ISecureTrac [OTC: ISRE], a developer of Global Positioning Systems for tracking and monitoring, has signed a common stock purchase agreement with Fusion Capital Fund II, an institutional investor.

The agreement provides that Fusion Capital (Chicago) will purchase $6 million of iSecureTrac’s common stock over a 30-month period. IsecureTrac (Omaha, Neb.) can extend the agreement for six months. IsecrureTrac also has the right to control the timing and the amount of stock sold with the purchase price based upon the market price of the stock at the time of sale without any discount.