Attached files
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| EX-10.1 - SECOND EXTENSION OF PURCHASE AGREEMENT, EFFECTIVE APRIL 1, 2010 - Track Group, Inc. | scra8k20100504ex10-1.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
——————
FORM
8-K
——————
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of
Report (Date of Earliest Event Reported): May 4, 2010
SECUREALERT,
INC.
(Exact
name of registrant as specified in its charter)
Commission
File No. 0-23153
|
Utah
|
87-0543981
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||
|
(State
or other jurisdiction
|
(IRS
Employer
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||
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of
incorporation)
|
Identification
Number)
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150 West
Civic Center Drive, Suite 400, Sandy, Utah 84070
(Address
of principal executive offices, Zip Code)
Registrant's
telephone number, including area code: (801) 451-6141
Former
name or former address, if changed since last report: Not
Applicable
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
[ ] Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ] Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
[ ] Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
8.01 Other Events
On May 4,
2010, effective April 1, 2010, the registrant executed an agreement to extend
the option period for the purchase of the remaining minority ownership interest
of its subsidiary corporation, Midwest Monitoring & Surveillance, Inc.
(“MM&S”), a Minnesota corporation. The agreement was entered into
by the registrant and the minority shareholders of MM&S to extend the option
period to March 31, 2011. As consideration for the extension of the
option period for the additional 12 months, the registrant paid a fee (to be
credited against the purchase price for the remaining shares of MM&S) by
issuing 150,000 restricted shares of the registrant’s authorized and previously
unissued common stock and waived the payment of $10,000 owed to registrant by
MM&S. In addition, the registrant agreed to make cash payments to
the sellers totaling $144,000 in equal installments over a 12-month
period. In consideration of the payments of cash and stock, the
registrant was issued additional shares of MM&S common stock increasing its
total ownership interest in MM&S to 53.145%.
Item
9.01 Financial Statements and
Exhibits.
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(d)
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Exhibits.
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10.1
Second Extension of Purchase Agreement, Effective
April 1, 2010.
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2
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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SECUREALERT,
INC.
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By:
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/s/ Chad
D. Olsen
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Chad
D. Olsen, Chief Financial Officer
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Date: May
7, 2010
3