- · GTX crossed 1.1 million app users in 130 countries
- · Releases NEW version of the Code Amber Alertag with partner Lifespire
- · GTX Corp’s Code Amber Alertag automates patient medical updates with direct RX provider interface
Los Angeles, November 9, 2011 – GTX Corp (OTCBB: GTXO), a leader in customizable, 2-way GPS Personal Location Services (PLS) solutions, today announced results for the third quarter of fiscal year 2011, to reflect a 250 % increase in revenue over the same prior year’s quarter.
The Company reported a significant increase in revenues while continuing to trend down on expenses with an approximate 23% decrease over the same quarter last year. The revenue increase marks the initial shipment associated with a 4-year contract to supply Aetrex Worldwide Inc. with GTX Corp.’s custom miniaturized 2-way PLS solution for the multi-patent award winning GPS Shoe available online this month at www.aetrex.com/gps
“With the official launch of the GPS Shoe and the highly anticipated update to the Code Amber Alertag, we expect to see continued growth in revenues and customers.” stated Patrick Bertagna, CEO of GTX Corp. “In addition, The Company has recently received hundreds of licensing inquiries from all over the world and we expect to begin signing distribution agreements with several new partners by year end or early 2012.”
GTX Corp recently partnered with Lifespire to release the latest version of the Code Amber Alertag which will help accelerate the treatment and care of those in need and potentially save hundreds of lives. Lifespire operates residential facilities for the elderly and disabled in New York with 5,000 residents and 400 staff and contractors. Lifespire plans to use the Code Amber Alertag to store and retrieve the medical information of residents and staff. With a direct interface to RX providers, GTX automates the Alertag database whenever a resident's medication changes or is updated.
About GTX Corp (GTXO.OB) a leader in enterprise 2-way GPS (Global Positioning System) real-time personal location services (PLS) was founded in 2002 and is based in Los Angeles, California with distributors in Mexico, Australia and Nepal and customers in 130 countries. GTX Corp utilizes 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, and high valued assets. Answering the “where is” question through a licensing business model and providing a complete end-to-end solution of hardware, middleware, apps, connectivity and professional services, letting you know where someone or something is at the touch of a button. GTX Corp also owns and operates LOCiMOBILE, Inc which develops GPS applications for smartphones and tablets, Code Amber News Service, and Code Amber Alertag. The Company has an aggressive intellectual property strategy and owns an extensive portfolio of patents, patents pending, registered trademarks, copy rights and URL's.
Safe Harbor Statement
The information made available in this press release contains certain forward-looking statements which reflect GTX Corp.’s current view of future events and financial performance. Wherever used, the words “estimate”, “expect”, “plan”, “anticipate”, “believe”, “may” and similar expressions identify forward-looking statements. Any such forward-looking statements are subject to risks and uncertainties and the company’s future results of operations could differ materially from historical results or current expectations. Some of these risks include, without limitation, the company’s ability to execute on its contracts, customers acceptance of its products, the market acceptance of two-way tracking devices, managing regulatory compliance and/or other factors that may be described in the company’s annual report on Form 10-K, quarterly reports on Form 10-Q and/or other filings with the Securities and Exchange Commission. Future economic and industry trends that could potentially impact revenue and profitability are difficult to predict. The Company assumes no obligation to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results express or implied therein will not be realized.
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