2-Track Global Inc. Filed Form 12b-25 Notification of Late Filing Annual Report.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- 2-Track Global Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : TOTG) today announced that, on March 29, 2006, the Company filed a form 12b-25, Notification of Late filing with respect to its Annual Report on Form 10KSB KSB Kogod School of Business (American University) KSB Kelley School of Business (Indiana University) KSB Kantonsschule Am Brühl St. in which it stated the (1) The auditor requires an additional time to complete the Form 10-KSB for the fiscal year ended December 31, 2005, (2) The Company decides to change its accounting policy on the treatment of Research and Development costs according the opinions of the Financial Accounting Standards Board Financial Accounting Standards Board (FASB) Board composed of independent members who create and interpret Generally Accepted Accounting Principles (GAAP). Statement which requires that companies expense R&D costs as those costs are incurred. Accordingly, all accumulated research and development costs were written off as of December 31, 2005 and any future research and development costs will be expensed as they are incurred. The amount to be written off for year 2005 will be approximately $860,000 and (3) the company also accrued $392,000 of unpaid directors' and consultant fees for the year 2005. The management expects that, after discussion with the auditor, the Form 10KSB could be filed by April 15, the due date of extension requested, unless there are any further questions from the auditor. 2-Track Global Inc. (TOTG) is a technology development and marketing company which owns, operates and licences proprietary telematics Originally coined to mean the convergence of telecommunications and information processing, the term later evolved to refer to automation in automobiles. GPS navigation, integrated hands-free cellphones, wireless communications and automatic driving assistance systems all come under the solutions combining hardware and software applications run over wireless or satellite networks to deliver remote security management of marine and cargo fleets (including consumer solutions aimed at the leisure, marine and domestic security markets) and commercial vehicle plant and machinery management and security. The company has communications architecture technology which provides global logistics solutions for the remote monitoring (protocol) remote monitoring - (RMON) A network management protocol that allows network information to be gathered at a single computer. Whereas SNMP gathers network data from a single type of Management Information Base (MIB), RMON 1 defines nine additional MIBs that provide a of freight containers over multiple transport modes. This press release includes certain statements, known as "forward-looking statements", which express the current expectations of 2-Track Global management. Investors are cautioned that these forward-looking statements reflect numerous assumptions and involve risks and uncertainties that may affect 2-Track Global Inc and its subsidiary businesses and prospects and cause actual results to differ materially from these forward-looking statements. Unanticipated product manufacturing and delivery issues, customer order push-outs or cancellations and product performance could cause actual results to differ materially from those currently anticipated as expressed in this press release. These risks and other risk factors relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc 2-Track Global Inc are described more fully in the most recent Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. filed by 2-Track Global Inc and other filings from time to time with the Securities and Exchange Commission. |
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