SEATTLE, Aug. 11, 2015 (GLOBE NEWSWIRE) -- GeoTraq, Inc. (OTC:GTRQ), a development stage company focused on developing next-generation wireless location technology has begun manufacturing the G-200 GSM Quad-Band Cell-ID modules and accompanying SIM cards holders. All modifications required for successful fabrication and assembly have been made and the first set of modules is scheduled to arrive next week. The majority of modules will be delivered to iTraq to satisfy an outstanding purchase order. The remaining modules will be used for demonstration purposes.
“We look forward to delivering the 30,000 Cell-ID modules ordered by iTraq earlier this year,” said Gregg Sullivan, CEO of GeoTraq. "This first manufacturing run will allow us to begin fulfilling that commitment."
iTraq produced the first consumer product based on the GeoTraq G-200 Cell-ID module and has sold over 6,000 iTraq Tags since its debut in April. The iTraq crowdfunding campaign generated over $300,000 in sales, exceeding the funding goal by 752%. Thousands of mobile users have downloaded the iTraq iPhone and Android application to track beta test units as they are shipped around the world.
The G-200 GSM Quad-Band Cell-ID Module is the world’s first Cell-ID module and the world’s smallest integrated cellular module. Companies can design and manufacture Cell-ID enabled location products that will operate over long periods of time without recharging. They can also be located almost anywhere in the world where cellular service is available. The applications for Cell-ID modules in consumer, commercial and industrial products are virtually limitless.
Termination of OmniM2M & Ci2i Acquisition
The letter of intent executed July 24th between OmniM2M / Ci2i and GeoTraq has been terminated. No shares were issued or exchanged. Management will continue to seek acquisition candidates that can benefit the company and increase shareholder value.
About iTraq
iTraq launched the world's first global location device that can be found anywhere. The iTraq Tag determines its position and location using cellular towers allowing it to be located almost anywhere in the world where cellular service exists. By adjusting how often you want your iTraq Tag to report, you can extend the battery life up to three years. For further information please visit the Company's website at www.itraq.com. You may also visit the iTraq Indiegogo campaign at www.indiegogo.com/projects/itraq-the-cellular-tracking-device
About GeoTraq
GeoTraq Inc. is a technology provider established to manufacture and sell cellular transceiver modules and associated services specifically enabled by Cell-ID with all its inherent advantages over GPS and RFID to provide solutions for the tracking, asset recovery and location based industries. For further information please visit the Company's website at www.geotraq.com.
Forward-Looking Statement
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that such forward-looking statements involve risks and uncertainties, which include among others, the inherent uncertainties associated with development stage companies including without limitation, other risks associated with new technologies.