Los Angeles, Calif. – August 14, 2014 – GTX Corp (OTCQB: GTXO), a pioneer in personal location wearable technologies, announced today commentary on its second quarter performance, along with the outlook for the balance of 2014.
Q2 2014 Highlights:
- Launched pilot program for GPS & BLE SmartSoles with 30 active and pending programs in 12 countries
- Accepted orders for close to 1,000 GPS and BLE SmartSoles
- Launched 2 products on Amazon
- Continued penetration of products into new Drone vertical with over 300 units shipped
- Integrated wireless inductive charging in embedded and stand-alone products
- Strengthened intellectual property portfolio with key patent “286” addition
- Featured in WSJ, CNN, BBC, FOX News, Business Journals and several others media outlets.
“As we discussed in our last shareholder update, GTX continues its transition from the licensed GPS Shoe model to the direct product to user model and is focusing its efforts on product development and channel partner distribution,” commented Patrick Bertagna, Chief Executive Officer of GTX Corp. “As we begin finalizing our product development phase and get closer to a commercial launch we are starting to ramp up our marketing initiatives through – trade shows, social media campaigns, recent press and our existing global relationships, and have been successfully enrolling potential partners into our Pilot Programs. We are currently managing 10 – 15 inquiries per week and plan to enroll up to 100 pilots. We are working closely with select groups ranging from assisted living communities, health organizations, Int’l distributors, domestic resellers and sales organizations, advocacy groups and high profile influencers in the sports, media, academia, security, government, municipal and philanthropic organizations that we believe have the potential to result in large scale deployments in the future.”
Mr. Bertagna continued, “In addition to our product and business development activities, we have also made significant strides in enhancing the value of our IP portfolio, through the issuance of our latest patent, which we refer to as our ‘286 Patent’. The 286 Patent is significant and a possible game changer as it covers communication protocols across a broad range of wearable devices with respect to how they store and transmit data. Even more significant is the priority date granted, which dates back to early 2008, providing us with significant intellectual property protection and potential for monetization.”
“The Company has developed and introduced to the market place a robust line of GPS, Cellular and BLE monitoring and tracking technology across 3 product lines – embedded, all purpose, and digital – all 3 come with different monthly subscription plans ranging from $2.00 to $30 per month and all 3 are currently being sold into the market place. As our channels of distribution for these 3 product lines start to convert from pilots or soft launch to full commercial rollouts, the Company should start realizing an increase in unit and App sales and related monthly recurring service fees. As we move into the back end of the year, we remain confident in our direct product to user approach and appreciate the support we have received from the industry, our partners and our shareholders alike.”
