​GTX Corp. Continues to Expand Its IoT Reach in the Military Sector

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The advent of the Internet of Things (IoT) is vastly changing our capabilities when it comes to safety and security. IoT solutions are already being harnessed by police, military and security forces around the globe as a cost-efficient and intelligent way to protect citizens and property. By harnessing interconnected technologies and incorporating machine learning and advanced monitoring analysis, organizations from various sectors are deploying IoT solutions to regulate circumstances that were once thought beyond control or measure.

GTX Corp (GTXO), an innovative IoT technology provider, is one company in the thick of this transformational technological movement. They recently finalized another partnership that stands to significantly benefit law enforcement and the military.

The company announced a partnership with Garrison Defense LLC (Bozeman, MT) to incorporate GTX’s GPS tracking technology into Garrison’s new ArmaTrak™ solution, an intelligent firearm tagging and tracking system that will provide law enforcement and military personnel with real-time weapons accountability through the Garrison central monitoring portal and app. Equipped with GTX's proprietary, robust GPS tracking technology, the ArmaTrak system will provide movement and real-time location updates via a cellular network for weapons in the field. The system will also allow for comprehensive firearms inventory tracking where added notification can announce boundary limit triggers, low battery warnings and other predetermined criteria.

GTX Providing a Strong Foundation for Improved Tracking

This deal is important for law enforcement, military and security personnel because it will improve firearm monitoring and curb loss prevention in a field where this can have deadly consequences. According to data from the Bureau of Justice, statistics show that in 2008, federal police employed approximately 120,000 full-time law enforcement officers, authorized to make arrests and carry firearms with State and local law enforcement agencies employing more than 1.1 million people on a full-time basis. With this in mind, the partnership is a win-win for all parties and stakeholders.

“Garrison’s mission is to develop the most innovative and cutting-edge technologies that provide heightened security and enhanced safety. By leveraging GTX’s experience in high value asset tracking and monitoring technology we know that our new ArmaTrak™ solution will be a valuable tool for law enforcement and military personnel around the globe,” said Damon Peary, Garrison Defense President and CEO.

“I’m a strong supporter of providing our law enforcement and military with the latest technology, Jack Brewer, GTX Corp Brand Ambassador and National Spokesperson and Ambassador for The National Police Athletics/Activities Leagues, Inc. added. "This is a very exciting partnership for GTX as we remain committed to using our patented, miniaturized, military grade technologies to help make the world a better, and ultimately safer place.”

“Coming off the heels of receiving our first large military contract, we are very excited to begin working with Garrison Defense, Patrick Bertagna, GTX Corp CEO, commented in the press release. "We began talking with the Garrison team last year and recognized early on the value and safety potential behind tracking weapons for the military and law enforcement. The ability for GTX to leverage its expertise in manufacturing robust, miniaturized, inductive charging and waterproof GPS hardware, along with its patents and the patent Garrison has filed for the ArmaTrak, combined with their expertise in delivering the military and law enforcement with highly technical solutions provides the foundation for a strong partnership. GTX is already developing GPS tracking technology for military personnel and vehicles, so rifles naturally seem like the next high valuable asset to track while keeping in accord with our mission statement to develop technologies that keep us connected and protected.”

As Bertagna alludes to above, GTX was awarded a contract from the Air Force in late September. The company is supplying Edwards Air Force Base with specially-designed non-cellular GPS equipment used to monitor human and non-human assets in remote areas with poor cellular coverage. The devices designed for the Air Force by GTX are also fully encrypted and able to send latitude and longitude updates in real-time. Those same devices are enclosed in a military-grade encasement with the system consisting of transportable GPS trackers and repeaters, which will be strategically installed throughout the base.

GTX believes that working with the military was a perfect opportunity to demonstrate the versatile capabilities of their technology, and this deal with Garrison Defense is confirmation that industry experts are starting to take notice.

A Diverse Portfolio with Expansive Reach

GTX's platform and technology, comprising of more than 80 patents, has already received numerous accolades from industries and organizations, including most recently being nominated in three separate categories for the 2017 Uppie Awards. In addition, GTX has previously been recognized as the Most Innovative Tracking & Recovery Technology winner in the 2017 Telecoms Awards, one of the 25 Most Empowering IoT Companies by 1IT Enterprise Magazine in 2016, and finished second only to Microsoft (MSFT) in the 2015 CTIA E-Tech Awards in the Wearables, Health, Fitness & Wellness category.

Besides, working with the military and law enforcement, GTX is most well known for its flagship GPS Smartsole® product, which is a smartphone-connected GPS tracker embedded in the insole of a shoe, think Dr. Scholl’s meets Lojack. In addition, the company just released news stating that it will make the Smartsole - and the rest of their IoT devices - much more accessible, since they have completely revamped their online store, creating an easy-to-use e-commerce platform for all internet shoppers. Moreover, taking care of aging seniors is a large market, as reported by Bloomberg, remote monitoring services that keep an eye on the elderly is likely to reach $50 billion with over 45 million Americans caring for 117 million seniors by 2020.

In addition, in an effort to increase the reach of their groundbreaking product line and expand their distribution channel, GTX forged a partnership with ORBCOMM Inc. (ORBC), a leader in machine-to-machine solutions with a wide customer base, to provide connectivity on the Verizon (VZ) nationwide network and to sell the SmartSole on ORBCOMM's web platform providing GTX admission to the wide-ranging Verizon sales channel.

This is an important moment for the IoT sector. A recent report revealed the global Internet of Things (IoT) market spend will grow from $625.2 billion in 2015 to $1.29 trillion in 2020 -- with a compound annual growth rate (CAGR) of 15.6%. GTX is a part of this pivotal moment that will help save lives and improve business efficiency. For its own right, Bertagna and his team at GTX are always looking to improve and use their technology to make life easier and safer. With a new contract under their belt, rising sales, a growing list of respected partners and strong momentum generated through consistent milestones, GTX is certainly a vertically-minded company that investors should be excited about as the IoT trend continues to ramp up.


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Companies

Symbol Name Price Change % Volume
VZ Verizon Communications Inc. 57.25 -1.60 -2.72 18,892,182 Trade
ORBC ORBCOMM Inc. 9.05 0.00 0.00 362,008 Trade
MSFT Microsoft Corporation 109.08 0.49 0.45 36,183,481 Trade
GTXO GTX Corp 0.01 0.00 7.37 172,347

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