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GeoTraq Provides Patent Smart Solutions for Simple IoT Problems

SPYR Technologies
SPYR Technologies

THE WOODLANDS, TX, Aug. 17, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – SPYR, INC. (OTCQB: SPYR), a diversified technology company developing products leveraging the Internet of Things (IoT) for consumer use and large-scale applications and industries, is pleased to announce that its patented technology allows the Company to offer “Smart Solutions for Simple IoT Problems.”

GeoTraq’s tiny IoT connectivity modems are squarely focused on providing the lowest power consumption curve and best battery conservation in the industry,” stated GeoTraq’s Chief Technology Officer, Pierre Parent. “Reducing the battery drain is key to making smaller, lower cost devices. Lower power consumption leads to smaller batteries and reduces cost, size and weight of the unit.”

“We view this as an imperative key to unlocking many underserved and even unserved IoT market opportunities,” Parent added.

Accordingly, GeoTraq is employing many innovations to achieve its low power consumption profile and many of these are included in their Patent 10,182,402.

“You have to attack this problem at all levels of the solution. Modem hardware design and firmware, network connectivity and timing, messaging structures and interaction with a customer’s backend systems all have to be considered,” said Parent.

The company’s WebTraq® Platform seamlessly manages most of this complexity and makes it easy for customers to enjoy the benefits of long battery life.

The company is focused on solving simple, blue-collar problems that dominate the massive IoT marketplace opportunity. At the end of the day, a rancher for example, needs to know if all the gates are closed. A builder wants to know if materials were delivered to a job site before sending a crew. An energy services company wants to know if a tank is near empty before scheduling a delivery.

“These are the simple IoT problems that GeoTraq is solving with patented technology that are easy to use. We make solving business problems as easy as possible for our customers,” said Parent.

About GeoTraq

GeoTraq is a Mobile IoT module manufacturer and connectivity provider. GeoTraq offers asset tracking and remote monitoring through Mobile IoT modules with global connectivity. GeoTraq Mobile IoT modules report location data with the ability to measure variables from external sensors, such as temperature, flow, pressure, humidity, motion, acceleration and more. The modules transmit data for scheduled reports or trigger-based event alerts. GeoTraq technology is designed to streamline business processes and increase operational efficiency to drive ROI and solve real business challenges. Visit GeoTraq online at www.GeoTraq.com.

About SPYR Technologies

SPYR Technologies (SPYR) is a technology company focused on IoT, or the Internet of Things. Through its subsidiary Applied Magix Inc., SPYR develops and resells Apple® ecosystem compatible products, with an emphasis on the growing multibillion-dollar IoT smart home and connected car markets. Through its GeoTraq business, SPYR develops and manufactures fully self-contained, ultra-small Mobile mobile IoT (Internet of Things) modules: Trackertracker-M modules for asset tracking and location-based services, and Sensorsensor-M modules used for remote monitoring. SPYR continues to identify and target acquisitions that will grow its footprint in the industry and expand the products it offers consumers, including companies developing artificial intelligence (AI) and smart technology products.

Forward-Looking Statements

This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not historical facts. Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.

Company Contact Info:
SPYR Inc.
6700 Woodlands Parkway, Ste 230 #331
The Woodlands, TX 77382
Email: tmatula@spyr.com

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