Formula K is the "Kee Games" version of Gran Trak 10 from sister company Atari.
"Drivers, start your engines! The checkered flag falls, and you're off! Picking your way around the barriers and skidding through the "ess" curves! Speeding on the straightaways to beat your own previous time. The exclusive Kee feature: the lap timer, ticks away! You downshift, race around the switchbacks-fighting against time! Realistic engine, crash, skid & shifting sounds."
The main difference with Atari version, is the Lap Timer: light emitting diode clock gives lap times to 1/100th of a second.
Another Kee Games feature is the Automatic Drive button for ladies and kids, instead of using the 4-speed stick-shifting.
And last but not least, the race track might be different from Atari version (to be confirmed).