LOS ANGELES, CA – January 20, 2016 – GTX Corp (OTC: GTXO), a provider of wearable monitoring and tracking solutions using GPS, Cellular and BLE technology, announces the hiring of Maxim Group LLC, a leading full-service investment banking, securities and wealth management firm, to provide strategic advisory services for the Company’s 2016 corporate initiative roadmap.
GTX Corp’s Chief Executive Officer Patrick Bertagna states, “After extensive meetings with the Maxim team discussing corporate initiatives for 2016, we felt the timing was right to retain the firm and advance with the roadmap now in place. We look forward to working with them and leveraging their expertise in order to maximize shareholder value.”
Continuing on last year’s progress, the Company will further grow its global distribution network by adding more countries in Latin America and Asia, domestically will ramp up retail channel partners, will increase insurance and subsidized reimbursements, make inroads into the autistic community, grow its IP portfolio, launch new tracking products, explore new robotic technologies and further deploy all 3 of its current product categories in order to grow its subscriber base of recurring revenues.
Patrick Bertagna concluded with, “2015 was a transformative year, we launched 3 products and added distributors and end users across the globe. Our flagship GPS SmartSole, won awards, garnered media and industry attention, and changed the lives of countless caregivers. By delivering to the market place a practical solution to a universal problem, we have laid a foundation which we can build upon as the number of people afflicted with cognitive memory disorders reaches hundreds of millions over the next decade.”
About Maxim Group LLC
Maxim Group LLC is a leading full-service investment banking, securities and wealth management firm headquartered in New York. The Firm provides a full array of financial services including investment banking; private wealth management; and global institutional equity, fixed income and derivative sales & trading, equity research and prime brokerage services to a diverse range of corporate clients, institutional investors and high net worth individuals. Maxim Group is a registered broker-dealer with the U.S. Securities and Exchange Commission and the Municipal Securities Rulemaking Board (MSRB), and is a member of the following: Financial Industry Regulatory Authority (FINRA), Securities Insurance Protection Corporation (SIPC), NASDAQ Stock Market and NYSE Arca, Inc. To learn more about Maxim Group, visit www.maximgrp.com.
GTX Corp (GTXO) is a pioneer in smart, mobile and wearable GPS, cellular and BLE tracking and recovery technology. Headquartered in Los Angeles, California, with distributors in over 14 countries, GTX is known for its game-changing and award-winning GPS and BLE SmartSole and blockbuster smartphone GPS Tracking App. GTX provides solutions that answer the “where“ questions: where is my mother, child, employee, vehicle, drone and high value assets? Through a proprietary global enterprise IoT monitoring platform and licensing subscription business model, the Company offers a complete end-to-end solution of 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 also owns and operates LOCiMOBILE, Inc which develops applications for smart phones and tablets and Code Amber Alertag. GTX has a comprehensive intellectual property strategy and owns an extensive portfolio of patents, patents pending, registered trademarks, copy rights and URLs, and was featured in a 38-page research piece outlining the value proposition of the company’s IP portfolio and more recently in the SeeThruEquity research report.
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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.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term is defined in the Private Litigation Reform Act of 1995, which are subject to risks and uncertainties and may change at any time. These statements are only predictions and involve known and unknown risks, uncertainties and other factors including, without limitation, (i) uncertainties regarding the Company’s ability to obtain adequate financing on a timely basis including financing for specific projects, (ii) the financial and operating performance of the Company’s projects after commissioning, (iii) uncertainties regarding the market for and value of carbon credits and other environmental attributes, (iv) political and governmental risks associated with the countries in which the Company operates, (v) unanticipated delays associated with project implementation including designing, constructing and equipping projects, as well as delays in obtaining required government permits and approvals, (vi) the development stage of the Company’s business, (vii) its lack of operating history and (viii) the financial, technological, and regulatory uncertainties relating to developing, constructing and completing to operational status, a biogas generation facility such as the Project. As such, there is no assurance that the initiatives described in the press release will be successfully implemented or meet expectations.
The Company assumes no obligation to update the information in this release.