- Billion dollar wearable tech market set to hit $34 billion by 2020
- GPS tracking technology is basis for diverse range of consumer and military products
- GTXO to execute reverse split as part of plan to uplist to OTCQB Venture Exchange
It’s no fun being lost, not for you nor for anxious loved ones imagining the worst. At times like that, a lot can go wrong, particularly for young children or adults suffering from cognitive disorders such as Alzheimer’s disease. Luckily, solutions developed by GTX Corp (OTC: GTXO) can make a difference. The company has created a range of tracking technologies that provide comfort and safety and make it a pioneer in the GPS wearables market. Its premier product is the award-winning GPS SmartSole®, which is the world’s first invisible wearable tracking device designed specifically for people at risk of becoming lost or disoriented. With GTX Corp’s proprietary technologies and products, there’s no need for a lost and found, since you can’t find what you never lost in the first place.
More than 16 million people in the U.S. are currently suffering from some form of cognitive impairment, according to the CDC. This number is likely to increase dramatically in the coming years as lifespans go up. Alarmingly, the most familiar form of cognitive impairment, Alzheimer’s disease, afflicts an estimated 5.1 million Americans aged 65 years or older, a number that’s set to rise to 13.2 million by 2050 (http://nnw.fm/1b7UP). Cognitive impairment takes an exacting toll on sufferers. Its symptoms include impaired judgment, vision problems, inability to recognize familiar people and places, changes in mood and memory loss. The latter can turn an innocuous environment into a decidedly hostile one, provoking behavior that creates additional problems. In such a situation, despite being unsure of where they are and how to go forward, someone wearing one of GTXO’s tracking devices can rest assured that they will be easily located. In addition to its practical search-and-rescue benefits, GTXO technology will provide loved ones with a reassuring degree of comfort.
Its flagship product, the GPS SmartSole, hides unobtrusively inside one’s footwear as a shoe insert, and though it will, undoubtedly, find application in domestic situations, such as protecting a child, a senior or an adult with some disability, it can obviously be deployed in commerce, law enforcement, the military and personal security applications. The patented GPS enabled “smart” insoles allow for monitoring of the whereabouts of loved ones who may be susceptible to wandering or at risk of becoming disoriented and lost. Their location can be tracked through any smartphone, tablet or desktop web browser, with notifications by text or email if they leave or enter defined areas on a map.
GTX Corp has also designed its innovative technology into a number of consumer and military products. The Take-Along Tracker is a miniaturized GPS tracking device that is less than three inches long, weighing less than three ounces. It’s easy to use, since it can be put in a purse or pocket or attached to a keychain, lanyard, backpack or belt buckle. The VOICE model has a built-in speaker phone. The Invisabelt, designed for young children, has a GPS chip hidden in a secret waistband pocket. The Track My Workforce App helps employers keep tabs on staff working outside the office, while the Personnel Equipment Tracking System, currently in use at Edwards Air Force Base, allows real-time monitoring and surveillance of personnel and assets and has 200+ square mile coverage. Its solar powering capabilities and extended battery life make it ideal for deployment in areas without existing power sources.
The GPS Rifle Tracker is the company’s smallest GPS tracker, designed to withstand shocks and water submersion due to its robust, military standard enclosure. It can be mounted on any AR15 platform picatinny rail to detect weapon discharge, track weapons and inventory and send time and location alerts. With such a formidable portfolio, GTX Corp is unlikely to lose its way in the fast developing wearable tech market, which is conservatively estimated at $6 billion currently and set to grow to $34 billion, according to Forbes (http://nnw.fm/TDj8P).
GTX Corp is now in final preparations to enact a reverse stock split that will bring the company’s share price above $0.10, making GTXO stock eligible to be uplisted to the OTCQB Venture Exchange (http://nnw.fm/oRn2b).
Announcing the news, Patrick Bertagna, CEO of GTX Corp, commented, “This is a long-term plan the company’s board and management have been strategically working on over the past several months in order to make the public side of the business more reflective of the positive milestones and forward progress achieved in recent months, along with positioning the company for the future. The company has experienced an overall solid first quarter, with double-digit increases or decreases in all the major metrics – revenues were up, subscribers were up, margins and profits were up, while cost of operations, professional services, G&A and net losses decreased. GTX Corp also successfully completed the delivery of its first large-scale military contract. In addition to these achievements, the company has also secured a strategic financial partner that has begun providing funding and will continue to provide the growth capital needed throughout 2018 and 2019 in order to support long-term success.”
For more information, visit the company’s website at www.GTXCorp.com
More from NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
For more information, please visit https://www.NetworkNewsWire.com