By Editor / Curator -June 16, 2021
GBT Technologies and GTX Corp. Enter into an LOI for Proposed Worldwide Licensing for Manufacturing, Sales, and Distribution
“You can’t rely on them putting something around their neck,” said GTX Corp CEO Patrick Bertagna. “It can stigmatize them, so that’s where the whole wearable concept came about– putting something that’s invisible and can’t be seen. Slip it into their shoes, and every time they walk out of the door they have a tracking device on them.”
GBT Technologies signs Letter of Intent (“LOI”) with GTX Corp., to develop a framework of cooperation between the companies to evaluate the viability and market size of the Company’s Intellectual Property and product line for worldwide exclusive licensing rights to manufacture, sell and distribute their products.
“We believe this proposed relationship with GTX can improve our go-to-market efforts for our IP and products. GTX’s proven extensive Global reach, experience in getting innovative products to market, and understanding of our technology were critical factors in our decision to enter into this agreement,” stated the Company’s Chief Technology Officer, Danny Rittman.
Illustrious GTX Corp Awards and Recognitions
Over the years, GTX Corp has been honoured by the industry and received several recognitions, including:
- Top 25 most empowering IoT companies
- Member of United Nations Global Compact
- Second place CTIA Awards (Microsoft came in 1st, GTX 2nd, and Samsung 3rd)
- AARP Top Ten New Technology
- Listed in Entrepreneur Magazine – 100 Brilliant Companies
- ABI Research identifies “GTX Corp paving the way into the next billion-dollar market – “Personal Tracking”
- GTX’s flagship product was exhibited in 100 most important inventions of mankind – Technology Museum in Sweden
- Won the People’s Choice Award for most innovative connected device
- GTX’s technology was selected by George Mason University for a 2-year study on Alzheimer’s
- Featured in a Google White Paper on location-based services
GTX Corp (GTXO) is a pioneer in smart, mobile, and wearable GPS tracking and recovery location-based solutions, supported through a proprietary IoT enterprise monitoring platform and intellectual property portfolio. GTX offers a global end-to-end solution of hardware, software, and connectivity and develops two-way GPS tracking technologies, which seamlessly integrate with consumer products and enterprise applications. GTX utilizes the latest in miniaturized, low power consumption GPS, Cellular, RF, NFC, and BLE technology, enabling subscribers to track in real-time the whereabouts of people or high-value assets.
GTX is known for its game-changing and award-winning patented GPS SmartSole ® — think Dr. Scholl’s meets LoJack, the world’s first invisible wearable technology tracking device created for those at risk of wandering due to Alzheimer’s, dementia, autism and traumatic brain injury. GTX’s business model is built around technology innovation and holds over 85 patents, with many issued patents in the area of GPS tracking.
The company has international distributors servicing customers in over 35 countries and is a U.S. Military Government contractor. Other customers include public health authorities and municipalities, emergency and law enforcement, private schools, assisted living facilities, NGOs, small business enterprises, senior care homes, and consumers.
During the first quarter of 2021, GTX began finalizing the design phase of their next-generation miniaturized GPS tracking device, which will utilize a host of new technologies, including CatM1, NB-IoT, enhanced Wi-Fi, and Bluetooth, for better accuracy, faster location requests, and less power consumption and started working on testing, certification and ordering parts and components in order to prepare for production and launch.
They also started working on a new version of their tracking app and new website. They also expanded their product offering under their hearing health product line and began the integration of Amazon Echo voice-assisted capabilities into their backend portal.
Read Full Release Here: GBT Technologies and GTX Corp. Enter into a LOI for Proposed Worldwide Licensing for Manufacturing, Sales and Distribution
Any relationship between the parties as contemplated by the LOI is subject to the parties coming to an acceptable commercial agreement, finalizing due diligence, entering into a material definitive agreement and other items.
Forward-Looking Statements – GBT
Certain statements contained in this press release may constitute “forward-looking statements”. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website ( http://www.sec.gov ). In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, governmental and public policy changes, the Company’s ability to raise capital on acceptable terms, if at all, the Company’s successful development of its products and the integration into its existing products and the commercial acceptance of the Company’s products. The forward-looking statements included in this press release represent the Company’s views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of the press release. GBT is a client of Institutional Analyst Inc., and has been compensated to provide coverage on the Company, please see reports for disclosure and disclaimer details.
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