GTX Corp. (GTXO) Reports Strong Third Quarter Performance, O GTX Corp. (GTXO) Reports Strong Third Quarter Performance, Outlines Plans for Sustainable Market Growth
In a news release earlier today, GTX Corporation announced its financial results for the fiscal quarter ended September 30, 2015. The company’s efforts to expand upon its existing distribution channels and build pivotal strategic alliances resulted in favorable short-term gains, as it recorded a 189 percent year-over-year increase in total revenues alongside a 169 percent decrease in total expenses. In total, GTXO added three European countries to its distribution list during the quarter and signed a pivotal global connectivity agreement with Telefonica (NYSE: TEF), one of the largest telephone operators and mobile network providers on the planet.
For the remainder of 2015, GTXO plans to continue implementing its broadened growth strategy in an effort to increase sales in all three of its product categories – including embedded, stand alone and digital tracking and monitoring solutions. The company’s GPS SmartSole® product, in particular, is expected to provide a strong channel for industry growth in the coming months. GTXO finalized development of the next-generation monitoring platform in the third quarter, and commercial release is currently scheduled for early 2016.
With its innovative GPS SmartSole products, GTXO is already making waves in a wearable technology market that’s currently led by major tech firms such as Microsoft (NASDAQ: MSFT) and Samsung (OTC: SSNLF). At CTIA’s Super Mobility Awards, GPS SmartSole finished second for its revolutionary approach to location monitoring, as well as its potential to address a critically underserved need in the medical community in regard to people afflicted with cognitive memory disorders such as Alzheimer’s, dementia, autism and traumatic brain injury.
According to a report by the Alzheimer’s Association, roughly six in 10 people with dementia will wander, potentially putting themselves in serious danger should they become disoriented. Although 94 percent of individuals who wander are found within 1.5 miles of where they were last seen, many are unable to recall their names and addresses. As a result, loved ones are tasked with locating these individuals and returning them to safety in a timely manner. GTXO’s GPS SmartSole minimizes the risk associated with these incidents by providing real-time tracking services that fit easily into most adult shoes.
As GTXO continues to advance toward establishing a global subscriber base with its revolutionary next-gen technologies, the company is in a strong position to build on its recent financial performance throughout the remainder of 2015 and into the future. GTXO’s short-term goals include continuing to expand distribution channels, reaching out to broader market segments, increasing brand and product awareness and, ultimately, maximizing its global subscriber base.
“Together, these initiatives underwrite our corporate mission to build a best in class solution for the millions of people all over the world who need a simple, affordable and effective tracking and monitoring solution,” Patrick Bertagna, chief executive officer of GTXO, stated in the news release.
For more information about GTX Corporation, visit www.gtxcorp.com/
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