MetAlert Inc (MLRT)

[petermic]

On May 12, 2008, GTX Corp, a Nevada corporation, ("GTX Corp" or the "Company") completed a sale to thirty-four (34) investors pursuant to a Securities Purchase Agreement of $1,742,000 in units (each a "Unit") of the Company's securities at a price of $1.00 per Unit (" Financing") . Each Unit consists of one share of common stock ("Common Stock") and one warrant ("Warrant") to purchase one share of Common Stock. Each Warrant is exercisable at an exercise price of $1.50 per share for a term of three years. Accordingly, an aggregate of 1,742,000 shares of Common Stock and Warrants to purchase an additional 1,742,000 shares of Common Stock were issued to investors. The Common Stock and Warrants issued in the Financing have standard piggy-back registration rights. The net proceeds of the financing will be used by GTX Corp for general working capital purposes.

GTX Corp agreed to pay up to 7% cash and 7% warrant coverage as commissions to registered broker-dealers or unregistered finders in connection with the Financing. As a result GTX Corp paid an aggregate of $118,750 and 118,750 Warrants to five (5) finders.