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GTXO SmartSoles featured on Kardashians
https://gtxcorp.com/gps-smartsole-will-be-on-the-kardashians-this-sunday-night-e-channel-600-pm-pst/
From last year, but still relevant.
Thanks DTGoody. Amazing DD over here and even the negative voices provide food for thought. I've read almost every post and decided to spin the wheel with SOLI.
Missed my Magic buddies and thought I'd move into your new home.
Missed the .15's a couple of weeks ago, but have been paying close attention since then!
No, I bought at .38 and .30 today.
I'm in. Couldn't resist any longer.
GTXO on Inpixon (INPX) Twitter
July 1 entry
https://twitter.com/ShipChain?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
Inpixon
? @InpixonHQ
Jul 1
Inpixon Acquires Portfolio of #GPS Technologies to Bridge the Market's Indoor-Outdoor Positioning Gap
https://hubs.ly/H0jzmgF0
$INPX #indoorpositioning #indoorlocation #indoormapping #geofencing #wirelessdetection #schoolsafety #campussafety
npixon Acquires Portfolio of GPS Technologies to Bridge the Market’s Indoor-Outdoor Positioning Gap
PALO ALTO, Calif. – Inpixon (Nasdaq: INPX), a leading indoor positioning and data analytics company, today announced it has completed the acquisition and licensing of a broad portfolio of global positioning system (GPS) assets and intellectual property from GTX Corp (OTCQB: GTXO), located in Los Angeles CA, previously announced on May 28, 2019.
GTXO on ShipChain Twitter
Scroll down to August and September.
https://twitter.com/ShipChain?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
GTXO on NetObjex Twitter.
https://twitter.com/netobjex?lang=en
GTXO Outstanding Shares 62,550,246 10/04/2019
https://www.otcmarkets.com/stock/GTXO/security
TruTrace Technologies to collaborate with Sigma Analytical Services on cannabis genetic testing
TruTrace said it plans to include Sigma Analytical as a genetics verification and testing partner in its blockchain-secured traceability ecosystem
TruTrace Technologies Inc - TruTrace Technologies Inc to collaborate with Sigma Analytical Services on genetic testing for cannabis
Under its StrainSecure program, the company collects plant testing data and performs genomic verification
https://www.proactiveinvestors.com/companies/news/904313/trutrace-technologies-to-collaborate-with-sigma-analytical-services-on-cannabis-genetic-testing-904313.html
TruTrace Technologies Inc (CSE:TTT) (OTCMKTS:TTTSF) announced Monday that it will collaborate with Sigma Analytical Services on genetic testing for cannabis.
Both companies have entered into a letter of intent to establish a strategic working relationship, TruTrace said in a statement.
The company said it plans to include Sigma Analytical as a genetics verification and testing partner in its blockchain-secured traceability ecosystem, and the parties will explore development and integration opportunities to expedite testing processes in the cannabis and hemp industries.
READ: TruTrace Technologies clocks first revenue after Shoppers Drug Mart pilot program in fiscal 1Q
Sigma Analytical is also expected to participate in the TruTrace Technologies and Shoppers Drug Mart medical cannabis verification pilot program as a testing partner.
The pilot program, which is designed to increase transparency, interoperability and product identification within the medical cannabis industry, uses TruTrace Technologies’ StrainSecure technology as a central hub for identity management, asset tracking, validation, and product authentication.
"We are pleased to add Sigma Analytical as a partner in our StrainSecure ecosystem," said TruTrace Technologies CEO Robert Galarza. "The Sigma team has established a track record of innovation in the cannabis industry and we look forward to collaborating with them as we continue to build out our platform and processes."
As a full-service testing and research GMP-compliant laboratory, Toronoto-based Sigma Analytical offers comprehensive testing and analytical services, as well as research and development, and consulting in cannabis, hemp and derived products across North and South America.
"Sigma has been advancing the understanding of cannabis chemistry and has ?established a global scientific network of pioneers to facilitate standardizing testing and quality assurance in this ?new and promising field of science," said Ashton Abrahams, chief operating officer of Sigma Analytical.
"Working with TruTrace and Shoppers Drug Mart to track and trace the process and products will have significant synergy with what Sigma is doing and will be valuable to the fast-growing cannabis industry."
Under the StrainSecure program, the TruTrace Technologies of Calgary collects plant testing data and performs genomic verification in plant batches which are then registered in a blockchain-enabled database for intellectual property protection and strain validation. All information gathered from the plants, including their molecular and chemical makeup, can be tracked via the program.
Contact the author: patrick@proactiveinvestors.com
Follow him on Twitter @PatrickMGraham
TruTrace Technologies clocks first revenue after Shoppers Drug Mart pilot program in fiscal 1Q
https://www.proactiveinvestors.com/companies/news/903367/trutrace-technologies-clocks-first-revenue-after-shoppers-drug-mart-pilot-program-in-fiscal-1q-903367.html
Companies have lined up to use TruTrace’s StrainSecure technology to track strains of medical cannabis and verify their authenticity
TruTrace Technologies clocks first revenue after Shoppers Drug Mart pilot program in fiscal 1Q
The company said revenue was primarily driven by service fees associated with the use of TruTrace technology
TruTrace Technologies Inc (CSE:TTT) (OTCMKTS:TTTSF), the medical cannabis verification company, clocked revenue for the first time in the fiscal first quarter after a milestone deal with Shopper Drug Mart, to see a pilot program use TruTrace's StrainSecure technology as a central hub for identity management, asset tracking, validation, and product authentication.
For the three months ended July 31, the Vancouver-based firm posted revenue of $48,000, compared to nothing in the same quarter a year ago. Revenue was primarily driven by service fees associated with the use of TruTrace technology, said the company.
In a statement accompanying the Canadian technology company’s latest numbers, TruTrace Technologies CEO Robert Galarza said: "The launch of the Shoppers Drug Mart Pilot Program for medical cannabis verification was a very significant milestone for us in the first quarter.”
READ: TruTrace Technologies protects intellectual property to send counterfeiters packing
"This has provided us with a unique opportunity to demonstrate the effectiveness of our technology to several of Canada's leading licensed producers and other key industry participants. We intend on becoming an indispensable part of the solution to bring the highest standards of transparency and accountability to the cannabis sector," he added.
TruTrace Technologies has developed the first blockchain-secured platform to track intellectual property for cannabis. The company provides DNA-based cannabis product validation and helps with intellectual property protection and product guarantees for patients and customers.
In a nutshell, TruTrace combines the power of big data with the security of blockchain to provide strain identification, registration and verification for cannabis at scale.
The company expects momentum to continue into the second half of the year, driven by its medical cannabis pilot program with national Canadian pharmacy chain Shoppers Drug Mart.
TruTrace’s seed-to-sale tracking tackles two pain points in the cannabis industry: it modernizes the inventory tracking system and provides customers with details about a product’s lab test results and cultivar.
As a result, TruTrace is working with at least ten major producers, which include Harvest One Cannabis, WeedMD Inc, Aphria Inc, Aurora Cannabis Inc, The Flowr Corporation, Tilray Canada Ltd, United Greeneries, and Zenabis Global Inc.
Well-known medical cannabis producer WeedMD is a big believer. The Ontario-based company saw 40 of its cannabis strains undergo validation as part of the first phase of its pilot program with TruTrace.
Clearly, things are moving in the right direction as the company’s net loss in the fiscal first quarter shrunk to $1.7 million, compared to $9 million in the same period a year earlier.
Positive outlook
"We expect that the relationships we are establishing through the implementation of the StrainSecure platform in the Pilot Program will form the cornerstone of our continued growth," said Galarza.
Licensed producers are using TruTrace, in part to assure stakeholders that the medical cannabis industry is serious about offering a verified, standardized cannabis treatment option. The firm’s immutable, cryptographically secure technology is also seeing momentum in South America and the US as well.
"Our technology is being validated through a large-scale proof of concept. This enables us both to demonstrate the value of our offering to industry participants, and to advance our technology in response to their input,” said Galarza.
“Prospective customers in Canada and internationally have been tracking our progress and are showing strong interest for our company," he added.
As adoption grows with each new user, TruTrace further stakes its claim as a technology game-changer for the cannabis industry
In August and September 2019, TruTrace announced the closing of the first two tranches of a private placement raising proceeds of roughly $720,000.
In September 2019, Deloitte and TruTrace announced a strategic alliance to deliver blockchain product-traceability solutions to the cannabis industry. The company expects the strategic alliance to lead to additional business development opportunities.
Contact Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive
PR or an 8-K would be nice.
Disappointed no explanation yet for share reduction.
GTSM sitting at .0068 bid is kind of interesting.
They haven't been an active participant until yesterday.
GTXO revenues increased 472% or $694,857 in 2nd Quarter.
From Second Quarter results PR. (Link back)
"Revenues as a whole in Q2 2019 increased by 472% or $694,857 in comparison to Q2 2018. The big catalyst this quarter was the Inpixon transaction and other IP licensing revenues which increased 5,172% or $646,500 and even though we don’t expect mid 6 figure IP income every quarter, the IP licensing part of our business is gaining momentum and we do expect to see continued growth this year. Service income increased by 81% or $43,912 as we continue to grow our subscriber base, and product revenues had a small increase of 6% or $4,444 over Q2 2018. We also saw a reduction in operational expenses and took on no new dilutive financing. Worth noting, even without the Inpixon transaction this quarter our revenues would still have been up approximately 30% over the 2018 comparable period. "
"Integration between ShipChain and GTX has already begun and a joint customer will be announced once all details have been finalized. Additionally, ShipChain will begin offering GTX enabled services to all customers as part of the expanding partnership."
From GTXO July 17th PR
Hoping they PR why OS was reduced 40%.
Or maybe an after hours 8-K
GTXO 2nd Q Revenue totally overlooked by market.
Here's a repost.
GTX Corp Reports Second Quarter 2019 Financial Results and Corporate Summary Update
LOS ANGELES, CALIFORNIA, Aug. 20, 2019 (GLOBE NEWSWIRE) -- GTX Corp (OTCQB: GTXO) (“the Company”), a pioneer in the field of wearable GPS, people and asset tracking Location-Based Services (LBS) and Real-Time Location Systems (RTLS), today announced a summary for the Second Quarter ended June 30, 2019.
Second Quarter 2019 Financial Highlights:
Revenues for the three months ended June 30, 2019 were approximately $842k compared to approximately $147k for the comparable period in the prior year for an increase of approximately $695k, or approximately 472%.
Gross Profit Margin for the three months ended June 30, 2019 was 92% compared to 71% for the three months ended June 30, 2018. This increase in margin is primarily due to the increase in higher margin IP licensing, subscription services and military sales and service revenue during these periods.
Gain from Operations for the three months ended June 30, 2019 was $412k as compared to ($248k) for the comparable period in the prior year.
Total Revenue increased 472% over comparable 2018 period
IP Revenue increased 5,172% over comparable 2018 period
G&A decreased 27% over comparable 2018 period
Derivative and Amortization Expenses decreased 90% over comparable 2018 period
Net Income increased 154% from 2018, reflecting a profitable quarter
No Dilutive Financing
Six Month Financial Highlights
Overall Revenue increased 169% over 2018 comparable period
IP Licensing revenue increased 2,671% from 2018
G&A decreased 11% from 2018
Gross Margin, increased from 67% to 89%
Derivative and Amortization Expenses decreased 70%
Loss from Operations decreased 99% from 2018
Net Loss decreased 81%
First & Second Quarter 2019 Business Highlights and Developments
Completed the sale and licensing of GPS assets and Intellectual Property to Inpixon ( NASDAQ: INPX)
Completed delivery of initial order from Hill Air Force Base.
Expanded GPS SmartSole distribution across Canada, Denmark, Sweden, Norway, Finland, the Netherlands and U.K.
Overall Subscribers increased 42% over 2018 comparable period
International Subscribers increased 44% over 2018 comparable period
Domestic Subscribers increased 38% over 2018 comparable period
Increased IP revenues - Signed 3 patent license agreements in Q1, signed 3 in Q2, expect to sign several more in Q3
Launched new NFC Temperature Trackers
Began NFC pilot programs
Management commentary:Patrick Bertagna, GTX Corp CEO.
As highlighted above, we had a very significant and profitable quarter with $844,000 in revenues and $371,000 in profits. We saw double and triple digit increases in all the metrics we measure – revenues, subscribers, margins, profits, while our cost of operations remained steady, cash received in operations was positive, SG&A and net losses decreased.
Revenues as a whole in Q2 2019 increased by 472% or $694,857 in comparison to Q2 2018. The big catalyst this quarter was the Inpixon transaction and other IP licensing revenues which increased 5,172% or $646,500 and even though we don’t expect mid 6 figure IP income every quarter, the IP licensing part of our business is gaining momentum and we do expect to see continued growth this year. Service income increased by 81% or $43,912 as we continue to grow our subscriber base, and product revenues had a small increase of 6% or $4,444 over Q2 2018. We also saw a reduction in operational expenses and took on no new dilutive financing. Worth noting, even without the Inpixon transaction this quarter our revenues would still have been up approximately 30% over the 2018 comparable period.
In addition to a very strong IP licensing quarter, our overall subscribers increased by 42.5%, (38% domestically and 44% internationally). Military sales increased 30% and hardware sales had a slight 6% increase. We also added a new distribution channel through an agreement with Phoniro, a subsidiary of Assa Abloy, a leader in providing digital health care solutions to seniors across Denmark, Sweden, Norway, Finland, the Netherlands and U.K. We successfully delivered our first order to Hill Air Force Base, continued to support Edwards Air Force Base and continued to work with the Sri Lanka government.
In the spirit of exploring new opportunities, we started a new R&D project with our Canadian distributor to embed our tracking technology inside custom handmade orthotic insoles in order to enter a high-end and high price point specialized footwear market across Canada. We also began piloting our new Near Field Communication (NFC) Temperature Trackers. These tags provide real-time temperature sensing and data logging across the supply chain necessary with transportation of perishables such as food, beverages, pharmaceuticals, live organs and other temperature sensitive products that can be negatively affected by temperature conditions in transit. The data can be read by an NFC-enabled smartphone, which eliminates the use of special costly equipment and with our built-in security measures can be uploaded to our server in order to prevent unauthorized modification of data logs, allowing brands, retailers, and distributors to verify the quality of their perishable goods in transit, by confirming that temperature-sensitive products were shipped properly. This is still a new business silo we are exploring but we see this technology and market as a natural extension into the world of tracking, which takes us beyond humans and high value assets.
In summary, the first half of 2019 was a transformative period for GTX Corp and we expect these fundamental building blocks to position the Company for growth, during the second half of 2019. As we pointed out in our previous quarterly summary, management is focused on building high-margin, recurring revenues from service subscriptions, IP licensing and introducing to the market place new innovative technologies that produce a positive impact on society.
GTX Corp is a For-Profit with Purpose Company which has an extensive patent portfolio, is a proud U.S. military contractor and has multiple wearable tracking products sold through its online store, Amazon and authorized resellers and distributors servicing customers across the globe.
About GTX Corp
GTX Corp (GTXO) is a pioneer in smart, mobile and wearable GPS tracking and recovery location based products, supported through a proprietary IoT enterprise monitoring platform. GTX offers a global end-to-end solution of hardware, software and connectivity. GTX Corp develops 2 way GPS tracking technologies which seamlessly integrate with consumer products and enterprise applications. GTX Corp utilizes the latest in miniaturized, low power consumption GPS, Cellular, RF, BLE and NFC technology enabling subscribers to track in real time the whereabouts of people or high value assets through a complete end to end - customizable transceiver module, wireless connectivity gateway, smart phone Apps, middleware, and IoT portal. Headquartered in Los Angeles, California, GTX is known for its 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 Corp’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 agencies and municipalities, emergency and police authorities, private companies, public and private senior care homes, and consumers.
GTX Corp is an equal opportunity employer with a history of employing a diverse workforce and U.S. veterans; makes many of its products in the USA, is a member of the United Nations Global Compact and Trust 2 Protect partnership. The Company doesn’t just make and sell the best GPS tracking products, they deliver innovative, miniaturized, low power consumption wearable tech that provides safety, security and peace of mind at the touch of a button. GTX puts the "Where" in Wearable Tech.
Online: www.gtxcorp.com Track My Workforce | GTX Corp www.gpssmartsole.com
Social media - #withyou #smartsole #connectedandprotected #trackwhatyoulove
GTX Blog http://gtxcorp.com/press/
https://www.facebook.com/gtxcorpcom
http://www.twitter.com/gtxcorp
www.linkedin.com/in/gtxcorp
http://www.pinterest.com/GTXCorp/
http://instagram.com/gtxcorp
General information, investor relations, wholesale licensing, consumer purchase:
213.489.3019
info@gtxcorp.com
ir@gtxcorp.com
http://gtxcorp.com/contact-us/
GTX Corp United Kingdom
In the UK, GTX Corp operates from its London office. For more information, please contact:
Nelson Skip Riddle
Email: nsriddle@gtxcorp.com
Tel: +44 7785 364100
Disclaimer: GTX Corp does not warrant or represent that the unauthorized use of materials drawn from the content of this document will not infringe rights of third parties who are not owned or affiliated by GTX Corp. Further GTX Corp cannot be held responsible or liable for the unauthorized use of this document’s content by third parties unknown to the company.
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.
GTXO surpassed record WEEKLY volume in first hour of trading.
Record recent volume is below 4 million.
GTXO Outstanding Shares now 59,650,246 10/02/2019
https://www.otcmarkets.com/stock/GTXO/security
GTXO moving up on outstanding share reduction.
New number on OTC Markets:
SS update today with 40% OS reduction
Outstanding Shares
59,650,246
10/02/2019
Nice news yesterday and link back to post about 2nd Quarter results which were totally ignored by market.
Very sweet! Thanks for posting.
GTXO Outstanding Shares 90,650,246 09/03/2019
https://www.otcmarkets.com/stock/GTXO/security
NetObjex website.
https://www.netobjex.com/
GTX Corp Signs Collaboration Agreement with NetObjex
New partnership will provide the integration of the GTX Track & Trace products with the NetObjex Artificial Intelligence, Blockchain and IoT platform.
LOS ANGELES CALIFORNIA , Oct. 02, 2019 (GLOBE NEWSWIRE) -- GTX Corp (OTCQB: GTXO), a pioneer and global technology provider in the field of wearable GPS human and asset tracking systems and Real-Time Location Systems (RTLS) wandering assistive technology, today announced signing a collaboration agreement with Netobjex, Inc., an Irvine CA. based Intelligent and Integrated Automation platform for tracking, tracing and monitoring digital assets across different industry verticals by leveraging the power of IoT, AI, and Blockchain technologies.
Under the agreement, certain GPS, BLE and NFC based GTX devices will be integrated into the NetObjex backend platform and made available to the NetObjex vertical channel partners.
"We are excited about partnering with GTX as their capabilities are complementary to our platform offerings, and our focus on Tracking, Tracing, and Monitoring of Physical and Digital assets," said Raghu Bala, CEO of NetObjex.
Integration between NetObjex and GTX has already begun and once completed a joint customer pilot will be announced. Additionally, NetObjex will begin offering GTX enabled products to certain customers as part of the partnership.
"As part of our ongoing collaboration program we are pleased to partner with Netobjex and begin offering integrated smart hardware with their analytics platform and PiQube." stated Theresa Gordon, GTX Corp NFC business leader. We also congratulate them for being selected as one of the Top 15 companies globally at the Telcom Council innovation showcase event in Sunnyvale California.
About GTX Corp
GTX Corp (OTCQB: 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 Corp utilizes the latest in miniaturized, low power consumption GPS, Cellular, RF, NFC 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(R) -- 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 Corp'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, NGOs, private companies, public and private senior care homes, and consumers.
www.GTXCorp.com, Track My Workforce www.GPSSmartSole.com
Social media - #withyou #smartsole #connectedandprotected #trackwhatyoulove
GTX Blog http://gtxcorp.com/press/
https://www.facebook.com/gtxcorpcom
http://www.twitter.com/gtxcorp
www.linkedin.com/in/gtxcorp
http://www.pinterest.com/GTXCorp/
http://instagram.com/gtxcorp
General information, investor relations, wholesale licensing, consumer purchase:
213.489.3019
Info@GTXCorp.com
IR@GTXCorp.com
http://GTXCorp.com/contact-us/
GTX Corp United Kingdom
In the UK, GTX Corp operates from its London office. Please contact: Nelson Skip Riddle
Email: NSRiddle@GTXCorp.com
Tel: +44 7785 364100
About NetObjex
NetObjex is an Intelligent Automation Platform for Smart Cities and Connected Enterprises with applications in Energy, Transportation, Manufacturing/Industry 4.0, Supply Chain and Logistics, Media, Healthcare and more. Contact: Georgey Jacob, Director of Marketing, georgey@netobjex.com. Visit www.netobjex.com.
#CorporateInnovation #AI #DisruptiveTechnology
Disclaimer: GTX Corp does not warrant or represent that the unauthorized use of materials drawn from the content of this document will not infringe rights of third parties who are not owned or affiliated by GTX Corp. Further GTX Corp. cannot be held responsible or liable for the unauthorized use of this document's content by third parties unknown to the company.
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.
Attachment
-- GTX Corp
> Dow Jones Newswires
October 02, 2019 08:25 ET (12:25 GMT)
GTX Corp Signs Collaboration Agreement with NetObjex
New partnership will provide the integration of the GTX Track & Trace products with the NetObjex Artificial Intelligence, Blockchain and IoT platform.
LOS ANGELES CALIFORNIA , Oct. 02, 2019 (GLOBE NEWSWIRE) -- GTX Corp (OTCQB: GTXO), a pioneer and global technology provider in the field of wearable GPS human and asset tracking systems and Real-Time Location Systems (RTLS) wandering assistive technology, today announced signing a collaboration agreement with Netobjex, Inc., an Irvine CA. based Intelligent and Integrated Automation platform for tracking, tracing and monitoring digital assets across different industry verticals by leveraging the power of IoT, AI, and Blockchain technologies.
Under the agreement, certain GPS, BLE and NFC based GTX devices will be integrated into the NetObjex backend platform and made available to the NetObjex vertical channel partners.
"We are excited about partnering with GTX as their capabilities are complementary to our platform offerings, and our focus on Tracking, Tracing, and Monitoring of Physical and Digital assets," said Raghu Bala, CEO of NetObjex.
Integration between NetObjex and GTX has already begun and once completed a joint customer pilot will be announced. Additionally, NetObjex will begin offering GTX enabled products to certain customers as part of the partnership.
"As part of our ongoing collaboration program we are pleased to partner with Netobjex and begin offering integrated smart hardware with their analytics platform and PiQube." stated Theresa Gordon, GTX Corp NFC business leader. We also congratulate them for being selected as one of the Top 15 companies globally at the Telcom Council innovation showcase event in Sunnyvale California.
About GTX Corp
GTX Corp (OTCQB: 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 Corp utilizes the latest in miniaturized, low power consumption GPS, Cellular, RF, NFC 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(R) -- 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 Corp'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, NGOs, private companies, public and private senior care homes, and consumers.
www.GTXCorp.com, Track My Workforce www.GPSSmartSole.com
Social media - #withyou #smartsole #connectedandprotected #trackwhatyoulove
GTX Blog http://gtxcorp.com/press/
https://www.facebook.com/gtxcorpcom
http://www.twitter.com/gtxcorp
www.linkedin.com/in/gtxcorp
http://www.pinterest.com/GTXCorp/
http://instagram.com/gtxcorp
General information, investor relations, wholesale licensing, consumer purchase:
213.489.3019
Info@GTXCorp.com
IR@GTXCorp.com
http://GTXCorp.com/contact-us/
GTX Corp United Kingdom
In the UK, GTX Corp operates from its London office. Please contact: Nelson Skip Riddle
Email: NSRiddle@GTXCorp.com
Tel: +44 7785 364100
About NetObjex
NetObjex is an Intelligent Automation Platform for Smart Cities and Connected Enterprises with applications in Energy, Transportation, Manufacturing/Industry 4.0, Supply Chain and Logistics, Media, Healthcare and more. Contact: Georgey Jacob, Director of Marketing, georgey@netobjex.com. Visit www.netobjex.com.
#CorporateInnovation #AI #DisruptiveTechnology
Disclaimer: GTX Corp does not warrant or represent that the unauthorized use of materials drawn from the content of this document will not infringe rights of third parties who are not owned or affiliated by GTX Corp. Further GTX Corp. cannot be held responsible or liable for the unauthorized use of this document's content by third parties unknown to the company.
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.
Attachment
-- GTX Corp
> Dow Jones Newswires
October 02, 2019 08:25 ET (12:25 GMT)
Elixinol Global to Present at Upcoming U.S. Investor Conferences
Elixinol Global Limited (Elixinol Globalor the Company) (ASX:EXL; OTCQX:ELLXF),a global company operating in the industrial hemp and emerging medicinal cannabis sectors, is attending the following investor conferences in October 2019.
Canaccord Genuity US Cannabis SymposiumWhen: Thursday, 3 October 2019 Where: Sheraton Centre – Toronto Presentation:1x1 and small group meetings
Alliance Global Partners Consumer Cannabis Conference When: Thursday, 3 October 2019 Where: Pierre Hotel – New York CityPresentation:1x1 and small group meetings
For more information about the conferences or to schedule a one-on-one meeting with Elixinol Global’s management, please contact your respective conference representative
Ron DufficyChief Financial Officerron.dufficy@elixinolglobal.com
About Elixinol GlobalElixinol Global Limited (ASX:EXL; OTCQX:ELLXF) is a global leader in the cannabis industry, selling hemp-derived CBD dietary supplements, hemp food and wellness products, as well as the cultivation and manufacture of medicinal cannabis products.
Elixinol Global’s businesses include:
* Elixinol LLC (Elixinol), a manufacturer and global distributor of industrial hemp based dietary supplement and skincare products, with operations based out of Colorado, USA;
* Hemp Foods Australia Pty Ltd (Hemp Foods Australia), a leading hemp food wholesaler, retailer, manufacturer and exporter of bulk and branded raw materials, and finished products; and
* Nunyara Pharma Pty Ltd (Nunyara), founded in 2014 to participate in the emerging Australian medicinal cannabis market. Nunyara holds a manufacturing licence and its application for cultivation to the Office of Drug Control is currently pending approval.
See more at www.elixinolglobal.com
Is Elixinol Global (ASX:EXL) Using Debt Sensibly?
https://finance.yahoo.com/news/elixinol-global-asx-exl-using-022747285.html
Thanks, Ania77. Figured that was the case and added even before I knew why the free fall. Nice to see it confirmed.
Check out this January post, Pan O War.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=145827717&txt2find=plastics
Apparently he wasn't kidding. https://hempplastic.com/about-us/
Nice AH INPX volume after 8-K filed.
459,151 shares traded After Hours.
https://www.sec.gov/Archives/edgar/data/1529113/000121390019017398/f8k090619_inpixon.htm
Item 8.01 Other Events.
As of September 6, 2019, Inpixon has issued and outstanding (i) 47,466,399 shares of common stock, (ii) 1 share of Series 4 Convertible Preferred Stock, which is convertible into 202 shares of common stock, (iii) 126 shares of Series 5 Convertible Preferred Stock, which are convertible into 37,838 shares of common stock (subject to rounding for fractional shares), (iv) warrants to purchase up to 112,800 shares of common stock issued on January 15, 2019 in connection with Inpixon’s rights offering, exercisable at $3.33 per share, and (v) Series A warrants to purchase up to 6,392,602 shares of common stock, exercisable at $0.2775 per share.
In addition, as of September 6, 2019, all shares of Series 6 Convertible Preferred Stock have been converted and, therefore, no shares of Series 6 Convertible Preferred Stock are outstanding.
"2 falling ASX cannabis stocks to watch closely"
https://www.fool.com.au/2019/09/02/2-falling-asx-cannabis-stocks-to-watch-closely/
No entry of receiving or paying the $650K that I see.
They paid it off according to the 8K, but there is no entry in Cash Flow section of the 10-Q to show it was paid.
GTXO (.0092): Revenue up 472%, net profit.
GTX Corp Reports Second Quarter 2019 Financial Results and Corporate Summary Update
LOS ANGELES, CALIFORNIA, Aug. 20, 2019 (GLOBE NEWSWIRE) -- GTX Corp (OTCQB: GTXO) (“the Company”), a pioneer in the field of wearable GPS, people and asset tracking Location-Based Services (LBS) and Real-Time Location Systems (RTLS), today announced a summary for the Second Quarter ended June 30, 2019.
Second Quarter 2019 Financial Highlights:
Revenues for the three months ended June 30, 2019 were approximately $842k compared to approximately $147k for the comparable period in the prior year for an increase of approximately $695k, or approximately 472%.
Gross Profit Margin for the three months ended June 30, 2019 was 92% compared to 71% for the three months ended June 30, 2018. This increase in margin is primarily due to the increase in higher margin IP licensing, subscription services and military sales and service revenue during these periods.
Gain from Operations for the three months ended June 30, 2019 was $412k as compared to ($248k) for the comparable period in the prior year.
Total Revenue increased 472% over comparable 2018 period
IP Revenue increased 5,172% over comparable 2018 period
G&A decreased 27% over comparable 2018 period
Derivative and Amortization Expenses decreased 90% over comparable 2018 period
Net Income increased 154% from 2018, reflecting a profitable quarter
No Dilutive Financing
Six Month Financial Highlights
Overall Revenue increased 169% over 2018 comparable period
IP Licensing revenue increased 2,671% from 2018
G&A decreased 11% from 2018
Gross Margin, increased from 67% to 89%
Derivative and Amortization Expenses decreased 70%
Loss from Operations decreased 99% from 2018
Net Loss decreased 81%
First & Second Quarter 2019 Business Highlights and Developments
Completed the sale and licensing of GPS assets and Intellectual Property to Inpixon ( NASDAQ: INPX)
Completed delivery of initial order from Hill Air Force Base.
Expanded GPS SmartSole distribution across Canada, Denmark, Sweden, Norway, Finland, the Netherlands and U.K.
Overall Subscribers increased 42% over 2018 comparable period
International Subscribers increased 44% over 2018 comparable period
Domestic Subscribers increased 38% over 2018 comparable period
Increased IP revenues - Signed 3 patent license agreements in Q1, signed 3 in Q2, expect to sign several more in Q3
Launched new NFC Temperature Trackers
Began NFC pilot programs
Management commentary:Patrick Bertagna, GTX Corp CEO.
As highlighted above, we had a very significant and profitable quarter with $844,000 in revenues and $371,000 in profits. We saw double and triple digit increases in all the metrics we measure – revenues, subscribers, margins, profits, while our cost of operations remained steady, cash received in operations was positive, SG&A and net losses decreased.
Revenues as a whole in Q2 2019 increased by 472% or $694,857 in comparison to Q2 2018. The big catalyst this quarter was the Inpixon transaction and other IP licensing revenues which increased 5,172% or $646,500 and even though we don’t expect mid 6 figure IP income every quarter, the IP licensing part of our business is gaining momentum and we do expect to see continued growth this year. Service income increased by 81% or $43,912 as we continue to grow our subscriber base, and product revenues had a small increase of 6% or $4,444 over Q2 2018. We also saw a reduction in operational expenses and took on no new dilutive financing. Worth noting, even without the Inpixon transaction this quarter our revenues would still have been up approximately 30% over the 2018 comparable period.
In addition to a very strong IP licensing quarter, our overall subscribers increased by 42.5%, (38% domestically and 44% internationally). Military sales increased 30% and hardware sales had a slight 6% increase. We also added a new distribution channel through an agreement with Phoniro, a subsidiary of Assa Abloy, a leader in providing digital health care solutions to seniors across Denmark, Sweden, Norway, Finland, the Netherlands and U.K. We successfully delivered our first order to Hill Air Force Base, continued to support Edwards Air Force Base and continued to work with the Sri Lanka government.
In the spirit of exploring new opportunities, we started a new R&D project with our Canadian distributor to embed our tracking technology inside custom handmade orthotic insoles in order to enter a high-end and high price point specialized footwear market across Canada. We also began piloting our new Near Field Communication (NFC) Temperature Trackers. These tags provide real-time temperature sensing and data logging across the supply chain necessary with transportation of perishables such as food, beverages, pharmaceuticals, live organs and other temperature sensitive products that can be negatively affected by temperature conditions in transit. The data can be read by an NFC-enabled smartphone, which eliminates the use of special costly equipment and with our built-in security measures can be uploaded to our server in order to prevent unauthorized modification of data logs, allowing brands, retailers, and distributors to verify the quality of their perishable goods in transit, by confirming that temperature-sensitive products were shipped properly. This is still a new business silo we are exploring but we see this technology and market as a natural extension into the world of tracking, which takes us beyond humans and high value assets.
In summary, the first half of 2019 was a transformative period for GTX Corp and we expect these fundamental building blocks to position the Company for growth, during the second half of 2019. As we pointed out in our previous quarterly summary, management is focused on building high-margin, recurring revenues from service subscriptions, IP licensing and introducing to the market place new innovative technologies that produce a positive impact on society.
GTX Corp is a For-Profit with Purpose Company which has an extensive patent portfolio, is a proud U.S. military contractor and has multiple wearable tracking products sold through its online store, Amazon and authorized resellers and distributors servicing customers across the globe.
About GTX Corp
GTX Corp (GTXO) is a pioneer in smart, mobile and wearable GPS tracking and recovery location based products, supported through a proprietary IoT enterprise monitoring platform. GTX offers a global end-to-end solution of hardware, software and connectivity. GTX Corp develops 2 way GPS tracking technologies which seamlessly integrate with consumer products and enterprise applications. GTX Corp utilizes the latest in miniaturized, low power consumption GPS, Cellular, RF, BLE and NFC technology enabling subscribers to track in real time the whereabouts of people or high value assets through a complete end to end - customizable transceiver module, wireless connectivity gateway, smart phone Apps, middleware, and IoT portal. Headquartered in Los Angeles, California, GTX is known for its 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 Corp’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 agencies and municipalities, emergency and police authorities, private companies, public and private senior care homes, and consumers.
GTX Corp is an equal opportunity employer with a history of employing a diverse workforce and U.S. veterans; makes many of its products in the USA, is a member of the United Nations Global Compact and Trust 2 Protect partnership. The Company doesn’t just make and sell the best GPS tracking products, they deliver innovative, miniaturized, low power consumption wearable tech that provides safety, security and peace of mind at the touch of a button. GTX puts the "Where" in Wearable Tech.
Online: www.gtxcorp.com Track My Workforce | GTX Corp www.gpssmartsole.com
Social media - #withyou #smartsole #connectedandprotected #trackwhatyoulove
GTX Blog http://gtxcorp.com/press/
https://www.facebook.com/gtxcorpcom
http://www.twitter.com/gtxcorp
www.linkedin.com/in/gtxcorp
http://www.pinterest.com/GTXCorp/
http://instagram.com/gtxcorp
General information, investor relations, wholesale licensing, consumer purchase:
213.489.3019
info@gtxcorp.com
ir@gtxcorp.com
http://gtxcorp.com/contact-us/
GTX Corp United Kingdom
In the UK, GTX Corp operates from its London office. For more information, please contact:
Nelson Skip Riddle
Email: nsriddle@gtxcorp.com
Tel: +44 7785 364100
Disclaimer: GTX Corp does not warrant or represent that the unauthorized use of materials drawn from the content of this document will not infringe rights of third parties who are not owned or affiliated by GTX Corp. Further GTX Corp cannot be held responsible or liable for the unauthorized use of this document’s content by third parties unknown to the company.
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.
GTXO (.0092)PR. Revenue up 472%, net profit.
GTX Corp Reports Second Quarter 2019 Financial Results and Corporate Summary Update
LOS ANGELES, CALIFORNIA, Aug. 20, 2019 (GLOBE NEWSWIRE) -- GTX Corp (OTCQB: GTXO) (“the Company”), a pioneer in the field of wearable GPS, people and asset tracking Location-Based Services (LBS) and Real-Time Location Systems (RTLS), today announced a summary for the Second Quarter ended June 30, 2019.
Second Quarter 2019 Financial Highlights:
Revenues for the three months ended June 30, 2019 were approximately $842k compared to approximately $147k for the comparable period in the prior year for an increase of approximately $695k, or approximately 472%.
Gross Profit Margin for the three months ended June 30, 2019 was 92% compared to 71% for the three months ended June 30, 2018. This increase in margin is primarily due to the increase in higher margin IP licensing, subscription services and military sales and service revenue during these periods.
Gain from Operations for the three months ended June 30, 2019 was $412k as compared to ($248k) for the comparable period in the prior year.
Total Revenue increased 472% over comparable 2018 period
IP Revenue increased 5,172% over comparable 2018 period
G&A decreased 27% over comparable 2018 period
Derivative and Amortization Expenses decreased 90% over comparable 2018 period
Net Income increased 154% from 2018, reflecting a profitable quarter
No Dilutive Financing
Six Month Financial Highlights
Overall Revenue increased 169% over 2018 comparable period
IP Licensing revenue increased 2,671% from 2018
G&A decreased 11% from 2018
Gross Margin, increased from 67% to 89%
Derivative and Amortization Expenses decreased 70%
Loss from Operations decreased 99% from 2018
Net Loss decreased 81%
First & Second Quarter 2019 Business Highlights and Developments
Completed the sale and licensing of GPS assets and Intellectual Property to Inpixon ( NASDAQ: INPX)
Completed delivery of initial order from Hill Air Force Base.
Expanded GPS SmartSole distribution across Canada, Denmark, Sweden, Norway, Finland, the Netherlands and U.K.
Overall Subscribers increased 42% over 2018 comparable period
International Subscribers increased 44% over 2018 comparable period
Domestic Subscribers increased 38% over 2018 comparable period
Increased IP revenues - Signed 3 patent license agreements in Q1, signed 3 in Q2, expect to sign several more in Q3
Launched new NFC Temperature Trackers
Began NFC pilot programs
Management commentary:Patrick Bertagna, GTX Corp CEO.
As highlighted above, we had a very significant and profitable quarter with $844,000 in revenues and $371,000 in profits. We saw double and triple digit increases in all the metrics we measure – revenues, subscribers, margins, profits, while our cost of operations remained steady, cash received in operations was positive, SG&A and net losses decreased.
Revenues as a whole in Q2 2019 increased by 472% or $694,857 in comparison to Q2 2018. The big catalyst this quarter was the Inpixon transaction and other IP licensing revenues which increased 5,172% or $646,500 and even though we don’t expect mid 6 figure IP income every quarter, the IP licensing part of our business is gaining momentum and we do expect to see continued growth this year. Service income increased by 81% or $43,912 as we continue to grow our subscriber base, and product revenues had a small increase of 6% or $4,444 over Q2 2018. We also saw a reduction in operational expenses and took on no new dilutive financing. Worth noting, even without the Inpixon transaction this quarter our revenues would still have been up approximately 30% over the 2018 comparable period.
In addition to a very strong IP licensing quarter, our overall subscribers increased by 42.5%, (38% domestically and 44% internationally). Military sales increased 30% and hardware sales had a slight 6% increase. We also added a new distribution channel through an agreement with Phoniro, a subsidiary of Assa Abloy, a leader in providing digital health care solutions to seniors across Denmark, Sweden, Norway, Finland, the Netherlands and U.K. We successfully delivered our first order to Hill Air Force Base, continued to support Edwards Air Force Base and continued to work with the Sri Lanka government.
In the spirit of exploring new opportunities, we started a new R&D project with our Canadian distributor to embed our tracking technology inside custom handmade orthotic insoles in order to enter a high-end and high price point specialized footwear market across Canada. We also began piloting our new Near Field Communication (NFC) Temperature Trackers. These tags provide real-time temperature sensing and data logging across the supply chain necessary with transportation of perishables such as food, beverages, pharmaceuticals, live organs and other temperature sensitive products that can be negatively affected by temperature conditions in transit. The data can be read by an NFC-enabled smartphone, which eliminates the use of special costly equipment and with our built-in security measures can be uploaded to our server in order to prevent unauthorized modification of data logs, allowing brands, retailers, and distributors to verify the quality of their perishable goods in transit, by confirming that temperature-sensitive products were shipped properly. This is still a new business silo we are exploring but we see this technology and market as a natural extension into the world of tracking, which takes us beyond humans and high value assets.
In summary, the first half of 2019 was a transformative period for GTX Corp and we expect these fundamental building blocks to position the Company for growth, during the second half of 2019. As we pointed out in our previous quarterly summary, management is focused on building high-margin, recurring revenues from service subscriptions, IP licensing and introducing to the market place new innovative technologies that produce a positive impact on society.
GTX Corp is a For-Profit with Purpose Company which has an extensive patent portfolio, is a proud U.S. military contractor and has multiple wearable tracking products sold through its online store, Amazon and authorized resellers and distributors servicing customers across the globe.
About GTX Corp
GTX Corp (GTXO) is a pioneer in smart, mobile and wearable GPS tracking and recovery location based products, supported through a proprietary IoT enterprise monitoring platform. GTX offers a global end-to-end solution of hardware, software and connectivity. GTX Corp develops 2 way GPS tracking technologies which seamlessly integrate with consumer products and enterprise applications. GTX Corp utilizes the latest in miniaturized, low power consumption GPS, Cellular, RF, BLE and NFC technology enabling subscribers to track in real time the whereabouts of people or high value assets through a complete end to end - customizable transceiver module, wireless connectivity gateway, smart phone Apps, middleware, and IoT portal. Headquartered in Los Angeles, California, GTX is known for its 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 Corp’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 agencies and municipalities, emergency and police authorities, private companies, public and private senior care homes, and consumers.
GTX Corp is an equal opportunity employer with a history of employing a diverse workforce and U.S. veterans; makes many of its products in the USA, is a member of the United Nations Global Compact and Trust 2 Protect partnership. The Company doesn’t just make and sell the best GPS tracking products, they deliver innovative, miniaturized, low power consumption wearable tech that provides safety, security and peace of mind at the touch of a button. GTX puts the "Where" in Wearable Tech.
Online: www.gtxcorp.com Track My Workforce | GTX Corp www.gpssmartsole.com
Social media - #withyou #smartsole #connectedandprotected #trackwhatyoulove
GTX Blog http://gtxcorp.com/press/
https://www.facebook.com/gtxcorpcom
http://www.twitter.com/gtxcorp
www.linkedin.com/in/gtxcorp
http://www.pinterest.com/GTXCorp/
http://instagram.com/gtxcorp
General information, investor relations, wholesale licensing, consumer purchase:
213.489.3019
info@gtxcorp.com
ir@gtxcorp.com
http://gtxcorp.com/contact-us/
GTX Corp United Kingdom
In the UK, GTX Corp operates from its London office. For more information, please contact:
Nelson Skip Riddle
Email: nsriddle@gtxcorp.com
Tel: +44 7785 364100
Disclaimer: GTX Corp does not warrant or represent that the unauthorized use of materials drawn from the content of this document will not infringe rights of third parties who are not owned or affiliated by GTX Corp. Further GTX Corp cannot be held responsible or liable for the unauthorized use of this document’s content by third parties unknown to the company.
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.
GTX Corp Reports Second Quarter 2019 Financial Results and Corporate Summary Update
LOS ANGELES, CALIFORNIA, Aug. 20, 2019 (GLOBE NEWSWIRE) -- GTX Corp (OTCQB: GTXO) (“the Company”), a pioneer in the field of wearable GPS, people and asset tracking Location-Based Services (LBS) and Real-Time Location Systems (RTLS), today announced a summary for the Second Quarter ended June 30, 2019.
Second Quarter 2019 Financial Highlights:
Revenues for the three months ended June 30, 2019 were approximately $842k compared to approximately $147k for the comparable period in the prior year for an increase of approximately $695k, or approximately 472%.
Gross Profit Margin for the three months ended June 30, 2019 was 92% compared to 71% for the three months ended June 30, 2018. This increase in margin is primarily due to the increase in higher margin IP licensing, subscription services and military sales and service revenue during these periods.
Gain from Operations for the three months ended June 30, 2019 was $412k as compared to ($248k) for the comparable period in the prior year.
Total Revenue increased 472% over comparable 2018 period
IP Revenue increased 5,172% over comparable 2018 period
G&A decreased 27% over comparable 2018 period
Derivative and Amortization Expenses decreased 90% over comparable 2018 period
Net Income increased 154% from 2018, reflecting a profitable quarter
No Dilutive Financing
Six Month Financial Highlights
Overall Revenue increased 169% over 2018 comparable period
IP Licensing revenue increased 2,671% from 2018
G&A decreased 11% from 2018
Gross Margin, increased from 67% to 89%
Derivative and Amortization Expenses decreased 70%
Loss from Operations decreased 99% from 2018
Net Loss decreased 81%
First & Second Quarter 2019 Business Highlights and Developments
Completed the sale and licensing of GPS assets and Intellectual Property to Inpixon ( NASDAQ: INPX)
Completed delivery of initial order from Hill Air Force Base.
Expanded GPS SmartSole distribution across Canada, Denmark, Sweden, Norway, Finland, the Netherlands and U.K.
Overall Subscribers increased 42% over 2018 comparable period
International Subscribers increased 44% over 2018 comparable period
Domestic Subscribers increased 38% over 2018 comparable period
Increased IP revenues - Signed 3 patent license agreements in Q1, signed 3 in Q2, expect to sign several more in Q3
Launched new NFC Temperature Trackers
Began NFC pilot programs
Management commentary:Patrick Bertagna, GTX Corp CEO.
As highlighted above, we had a very significant and profitable quarter with $844,000 in revenues and $371,000 in profits. We saw double and triple digit increases in all the metrics we measure – revenues, subscribers, margins, profits, while our cost of operations remained steady, cash received in operations was positive, SG&A and net losses decreased.
Revenues as a whole in Q2 2019 increased by 472% or $694,857 in comparison to Q2 2018. The big catalyst this quarter was the Inpixon transaction and other IP licensing revenues which increased 5,172% or $646,500 and even though we don’t expect mid 6 figure IP income every quarter, the IP licensing part of our business is gaining momentum and we do expect to see continued growth this year. Service income increased by 81% or $43,912 as we continue to grow our subscriber base, and product revenues had a small increase of 6% or $4,444 over Q2 2018. We also saw a reduction in operational expenses and took on no new dilutive financing. Worth noting, even without the Inpixon transaction this quarter our revenues would still have been up approximately 30% over the 2018 comparable period.
In addition to a very strong IP licensing quarter, our overall subscribers increased by 42.5%, (38% domestically and 44% internationally). Military sales increased 30% and hardware sales had a slight 6% increase. We also added a new distribution channel through an agreement with Phoniro, a subsidiary of Assa Abloy, a leader in providing digital health care solutions to seniors across Denmark, Sweden, Norway, Finland, the Netherlands and U.K. We successfully delivered our first order to Hill Air Force Base, continued to support Edwards Air Force Base and continued to work with the Sri Lanka government.
In the spirit of exploring new opportunities, we started a new R&D project with our Canadian distributor to embed our tracking technology inside custom handmade orthotic insoles in order to enter a high-end and high price point specialized footwear market across Canada. We also began piloting our new Near Field Communication (NFC) Temperature Trackers. These tags provide real-time temperature sensing and data logging across the supply chain necessary with transportation of perishables such as food, beverages, pharmaceuticals, live organs and other temperature sensitive products that can be negatively affected by temperature conditions in transit. The data can be read by an NFC-enabled smartphone, which eliminates the use of special costly equipment and with our built-in security measures can be uploaded to our server in order to prevent unauthorized modification of data logs, allowing brands, retailers, and distributors to verify the quality of their perishable goods in transit, by confirming that temperature-sensitive products were shipped properly. This is still a new business silo we are exploring but we see this technology and market as a natural extension into the world of tracking, which takes us beyond humans and high value assets.
In summary, the first half of 2019 was a transformative period for GTX Corp and we expect these fundamental building blocks to position the Company for growth, during the second half of 2019. As we pointed out in our previous quarterly summary, management is focused on building high-margin, recurring revenues from service subscriptions, IP licensing and introducing to the market place new innovative technologies that produce a positive impact on society.
GTX Corp is a For-Profit with Purpose Company which has an extensive patent portfolio, is a proud U.S. military contractor and has multiple wearable tracking products sold through its online store, Amazon and authorized resellers and distributors servicing customers across the globe.
About GTX Corp
GTX Corp (GTXO) is a pioneer in smart, mobile and wearable GPS tracking and recovery location based products, supported through a proprietary IoT enterprise monitoring platform. GTX offers a global end-to-end solution of hardware, software and connectivity. GTX Corp develops 2 way GPS tracking technologies which seamlessly integrate with consumer products and enterprise applications. GTX Corp utilizes the latest in miniaturized, low power consumption GPS, Cellular, RF, BLE and NFC technology enabling subscribers to track in real time the whereabouts of people or high value assets through a complete end to end - customizable transceiver module, wireless connectivity gateway, smart phone Apps, middleware, and IoT portal. Headquartered in Los Angeles, California, GTX is known for its 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 Corp’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 agencies and municipalities, emergency and police authorities, private companies, public and private senior care homes, and consumers.
GTX Corp is an equal opportunity employer with a history of employing a diverse workforce and U.S. veterans; makes many of its products in the USA, is a member of the United Nations Global Compact and Trust 2 Protect partnership. The Company doesn’t just make and sell the best GPS tracking products, they deliver innovative, miniaturized, low power consumption wearable tech that provides safety, security and peace of mind at the touch of a button. GTX puts the "Where" in Wearable Tech.
Online: www.gtxcorp.com Track My Workforce | GTX Corp www.gpssmartsole.com
Social media - #withyou #smartsole #connectedandprotected #trackwhatyoulove
GTX Blog http://gtxcorp.com/press/
https://www.facebook.com/gtxcorpcom
http://www.twitter.com/gtxcorp
www.linkedin.com/in/gtxcorp
http://www.pinterest.com/GTXCorp/
http://instagram.com/gtxcorp
General information, investor relations, wholesale licensing, consumer purchase:
213.489.3019
info@gtxcorp.com
ir@gtxcorp.com
http://gtxcorp.com/contact-us/
GTX Corp United Kingdom
In the UK, GTX Corp operates from its London office. For more information, please contact:
Nelson Skip Riddle
Email: nsriddle@gtxcorp.com
Tel: +44 7785 364100
Disclaimer: GTX Corp does not warrant or represent that the unauthorized use of materials drawn from the content of this document will not infringe rights of third parties who are not owned or affiliated by GTX Corp. Further GTX Corp cannot be held responsible or liable for the unauthorized use of this document’s content by third parties unknown to the company.
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.