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GTX Corp (GTXO)

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Previous Close0.0079
Open0.0071
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range0.0062 - 0.0079
52 Week Range0.0047 - 0.0301
Volume77,575
Avg. Volume542,131
Market Cap842,586
Beta (5Y Monthly)2.57
PE Ratio (TTM)N/A
EPS (TTM)-0.0050
Earnings DateNov 17, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • GTX Corp Reports Third Quarter 2020 Financial Results and Corporate Summary Update
    GlobeNewswire

    GTX Corp Reports Third Quarter 2020 Financial Results and Corporate Summary Update

    GTX reports a profitable Third QuarterLOS ANGELES CALIFORNIA, Nov. 17, 2020 (GLOBE NEWSWIRE) -- GTX Corp (OTC: GTXO) (“the Company”), a pioneer in the fields of: health & safety, wearable GPS human and asset tracking systems and personal protective medical equipment and supplies, today announced financial results for the Third Quarter ended September 30, 2020 and provided the following corporate summary:Third Quarter Financial Highlights * Showed Net Profit. * Overall Revenue increased 7% over 2019 comparable period. * Product Sales increased 54% over 2019 comparable period. * Cash on Hand increased 198% over 2019 comparable period. * Net Loss decreased 101% from 2019 comparable period. * Current Debt & Liabilities reduced by $595K over 2019 comparable period. * Did not take on any new debt.Nine Month Financial Highlights * GTX showed a net profit for Q1, Q2 and Q3 of 2020. * Product Sales increased 151% over 2019 comparable period. * Total Operating Expenses decreased 24% from 2019:   * Wages & Benefits decreased 7% over 2019 comparable period. * Professional Fees decreased 48% from 2019 comparable period. * G&A decreased 30% from 2019 comparable period. * Loss from Operations decreased 631% from 2019 comparable period. * Other Income/(Expense) decreased 177% from 2019 comparable period * Net Loss decreased 108% from 2019 comparable period.Third Quarter 2020 Business Highlights and Developments * Broadened product offerings in the medical health and safety sectors. * Strong product sales, despite COVID-19. * Development progress on 4G SmartSole modules. * Issued a new patent. * Started a new NFC contactless supply chain pilot. * Expanded our “Made in America” product lines.Management commentary: Patrick Bertagna, GTX Corp CEO.In these unprecedented times we want to first and foremost extend our appreciation and gratitude to everyone that contributed to our third quarter of profitability in 2020. Your health, safety and prosperity are paramount to us, so please stay safe and positive, and together we will get through this pandemic stronger and better. We are GTX and we are With You!For the third quarter 2020, we saw a 7% increase in revenues and showed a net profit of slightly over $33k. By expanding our Health & Safety business we maintained our cash flow, broadened the visibility of our brand in the market, garnered a lot of new customers, and supported the national effort to keep people safe by providing high quality, FDA approved and many “Made in the U.S.A.” medical protective supplies. This expanded visibility in the wearable technology GPS tracking space is paying off as we are starting to see cross selling across all our product lines. Additionally, we have seen a noticeable increase in inquiries from our distributors for wearable technology, monitoring, and tracking solutions, which is the cornerstone of our business.Even though we are still being impacted by COVID-19 (“COVID”) and experiencing some temporary setbacks with product development, IP licensing and subscriptions, we expect these setbacks to subside as the economy and business operations start to return to normal.We are seeing a lot of demand for our flagship GPS SmartSole product and began testing our new 4G prototypes during this quarter. We found some issues with our first design, which were quickly resolved and now we have a second version of prototypes in production, which we expect to start testing in the coming weeks. We are also seeing some increase in activity in our IP licensing as the economy reopens. Subscriptions are still not back to pre COVID, however we expect those to start ramping up quickly as soon as we launch our new 4G SmartSoles.During the third quarter, we finalized hardware development of our next generation miniaturized GPS tracking device, which will utilize a host of new technologies, including CatM1, NB-IoT, Assisted GPS for better accuracy, faster location requests and less power consumption. This new hardware platform will be small enough to be embedded into our line of wearable technology and offered as a licensed hardware platform as well. The demand for our GPS SmartSoles is the highest it has been in over two years, so we are very focused and committed to getting our new product launched as quickly as possible.During the third quarter of 2020, GTX was issued a new patent by the United States Patent and Trademark Office (USPTO), U.S Patent No. 10,743,615 entitled “System and Method for Embedding A Tracking Device in a Footwear Insole.” This is GTX’s third patent related to embedding Real-Time Location Systems (RTLS) GPS wearable tracking technology into footwear. This patent covers different aspects of the GPS SmartSole product and we expect to receive more patents covering other aspects on related applications in the future as we continue to expand our IP portfolio in the wearable technology space, especially as the global wearable medical device market continues to grow and expecting to reach $9.4 billion by 2022. This third patent helps solidify our portfolio with respect to wearable tracking and monitoring technologies embedded in footwear.On the IP licensing front, during the third quarter 2020, we did not sign any new IP licensing agreements. We attribute this predominately to COVID-19, as many companies, legal teams, and court houses have not been operating at full capacity. We expect this to be a COVID related setback and for these revenues to slowly come back as the economy begins to fully reopen.Even with overall COVID setbacks we still managed to show net profits for all three quarters of 2020, increase our product sales by 151% comparable to same period last year, maintain a close to 50% profit margin, reduce our expenses by 24% (due to COVID) and have over $100k in paid-for inventory at the end of the quarter. Except for a government assisted very low interest SBA loan, which we have 30 years to pay off, we did not take on any new debt and continued to reduce our current liabilities, payables, and debt by $595K, while increasing our cash on hand and inventory.As we enter our 8th month of unprecedented times, we are cautiously optimistic, but the situation remains fluid as there is a growing concern for this second wave. One thing is for certain, there is a big desire for innovation and new solutions in the wearable technology healthcare industry post COVID-19 era, along with continued demand for PPE while the pandemic is still not fully under control. GTX has been at the forefront of many health and safety oriented innovative technologies, we pivoted early into the PPE business and built an entire new business unit under extremely challenging conditions.GTX Corp’s updated, full-line of PPE can be found on its dedicated website www.gtxmask.com (use promocode ‘open4biz’ and get a discount on your first order) We also just received our first shipment of Antibody tests and plan to announce distribution details shortly.For now, we hope all our stakeholders are safe and healthy and we will keep updating everyone as best we can through our weekly podcast, press releases and newsletters. Stay tuned we will be announcing shortlyMost widely known for its patented GPS SmartSole and Smartphone GPS Tracking App, GTX also owns and licenses a large portfolio of patents in the GPS and wearable technology space, is a U.S. military contractor, has several other consumer products available on its online store and Amazon and most recently soft launched its NFC Veritap solution. To find out more how you can buy or become an authorized reseller contact info@gtxcorp.com business development.About GTX Corp GTX Corp (OTC: 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 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. GTX is known for its game-changing and 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’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, private schools, assisted living facilities, NGOs, small business enterprises, senior care homes, and consumers. GTXCorp.com Track My Workforce GPS SmartSole.comSocial Media Hashtags \- withyou smartsole connectedandprotected trackwhatyouloveiot smartproducts nfc ble safety healthcare veritap exceptionmonitoring assettracking coronavirus face mask covid19GTX Blog https://gtxcorp.com/press/https://www.facebook.com/gtxcorpcomhttps://www.twitter.com/gtxcohttps://www.linkedin.com/in/gtxcorp https://www.pinterest.com/GTXCorp/https://instagram.com/gtxcorpGeneral information, investor relations, wholesale licensing, consumer purchase: 213.489.3019  Info@GTXCorp.com IR@GTXCorp.com Contact UsGTX 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 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 considering 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.

  • GTX Corp Expands its Line of Medical Products and Supplies and Launches “Made in America” 3-PLY Fashion Colors and Custom Branded Masks
    GlobeNewswire

    GTX Corp Expands its Line of Medical Products and Supplies and Launches “Made in America” 3-PLY Fashion Colors and Custom Branded Masks

    GTX Corp 3-PLY Fashion Colors and Custom Branded MasksLOS ANGELES, CALIFORNIA, Oct. 21, 2020 (GLOBE NEWSWIRE) -- GTX Corp (OTC: GTXO) (“GTX” or the “Company”), a pioneer in the field of health and safety, wearable GPS, human and asset tracking systems and personal protective medical equipment and supplies, announced today that it has signed a distribution agreement with Firstguard, a Los Angeles-based apparel factory to begin selling and distributing, high-quality, “Made in America,” 3-ply masks available in fashion colors and which can be custom branded.“We are thrilled to be working with the GTX Team. They continue to service the market with a broad range of products through innovation and awareness of their client’s protective equipment needs,” said Ray Lee, President of Firstguard, commenting on the relationship with GTX Corp.“As health officials keep reminding us of the 3 W’s to reduce the risks of COVID (‘Wear a mask, Wash your hands and Watch your distance’), and as businesses across the country reopen, this is a great opportunity for us to deliver fashionable, high quality, custom printed, in-your-face brand awareness and safety,” said Patrick Bertagna, GTX Corp CEO.These 99.9% bacterial filtration effective masks are superior in quality and feel, are made in Downtown Los Angeles and provide effective protection without the hospital look.“From a marketing perspective, they cost much less than branded T-shirts, key-chains, mugs and pens, with a more profound function and visual impact,” added Meghan Ravada, GTX Corp Customer Relations Manager. “Considering they only cost a few cents more to have custom branded ‘Made in L.A.’ masks, it’s really a no-brainer for businesses looking to protect their employees, clients and families and at the same time build awareness.”GTX has already started to receive orders from corporate entities and inquiries from government agencies. Current production capacity is approximately 60,000 masks daily with production expected to reach over 300,000 masks per day by December, 2020.The Company also recently started distributing PROSERIES high quality cold therapy products for the growing orthopedic rehabilitation market. Cryotherapy or cold therapy is a standard procedure in the treatment of “soft tissue” injuries, common in the sports world but also within the aging population. Experts opine that “R.I.C.E.” (‘Rest, Ice, Compression, and Elevation’) is an optimal formula for treatment and the medical community overwhelmingly agrees that ice outperforms the myriad of gel products available in the market. The application of ice and compression together has traditionally been difficult to achieve. However, this wearable ice compression therapy system is designed to hug the form of the body and apply deep, long-lasting, perfectly fitted ice treatment exactly where it is needed most.Widely known for its patented GPS SmartSole and Smartphone GPS Tracking App, GTX also distributes an extensive line of Personal Protective Equipment “PPE”, owns and licenses a large portfolio of patents in the GPS and wearable technology space, and is a GSA-approved military and government supplier. Many of the Company’s products are available at its online store and Amazon, and GTX recently soft launched its NFC Veritap solution. To find out more about how you can buy or become an authorized reseller of GTX products, contact our info@gtxcorp.com business development office.About GTX Corp GTX Corp (OTC: 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 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. GTX is known for its game-changing and 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’s business model is built around technology innovation and holds over 85 patents, with many issued patents in 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, private schools, assisted living facilities, NGOs, small business enterprises, senior care homes, and consumers. GTXCorp.com Track My Workforce GPS SmartSole.comSocial Media Hashtags \- withyou smartsole connectedandprotected trackwhatyouloveiot smartproducts nfc ble safety healthcare veritap exceptionmonitoring assettracking coronavirus face mask covid19GTX Blog https://gtxcorp.com/press/ https://www.facebook.com/gtxcorpcom https://www.twitter.com/gtxc https://www.linkedin.com/in/gtxcorp https://www.pinterest.com/GTXCorp/ https://instagram.com/gtxcorpGeneral information, investor relations, wholesale licensing, consumer purchase: 213.489.3019  Info@GTXCorp.com IR@GTXCorp.com Contact UsGTX 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 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 StatementsThis news release contains forward-looking statements. The terms and phrases “expect,” “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 considering 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.Attachment * GTX Corp

  • GTX Corp Global NFC Shipment Solutions Selected for Nomad Spirits Company Launch
    GlobeNewswire

    GTX Corp Global NFC Shipment Solutions Selected for Nomad Spirits Company Launch

    GTX Corp NFC Authentication From Source To ConsumerTrack & Trace sensitive shipments using energy-efficient NFC smart tagsLOS ANGELES CALIFORNIA, Oct. 05, 2020 (GLOBE NEWSWIRE) -- GTX Corp (OTCQB: GTXO), a global tech leader offering a suite of GPS and NFC tracking location-based solutions and blockchain-based logistics company ShipChain, today announced that Nomad Spirits Company is launching their premium Serpiente Ultra-Premium Tequila utilizing the Veritap NFC Solution.Mayo Akindele, Nomad Spirits President stated, "For our launch we wanted to ensure our customers would be able to have seamless interaction with our Serpiente Ultra-Premium Tequila bottles and tamper proof packaging, so we partnered with U.S. based GTX Corp to provide and program our NFC chips. Their ability to not only assist us on the technological aspects of the project, but also provide us with high quality labels with the NFC chips already embedded has proven to be highly valuable." Each handmade glass bottle filled with Serpiente Ultra-Premium Tequila will come with enhanced packaging equipped with tamper proof labels and interactive NFC chips. Consumers can tap their phones to the Serpiente pre-programmed NFC label and will be able to verify product authenticity and register for membership as brand ambassadors or influencers, right from their smartphone. The labels also serve as a direct to consumer marketing channel, reducing the number of intermediaries between the brand and the end consumer.“With a focus on innovative NFC technologies, products & services that are reshaping the supply chain and end consumer experience, our Veritap NFC tags do not require any special equipment, just an NFC enabled smartphone, making it very easy for anyone in the supply chain from source to end user to utilize this new track and trace technology. These tags provide total transparency for valuable, perishable shipments of premium wines and spirits, foods and pharmaceuticals along with our proprietary software which helps everyone in the supply chain see in real time where and how their products are doing,” stated Patrick Bertagna GTX Corp CEO.The built-in security measures of this technology can prevent the distribution of contaminated supplies in the marketplace and unauthorized modification of data logs, allowing brands, retailers, distributors, and freight forwarders to verify shipment quality and efficacy. “This has been an incredible project and I am so excited for the launch. It is amazing to be able to connect each unique bottle to each unique consumer via our Veritap NFC labels, this brings total supply chain transparency to a whole new level, really changing the customer experience,” stated Theresa Gordon, GTX Corp NFC business leader.The encrypted data collected from the tags will securely upload to the ShipChain blockchain backend providing completely secure and seamless authentication and chain of custody. This new “Tap & Track” service will also enable temperature-sensitive shipments to be efficiently monitored while in transit, with the potential to manage a range of new government regulatory requirements for perishable shipments, such as vaccines and other pharmaceuticals.About GTX Corp GTX Corp (OTC: 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 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. GTX is known for its game-changing and 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’s business model is built around technology innovation and holds over 85 patents, with many issued patents in 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, private schools, assisted living facilities, NGOs, small business enterprises, senior care homes, and consumers. GTXCorp.com Track My Workforce GPS SmartSole.comSocial Media Hashtags \- withyou smartsole connectedandprotected trackwhatyouloveiot smartproducts nfc ble safety healthcare veritap exceptionmonitoring assettracking coronavirus face mask covid19GTX Blog https://gtxcorp.com/press/ https://www.facebook.com/gtxcorpcom https://www.twitter.com/gtxc https://www.linkedin.com/in/gtxcorp https://www.pinterest.com/GTXCorp/ https://instagram.com/gtxcorpGeneral information, investor relations, wholesale licensing, consumer purchase: 213.489.3019  Info@GTXCorp.com IR@GTXCorp.com Contact UsGTX 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 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 StatementsThis news release contains forward-looking statements. The terms and phrases “expect,” “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 considering 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.Attachment * GTX Corp