Enhanced Intellectual Property Portfolio Strengthens Position
In New Era of “Wearable Tech”
Los Angeles, Calif. – March 19, 2014 – GTX Corp. (OTCQB: GTXO), a leading provider of personal location wearable technologies, was recently notified by the U.S. Patent Office that another patent has been allowed related to its innovative and potentially life saving location–based monitoring platform.
“This is a milestone event in our intellectual property roadmap,” commented Larry E. Henneman, Jr., GTX Corp’s patent counsel. “The allowed patent includes 38 claims, with 5 independent claims, directed to tracking devices and methods for remotely configuring the tracking devices. This will be the second of two patents in this family, which are significant because their claims are not limited to footwear. The patents cover the claimed devices and configuration methods whether they are embedded in Wearables or as stand alone devices,which strengthens the Company’s already extensive IP portfolio and overall value.” The allowed application will also serve as a basis for filing additional patent applications directed to other important aspects of the invention in the near future.
“The System and Method for Communication with a Tracking Device patents are very significant to GTX because they not only apply to our core products such as the SmartSoles, but also to other technologies which require communications to a backend platform, hence strengthening our portfolio within the wearable tech industry,” stated Andrew Duncan GTX Corp Director and head of IP strategy.
GTX has been a pioneer in wearable monitoring technologies for over a decade affording a sense of control and peace of mind in today’s increasingly hectic world. Wearable technology provides timely knowledge and information which significantly reduces the levels of stress that go with the responsibility of watching out for loved ones, such as seniors with Alzheimer’s or children with Autism, one of the core vertical channels in which GTX provides solutions and estimated to reach over 270 million people worldwide by 2050
GTX delivers solutions for this growing global audience, with cognitive memory disorders, including Alzheimer’s, dementia, Autism and Traumatic Brain Injuries (TBI) and understands the importance of keeping you connected to who matters most.
Patrick Bertagna, CEO of GTX Corp concluded, “There is widespread dependence on being “connected” to instantaneous, real-time information and these Method of Communication patents directly square up with our technology roadmap, increasing the overall GTX enterprise value.”
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 ward-winning patented GPS Smart Shoe, its block buster Smartphone GPS Tracking App, and GPS SmartSole, GTX provides solutions that answer the “where is” question: where is my mother, child, pet, vehicle and high value assets.
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.
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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.