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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><BR>
<B>United States</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of<BR>
the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date of Report (Date of earliest event
reported):</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>March 7, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD COLSPAN="3" STYLE="padding-right: 0.7pt; padding-left: 0.7pt; font-size: 12pt; font-weight: bold; text-align: center">ISECURETRAC CORP.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 0.7pt; padding-left: 0.7pt; text-align: center">(Exact name of registrant as specified in its charter)</TD></TR>
<TR>
    <TD STYLE="width: 50%; vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="width: 2%; vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="width: 48%; vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; font-weight: bold; text-align: center">Delaware</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; font-weight: bold; text-align: center">0-26455</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; text-align: center">(State of Formation)</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; text-align: center">(Commission File Number)</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 0.7pt; padding-left: 0.7pt; font-weight: bold; text-align: center">87-0347787</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 0.7pt; padding-left: 0.7pt; text-align: center">(IRS Employer Identification Number)</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; font-weight: bold; text-align: center"><B>5078 South 111<SUP>th</SUP> Street<BR>
Omaha, NE</B></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt; font-weight: bold; text-align: center">68137</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; text-align: center">(Address of principal executive offices)</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; text-align: center">(Zip Code)</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 0.7pt; padding-left: 0.7pt; font-weight: bold; text-align: center">(402)&nbsp;537-0022</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 0.7pt; padding-left: 0.7pt; text-align: center">(Registrants&rsquo; telephone number, including area code)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 0.7pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 0.7pt; padding-left: 0.7pt; font-weight: bold; text-align: center">Not applicable</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 0.7pt; padding-left: 0.7pt; text-align: center">(Former name or former address, if changed since last report)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT>&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT>&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT>&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT>&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 5.02. Departure of Directors or
Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On March 7, 2012, the Board of Directors
of iSECUREtrac Corp. (the &ldquo;Company&rdquo;) unanimously approved the appointment of Greg W. Gaggini and Thomas J. Burlin as
directors of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Mr. Gaggini, 47, has nearly 20 years as
a Senior Marketing and Sales executive and has been President/COO at AccuCut LLC, an Omaha based company that manufactures and
markets die cutting solutions in the craft and education arenas worldwide since March 2010. He previously served as President of
AccuCut from 2005 to 2008. Mr. Gaggini&rsquo;s prior experience also includes time spent with InfoGROUP, where he was Senior Vice
President of Sales from March 2008 to June 2009, Oriental Trading Company, and SPIEGEL INC. He is also President / Owner of Custom
Solutions Consulting of Omaha, Nebraska.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Mr. Burlin, 54, is an accomplished senior
executive with more than 30 years experience in the high tech industry. His responsibilities have included more than 75,000 employees
in over 100 countries around the world. He has managed approximately $7 billion in annual revenue across a diverse portfolio of
government and commercial markets for IBM and Affiliated Computer Services (ACS), a Xerox company. Since October 2010, Mr. Burlin
has been President and CEO of Burlin Consulting Services, specializing in providing world class consulting to government and industry
leaders. Previously Mr. Burlin spent more than six years with ACS, serving as Group President Government Services, COO ACS, and
COO ASC Government. He was with ACS from July 2005 to October 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The appointments of Mr. Gaggini and Mr.
Burlin fill two of the four vacant positions on the Company&rsquo;s Board of Directors resulting from the resignation on June 30,
2011 of the directors appointed by Mykonos 6420 LP (&ldquo;Mykonos&rdquo;), as the sole holder of the Company&rsquo;s Series&nbsp;C
8% Cumulative, Compounding Exchangeable Preferred Stock. Mykonos, together with Crestpark LP, Inc. (&ldquo;Crestpark&rdquo;), the
sole holder of the Company&rsquo;s Series D 8% Cumulative, Compounding Exchangeable Preferred Stock have the right to appoint four
of the seven directors of the Company and to appoint successors to any director appointed by them who resigns or is removed from
the Board of Directors. However, the Company has been notified by Mykonos and Crestpark that neither of them have any current intentions
to exercise their right to appoint Company directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Board of Directors has determined that Mr. Gaggini and
Mr. Burlin are independent directors using the independence guidelines in Section 303A.02 of the New York Stock Exchange listing
standards and the additional guidelines set forth in the Company&rsquo;s Guidelines on Significant Corporate Governance Issues.
At this time, neither Mr. Gaggini nor Mr. Burlin have been appointed to serve on any standing committees of the Board of Directors.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 0.7pt; padding-left: 0.7pt">ISECURETRAC CORP.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 0.7pt; padding-left: 0.7pt">By</TD>
    <TD STYLE="width: 36%; border-bottom: windowtext 1pt solid; padding-right: 0.7pt; padding-left: 0.7pt">/s/ Lincoln Zehr</TD>
    <TD STYLE="width: 10%; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.7pt; padding-left: 0.7pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Lincoln Zehr</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chief Executive Officer</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">March 13, 2012</TD>
    <TD COLSPAN="3" STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
</TABLE>
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{"company-data": {"conformed-name": "ISECURETRAC CORP", "cik": "0001088120", "assigned-sic": "4899", "irs-number": "870347787", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-26455", "film-number": "12687270"}, "business-address": {"street1": "5078 SOUTH 111TH STREET", "city": "OMAHA", "state": "NE", "zip": "68137", "phone": "8665370022"}, "mail-address": {"street1": "5078 SOUTH 111TH STREET", "city": "OMAHA", "state": "NE", "zip": "68137"}, "former-company": {"former-conformed-name": "ADVANCED BUSINESS SCIENCES INC/DE", "date-changed": "19990607"}}
United States
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event
reported):
March 7, 2012
ISECURETRAC CORP.
(Exact name of registrant as specified in its charter)
Delaware
0-26455
(State of Formation)
(Commission File Number)
87-0347787
(IRS Employer Identification Number)
5078 South 111
th
Street
Omaha, NE
68137
(Address of principal executive offices)
(Zip Code)
(402) 537-0022
(Registrants' telephone number, including area code)
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
£
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
£
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
£
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
£
Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e(c))
Item 5.02. Departure of Directors or
Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 7, 2012, the Board of Directors
of iSECUREtrac Corp. (the "Company") unanimously approved the appointment of Greg W. Gaggini and Thomas J. Burlin as
directors of the Company.
Mr. Gaggini, 47, has nearly 20 years as
a Senior Marketing and Sales executive and has been President/COO at AccuCut LLC, an Omaha based company that manufactures and
markets die cutting solutions in the craft and education arenas worldwide since March 2010. He previously served as President of
AccuCut from 2005 to 2008. Mr. Gaggini's prior experience also includes time spent with InfoGROUP, where he was Senior Vice
President of Sales from March 2008 to June 2009, Oriental Trading Company, and SPIEGEL INC. He is also President / Owner of Custom
Solutions Consulting of Omaha, Nebraska.
Mr. Burlin, 54, is an accomplished senior
executive with more than 30 years experience in the high tech industry. His responsibilities have included more than 75,000 employees
in over 100 countries around the world. He has managed approximately $7 billion in annual revenue across a diverse portfolio of
government and commercial markets for IBM and Affiliated Computer Services (ACS), a Xerox company. Since October 2010, Mr. Burlin
has been President and CEO of Burlin Consulting Services, specializing in providing world class consulting to government and industry
leaders. Previously Mr. Burlin spent more than six years with ACS, serving as Group President Government Services, COO ACS, and
COO ASC Government. He was with ACS from July 2005 to October 2010.
The appointments of Mr. Gaggini and Mr.
Burlin fill two of the four vacant positions on the Company's Board of Directors resulting from the resignation on June 30,
2011 of the directors appointed by Mykonos 6420 LP ("Mykonos"), as the sole holder of the Company's Series C
8% Cumulative, Compounding Exchangeable Preferred Stock. Mykonos, together with Crestpark LP, Inc. ("Crestpark"), the
sole holder of the Company's Series D 8% Cumulative, Compounding Exchangeable Preferred Stock have the right to appoint four
of the seven directors of the Company and to appoint successors to any director appointed by them who resigns or is removed from
the Board of Directors. However, the Company has been notified by Mykonos and Crestpark that neither of them have any current intentions
to exercise their right to appoint Company directors.
The Board of Directors has determined that Mr. Gaggini and
Mr. Burlin are independent directors using the independence guidelines in Section 303A.02 of the New York Stock Exchange listing
standards and the additional guidelines set forth in the Company's Guidelines on Significant Corporate Governance Issues.
At this time, neither Mr. Gaggini nor Mr. Burlin have been appointed to serve on any standing committees of the Board of Directors.
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
ISECURETRAC CORP.
By
/s/ Lincoln Zehr
Lincoln Zehr
Chief Executive Officer
March 13, 2012