April 26, 2022 11:50 AM
Read full article: https://www.benzinga.com/markets/penny-stocks/22/04/26818695/the-longevity-revolution-has-begun-this-early-pioneer-in-the-wearable-technology-industry-sa
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The “Longevity Revolution”, as GTX Corp’s GTXO CEO Patrick Bertagna refers to it, is the convergence of technological advances in self-health monitoring, hyperawareness of how an individual’s health conditions affect their overall ability to survive viruses and diseases, and Artificial Intelligence (AI) to make sense of terabytes of data instantly resulting in people being able to extend their lives through collecting and monitoring vital medical stats regularly.
According to Grand View Research, the global wearable medical device industry was valued at $21.3 billion in 2021. By 2030, the market research firm estimates the global industry will be worth around $196.6 billion. This represents an impressive compound annual growth rate (CAGR) of 28.1% between 2022 and 2030.
Due to the size of the projected market, many billion-dollar companies, like Apple and Samsung, and smaller players as well have jumped into the space to create amazing products to help people to join the “Longevity Revolution.”
Why GTX Corp?
Let’s look at what GTX Corp has been doing over the past several years:
GTX’s vision was to create the world’s first invisible tracking device for humans. This idea came from the highly publicized Elizabeth Smart abduction. The company formalized, filed, and was granted patents around the communication between a device and a server providing location information but also information about the location and its surroundings. All of this was patented before the first iPhone. The company continues to receive additional Patents and Continuations on their existing Patents as recently as December 2021.
Since the beginning, GTX Corp has prided itself on being a “For-Profit with Purpose” Company. As such, they have focused on a niche part of the market where the value they provide is often the difference between life and death. Many of us may remember the heartbreaking story of Avonte Oquendo, a 14-year-old boy with Autism who eloped while at school in Long Island City. This created a city-wide manhunt to no avail as Avonte’s body was found months later decomposing in the east river. It is this type of tragedy that GTX’s technology helps prevent every day.
GTX’s most notable product is its award-winning GPS SmartSole® which is a seamless GPS-enabled wearable device whose target market is people with cognitive disorders such as Autism, Dementia, Traumatic brain injury, and Alzheimer’s. These groups tend to wander. Although this is a niche segment these groups together represent a little less than three percent (3%) of the world’s population with over thirty-four million (34,000,000+) in go-to market-ready developed countries. GTX Corp has already begun distributing in over 20 countries.
Having been at the forefront of the commercialized use of GPS, GTX has also provided and continues to develop tracking solutions for high-value assets and people on behalf of governments, military as well as private institutions, and individuals. GTX Corp is a U.S. General Services Administration-approved (GSA) military and government supplier.
Over the past 3 years, GTX has survived the pandemic while at the same time reducing its debt and having no variable convertible debt on its balance sheet. One of the keys to surviving the pandemic was GTX’s management’s commitment to the business. GTX’s upper management all participated in differing a portion of their compensation which will allow them to convert up to 50% into stock at a future date. This commitment to being “All In” with a belief in a bright future for the company’s stock is a virtue found in many of the best companies in the world.
GTX’s business model is a recurring/subscription revenue model that includes revenue from initial purchases and then a monthly subscription fee. Think cell phone model.
What’s the tipping point for “Overnight Success”?
The “Longevity Revolution” involves the ongoing safe collection of data for monitoring health along with governments around the world committing to protecting some of the most vulnerable members of their societies.
In reviewing recent press releases filings and what the company is saying, a trend is beginning to emerge.
On April 14, 2022, it was announced that “SmartSole® (are) Live in Japan!” This is significant because although the SmartSole® have been commercially available for years in other parts of the world they were previously unable to connect to Japan’s cellular network. GTX’s rollout of their 4G SmartSole® now opens Japan as a new market for sales. Japan is a rich country with a large population and a much older population than many other countries, which increases the market opportunity value for GTX.
On April 12, 2022, GTX filed its 2021 10K Annual Report. In this filing, the company reported a buildup in inventory. This is significant because it suggests an anticipated increase in demand. “In 2022, our core focus will be ramping up production of our next generation of SmartSoles®,” The devices, which are shoe inserts with GPS chips, utilize new technologies like CatM1, NB-IoT, enhanced Wi-Fi, and Bluetooth to provide tracking and monitoring data for caregivers. The product is also the world’s first “invisible” wearable tracking and monitoring technology. The newest generation of the device uses algorithms to monitor multiple human functionalities, sending that data to a secure server to be monitored.
On April 21, 2022, GTX announced that after working on an agreement for 2 years, with Swedish distributor, Posifon AB, they signed an agreement with the National Healthcare of Sweden to distribute SmartSole® through their 300+ healthcare organizations. This is significant not only because Sweden has over 10 million people covered by the Health and Medical Service Act but also Sweden and Europe tend to be leading indicators of what’s to come in the United States. In the United States SmartSole® has already been approved by 11 states for Medicaid reimbursement. The next logical step is to get it approved for Medicare which provides medical payment/reimbursement for approximately 64 million Americans aged 65 and older or younger persons with disabilities.
SmartSole® isn’t just smart. It’s safe. Data is sent and stored on GTX’s cloud-based servers, and the company uses secure 4G cellular networks to guard against breaches and data corruption. They also don’t sell data, which is a common complaint with larger, open platforms like Google and Facebook. That’s part of their appeal to caregivers and medical professionals.
In October 2021, GTX Corp filed an offering statement (Reg A) with the SEC to sell 86,677,500 shares of their common stock at $0.03 per share, with a minimum investment of $10,000. The money is being earmarked for prepaid inventory, product development, and IP monetization. As of April 25, 2022, the company had already sold 5,000,000 shares at $0.03 as part of this offering. At a premium to the market this is a good indicator of management’s higher valuation belief and confidence in their strategic roadmap.
Overall, GTX Corp presents an enticing opportunity to capitalize on the strong growth in wearables and NFC-enabled blockchain technologies. The company has maintained financial clarity by reducing its debt load and preparing to capitalize on its growth plans for SmartSole® through prepaid inventory. Now GTX is ready to focus on sales and marketing to fuel its next stage of growth.
For more information on GTX Corp. and its products, please visit the links below:
Social Media Hashtags – #withyou #smartsole #connectedandprotected #trackwhatyoulove #iot #smartproducts #nfc #ble #safety #healthcare #veritap #exceptionmonitoring #assettracking #coronavirus #face mask #covid19
GTX Blog https://gtxcorp.com/press/
https://www.facebook.com/gtxcorpcom
https://www.linkedin.com/in/gtxcorp
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Forward Looking Statements
This news release contains forward-looking statements. The terms and phrases “expect,” “would,” “will,” “believes,” and similar terms and phrases are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by GTX considering its experience and its perception of current conditions and expected future developments, as well as other factors that GTX believes are appropriate in the circumstances. Many factors could cause GTX’s actual results, performance, or achievements to differ materially from those expressed or implied by the forward-looking statements. Certain risk factors that may cause actual results to differ are set forth in GTX’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (which may be obtained on the SEC Website). These factors should be considered carefully, and readers should not place undue reliance on GTX’s forward-looking statements. GTX has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required.