One company is starting to capture the attention of investors is the iSECUREtrac Corporation. Located in Omaha, Nebraska, iSECUREtrac is known for providing electronic monitoring systems, client management software and supplemental services for its use in community supervision. Today, iSECUREtrac took a major step towards enhancing its future with the announcement of an increase in their Revolving Line of Credit.
The increase in the Revolving Line of Credit comes from Crestpark LP, Inc. which is iSECUREtrac’s primary lender and holder of their outstanding Preferred Stock. The increase to the Revolving Line of Credit has gone up to $1,468,788 and allows the young company to have in excess of $1,000,000 available.
Leading the way at iSECUREtrac is Peter Michel who serves as the company’s President and CEO. Commenting on what this increase will mean to the future of iSECUREtrac, Michel was quoted as saying, “Crestpark has been an extremely valuable partner to iSECUREtrac since becoming involved with the company in 2005. The liquidity provided by this credit facility significantly strengthens the Company and when coupled with management’s continuing commitment to cost management and optimism about increased future revenues puts the Company in the strongest financial position ever experienced. Furthermore, 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 the available credit facilities are more than sufficient for the Company to achieve sustainable positive cash flow.”
Currently, iSECUREtrac is trading in the $0.89 range. To learn more about the iSECUREtrac Corporation, visit the company website at: www.isecuretrac.com
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