​GTX Corp's (GTXO) Military Contract Shows an IoT Provider Soaring in Multiple Sectors

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It is a remarkable moment for the secular shift to the Internet of Things. This new technology is permeating into many corners of various industries and disrupting a myriad of legacy business models. One company at the forefront is GTX Corp (GTXO), an innovator with a sizeable portfolio of patented and award-winning technologies. Recently, the company announced a brand-new contract with the Department of the Air Force, further validating its industry-leading GPS wearable technology.

GTX will be supplying Edwards Air Force Base with specially-designed non-cellular GPS technology to track personnel and equipment. The Personnel/Equipment Tracking System (PETS) developed by GTX allows for large-scale monitoring of both human and non-human assets in remote areas with poor cellular coverage. GTX's devices for the Air Force will, through Radio Frequency technology, send latitude and longitude coordinates that are both updated in real-time and fully encrypted providing much needed support for servicemen and servicewomen.

“Receiving our first sizeable military contract is a significant milestone for the Company and is a true testament to our teams’ collective years of experience and knowledge about the GPS tracking business," Patrick Bertagna, GTX Corp CEO said in the company press. "We are deeply honored to have been awarded this contract and view this as a great opportunity to develop and deliver technology solutions that at the core are designed to help save lives. Edwards AFB conducts live ammunitions testing, and hence knowing where every person and asset are on the base in real time is of vital importance.”

A Company Starting to Take Off

GTX's devices will be modified specifically for the Air Force by being enclosed in a military-grade encasement with the system consisting of transportable GPS trackers and repeaters, which will be strategically installed throughout the base. The Personnel/Equipment Tracking System (PETS) will have solar panels to achieve several months of battery life and a base station that collects the encrypted data for display.

GTX will manufacture, install and provide ongoing maintenance for all the equipment in the deal with the Air Force and will be commencing deliveries in the next few weeks that will continue until the end of the year and carry over into 2018. In preparation for developing an ongoing relationship with the military, GTX Corp has renewed and updated its System for Award Management (SAM) and General Services Administration (GSA) entity registrations.

Delivering First-Class IoT in Multiple Sectors

This news is even more exciting, and shows the deep portfolio at the fingertips of GTX, because the company is most well-known for their flagship GPS SmartSole®, a prized wearable and IoT technology that enables family members and caregivers to track loved ones through technologically-advanced GPS trackers that are embedded inside footwear. Bertagna describes it as Dr. Scholl’s meets LoJack.

Through this product, GTX is aiming to phase out the stigmatizing anklets and bracelets that bring unwanted attention, while concurrently improving the quality of life for our world’s important aging population making it easier for seniors to age in place, save on costs and of course, bringing peace of mind to worried family members.

“By embedding the electronic GPS tracker inside an orthotic insole placed inside a shoe, most of the time people don’t even know it’s there,” Bertagna explained. “You can monitor the whereabouts of that individual at all times as long as they have their shoes on, which is predominately every time they are out of their home or community. With just a touch of a button from your smartphone, you know exactly where they are. So, you don’t stigmatize the person or brand them by putting something on them. Nobody in the outside world knows if they have a tracking device on them, yet they’re being monitored 24-7.”

Furthermore, last week GTX announced a partnership with ORBCOMM Inc. (ORBC), a global leader in machine-to-machine solutions with a large customer base, to provide connectivity on the Verizon (VZ) nationwide network. ORBCOMM will also sell the SmartSole on their web platform and GTX will also have access to the wide-ranging Verizon sales channel.



“ORBCOMM is pleased to partner with GTX to offer their new SmartSoles on the Verizon network," said Bill Molesworth, ORBCOMM’s VP of OEM & Network Channel Sales, North America. "This innovative product is a great extension of ORBCOMM’s asset tracking and monitoring solutions into the wearables market and provides a unique, effective and potentially lifesaving solution to facilitate the care and safety of the millions of at-risk individuals who are affected by Alzheimer’s, dementia, autism and other cognitive disorders.”

Recently, GTX announced a partnership with TruSense, which recently unveiled the first integrated smart home experience for seniors using sensor and GPS technology to discern the way a person lives and the SmartSole will be included into TruSense’s online store.

Similarly, they signed a collaboration agreement with Veristride, Inc., a company that specializes in gait movement using custom sensors at the foot and biomechanical analytics to provide feedback on how people walk, run and move. Gait technology is significant in fall risk detection and prevention, medication reaction, undetected stroke and early prediction of dementia. We can only imagine that GTX is working on incorporating these sensors into their SmartSole platform.

The sum of all these deals show the profile of a company that is gaining momentum. Each milestone and partnership that GTX achieves is further proof of a company that has forward vision along with innovative, patented technology that is in high demand in multiple sectors.

Looking to the Horizon

GTX's technology has long garnered wide praise and validation from a number of 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.

GTX owns and licenses more than 80 patents and has multiple products in the market place including:

  • Mini-Tracker - Take Along Tracker 3G - this single device allows for GPS capabilities, plus 2G, 3G, GSM, data and voice. Not to mention, the device has a 3-way motion sensor.
  • Track My Workforce - this mobile app allows employers to monitor mobile employees like drivers and sales representatives through the app.
  • GPS SmartSole – a wearable stigma-free GPS tracking, monitoring and recovery solution for those at risk of wandering due to Alzheimer’s, dementia and autism.
  • PETS- personnel/equipment tracking system for the military

The company's growth was also evident in their second quarter results, where product revenues increased 28% over a comparable period from last year, while international subscribers grew by 37% and combined revenues rose 8%.

GTX's increased sales and growing subscriber base are evidence of a company that has a strong business model and clearly understands the path ahead. For the last few years, the company has been expanding and nurturing its distribution channels throughout Europe, the Americas and reaching into Asia and now those moves by leadership are starting to pay dividends. GTX is now a company operating at full speed ahead with a technology platform that can reach multiple markets and solve problems for those in need. Military and healthcare applications are just the beginning for this innovative company and with plenty of time left before year end, we are expecting more good news coming down the pipeline.


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Companies

Symbol Name Price Change % Volume
VZ Verizon Communications Inc. 52.89 -0.30 -0.56 17,705,487 Trade
ORBC ORBCOMM Inc. 9.91 -0.07 -0.70 410,462 Trade
MSFT Microsoft Corporation 85.35 -0.23 -0.27 22,062,679 Trade
GTXO GTX Corp 0.00 0.00 0.00 0

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