LOS ANGELES, April 28, 2011 (GLOBE NEWSWIRE) -- GTX Corp (OTCBB:GTXO), a leader in two-way GPS Personal Location Services (PLS) solutions signed an agreement with Tracking Central Pty Ltd., to acquire the exclusive licensing rights of GTX Corp 's enterprise GPS Tracking platform which will support the award winning GPS Smart Shoe ™ licensed by Aetrex Worldwide.
"We are excited for the opportunity to have exclusive rights to this very much needed product," said Claude Raiola, Director of Tracking Central. "We were searching for a cutting edge monitoring service for our CareTraker and Pawtracker device and have found it with the robust GTX Corp platform."
The agreement calls for 150 days of due diligence and is accompanied with 3 staged payments. Upon successful completion Tracking Central will have exclusive monitoring rights in Australia and New Zealand and will be able to support the Aetrex® GPS Smart Shoe ™ designed for seniors suffering from dementia and Alzheimer's.
"As we continue to expand our international footprint this is a direct result of our global initiative to grow our channels of distribution while building out our community to launch the GPS Smart Shoe ™ outside of the US," said Jerry Barbera Head of Business Development at GTX Corp.
The impact of Alzheimer's: The World Alzheimer global study looks at levels of mortality, disability, strain on careers and dependency. The report includes estimates of the number of people with dementia in each world region and provides the most comprehensive global picture yet of the economic impact of Alzheimer's disease and dementia. Nearly 10 million caregivers, mostly family members, spend $148 billion dollars a year for the care of their loved ones.
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 offers 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, CodeAmberNewsService, and CodeAmberAlertag. The Company has an aggressive intellectual property strategy and extensive portfolio of patents, patents pending, registered trademarks, copyrights and URL's.
specializes in the latest personal location devices, including the CareTracker, PawTracker and live CareTracker Monitoring Service. The company was founded in 2009 and is based in Brisbane, Queensland, Australia.
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