Category Archives: Press Releases

GTX Reports 2019 Financial Summary

Revenue increased 118%, IP Licensing increased 1,426%, Subscribers increased 36% LOS ANGELES CALIFORNIA, April 1, 2020  GTX 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 a summary for the year ended December 31, 2019. 2019 Financial Highlights: Overall Revenue increased 118% over 2018 comparable period. IP Licensing increased 1,426% over 2018 comparable period. International Subscribers increased 44% over 2018 comparable period. Overall Subscribers increased 36% over 2018 comparable period. Professional Services increased 75% over 2018 comparable period. Gross Margin increased from 69% to 87% from 2018.  Total operating expenses decreased 25% from 2018. Loss from Operations decreased 118% from 2018, turning operations profitable. Net Loss reduced 67% from 2018. Net Cash used in operations decreased 66% from 2018. Management commentary:  Patrick Bertagna, GTX Corp CEO. In these unprecedented times we want […]

Read More

GTX Expands Testing of New Hearing Protection Solution to Sri Lanka, Peru and Las Vegas

LOS ANGELES, CALIFORNIA, March 9, 2020GTX Corp (OTC: GTXO) (GTX), a pioneer in the field of GPS wearable technology people & asset tracking, today announced receiving test orders for their recently launched noise reduction system NRBz, from the Sri Lanka Ministry of Defense and from a distributor in Peru which specializes in solutions for the health, mining and transportation industry. NRBz are patented noise reduction ear buds designed to reduce loud background noise by up to 40 dB’s without attenuating low direct noise such as someone speaking to you. Ideal for military, law enforcement, first responders, hunters, recreational firearms users, mining, oil, utility and gas workers, race car drivers, motorcycle riders and people with autism or hyper-sensitivity to loud noises but still need to clearly communicate with other people around them. In fact this past weekend several of the 550 race teams from over thirty different states and seventeen different […]

Read More

GTX Corp Signs Agreement with Hearing Armor and Launches New Wearable Tech Hearing Protection Product Under its Health & Safety Platform

LOS ANGELES, CALIFORNIA, February 19, 2020GTX Corp (OTC: GTXO) (GTX), a pioneer in the field of GPS wearable technology, people & asset tracking Location-Based Services (LBS) and Real-Time Location Systems (RTLS), today announced the launch of a new patented wearable technology noise reduction system designed to protect the wearer from loud background noises, without interfering or drowning out direct verbal communication. The patented noise reduction ear buds or NRBz are designed to reduce loud background noise by up to 40 dB’s without attenuating low direct noise such as someone speaking to you. Perfect for military, law enforcement, first responders, hunters, recreational firearms users, oil and gas workers, race car drivers, motorcycle riders and people with autism. Basically, anyone who is exposed or sensitive to loud noises but still needs to clearly communicate with people around them. The hearing protection system, invented by Dr. Rick Rogers, was originally created to provide […]

Read More

GTX Corp Launches New Health & Safety Platform

LOS ANGELES, CALIFORNIA, February 6, 2020 GTX Corp (OTC: GTXO) (GTX), a pioneer in the field of GPS wearable technology, people & asset tracking Location-Based Services (LBS) and Real-Time Location Systems (RTLS), today announced the launch of its new Health and Safety suite of products. This new platform will focus more on NFC, BLE and IoT technology along with other patented technologies to produce a variety of health and safety products that can be used alone or integrated across a wide array of vertical markets and applications. While the Company is staying true to its ethos of wearable technology, this Health and Safety platform will expand beyond footwear and the senior community, which is what GTX Corp is most well known for. Some of the new channels will be hospitals, schools, oil and mining, construction and the art world, adding to its existing channels serving seniors, Alzheimer’s, autism, military and […]

Read More

GTX Receives Initial Test Order from Sri Lanka Ministry of Defense

LOS ANGELES, CALIFORNIA, January 21,2020 GTX Corp (OTC: GTXO) (GTX), a pioneer in the field of wearable GPS, people and asset tracking Location-Based Services (LBS) and Real-Time Location Systems (RTLS), today announced it has received an initial test order from the Sri Lanka Ministry of Defense. Over the past twelve months, GTX has been working with the Sri Lanka government to get its GPS and Track & Trace solutions approved for sale and import into the country as part of a large scale requirement from the Sri Lanka Army, Disaster Management Centre, and Centre for Research and Development under the Ministry of Defense initiative to tag, track and locate (TTL) their personnel and equipment. Shortly following the Sri Lanka government approving their 2019 annual budget of $17.5 billion, GTX received an Official Letter and Certificate (registration number F191478) approving GTX as a registered supplier for the year 2019 under the […]

Read More

GTX Corp Reports Third Quarter 2019 Financial Results and Corporate Summary Update

LOS ANGELES, CALIFORNIA, November 18, 2019 GTX 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 a summary for the Third Quarter ended September 30, 2019. Third Quarter 2019 Financial Highlights: Revenues for the three months ended September 30, 2019 were approximately $340,000 compared to approximately $195,000 for the comparable period in the prior year for an increase of approximately $145,000, or 74%. Gross Profit Margin for the three months ended September 30, 2019 was 89% compared to 77% for the three months ended September 30, 2018. This increase in margin is primarily due to the increase in higher margin IP licensing, Professional Services and subscription revenue during these periods. Income from Operations for the three months ended September 30, 2019 was $73k as compared to ($227k) for the comparable period in the prior […]

Read More

GPS SmartSoles Expand Government Supported Distribution in Europe

LOS ANGELES CALIFORNIA, October 10, 2019 GTX 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 U.K. distributor Possum, has begun supplying the GPS SmartSoles to various local and national government authorities, housing associations and National Health Services (NHS) departments, along with expanding distribution into private sector entities.   As GTX continues to expand its distribution across the U.K. The GPS SmartSole is now being used on patients in over 45 local health authorities including Scottish Borders, Warrington, Rotherham and the London Borough of Newham; major national Care Homes like Gracewell Healthcare and Sunrise Senior Living as well as numerous resellers of medical supplies and National Equipment Providers to the National Health Service (NHS) like Millbrook Healthcare. “We are excited to see the distribution and interest of the GPS SmartSole grow across […]

Read More

GTX Corp Reports Second Quarter 2019 Financial Results and Corporate Summary Update

LOS ANGELES, CALIFORNIA, August 20, 2019 GTX 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 a summary for the Second Quarter ended June 30, 2019. Second Quarter 2019 Financial Highlights: Revenues for the three months ended June 30, 2019 were approximately $842k compared to approximately $147k for the comparable period in the prior year for an increase of approximately $695k, or approximately 472%. Gross Profit Margin for the three months ended June 30, 2019 was 92% compared to 71% for the three months ended June 30, 2018. This increase in margin is primarily due to the increase in higher margin IP licensing, subscription services and military sales and service revenue during these periods. Gain from Operations for the three months ended June 30, 2019 was $412k as compared to ($248k) for the comparable […]

Read More

ShipChain and GTX Corp Launch Global NFC Blockchain Shipment Tracking Solution

New partnership will track temperature-sensitive shipments using energy-efficient NFC smart tags LOS ANGELES CALIFORNIA July 17, 2019 – Blockchain-based logistics ShipChain and GTX Corp (OTCQB: GTXO), a global tech leader offering a suite of GPS and NFC tracking location-based services, today announced a new partnership for a new global NFC blockchain shipment tracking solution. Under the agreement, ShipChain will use GTX’s temperature enabled NFC smart tags to track temperature-sensitive shipments. The tag requires no scanners, or wires, and records temperatures based on customer-defined intervals and durations. In addition, GTX offers other NFC products that ShipChain will utilize to optimize its Track and Trace Platform. “ShipChain’s new partnership with GTX is another step toward reaching our goal: a transparent, unified, end-to-end logistics platform,” said John Monarch, ShipChain CEO, “Until now, availability and cost of sensors was always a stumbling block. But GTX’s smart tags – integrated into ShipChain’s track and trace […]

Read More

GTX Corp Announces Sale and Licensing of Patents and Technology to Inpixon

Core Footwear Tracking Business and IP Protection Retained by GTX Proceeds to Advance GTX Wearable Tech Development Pipeline LOS ANGELES, CALIFORNIA, July 8, 2019 — GTX Corp. (OTCQB: GTXO) (“the Company”), a pioneer in the field of wearable GPS, people and asset tracking Location-Based Services and Real-Time Location Systems, today announced that it has sold two patents and certain other assets and also provided two separate patent licenses to Inpixon (NASDAQ: INPX) in exchange for a combination of cash and shares of Inpixon common stock. More information regarding the transaction is available in the Form 8-K filed by GTX with the U.S. Securities and Exchange Commission. Inpixon, a leading indoor positioning and data analytics company based in Palo Alto, CA, entered into this transaction with GTX to acquire certain outdoor GPS-tracking technology and license intellectual property to expand the breadth of available systems it can offer to enterprise and government […]

Read More