In New Era of “Wearable Tech”

U.S. patent No. 8,760,286 Reinforces the Value of the GTX IP Portfolio and Strengthens its Position in a Rapidly Growing Multi Billion Dollar Market

 

Los Angeles, Calif. – July 8, 2014 – GTX Corp. (OTCQB: GTXO), a leading provider of personal location wearable technologies, was granted another U.S. patent related to its location based monitoring platform. The recently issued U.S. patent No. 8,760,286 (the ‘286 patent) is a significant addition to the existing family of communication protocol patents and to GTX Corp’s overall patent portfolio. GTX delivers solutions to a growing global audience of over 100 million people with cognitive memory disorders, including Alzheimer’s, dementia, Autism and Traumatic Brain Injuries (TBI) and has been building its intellectual property portfolio of Patents, Trademarks and URL’s since 2002.

 

-        The inventions of the ‘286 patent and its 36 claims generally cover the transmission of location data from a tracking device, of any kind, to a server, in the event that the tracking device is at some point in time unable to connect to the server and consequently has to store the location data until it is again able to establish a communication link. This feature preserves the “bread crumb trail” even when the device goes temporarily out of communication range.  The inventions also enable the remote modification of how frequently a tracking device buffers location data when the device is unable to communicate with the server.

 

-    The patent is not just restricted to footwear but has far broader implications, effecting ANY tracking device from embedded devises as in the case of the GPS SmartSole™ or GPS watch for example to the ubiquitous stand alone, hand held devices.

 

-    Patent ‘286 is part of a family of patents that GTX has filed over the years related to communication protocols with priority filing dates going back to February 8, 2008. In addition the company continues to exercise its ability to file additional patents around inventions related to the same area of core GPS functionality with the same early priority date; allowing the significance and importance of the patent(s) to all GPS related products to expand and grow.

 

"This is a potentially game changing event in our intellectual property roadmap,” commented Larry E. Henneman, Jr., GTX Corp’s patent counsel. “The ‘286 patent is very significant because it is relevant to a great majority of the GPS Tracking industry. The scope of this patent extends far beyond footwear applications and into areas such as GPS watches, other Wearables, hand-helds, and tracking devices in general. The additional value of the ‘286 patent is that it is one of a family of patents, that GTX Corp continues to build and expand upon, all entitled to a priority filing date going back to early 2008.”

 

“Patent ‘286 is a real strong addition to our IP portfolio because it applies to our flagship products such as the GPS SmartSoles, along with perhaps other competitive  technologies which require communications to a backend platform, hence strengthening our position within the wearable tech industry,” stated Andrew Duncan GTX Corp Director and head of IP strategy.

 

 

Patrick Bertagna, CEO of GTX Corp concluded, "Recently Nokia announced its entry into the wearable tech market, joining Apple, Samsung, Google and Microsoft, which enforces the reason why GTX has been investing in IP for over a decade, long before “wearable tech” was an Industry or buzz word.” As a pioneer in this space and now watching these companies enter the market, we are pleased to have made the early investments in building a robust IP portfolio and having had excellent counsel along the way, all together increasing the overall GTX enterprise value.”

 

 

About GTX Corp

GTX Corp (GTXO) is a pioneer in wearable technology and a leader in enterprise 2 way GPS real-time personal location based services. Founded in 2002, headquartered in Los Angeles, California and known for its game-changing and ward-winning patented GPS Smart Shoe, its block buster Smartphone GPS Tracking App, and patented GPS SmartSole, GTX provides solutions that answer the “where is” question: where is my mother, child, pet, vehicle and high value assets.

Through a robust enterprise platform and licensing business model the Company offers a complete end to end solution of location based hardware, middleware, apps, connectivity and professional services. Letting you know where or how someone or something is at the touch of a button, delivering security and peace of mind in an instant. GTX Corp also owns and operates LOCiMOBILE, Inc which develops applications for smart phones and tablets and Code Amber Alertag. The Company has a comprehensive intellectual property strategy and owns an extensive portfolio of patents, patents pending, registered trademarks, copy rights and URL's.

 

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Product and licensing e mail - info@gtxcorp.com or http://www.gtxcorp.com/about/licenseinquiry

 

Investor Relations ir@gtxcorp.com

 

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 at http://www.sec.gov). 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.