LOS ANGELES, CA – November 19, 2015 – GTX Corp (OTCQB: GTXO), an IoT platform and leading provider of personal location GPS wearable technology and wandering assistive technology, announces the results of its financial performance for the third quarter ended September 30, 2015.
Third-Quarter Highlights
- Revenue increased 189% over 2014 comparable period
- Expenses decreased 169% over 2014 comparable period
- Net losses decreased 30% over 2014 comparable period
- GPS SmartSoles finish second( Microsoft first, Samsung third) at CTIA’s Super Mobility Awards”
- Signs global connectivity agreement with Telefonica
- Added 3 more European countries to distribution list
- SeeThruEquity initiated coverage with $.09 target price
“In Q3 2015 we held our course to expand channels of distribution, built strategic alliances by signing a global connectivity agreement with Telefonica, added several more distribution partners in Europe and began conversations within the U.S. with local and federal government agencies,” commented Patrick Bertagna, CEO of GTX Corp. “We also finalized development of our next-generation monitoring platform, GPS SmartSole® hardware and Bluetooth low energy BLE SmartSoles, which are scheduled for release by early 2016.”
GTX Corp’s GPS SmartSole® is a non-visible GPS tracking device designed to monitor the location of people who have a tendency to wander, such as those afflicted with cognitive memory disorders like Alzheimer’s, dementia, autism and TBI, as well as for people at risk of kidnapping, such as government employees and high level executives. The company’s flagship, patented GPS SmartSoles were recently showcased in Munich at the Telefonica Digital Innovation Day 2015, featured in AARP’s 2015 technology gear guide and came in second place, with Microsoft (NASDAQ: MSFT) finishing first and Samsung (OTC: SSNLF) taking third, in the 2015 Wearables, Health, Fitness & Wellness category at CTIA’s Hot for the Holidays…
For the remainder of the year, GTX Corp will continue to advance its next-gen technologies and take action aligned with its broader growth strategy, which includes:
- Increasing sales in all three product categories
- Growing and servicing partners and channels of distribution
- Scaling and streamlining manufacturing processes
- Reaching out to broader market segments, such as adults with autism and the security market
- Continuing pilot programs with assisted living facilities, local sheriffs and police departments
- Applying for additional reimbursement codes
- Working with local, federal and international government agencies
- Building brand and product awareness
- Increasing our social media footprint
- Building out corporate infrastructure to support growth in 2016
- Increasing our global subscriber base
“Together, these initiatives underwrite our corporate mission to build a best in class solution for the millions of people all over the world which need a simple, affordable and effective tracking and monitoring solution,” says Bertagna.