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Tuesday, April 21, 2015 7:04:54 AM
On April 15, 2015, GeoTraq Inc. (“GeoTraq”) received a deposit of $50,000 for the sale of Cell-ID tracking devices that it will be required to manufacture pursuant to a purchase order for Cell-ID tracking devices. GeoTraq is expecting 50 Cell-ID tracking device prototypes to be delivered before April 30, 2015. Once the prototypes arrive, the Cell-ID tracking devices will be submitted for testing and certification. After certification, GeoTraq will manufacture and deliver 5,000 Cell-ID tracking device to satisfy existing orders. GeoTraq anticipates that it will recognize revenue from the sale of these Cell-ID tracking devices in the fourth quarter of its fiscal year ending July 31, 2015.
As a result of the aforementioned deposit and operations, GeoTraq is actively engaged in the manufacture and sale of its Cell-ID tracking devices, is engaged in more than nominal activities and is no longer a shell company.
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