TrackX to Expand Solution Deployment for Existing Portable Toilet Rental Services Customer

TrackX Holdings Inc (TSXV:TKX), a software-as-a-service (SaaS) based enterprise asset management solution provider announced the expansion of an existing contract with a leading provider of portable toilet rental services.

As quoted in the press release:

While TrackX’s Global Asset Management for Enterprises (GAME) solution already tracks some of the client’s portable toilets, it now expands to manage portable washroom trailers and associated workflows. Part of the solution includes advanced reservation and appointment scheduling, in addition to the automated inventory functions of GAME. TrackX’s client will benefit from the expansion of service by being able to more effectively fulfill rental orders and improve service to their customers. The solution will be deployed at the first of potentially twelve client facilities at which this particular asset class is being inventoried.

“As we continued to educate our customer on the further benefits of the GAME platform, it was quickly realized that additional assets within the enterprise could also benefit from the solution,” said Tim Harvie, CEO of TrackX. “Through asset class expansion and additional workflow processes, we continue to provide invaluable business intelligence to our customers, further increasing our footprint within the enterprise and remaining consistent with our ‘Land and Expand’ strategy.”

The Company also announces that after undertaking its annual performance review, it has granted a total of 885,000 incentive stock options to directors and employees of the Company, subject to TSX Venture Exchange acceptance.  Each option is exercisable to purchase one common share of the Company for five years at a price of C$0.285 per common share in accordance with the terms of the Company’s stock option plan.

The Board of Directors of the Company also approved the grant of 1,100,000 restricted share units to certain directors, officers, and employees of the Company, subject to the meeting of certain vesting and performance conditions.  The restricted share units were granted in accordance with the Company’s fixed, restricted share unit plan.

Click here for the text release.