LOS ANGELES, CALIFORNIA, Sept. 24, 2020 (GLOBE NEWSWIRE) -- GTX Corp (OTC: GTXO) (“the Company”), a pioneer in the field of health & safety wearable GPS human and asset tracking systems and personal protective medical equipment, announced today it has been issued a new patent by the United States Patent and Trademark Office (USPTO).
U.S Patent No. 10,743,615 entitled “System and Method for Embedding A Tracking Device in a Footwear Insole” is GTX’s third patent related to embedding Real-Time Location Systems (RTLS) GPS wearable tracking technology into footwear. “This patent covers different aspects of the GPS SmartSole product and we expect to receive more patents covering other aspects on related applications in the future” said Larry Henneman, GTX’s Patent Counsel.
“As the global wearable medical device market continues to grow and expecting to reach $9.4 billion by 2022, this patent solidifies the strength and dominance of our portfolio with respect to wearable tracking and monitoring technologies embedded in footwear,” said Andrew Duncan, Director GTX Corp.
GTX’s Intellectual Property portfolio underpins its growing value proposition as the Company continues to expand its wearable technology portfolio by leveraging the pending open continuation on this new issued patent.
“The ongoing investment in IP demonstrates GTX’s commitment to develop technology in the growing wearable tech space and further enhances our competitive barriers to the market. These patents not only apply to our flagship GPS SmartSole product line, but also will support and advance our value proposition within the wearable tech industry,” said Patrick Bertagna, GTX Corp CEO. “As a pioneer in wearable tracking and monitoring technology, we are watching larger companies such as Nike, Apple, Samsung, Garmin, Verizon and others navigate in this space. We will continue to enhance our competitive position and increase our value through innovative advancement,” added Patrick Bertagna.
Most widely known for its patented GPS SmartSole and Smartphone GPS Tracking App, GTX also distributes an extensive line of Personal Protective Equipment “PPE”. GTX Corp is a For-Profit with Purpose Company, which owns, and licenses an extensive IP portfolio, is a U.S. military contractor and GSA contract approved supplier. The Company takes particularly pride that many of its products are manufactured in the U.S. Many of the Company’s products are available on its online store, Amazon, and authorized resellers and distributors across the globe. To find out more how you can buy or become an authorized reseller contact info@gtxcorp.com business development.
About GTX Corp GTX Corp (OTC: GTXO) is a pioneer in smart, mobile, and wearable GPS tracking and recovery location-based solutions, supported through a proprietary IoT enterprise monitoring platform and intellectual property portfolio. GTX offers a global end-to-end solution of hardware, software and connectivity and develops two-way GPS tracking technologies, which seamlessly integrate with consumer products and enterprise applications. GTX utilizes the latest in miniaturized, low power consumption GPS, Cellular, RF, NFC and BLE technology, enabling subscribers to track in real time the whereabouts of people or high value assets. GTX is known for its game-changing and award-winning patented GPS SmartSole® -- think Dr. Scholl’s meets LoJack, the world’s first invisible wearable technology tracking device created for those at risk of wandering due to Alzheimer’s, dementia, autism and traumatic brain injury. GTX’s business model is built around technology innovation and holds over 85 patents, with many issued patents in GPS tracking. The company has international distributors servicing customers in over 35 countries and is a U.S. Military Government contractor. Other customers include public health authorities and municipalities, emergency and law enforcement, private schools, assisted living facilities, NGOs, small business enterprises, senior care homes, and consumers.
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Forward Looking Statements
This news release contains forward-looking statements. The terms and phrases “expect,” “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 considering 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 on the SEC Website). 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.