LOS ANGELES, Oct. 14, 2015 (GLOBE NEWSWIRE) -- GTX Corp (OTCBB:GTXO), an IoT platform in the personal location GPS wearable and wandering assistive technology business, announced the completion of another successful SmartSole pilot program transitioning into a commercial launch and signing a reseller/distribution agreement with Way4Net, a solution provider in geo locating and tracking monitoring services. Way4Net placed its first commercial order, with scheduled delivery dates beginning this month and continuing monthly over the next 6 months.
Germany has a population of 83 million people with approximately 1.6 million, or 2% of its population who are afflicted with dementia and Alzheimer's and just this week Munich and Germany legend Gerd Muller, one of the all-time greats of world football announced receiving treatment for Alzheimer's disease. This disease is not limited only to the senior population as there are also approximately 24,000 people ages 45 - 65 already diagnosed throughout Germany.
Many people mistake dementia as a disease and as a natural consequence of getting older, when it is actually the result of damage to brain cells that affect memory. Dementia affects close to 50 million people worldwide today with no cure for this syndrome on the horizon.
Eric Gnass, CEO of Way4Net, commented, "For us, the solution of GTX SmartSole is one of the best technologies to increase the quality of life of vulnerable people with the symptoms of dementia, Alzheimer's, autism and other cognitive memory disorders. We are very pleased to introduce this unique product on the German market."
Andrew Duncan, GTX Corp director of business development, commented, "We are extremely pleased to have another successful pilot transition into a commercial launch and we are proud to partner with a well-entrenched company like Way4Net. We are currently investing a lot of resources in Germany which is where we design and manufacture our GPS and cellular chip and have recently signed an M2M agreement with Telefonica Germany which will support our connectivity throughout Europe." Duncan continued with, "Between our launch in Germany and launch last week in the U.K. I plan to stay in Europe for another two weeks working with our partners and chip manufactures on our next Gen SmartSole, expected out in early 2016."
GTX Corp's flagship product, the GPS SmartSoles are a stigma free, safety and security unobtrusive monitoring and tracking solution for those who suffer from Alzheimer's, dementia, autism, TBI and other memory disorders and have a tendency to wander. The patented GPS SmartSoles, which were recently showcased in Munich, at the Telefonica 2015 Innovation Conference Digital Innovation Day 2015, featured in AARP's 2015 technology gear guide and came in 2nd place, with Microsoft finishing 1st and Samsung taking 3rd place, in the 2015 Wearables, Health, Fitness & Wellness category at CTIA's Hot for the Holidays Awards competition, are placed in the wearer's shoes and contain a GPS tracking chip connected through a cellular network that sends a signal to the GTX Corp proprietary IoT platform monitoring website or smart phone app, showing the exact location of the individual wearing them. They come in several trim to fit sizes for both men and women, are water resistant, made with the highest quality electronic components and assembled in Rhode Island, U.S.A.
For About GTX Corp
GTX Corp (GTXO) is a pioneer in Smart, Mobile and Wearable Technology. Empowering the global community and keeping you connected to who and what matters most with GPS, cellular, BLE tracking and recovery location based services. Headquartered in Los Angeles, California, with distributors in over 14 countries, GTX is known for its game-changing and award-winning patented GPS Smart Shoe, blockbuster Smartphone GPS Tracking App, and innovative GPS SmartSole. GTX provides solutions that answer the "where" question: where is my mother, child, employee, vehicle, drone and high value assets. Through a robust global enterprise IoT monitoring platform and licensing subscription business model, the Company offers a complete end to end solution of hardware, middleware, apps, connectivity and professional services. Letting you know where or how someone or something is at the touch of a button, delivering security and peace of mind in an instant. GTX Corp also owns and operates LOCiMOBILE, Inc which develops applications for smart phones and tablets and Code Amber Alertag. The Company has a comprehensive intellectual property strategy and owns an extensive portfolio of patents, patents pending, registered trademarks, copy rights and URL's and was recently featured in a 38 page research piece which outlines the value proposition of the Company's IP portfolio.
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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 at http://www.sec.gov). 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.