LOS ANGELES, CALIFORNIA, Feb. 28, 2019 (GLOBE NEWSWIRE) -- GTX Corp (OTCQB: GTXO) (GTX), a pioneer in the field of wearable GPS people and asset tracking Location-Based Services (LBS) and Real-Time Location Systems (RTLS), today announced it has been issued two new patents by the United States Patent and Trademark Office (USPTO).
GTX’s vast Intellectual Property (IP) portfolio underpins its business lines. Since the start of the year, the IP legal team has been busy adding these two new patents to the portfolio, filing additional claims through the ongoing continuation process and negotiating licensing agreements. The GTX patent portfolio addresses three core areas: Footwear, Communication and Backend Server. Of the two newly issued patents, one is in the Communication family and the other is in the Footwear family.
“These latest patents are important additions to GTX’s overall portfolio,” commented Larry Henneman, Esquire, GTX’s lead patent attorney. “The ongoing investment in IP demonstrates GTX’s commitment to develop technology in the growing wearable GPS, LBS and RTLS space, as it has been for over a decade, to further protect the integrity of its business across its verticals.”
“These patents not only apply to our flagship GPS SmartSole product line, but also will support our Smart School Safety Network (SSSN) and advance our technologies that report location data to a backend platform, hence strengthening our position within the wearable LBS industry,” said Andrew Duncan, GTX Director.
“As a pioneer in wearable LBS, we are watching how Nike, Apple, Samsung, Garmin, Google, Microsoft, Verizon and others strive to improve technology in this space,” added Patrick Bertagna, GTX’s CEO. “With our IP portfolio a cornerstone of our mandate, we will continue to enhance our competitive position and increase the value through innovative advancement.”
GTX Corp is a For-Profit with Purpose Company, which owns and licenses close to 90 patents, is a U.S. military contractor, and takes particularly pride in the fact that many of its products are manufactured in the U.S. GTX has multiple wearable LBS products in the market place, all available on its online store, Amazon and authorized resellers and distributors across the globe.
About GTX Corp
GTX Corp (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 and BLE technology, enabling subscribers to track in real time the whereabouts of people or high value assets. Headquartered in Los Angeles, California, 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 the area of 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 “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 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 by law.
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In the UK, GTX Corp operates from its London office. Please contact: Nelson Skip Riddle
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