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Universal Tracking Solutions Inc (UTRK)

Universal Tracking Solutions Inc (UTRK)
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Universal Tracking Solutions, Inc. was incorporated on July 19, 2006 in the state of Nevada. The company is a provider of Global Positioning Satellite ("GPS") asset tracking systems. It systems are typically applied to monitor fleets of motor vehicles. It produces and services a world wide web-based asset tracking technology primarily designed to track the location, speed, and heading of a customer's motor vehicle in real time. Customers purchase and install monitoring devices in their motor vehicle. Using integrated GPS and wireless communications technologies, the device broadcasts data to UTS. Customers then use proprietary web site to remotely monitor and control their motor vehicle containing the UTS device, whether the vehicle is in authorized or unauthorized use. It offers two main products. First is a fleet tracking device that can perform all of the services that it offer. The second is a finance or dealership product that performs a limited number of functions. Generally, starter disable and GPS location when a vehicle needs to be recovered. UTS have several distribution partners who are strategically focused on large scale applications. UTS also have strategic relationships with a variety of vendors who supply various products and software support. This includes the manufacturing of tracking units, mapping software, cellular coverage, and etc. Its customer base is spread throughout the United States. The company's current focus is in the West and Southwest United States. It currently has approximately 650 units in service. Several competitors or potential competitors are marketing or have announced the development of products, including those that are based on GPS technology. The company believes that it face competition from companies selling similar tracking products such as LoJack and OnStar, vehicle alarms and third party warranty and insurance products. It recognizes revenues at the time that all services have been substantially completed or products have been delivered.
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