Initial Q1 2015 Delivery of SmartSoles Already Sold Out
LOS ANGELES, CALIFORNIA – OCTOBER 30, 2014 – GTX Corp. (OTCBB: GTXO), a pioneer and global provider of personal location wearable technologies, is pleased to announce that it has officially entered the volume production cycle for its GPS SmartSoles, with expected first delivery in late December. The GPS SmartSoles are being manufactured in partnership with Atlantic Footcare, Inc., a leading designer and manufacturer of orthotic insoles for over 20 years and strategic partner of the Company.
“We have hit a true tipping point with this initial production run of our patented GPS SmartSoles,” commented Patrick Bertagna, CEO of GTX Corp. “All of the units in the first delivery are already spoken for with our current backlog and demand, from high profile pilot programs to actual orders we have received in the recent months. Shipping these units in the field starts to build upon our channel partner pipeline and recurring revenue base of installed units, and more importantly allows us to start shipping production units to our potential large accounts transitioning out of their pilots into a commercial status. We have put into production a 4 month rolling forecast expecting delivery of the first units to arrive and be deployed by late Q4 2014 throughout Q1 2015.”
“We have been extremely pleased from the high quality standards implemented by our manufacturing partners, which use the highest quality and most advanced GPS and Cellular electronics, designed and assembled in Germany, before being manufactured into insoles in Rhode island”, commented Andrew Duncan, Director at GTX and Head of Product and Business Development . “Our decade plus experience in the wearable GPS market and close ties and heritage to the technology and footwear industry have allowed us to develop, patent, manufacture and bring to market a state of the art product, garnering worldwide attention, in a short period of time.”
The GPS SmartSole features a miniaturized GPS and cellular tracking chip embedded in a comfortable, cut to fit, water resistant insole, providing the ability to track persons of interest remotely from any computer, tablet or smartphone. The GPS SmartSole is powered by an inductive charging rechargeable battery that lasts 3-5 days on a single charge.
“The interest and demand for our GPS and BLE SmartSole products increases every week,” continued Mr. Bertagna. “From the media buzz to assisted living facilities, police departments, security agencies and caregivers of those afflicted with Alzheimer’s, Autism and TBI are stepping up to be the first users of the SmartSoles. The recent current events have also sparked interest from the UN to track health workers in West Africa along with support staff and journalists in the Middle East. This is truly exciting times for GTX and we are ready to commercially bring this product to market.”
GTX Corp (GTXO) is a pioneer in wearable technology and a leader in enterprise 2 way GPS real-time personal location based services. Founded in 2002, headquartered in Los Angeles, California and known for its game-changing and award-winning patented GPS Smart Shoe, its blockbuster Smartphone GPS Tracking App, and GPS SmartSole, GTX provides solutions that answer the “where is” question: where is my mother, child, employee, vehicle and high value asset.
Through a robust enterprise platform and licensing business model the Company offers a complete end to end solution of location based hardware, middleware, apps, connectivity and professional services. Letting you know where or how someone or something is at the touch of a button, delivering security and peace of mind in an instant. GTX Corp also owns and operates LOCiMOBILE, Inc which develops applications for smart phones and tablets and Code Amber Alertag. The Company has a comprehensive intellectual property strategy and owns an extensive portfolio of patents, patents pending, registered trademarks, copy rights and URL’s.
Product and licensing email: email@example.com or http://www.gtxcorp.com/about/licenseinquiry
Atlantic Footcare has been a leading designer and manufacturer of insoles for over 20 years. Known internationally for its innovative products under the Prothotics and Prosole brands, the Company and its Asian affiliates have supplied millions of insoles to major athletic and shoe companies where its record for quality, price and service is at world class standard. With over seventy people employed all contributing to the proud Made in U.S.A. label. Atlantic also supplies the professional medical market with Medicare (PDAC) reimbursable insoles for comfort and diabetic care from its plant in Rhode Island; along with being a primary supplier of insoles for US military footwear.
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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 at http://www.sec.gov). 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.
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