SEATTLE, Sept. 08, 2015 (GLOBE NEWSWIRE) -- GeoTraq, Inc. (OTC:GTRQ), a development stage company focused on developing next-generation wireless location technology has successfully raised $400,000 through the sale of common stock at $0.10 per share. Although GeoTraq could have sold up to $1,000,000 in common stock, management determined that the company could meet its goals with less capital and minimize shareholder dilution.
GeoTraq will use a portion of the proceeds to launch a pilot test program that will allow participants to receive sample Cell-ID devices. GeoTraq intends to use the remaining proceeds for working capital and general corporate purposes, including hiring additional staff, launching a marketing campaign and ramping up manufacturing.
CTIA Super Mobility 2015
GeoTraq will be demonstrating their new G-200 GSM Cell-ID Quad-Band Module at the upcoming CTIA Super Mobility Expo which is the largest and most influential convention in the United States focused specifically on mobile innovation.
CTIA Super Mobility 2015 will take place Sept. 9, 10 & 11 at the Sands Expo Convention Center in Las Vegas, Nevada. Visit www.ctiasupermobility2015.com for additional information.
GeoTraq manufactures the world’s first Cell-ID module which is also 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. For further information please visit the Company's website at www.geotraq.com.
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.
Gregg Sullivan CEO 855-GEO-TRAQ