Los Angeles, Calif. – July 6, 2016– GTX Corp (OTCBB: GTXO), an IoT platform in the personal location wearable and wandering assistive technology business, announced today signing a definitive agreement with Inventergy Innovations, LLC (“Inventergy”), a subsidiary ofInventergy Global, Inc. (NASDAQ: INVT) a Silicon Valley-based intellectual property company, led by IP industry veteran and former Hewlett-Packard executive, Joe Beyers, to spearhead their monetization efforts for its personal wireless location-based services IP assets. Both companies previously announced their letter of intent on May 10, 2016 and as part of the final agreement, Inventergy will have exclusive rights to license or sell three GTX patents – US 8,154,401, US 8,760,286, and US 9,219,978, commonly referred to as the “Comm. Protocol” or “286” Family. In exchange for the exclusive rights to sell or license these 3 patents, Inventergy will pay GTX Corp an advance against future income, in cash and INVT stock with a first payment on June 30th and then scheduled payments throughout the rest of 2016 and 2017.
Patrick Bertagna, GTX Corp Chairman and CEO stated, “We have been filing patents for over a decade including these Comm Protocols which were filed back in 2007 and 2008 before Apple and Samsung began selling GPS enabled Smartphones. This is a major turning point and significant milestone for GTX Corp. It validates our IP strategy and our ability to quickly execute on a monetization path to fuel our growth by leveraging our largest asset. We expect this IP deal to be the first of more to come in the future as we start exploring other monetization strategies with some of the other patents in our portfolio. The Inventergy team has been exceptional to work with and we look forward to a long lasting and prosperous relationship with them.”
Joe Beyers, CEO of Inventergy said, “GTX patents are applicable to remotely configurable tracking and location devices including smartphones and other GPS based products that are in use today and collectively represents a very sizable addressable market. We believe this partnership will allow us to build a successful monetization program around these assets.”
The agreement will still allow GTX to fully utilize these patents in its core business while providing Inventergy the ability to go license or sell the 3 patents and do a 45%/55% revenue share on all future income after the initial advance.
About Inventergy Global, Inc.
Inventergy Global, Inc. (“Inventergy”) is a Silicon Valley-based intellectual property company dedicated to identifying, acquiring and licensing patented technologies of market-significant technology leaders. Led by IP industry pioneer and veteran Joe Beyers, the Company leverages decades of corporate experience, market and technology expertise, and industry connections to assist Fortune 500 companies in leveraging the value of their innovations to achieve greater returns. For more information about Inventergy, visit www.inventergy.com.
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GTX Corp (GTXO) is a pioneer in Smart, Mobile and Wearable GPS, cellular and BLE tracking and recovery technology. Headquartered in Los Angeles, California, with distributors in over 14 countries, GTX is known for its game-changing and award-winning patented GPS Smart Shoe, blockbuster Smartphone GPS Tracking App, and innovative GPS and BLE SmartSole. GTX provides solutions that answer the “where“ question: where is my mother, child, employee, vehicle, drone and high value assets. Through a proprietary global enterprise IoT monitoring platform and licensing subscription business model, the Company offers a complete end to end solution of hardware, middleware, apps, connectivity and professional services. Letting you know where or how someone or something is at the touch of a button, delivering security and peace of mind in an instant. GTX Corp also owns and operates LOCiMOBILE, Inc which develops applications for smart phones and tablets and Code Amber Alertag. The Company has a comprehensive intellectual property strategy and owns an extensive portfolio of patents, patents pending, registered trademarks, copy rights and URL’s and was featured in a 38 page research piece which outlines the value proposition of the Company’s IP portfolio and more recently in the SeeThruEquity research report.
The patented GTX Corp wearable technology products and tracking devices, enable wearers to be monitored remotely, thereby helping to ensure their safety in case they wander or become lost due to cognitive disorders such as Alzheimer’s, dementia, autism and TBI. For more information on the Company’s flagship product the GPS SmartSole visit us:
Online: www.gtxcorp.com www.gpssmartsole.com
Social media – #withyou #smartsole
General information, licensing or investor relations email:
213.489.3019
In the UK, GTX Corp operates from offices in London and its Dublin-based European distribution center. For more information, please contact: Nelson Skip Riddle:
Email: nsriddle@gtxcorp.com
Tel: +44 7785 364100
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