SEATTLE, Dec. 22, 2014 (GLOBE NEWSWIRE) -- Part of the new boom in Seattle's South Lake Union tech center, GeoTraq, Inc. (OTC:GTRQ) boasts wireless Cell-ID technology with countless applications and built-in marketability for theft recovery and asset tracking devices.
GeoTraq has created the world's first and only dedicated Cell-ID transceiver module that can foster design and manufacturing of extremely small, inexpensive products with exceptional battery life — years on a single charge. In fact, GeoTraq will establish Cell-ID as the new global standard for asset tracking.
Using Cell-ID technology exclusively, GeoTraq provides lowest-cost solutions and service life that will enable new global markets for location-based services (LBS) using technology similar to what emergency 911 location systems use right now. Today, 200 million remote "connected" devices exist. By 2020, it is estimated that 50 billion will be in service. Products using Cell-ID will capitalize on basic delineators: long battery life, extremely small form factor, low deployment costs — and it works indoors, unlike GPS.
GeoTraq has identified an untapped market for asset location and tracking devices. Already, several Fortune 500 companies have been in contact with GeoTraq. Multiple commercial, government, military and industrial applications include asset location, theft recovery, security, and inventory control. Initially, GeoTraq plans to sell the Cell-ID module for $16 each and will charge a monthly service fee from $1 to $10 and $0.01 to $10 per look-up request (depending on the application).
GeoTraq's comprehensive solution includes the Cell-ID transceiver, proprietary Cell-ID device firmware, WebTraq LBS platform software and secure Cell-ID service. The GeoTraq platform is a Java-based, scalable, multi-tenant software to manage an unlimited number of Cell-ID devices. GeoTraq will also offer customizable iPhone and Android applications to meet specific customer requirements. This means users of smart phones, tablets, and virtually any PC can benefit.
Existing solutions have failed to meet the needs of a large, under-served portion of the LBS market. Consider that both RFID and Wi-Fi require close proximity for asset tracking; and GPS earns its reputation for being large, expensive, power hungry, and outdoor only. RFID's short-range solution works indoors but requires bothersome installation. GeoTraq's Cell-ID small, mobile and inexpensive solution works for years on a single charge — it's that simple.
Forward-Looking Statements
The Company has registered with the Securities and Exchange Commission (SEC) and has its financial reports and other disclosure information available for public dissemination. The common stock of GeoTraq, Inc. Trades under the ticker symbol "GTRQ" on the OTC Market (OTC).
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.