LOS ANGELES, April 6, 2011 (GLOBE NEWSWIRE) -- GTX Corp (OTCBB:GTXO), a leader in customizable, patented 2-way GPS solutions and Wuhan Amass Trading Company Ltd., established in 1971 and Headquartered in China, recently signed a platform test agreement and will begin testing, localizing and commercializing the award winning patented GPS Smart Shoe™ for the Chinese market. The testing period is scheduled to last 5 months and both companies plan to explore an exclusive licensing agreement for the territory during that time.
GTX Corp has developed a "smart" shoe by fitting it with a miniaturized inconspicuous 2 way GPS Personal Location tracking device that maps location and provides care givers real time comfort while giving their family member the freedom of mobility. One Hundred million people worldwide are expected to fall victim of dementia. As part of an ongoing global initiative GTX Corp and several other potential international partners are in discussion and planning for the GPS Smart Shoe launch outside of the U.S. Some of the countries being considered include Canada, Israel, the UK, Australia and Mexico. Wireless carriers in the territories have been invited to the conversations as they will play an integral role in the process.
GTX Corp files 10K with a 68% increase in revenues, 21% lower net loss from 2009 and 50% lower from 2008. Contributing to the positive trend, all three of the Company's subsidiaries, are ramping up sales, adding new channels of distribution, launching new products and exploring new vertical markets.
GTX Corp (OTCBB:GTXO) a leader in enterprise 2-way GPS personal location services (PLS) was founded in 2002 and is based in Los Angeles, California. With users in 110 countries and distributors in Mexico, Australia and Nepal, known for its game changing and award winning patented GPS Smart Shoe and its block buster smartphone GPS Tracking App which hit number two on the iTunes top grossing chart, the Company continues to pave the way with innovative geo specific and proximity marketing applications that help you know where someone or something is at the touch of a button. Utilizing the latest in miniaturized, low power consumption technology and offering a robust enterprise GPS and cellular location platform to track in real time the whereabouts of people, pets, vehicles and high valued assets. Through a licensing business model the Company provides a complete end to end solution of hardware , middleware , apps, connectivity and professional services. 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 extensive portfolio of patents, patents pending, registered trademarks, copyrights and URL's.
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