SOURCE: MicroTRAK GPS, Inc.

March 30, 2007 09:33 ET

The Tracking Corporation Announces Walter Stock Is Leaving MicroTRAK GPS

DALLAS, TX -- (MARKET WIRE) -- March 30, 2007 -- The Tracking Corporation (PINKSHEETS: MIOK) announced today that Walter "Wally" Stock has resigned as President, Chief Financial Officer and Director of The Tracking Corporation and its subsidiary, MicroTRAK GPS, Inc., effective March 31, 2007.

Commenting on his departure, Mr. Stock stated, "It has always been my plan to return to my entrepreneurial and investment management interests. I am leaving to pursue other opportunities that will benefit from my skills and expertise. We have accomplished the goals that Chief Executive Officer Jerry Grisaffi and I set when we formed the business four years ago. The Company now enjoys its best operational position in its history, evidenced by a myriad of premier dealers and distributors, a rapidly increasing subscription customer base, established and highly regarded suppliers, and a state-of-the-art management operations system that was developed with Perot Systems. MicroTRAK GPS, Inc. has a solid business plan, a host of new market opportunities, an efficient management team (including a soon-to-be announced new CFO), and the infrastructure to implement."

Stock concluded, "I want to publicly thank Jerry Grisaffi for his dream which precipitated the founding and development of The Tracking Corporation into a vibrant and exciting public corporation."

MicroTRAK GPS, an operating subsidiary of The Tracking Corporation, is a Dallas-based total-solutions provider, with ventures in the asset tracking and vehicle recovery markets. MicroTRAK GPS functions as a multi-faceted corporation focusing on a turn-key approach. This level of dedication provides them with expertise in developing, designing, providing, manufacturing, distributing and servicing GPS technology and products. If you are interested in viewing additional information on The Tracking Corporation, please visit the website at: www.microtrakgps.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties.

Although The Tracking Corporation believes the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by The Tracking Corporation or any other person that the objective and plans of The Tracking Corporation will be achieved.

Contact Information

  • Contact:
    Lisa Cooper
    The Tracking Corporation
    214-361-8812