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GTX Corp Finishes Delivery of Initial Military Order and Comments on 2017 Financial ResultsLOS ANGELES, April 10, 2018 (GLOBE NEWSWIRE) -- GTX Corp (OTCBB:GTXO), an Internet of Things (IoT) solutions provider in the personal location, wearable and wandering assistive technology business, announced today the completion of its initial military order and commentary on the Company’s 2017 summary highlights for year-end December 31, 2017. Management commentary: We made some tough decisions, had some disappointing setbacks on the IP front but overall 2017 was a good year in terms of positioning GTX Corp for the future.
These initiatives are transformative for GTX Corp. Last year at this time, we mainly sold GPS SmartSoles and were exploring the military, kid’s products and biometrics, this year we have these products and we have begun to make and sell these new products into new markets. We are a much more diverse company today than last year, we have a much broader target audience and we are much better positioned for long term growth. Our sales did not increase in 2017, however we have deferred revenues for future orders which validates our new products. And with limited working capital we still accomplish everything we set out to do and said we would do last year in terms of new product development and market expansion. As a for-profit with Purpose Company, all our relationships are important and integral to our growth so we want to thank our customers, vendors, partners, shareholders and all the stakeholders that continue to support us on our journey. GTX owns and licenses more than 85 patents, is a U.S. military contractor and has multiple consumer products in the market place, all available on its online store, Amazon and authorized resellers and distributors across the globe. GTX Corp (GTXO) is a pioneer in Smart, Mobile and Wearable GPS tracking and recovery location based products, supported through a proprietary IoT enterprise monitoring platform. GTX offers a global end-to-end solution of hardware, software and connectivity. The Company develops 2 way GPS tracking technologies which seamlessly integrate with consumer products and enterprise applications. GTX Corp utilizes the latest in miniaturized, low power consumption GPS, Cellular, RF and BLE technology enabling subscribers to track in real time the whereabouts of people or high value assets through a complete end to end - customizable transceiver module, wireless connectivity gateway, smart phone Apps, middleware, and IoT portal. Headquartered in Los Angeles, California, GTX is known for its 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 Corp’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 US Military Government contractor. Other customers include public health authorities and municipalities, emergency and police authorities, private companies, public and private senior care homes, and consumers. GTX Corp is an equal opportunity employer with a history of employing a diverse workforce and US veterans; makes many of its products in the USA, is a member of the United Nations Global Compact and Trust 2 Protect partnership. The Company doesn’t just make and sell the best GPS tracking products, they deliver innovative, miniaturized, low power consumption wearable tech that provides safety, security and peace of mind at the touch of a button. GTX puts the "Where" in Wearable Tech. Online: www.gtxcorp.com Track My Workforce | GTX Corp www.gpssmartsole.com Social media - #withyou #smartsole #connectedandprotected #trackwhatyoulove GTX Blog http://gpsinsole.com/ Consumer Purchase of GPS SmartSoles General information, investor relations, wholesale licensing, consumer purchase: GTX Corp United Kingdom Disclaimer: GTX Corp does not warrant or represent that the unauthorized use of materials drawn from the content of this document will not infringe rights of third parties who are not owned or affiliated by GTX Corp. Further GTX Corp cannot be held responsible or liable for the unauthorized use of this document’s content by third parties unknown to the company. Forward Looking Statements |