GTX Corp. (OTCQB: GTXO) operates within research, development, and deployment of smart, mobile, and wearable GPS tracking and recovery location products, which are supported through an Internet-of-Things (IoT) monitoring platform. Through its extensive technology, GTX Corp. provides two-way GPS tracking and related capabilities that have the ability to be integrated across consumer & enterprise applications. Shares of the GPS technology company jumped 35.70% during trading on Friday, May 17, 2019. Over the past month, GTX Corp. has seen average daily volume of 321,303 shares. However, volume of 819,214 shares or dollar volume of $11,116, exchanged hands during trading on Friday.
Shares of GTX Corp. rallied on Friday, after the company announced it has been awarded a contract to install its tagging, tracking 7 location (TTL) GPS system at the Hill Air Force Base in Utah. The initial order is estimated to be shipped and begin phase 1 testing in June 2019. Hill AFB is the second military base to utilize GTX Corp.’s GPS platform. Edwards Air Force Base in California was the first military base to use GTX tech. Here is the full press release detailing of the contract:
GTX Corp. Press Release:
LOS ANGELES, CALIFORNIA, May 17, 2019 (GLOBE NEWSWIRE) — GTX Corp (OTCQB: GTXO) (“the Company”), a pioneer in the field of wearable GPS, people and asset tracking Location-Based Services (LBS) and Real-Time Location Systems (RTLS), today announced that it has been awarded a new contract for an initial installation of its versatile and scalable military-grade tagging, tracking & locating (TTL) GPS platform at Hill Air Force Base in Utah (Hill).
GTX Corp’s GPS Platform was developed for large-scale installations such as military bases. Hill is the second U.S. military base that plans to deploy the Personnel, Equipment Tracking System (P.E.T.S.), a lightweight, mobile, non-cellular, GPS technology platform designed to track personnel and equipment over a large remote area. The initial order is expected to be shipped and scheduled for phase I testing in June.
“After the success we have had at Edwards Air Force Base in California, we are pleased to have received a new contract from another Air Force base,” said Patrick Bertagna, CEO of GTX Corp. “We are very supportive of the U.S. Armed Forces and not only proud that many of our products are made in the U.S. but also honored to have been chosen for this new military project. As part of a long term roadmap, our team has been working with the Hill team on a next generation system which will include several enhanced custom features and as part of the contract we will be demonstrating the new concepts while on site next month.”
The proprietary GPS system is designed to monitor the location and movement of both human and non-human assets, but due to their remote locations or lack of conventional cellular coverage, requires the devices to transmit data through RF technology, report latitude and longitude coordinates every second, and encrypt the data.
About GTX Corp
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. GTX Corp 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 U.S. Military Government contractor. Other customers include public health agencies 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 U.S. 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://gtxcorp.com/press/
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
This news release contains forward-looking statements. The terms and phrases “expects,” “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 in light of 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 by law.