You can call it "GPS-O-Meter" too ;-)

The Track Stick records its own location, time, date, speed, heading and altitude at preset intervals. With over 1Mb of memory, it can store months of travel information.

The Track Stick receives signals from twenty four satellites orbiting the earth. With this information, the Track Stick can precisely calculate its own position anywhere on the planet to within fifteen meters.

Beside what smartmobs writes ("Toss one of these tracksticks in your child's/spouse's/neighbor's/colleagues car/luggage/lunchbox and record a precise record of everywhere they go") I guess it's nice for people who love to walk in the mountains. Or just to learn more about yourself - what you think where you've been and where you really walked by...