Financing and New Product
Launch Positions Company for Subscriber Base Growth with a Broad Range of “Smart”
Applications
Los Angeles, CA – November 19, 2013 – GTX Corp (OTCQB: GTXO),
a pioneer in wearable technology and embedded GPS monitoring and real time
tracking solutions, released the following
letter to its shareholders related to third quarter results and a look ahead with
new product
introductions, new channel partners and increasing subscriber base strategy.
Highlights from this letter are:
·
Secured sufficient
financing from institutional investor through mid 2014
·
Development of sales channel strategies for core
product deployment
·
Completed strategic
agreements with Atlantic Footcare and Tracker.com
·
Increased our IP
portfolio
Dear Shareholders,
In the third quarter, we focused our efforts on
securing the capital needed to execute on our plan, and positioning our
business for high volume deployments. With our funding now secured through mid
next year, our primary focus going forward is on executing our pipeline of
business development. We are constantly striving
to increase ways to grow our subscriber base, whether they are deployed in
insoles, shoes, backpacks, containers, smart phones or the like. We generate monthly recurring revenues from
our line of SMART (Satellite Monitoring and Real-time Tracking) hardware and
software, which is where the long term value of our business resides. Our current results as disclosed in our
September 30, 2013 filing do not detail out our base deployed devices; however,
we do plan to release these metrics in 2014 as our business continues to grow.
Historically we have relied upon channel partners
for sales and marketing of products that embed our technology. In the third quarter, upon securing new
funding, we made the strategic decision to include and add direct to consumer
(B2C) sales for certain products and markets. We expect to formally launch some
of these products in the first quarter of 2014.
To prepare for this launch, we have commenced development of a B2C
ecommerce platform and certain marketing initiatives, including building a
direct response strategy that we believe will have a significant effect on growing
our brand and subscription base in 2014.
In addition to our existing channels, we are also pursuing the
children’s footwear market, certain cleantech programs, and new international
markets such as Switzerland, Austria and Germany.
In our LOCiMOBILE subsidiary, we have also begun
a new sales initiative with our TrackMyWorkForce app. We have seen an increase
in our user base primarily from the pharmaceutical industry and expect this niche
market to contribute to the growth of our subscription base in 2014, especially
as we expand our marketing efforts and automate our ecommerce engine.
Our team remains deeply committed to the long
term value of GTX Corp, our progress on corporate and strategic fronts and the
ability to deliver game changing and potential life saving solutions. Thank you
for your continued support and we look forward to 2014.
Patrick Bertagna, CEO, GTX Corp.
About GTX Corp (GTXO) –
GTX Corp. is a pioneer in wearable
technology and a leader in enterprise 2 way GPS real-time personal location
based services. Known for its game-changing and award-winning patented GPS Smart Shoe, its
block buster Smartphone GPS
Tracking App, and GPS
SmartSole, GTX offers a robust enterprise GPS
and cellular location platform that provides real-time tracking of the
whereabouts of people, pets, vehicles and high valued assets.
GTX provides solutions that
answer the “where is” question through a licensing business model and providing
a complete end to end solution of hardware, software, apps, connectivity and
professional services. Letting you know where or how someone or something is at
the touch of a button, GTX Corp also owns and operates LOCiMOBILE, Inc which develops
applications for smart phones and tablets and Code Amber Alertag. The Company has
an aggressive intellectual property strategy and owns an extensive portfolio of
patents, patents pending, registered trade marks, copy rights and URL's.
Online: www.gtxcorp.com - www.facebook.com/gtxcorpcom -
www.twitter.com/gtxcorp
Product and licensing e
mail - info@gtxcorp.com or http://www.gtxcorp.com/about/licenseinquiry
Investor Relations ir@gtxcorp.com
GTX Corp does not warrant or represent that the unauthorized
use of materials drawn form 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.
# # # #
