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TWST: Would you give us a brief historical sketch of the company and a
picture of the things you're doing at the present time?
Mr. Vana: The company has actually been around since 1995. It was
founded for the purpose of developing GPS-enabled tracking devices for
the criminal justice industry. Our current product was deployed in 2002.
We have units in the field today in 46 states. We are in the process of
developing our next generation product, a prototype of which was
introduced last month at the APPA Show in Chicago. Currently, we're very
heavily invested in research and development, sales, and customer
support because we see the market today as having reached a tipping
point. TWST: Would you comment on the size and the outlook for the market?
Mr. Vana: At the beginning of the year, there were approximately 10,000
to 11,000 GPS units in the field. Now, in electronic monitoring in
total, there are approximately 150,000 electronic monitoring devices,
most of those being RF or traditional house arrest devices. What's
happening in the market is that the technology has matured to the point
where it works very well for GPS, with the integration of GPS in
cellular technology as well as the awareness of the technology. It seems
like you can't do a Google search or pick up a newspaper or turn on a
national newscast without hearing about GPS monitoring, especially in
the area of sex offender monitoring. So the market has really started to
take off. We see around 100% growth in the number of GPS units for 2006,
and we see that growth rate being extended into 2007.
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