GTX Corp Reports Second Quarter 2020 Financial Results and Provides Corporate Summary Update
Despite COVID-19, GTX reports another profitable quarter LOS ANGELES CALIFORNIA, August 18, 2020GTX Corp (OTCQB: GTXO) (“the Company”), a pioneer in the field of wearable GPS, people and asset tracking Location-Based Services (LBS) and Real-Time Location Systems (RTLS), today announced financial results for the Second Quarter ended June 30, 2020 and provided the following corporate summary. Second Quarter Financial Highlights (3 months): GTX showed a net profit for the 2nd quarter in a row. Product revenue increased 399% over the 2019 comparable period. Total operating expenses decreased 19% from 2019, including: Total quarterly revenue for the comparable period declined 44% primarily due to a one-time transaction in the same quarter in 2019. Retired more than $155,000 in convertible debt. 2020 Year-to-Date Financial Highlights (6 months): GTX showed a net profit for the 2nd consecutive quarter. Product revenue increased 336% over 2019 comparable period. Total operating expenses decreased 32% from 2019, […]