Category Archives: Press Releases (GTXO)

GTX Reports 2018 Financial Summary

Revenue increased 28%, Product Sales increased 49%, Subscribers increased 20% LOS ANGELES CALIFORNIA, April 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 year ended December 31, 2018. 2018 Financial Highlights Overall Revenue increased 28% over 2017 comparable period. Product Sales increased 49% over 2017 comparable period. International Subscribers increased 21% over 2017 comparable period. Domestic Subscribers increased 19% over 2017 comparable period. Military Sales increased 322% over 2017 comparable period. Gross Margin, excluding IP, increased from 50% to 67% from 2017. Loss from Operations decreased 1% from 2017. Cash used in Operations reduced 34% from 2017.   Management commentary: Patrick Bertagna, GTX Corp CEO.   As highlighted above, we had solid double-digit increases or decreases in the major metrics we measure – overall revenues […]

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GTX Awarded Supplier Registration Certificate from Sri Lanka Ministry of Defense

LOS ANGELES, CALIFORNIA, March 28, 2019 GTX Corp (OTCQB: 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 been awarded a Supplier Registration Certificate from the Sri Lanka Ministry of Defense. Over the past six months, GTX has been working with the Sri Lanka government to get its line of military-grade GPS tracking 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 to tag, track and locate (TTL) their personnel and equipment. “We have been diligently working with Major General (retd) Fadyl Meedin RSP Ldmc, from the Space Technology & Solutions (Pvt) Ltd to provide all the necessary requirements in order for GTX to become an approved Sri Lanka […]

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GTX Corp Issued Two New Patents

LOS ANGELES, CALIFORNIA, February 28, 2019 GTX Corp (OTCQB: 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 been issued two new patents by the United States Patent and Trademark Office (USPTO). GTX’s vast Intellectual Property (IP) portfolio underpins its business lines. Since the start of the year, the IP legal team has been busy adding these two new patents to the portfolio, filing additional claims through the ongoing continuation process and negotiating licensing agreements. The GTX patent portfolio addresses three core areas: Footwear, Communication and Backend Server. Of the two newly issued patents, one is in the Communication family and the other is in the Footwear family. “These latest patents are important additions to GTX’s overall portfolio,” commented Larry Henneman, Esquire, GTX’s lead patent attorney. “The ongoing investment in IP demonstrates GTX’s […]

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GTX Signs Collaboration Agreement with Flint Rehab

LOS ANGELES, CALIFORNIA – February 6, 2019 – GTX Corp (OTCQB: GTXO) (“GTX” or the “Company”), a pioneer in the field of wearable GPS, human and asset tracking systems and wandering assistive technology, today announced that it has signed a collaboration agreement (the “Agreement”) with Flint Rehab, LLC, a leading neuro-rehabilitation device company that specializes in next-generation digital health technologies. By the Agreement, GTX and Flint Rehab will develop a next generation SmartSoleÒ noninvasive GPS wearable tracker for those who wander, which will include location-based GPS technology, biometric activity sensors and machine learning. “We are very excited that GTX has been selected to collaborate with Flint Rehab in the new development of the next version SmartSoleÒ GPS footwear that will include activity tracking to promote senior wellness,” commented GTX’s CEO, Patrick Bertagna. “By having sensors for tracking and biometrics, and utilizing both the left and right soles, we will be […]

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GTX Corp Secures a $500,000 Revolving Line of Credit for Product Financing and Signs up Two New Distributors

LOS ANGELES CALIFORNIA, January 3, 2019 GTX Corp (OTCQB: GTXO) (“the Company”), a pioneer in the field of wearable GPS human and asset tracking systems and wandering assistive technology, today announced securing a revolving line of credit for production financing, and onboarding two new distributors, one in Canada and the other in the U.S. A private institutional partner will provide inventory and production financing in the form of an interest and royalty based credit line, whereby the Company can draw down on an as needed basis upon product demand and receipt of purchase orders. The initial credit line is for $500,000 and based on payment history and product demand the lender may increase the line to three million dollars. This credit line will provide the Company growth capital without taking on more convertible debt. The Company also signed up two new distributors which officially launched SmartSole sales over the Holidays. […]

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GTX Corp Third Quarter 2018 Summary

Revenue increased 12%, Product Sales increased 43%, Subscribers increased 62% LOS ANGELES CALIFORNIA, November 27, 2018 GTX Corp (OTCQB: GTXO) (“the Company”), an Internet of Things (IoT) solutions provider in the GPS wearable location and wandering assistive technology business announced today a summary for the third quarter ended September 30, 2018. Third Quarter Financial Highlights Overall Revenue increased 12% over 2017 comparable period. Product Sales increased 43% over 2017 comparable period. International Subscribers increased 120% over 2017 comparable period. Domestic Subscribers increased 33% over 2017 comparable period. COGS decreased 31% from 2017. Gross Margin, excluding IP, increased 34% from 2017. Wages & Benefits decreased 3% from 2017. Other expenses decreased 87% from 2017. Nine Month Financial Highlights Overall Revenue increased 31% over 2017 comparable period. Product Sales increased 73% over 2017 comparable period. Subscriber Revenue increased 20% over 2017 comparable period. Total Subscribers increased 73% over 2017 comparable period. COGS decreased […]

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GTX Corp Approved for Listing on the OTCQB Venture And will be Presenting at the SoCalBio Smart Wearable 2nd Annual Digital Health Conference

LOS ANGELES, CALIFORNIA – October 31, 2018 – GTX Corp (OTCQB: GTXO), an Internet of Things (IoT) solutions provider in the wearable GPS location and wandering assistive technology business, announced today it has received approval to be upgraded to the OTCQB Market. Beginning today GTX Corp shares will trade on the OTCQB Venture Market. To qualify companies must be current in their reporting and undergo an annual verification and management certification process. Investors will now be able to find Real-Time quotes and market information for the Company on www.otcmarkets.com.   GTX Corp will also be presenting at the 2018 2nd Annual SoCalBio’s Digital Health Conference which will be held November 9 at Hotel Maya in Long Beach, California. Fifteen Los Angeles based companies will showcase their latest medical-grade smart wearables for fitness, remote monitoring, elderly care, disease management and healthcare workflow.   GTX Corp’s Chief Executive Officer, Patrick Bertagna, will […]

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GTX Corp Launches New Pet Tracker with NFC Digital ID System

LOS ANGELES, CALIFORNIA – October 1, 2018 – GTX Corp (OTCBB: GTXO) (“the Company”), an Internet of Things (IoT) solutions provider in the GPS wearable location and wandering assistive technology business, announced today the launch of its new GPS tracker and Near Field Communication (NFC) digital ID system Rover Tracker. In addition to providing on demand GPS location information, Rover Tracker will also include Near Field Communication (NFC) technology, creating a secure link connecting your real time profile and contact information to the person who finds your pet. The GPS Rover Tracker will be the first GTX product to include NFC technology which will enable the Company to demonstrate the value of providing a unique single physical and digital ID with real time location and information delivery. The pairing of GPS and NFC supports GTX Corp’s expansion into blockchain security and asset management across multiple distribution and supply chains. The […]

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Norwegian Government Awards GTX Corp Distributor a Two Year contract to Supply GPS Tracking Devices

LOS ANGELES, CALIFORNIA – September 12, 2018 – GTX Corp (OTCBB: GTXO) (“the Company”), a pioneer in the field of wearable GPS human and asset tracking systems and wandering assistive technology, announced today Scandinavian distributor, SafeCall was awarded a coveted 2 year contract to supply the municipality of Oslo, Norway with wearable GPS devices along with a 24/7 cloud service center to assist in remote monitoring and look after people with cognitive disabilities. The Norwegian Government has identified two target groups which will receive the fully subsidized solution, elderly people with dementia and cognitive impairment who still live independently, and children or adolescents with disabilities, especially who are the most “at risk” and therefore would benefit from using wearable GPS technology.   Post being award the contract, GTX launched its size small SmartSole which is now being considered to be added to the contract by the Oslo municipality.   “We […]

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GTX Corp Awarded New Military Contract

Air Force Awards Contract for Personnel/Equipment Tracking System LOS ANGELES, CALIFORNIA – September 5, 2018 – GTX Corp (OTCBB: GTXO) (“the Company”), an Internet of Things (IoT) solutions provider in the wearable location and wandering assistive GPS technology business, announced today it has received a new contract from Edwards Air Force Base (AFB) for additional units of its Personnel, Equipment Tracking System (P.E.T.S.), which is a lightweight, mobile, non-cellular, encrypted GPS technology platform designed to track personnel and equipment. This highly versatile and scalable military-grade tagging, tracking & locating (TTL) GPS platform was specifically developed by GTX Corp for large-scale installations and military bases that need to monitor the location and movement of both human and non-human assets, but, due to their remote locations or lack of conventional cellular coverage, require devices that can transmit data through RF technology, report latitude and longitude coordinates every second, and encrypt the data. […]

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