Positions GTX Corp with a clean balance sheet going into 2015
LOS ANGELES, CALIFORNIA – JANUARY 15, 2015 – GTX Corp. (OTCBB: GTXO), a pioneer and global provider of personal location wearable technologies, is pleased to announce the retirement of all senior secured convertible promissory notes previously held by an institutional investor. The entire principal balance of all the senior secured convertible notes was converted into common stock or retired. In total, $716,000 of debt and liabilities were extinguished from the balance sheet. In addition to the retirement of all the senior secured convertible notes, the Company completed a small, at market, bridge financing at an effective price of $.011 per share with several strategic investors in the amount of $167,500. “The elimination of this convertible debt along with this bridge round, has strengthened our balance sheet and helped to finance some of the production for the recent consumer launch of our SmartSoles,” commented Patrick Bertagna, CEO of GTX […]