LOS ANGELES, CALIFORNIA, Sept. 17, 2020 (GLOBE NEWSWIRE) -- GTX Corp (OTC: GTXO) (“the Company”), a pioneer in the field of health & safety wearable GPS human and asset tracking systems and personal protective medical equipment, announced today it has begun taking pre- orders as field testing its new 4G LTE MB IoT GPS SmartSoles commences.
“Our new 4G model has been completely re-engineered in the U.S. from the ground floor up, including a new custom designed board and antennae, a more powerful and longer lasting battery, enhanced firmware and a super slim, low profile military grade encapsulation,” stated Patrick Bertagna, GTX Corp CEO.
The global wearable medical device market is expected to reach $9.4 billion by 2022 and with approximately ten percent of the seventy million plus population over the age of sixty-five that will be diagnosed with Alzheimer’s just in the United States alone, not to mention the need for contact tracing solutions due to COVID-19, there is a pent up demand for discrete, non-invasive tracking wearable technology, which sits at the center of GTX’s core technology platform.
The new design has been in development for nearly nine months, with some of the best engineers in the industry collaborating on the design and component selection, making this version the Company’s most advanced product yet. Besides having been completely designed in the U.S. and assembled in the U.S., the Company is also exploring manufacturing the electronics in the U.S. in anticipation of future supply chain delays, tariffs and possible embargos coming out of China.
“A 100% Made in the U.S. product is expected to have much broader appeal to our government agency customers, International distributors and wireless partners, as it should mitigate potential problems that could arise from products made in China,” commented Andrew Duncan, GTX Corp Director.
Even though COVID caused some design delays and challenges, it also created a new level of interest in the concept of “tracking people” especially for the more vulnerable senior population. Many assisted living facilities are currently not accepting new residents during COVID and due to the financial slow down, many people currently cannot afford putting their parents or grandparents in assisted living, and the fear of putting your loved ones in a home and possibly not being able to see them for months, or worse condemning them to a fatal outcome, has all created a new level of interest for a simple yet effective solution to track and monitor people at home.
GTX Corp's patented GPS SmartSoles are the world’s first wearable yet invisible tracking recovery technology that are placed in the wearer’s shoes and contain a GPS chip connected through a global cellular network that sends a signal to a central monitoring website or app showing the exact location of the individual wearing the SmartSoles. They are water resistant, come in several trim to fit sizes for both men and women, are made with the highest quality electronic components and assembled in Rhode Island, U.S.A.
The simplicity behind the SmartSole Platform is that when someone wanders off, becomes lost or abducted, or you simply want to track and trace their whereabouts, a text or email alert is sent to a caregiver’s phone and computer with a direct link to a Google map plotting the location.
Most widely known for its patented GPS SmartSole and Smartphone GPS Tracking App, GTX also distributes an extensive line of Personal Protective Equipment “PPE”, owns and licenses a large portfolio of patents in the GPS and wearable technology space and is a GSA approved military and government supplier. Many of the Company’s products are available on its online store and Amazon, and most recently soft launched its new NRBz and NFC Veritap solution. To find out more how you can buy or become an authorized reseller contact info@gtxcorp.com business development.
About GTX Corp GTX Corp (OTC: GTXO) is a pioneer in smart, mobile, and wearable GPS tracking and recovery location-based solutions, supported through a proprietary IoT enterprise monitoring platform and intellectual property portfolio. GTX offers a global end-to-end solution of hardware, software and connectivity and develops two-way GPS tracking technologies, which seamlessly integrate with consumer products and enterprise applications. GTX utilizes the latest in miniaturized, low power consumption GPS, Cellular, RF, NFC and BLE technology, enabling subscribers to track in real time the whereabouts of people or high value assets. GTX is known for its game-changing and 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’s business model is built around technology innovation and holds over 85 patents, with many issued patents in 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 authorities and municipalities, emergency and law enforcement, private schools, assisted living facilities, NGOs, small business enterprises, senior care homes, and consumers.
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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.
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