaws or fiscal year changed⁵⁶
11. Feb 7, 20258-K Results of operations⁵⁷
12. Dec 23, 20248-K Results of operations⁵⁸
13. Jan 10, 2018New chief executive Derek Cassell becomes CEO¹⁵
14. Aug 5, 2016Founded Track Group, Inc. is founded²
15. Jul 13, 2006New chief executive David G. Derrick becomes CEO¹⁶

Calendar

Coming up

1. Around Nov 20, 2026Next results, estimated About a quarter after its last report. The company hasn't announced the date.

When it reported results

1. Aug 14, 2026Reported quarterly or annual results⁴⁸
2. May 8, 2026Reported quarterly or annual results⁴⁹
3. Feb 13, 2026Reported quarterly or annual results⁵¹
4. Dec 19, 2025Reported quarterly or annual results⁵²
5. Aug 8, 2025Reported quarterly or annual results⁵³
6. May 14, 2025Reported quarterly or annual results⁵⁵
7. Feb 7, 2025Reported quarterly or annual results⁵⁷
8. Dec 23, 2024Reported quarterly or annual results⁵⁸

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

109 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 33 major events, 34 insider forms, 12 large holders, 1 private raises, 9 other. The latest 20:

1. Oct 1, 20264 OWNERSHIP DOCUMENT EDGAR
2. Sep 14, 20264/A EDGAR
3. Sep 14, 20264/A EDGAR
4. Aug 24, 20264 EDGAR
5. Aug 24, 20264 EDGAR
6. Aug 24, 20264 EDGAR
7. Aug 24, 20264 EDGAR
8. Aug 24, 20264 EDGAR
9. Aug 24, 20264 EDGAR
10. Aug 24, 20264 EDGAR
11. Aug 24, 20264 EDGAR
12. Aug 24, 20264 EDGAR
13. Aug 24, 20264 EDGAR
14. Aug 24, 20268-K EDGAR
15. Aug 24, 20264 EDGAR
16. Aug 20, 2026S-8 EDGAR
17. Aug 14, 20268-K EDGAR
18. Aug 14, 202610-Q EDGAR
19. Jul 20, 2026DEF 14C EDGAR
20. Jul 14, 2026424B3 EDGAR

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

2 open-market trades by officers, directors and large owners since October 2021: 2 buys and 0 sales. Grants, option exercises and gifts are left out.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

• JCP Investment Management, LLCSCHEDULE 13D, 1 filing May 5, 2026⁵⁹
• Denver Johnson SmithSCHEDULE 13D/A, 3 filings Jan 16, 2025 to May 4, 2026⁶⁰
• ADS Securities LLCSCHEDULE 13D/A, 3 filings Jun 3, 2022 to Dec 26, 2024⁶¹
• Invest S.a. ConrentSC 13D/A, 2 filings Jul 17, 2023 to Mar 25, 2024⁶²
• CRC Founders Fund, LPSC 13G/A, 2 filings Jun 22, 2023 to Jan 10, 2024⁶³
• Invest S.a. SafetySC 13D/A, 1 filing Aug 1, 2023⁶⁴

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

1. Apr 30, 2026Raised $10.3 million in a private offering of equity⁴⁶ Form D: 10 investors so far Form D

PPP loans

Paycheck Protection Program loans of $150,000 and up, approved April 2020 to July 2021, from the SBA⁶⁵. Matched to this company by name and state.

1. May 11, 2020$933.2K PPP loan (first draw) from BMO Bank National Association⁶⁵To TRACK GROUP, INC., Naperville IL; $939.1K forgiven Jan 7, 2021

SEC filer profile

How Track Group, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

• Name on EDGARTrack Group, Inc.¹
• CIK0001045942
• Employer ID (EIN)87-0543981⁵
• Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company⁵
• Incorporated inDelaware⁵
• Fiscal year endsSeptember 30¹
• Industry code (SIC)3669 Communications Equipment, NEC¹
• SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance¹
• Business address200 E. 5Th Avenue Suite 100, Naperville, IL 60563¹
• Phone877-260-2010¹
• Shares outstanding41,335,187 as of Aug 3, 2026¹⁴
• Public float$900.0K as of Mar 31, 2025⁵
• AuditorEide Bailly LLP, Denver, Colorado PCAOB ID 286; no auditor attestation of internal control over financial reporting⁵
• On EDGAR sinceOct 1, 1997¹
• Filings834 in all: 4 (253), 8-K (150), 10-Q (56), 3 (45), 10QSB (31), SC 13D/A (27), 10-K (18), SC 13D (16)¹
  All 50 form types

  5 (15), UPLOAD (15), DEF 14A (14), NT 10-Q (14), NT 10-K (12), 10KSB (10), 4/A (10), 424B3 (10), 8-K/A (10), CORRESP (10), PRE 14A (10), S-8 (9), SC 13G/A (9), EFFECT (8), 10QSB/A (7), SC 13G (7), PRE 14C (5), S-1 (5), S-1/A (5), SB-2/A (5), 10-K/A (4), 10KSB/A (4), CT ORDER (4), D (4), DEF 14C (4), PRER14A (4), SB-2 (3), SCHEDULE 13D/A (3), 10SB12G/A (2), 3/A (2), DEFA14A (2), SCHEDULE 13D (2), 10-Q/A (1), 10KSB40 (1), 10SB12G (1), D/A (1), POS AM (1), REGDEX (1), REGDEX/A (1), RW (1), S-8 POS (1), S-B (1)

• Latest filingsAnnual report (10-K) Dec 19, 2025
  Quarterly report (10-Q) Aug 14, 2026
  Proxy statement (DEF 14A) Feb 24, 2022
  Latest 8-K (8-K) Aug 24, 2026

Risk factors and legal proceedings

The risks Track Group, Inc. names in Item 1A of its 10-K filed Dec 19, 2025: 29 risks under these headings, as written.⁵

• Risks Related to Our Business, Operations and Industry
• We face risks related to our substantial indebtedness, including risk related to the repayment of our indebtedness.
• We may not be able to generate sufficient cash to service all of our indebtedness and may be forced to take other actions to satisfy our obligations under our indebtedness, which may not be successful.
• If our cash flows and capital resources are insufficient to fund our debt service obligations, we may be forced to reduce or delay investments and capital expenditures, sell assets, seek additional capital, or restructure or refinance our indebtedness.
• There is no certainty that the market will continue to accept or expand the use of our products and services.
• Budgetary issues faced by government agencies could adversely impact our future revenue.
• We rely on significant suppliers for key products and cellular access. If we do not renew these agreements when they expire, we may not continue to have access to these suppliers’ products or services at favorable prices or in volumes as we have in the past, which could adversely affect our results of operations or financial condition.
• Our research, development, marketing and export activities are subject to government regulations. The cost of compliance or the failure to comply with these regulations could adversely affect our business, results of operations and financial condition.
• We face intense competition, including competition from entities that are more established and may have greater financial resources than we do, which may make it difficult for us to establish and maintain a viable market presence.
• We are dependent upon certain customers, the loss of which may adversely affect our results of operations and business condition.
• Our business plan is subject to the risks of technological uncertainty, which may result in our products failing to be competitive or readily accepted by our target markets.
• We face risks of litigation and regulatory investigation and actions in connection with our operations.

Legal proceedings

The Company is, from time to time, involved in various legal proceedings incidental to the conduct of our business. Historically, the outcome of nearly all such legal proceedings has not, in the aggregate, had a material adverse effect on our business, financial condition, results of operations or liquidity. Other than as set forth below, there are no additional pending or threatened legal proceedings at this time.

Commonwealth of Puerto Rico, through its Trustees v. International Surveillance Services Corporation. In January 2020, the Company was served with a summons for an Adversary Action pending against International Surveillance Services Corporation (“ISS”), a subsidiary of the Company, now known as Track Group – Puerto Rico Inc., in the United States District Court for the District of Puerto Rico seeking to recover allegedly fraudulent transfers and to disallow claims pursuant to United States Bankruptcy and Puerto Rican law. The allegations stemmed from payments made to ISS between 2014 and 2017 by the government of Puerto Rico for services rendered. During the quarter ended March 31, 2025, the Company, without admitting liability, entered into a settlement agreement with the Commonwealth, resulting in the payment by the Company of an immaterial amount to the Trustee. A dismissal of the case with prejudice was entered on April 7, 2025 following the tender of the settlement payment.

Kevin Barnes v. Track Group, Inc., et. al. On December 28, 2023, the Company was served with a second amended complaint filed in the Circuit Court of Cook County, Illinois naming the Company and alleging strict liability and negligence against the Company and other defendants related to alleged injuries sustained by Barnes from an electronic monitoring device. To avoid the costs and risks of continued litigation, the Company’s insurer, without admitting liability, settled the litigation for an immaterial amount, and the case was dismissed on April 9, 2025.

The opening of Item 3, Legal Proceedings.⁵