SOURCE: iSECUREtrac

iSECUREtrac

January 20, 2011 09:59 ET

iSECUREtrac Announces Extension of Maturity of Debt Obligations

OMAHA, NE--(Marketwire - January 20, 2011) - iSECUREtrac Corporation (OTCBB: ISEC), a leading provider in electronic monitoring systems and services to assist community corrections agencies, today announced that on December 31, 2010 the Company completed the process of extending the maturity date of all debt obligations with Crestpark LP, Inc. to January 2015. Crestpark LP, Inc. is the Company's primary lender and an affiliate of Mykonos 6420 LP -- the holder of the Company's Series C Preferred Stock.

In addition to extending the maturity dates, the documents capitalized all accrued and unpaid interest as well as the outstanding principal balance on the Equipment Term Loan into a new Note Payable due January 1, 2015 and established quarterly principal payments of $125,000 beginning March 31, 2012.

There were no changes made in the $1,468,788 Revolving Line of Credit, entered into in November 2008, and essentially all other terms of the Revolving Line of Credit and Note Payable, entered into in October 2007, remain unchanged.

According to President and CEO, Peter Michel, "We are very pleased to have concluded the process of extending the maturity date on our debt obligations with Crestpark. Crestpark has been an extremely valuable partner to iSECUREtrac since becoming involved with the company in 2005 and this extension demonstrates Crestpark's continued support of the Company. As we have previously pointed out, with the maturity of a number of equipment leases in early 2011, the Company's cash flow requirements will be significantly less in the near future such that we fully expect the Company to be able to sustain positive cash flow in excess of the quarterly principal payments which start in 2012."

About iSECUREtrac

iSECUREtrac Corp. provides electronic monitoring systems, client management software and supplemental services for use in community supervision. The company's rich stream of reliable data concerning a client's location, movement and status better enables effective compliance management and positive behavior modification. Visit www.isecuretrac.com for more information.

Safe Harbor

This press release contains forward-looking statements that, if not verifiable historical fact, may be viewed as forward-looking statements that could predict future events or outcomes with respect to iSECUREtrac Corp. and its business. The predictions embodied in these statements will involve risks and uncertainties and accordingly, iSECUREtrac's actual results may differ significantly from the results discussed or implied in such forward-looking statements.