LOS ANGELES, Jan. 24, 2011 (GLOBE NEWSWIRE) -- GTX Corp (OTCBB:GTXO), a leader in 2-way GPS tracking personal location services providing technologies that answer the "where is" question, today outlines a recap of 2010 and forecast for 2011.
- Multiple New Product Introductions and Appreciable Recognition of Leading-edge Technology Platform. 15 new products were launched expanding the Company's total product offerings by 200%. Several of the Company's location-based social networking (LBSN) mobile applications were included in both the iTunes and Android lists of top Apps for 2010.
- Significantly Increased Consumer User Base. The GTX worldwide user base crossed 800,000 in over 100 countries, compared with 25,000 users at the end of last year. Driving this increase was the Company's active participation in many industry conferences, traditional media exposure in numerous television segments and newspaper and magazine articles as well as the Company's increasing social media visibility.
- Major New Licensing Agreements. Licensing agreements with Aetrex Worldwide, Inc and MNX Midnight Express were signed with shipments to MNX commencing in late December and Aetrex initiating production for its first commercial order.
- New Distributors. Two new International distributors added contracts with new partners including Samsung and Aeris.
- Industry Recognition. The GTX Corp With You® brand was recognized as a premier provider, honored at the Location & Beyond Summit with the Peoples Choice Award for the Most Innovative Connected Location Device.
- International Expansion through Localization. The GTX Corp B2B portal and the Code Amber Alertag consumer portal were localized in Spanish for deployment in Latin America.
Patrick Bertagna, CEO of GTX Corp, noted, "Clearly, 2-way GPS tracking garnered a significant increase in awareness and demand, positioning the Company to capture this exploding market with our robust platform, diverse product line, strong brand recognition, and growing global customer base. As we continue transitioning from a product development stage to full commercialization, we are attracting the attention of partners and customers that value the exceptional capabilities of our 2-way GPS tracking platform. With momentum on our side in this emerging $13 billion industry, 2011 looks to be very promising."
Unique, Technically Advanced 2-Way GPS Technology Ready for Burgeoning New Market
Transitioning into 2011, the Company successfully concluded initial testing of the GPS Smart Shoe with the Alzheimer Association. The Company finished its custom firmware development for the MNX devices and began shipping its first units. Another partner has been added to the international distributor list, Grupo GTX, a well established business in Mexico servicing the logistics and security market and other channel partners have begun sending in their forecasts and orders for Q1 with shipments commencing this month. In addition, the Code Amber Alertag group opened new markets in South America, including the major markets of Brazil and Argentina, for distribution of the Company's products.
Looking ahead, as 2-way GPS technology continues to be more broadly accepted, the Company will continue to introduce new products to the market with a focus on e-Health and apps for various mobile platforms and devices from smartphones to tablets to TVs. In the process, the Company intends to add to the growing list of international distributors and partners. The Company will also investigate new market opportunities while evaluating new vertical markets and channels of distribution as well as continue to execute on the existing contracts.
GTX Corp (OTCBB:GTXO), a leader in embedded 2-way GPS real-time personal location services (PLS), was founded in 2002 and is based in Los Angeles, California with distributors in Mexico, Australia and Nepal and customers in 104 countries. GTX Corp utilizes the latest in miniaturized, low power consumption technology and offers a robust GPS and cellular location platform to track in real time the whereabouts of people, pets, vehicles and high valued assets. Answering the "where is" question through a licensing business model and providing a complete robust, scalable end to end solution of hardware, middleware, apps, connectivity and professional services - a one stop shop. From its early beginnings – the patented GPS smart shoe has been paving new innovative geo specific and proximity alerting applications that help you know where someone or something is at the touch of a button, GTX Corp also owns and operates LOCiMOBILE, Inc which develops applications for smartphones and tablets, Code Amber News Service, and Code Amber Alertag. The Company has an aggressive intellectual property strategy and owns an extensive portfolio of patents, patents pending, registered trademarks, copyrights and URLs.
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