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8-K - GTX CORP | v178255_8k.htm |
EX-10.1 - GTX CORP | v178255_ex10-1.htm |
GTX
Corp and Aetrex Worldwide, Inc. Sign Licensing Agreement to Deliver Patented GPS
Shoes Worldwide
Aetrex,
a company committed to foot health for three generations and GTX Corp’s patented
GPS shoe technology are making it possible for caregivers of Alzheimer’s victims
to keep one step ahead of the millions of those afflicted that may
wander.
Los
Angeles, Calif. – March 24, 2010 – GTX Corp (OTCBB:
GTXO), a leader
in customizable, embedded 2-way GPS Personal Location
Services (PLS) solutions, moves one step closer to bringing personal GPS
tracking solutions to the 5.3 million seniors afflicted with dementia by signing
a four year, potential multi-million dollar license agreement with Aetrex Worldwide,
Inc.
Currently
scheduled for retail sale this summer, the Aetrex Ambulator® GPS Shoe will
provide millions of caregivers the means to help easily find those afflicted
with Alzheimer’s that wander and become lost. The GPS shoe will be available
through the Aetrex owned website www.foot.com, which
hosts approximately 300,000 visitors per month and was named by Yahoo! as the
best health care site “below the knee,” along with the www.gpsshoe.com
website, and a select group of assisted living facilities. GTX Corp’s eight
patents for the GPS shoe cover a GPS transceiver module that is placed within
the footwear and transmission of location coordinates to a central monitoring
station which disseminates the location data through the use of proprietary
software, cellular connectivity, the GTX Corp middleware platform and the secure
viewing portal.
“We
believe a miniaturized GPS tracking device embedded inside a therapeutic shoe is
the ideal solution for the millions afflicted with this terrible disease, and we
are very pleased, after many years of R & D, to partner up with a company
like Aetrex which has devoted 64 years to making foot health products,” states
Patrick Bertagna Chairman and CEO of GTX Corp.
“Aetrex’s
mission has always been to develop footwear and foot care products that combine
unrivaled technology with innovative designs,” said Evan Schwartz, President of
Aetrex Worldwide Inc. “This partnership is a terrific opportunity for
Aetrex to use our expertise to extend the brand beyond the comfort category and
help a segment of our population that is in need.”
The impact of Alzheimer’s:
Currently impacting 5.3 million victims, with predictions of 14 million US
victims by the year 2050; Alzheimer's disease is fast becoming "one of the
biggest public health dilemmas ever encountered," according to the National
Institute on Aging's deputy director, Gene Cohen. One in eight persons aged 65
and older have the Alzheimer’s disease. Every 70 seconds there is a new victim
of Alzheimer’s, the 6th leading
cause of death for seniors. Nearly 10 million caregivers, mostly family members,
spend $148 billion a year for the care of their loved ones. The simplicity
behind the GPS Shoe is that when a senior with Alzheimer’s wanders off more than
a pre-set distance, their caregiver will immediately receive a geo-fence alert
on their smartphone and computer, with a direct link to a Google map plotting
the wanderer’s location.
Andrew
Carle, a nationally recognized expert in 'Nana' technology for seniors and a
professor at George Mason University said; “up to 60% of individuals with
Alzheimer's will wander and become lost at least once during the progression of
the disease, and up to 70% of those who become lost will do so more than once.
The GPS shoe is both life saving and a resource saving technology that will be
instrumental in our ability as a nation to address the issues of
wandering.”
“If
Aetrex purchases the minimum number of units necessary to maintain its exclusive
license, this agreement will generate multiple millions of dollars in gross
revenues. In addition, upon the sale of the shoes, the Company will
receive significant monthly subscription fees from the end-users,” said Murray
Williams, the CFO of GTX Corp.
About
GTX Corp
GTX Corp
(GTXO.OB) a leader in embedded 2-way GPS real-time personal location
services (PLS) was founded in 2002 and is based in Los Angeles, California. The
Company has evolved from its early beginnings of putting micro GPS devices in a
shoe and continues to pave the way with innovative geo specific and proximity
alerting applications that help you know where someone or something is at the
touch of a button. Committed to being the "better people finder," GTX Corp owns
and operates LOCiMOBILE, Inc.
which develops GPS
Tracking applications for smart phones, Code Amber News
Service and Code Amber Alertag.
The Company has a comprehensive intellectual property strategy and owns an
extensive portfolio of patents, patents pending, registered trademarks,
copyrights and website properties. GTX Corp is well positioned to capture the
PLS Market through its diverse product platform, licensing model, brand
recognition and strategic partners.
About
Aetrex Worldwide, Inc.
Aetrex
Worldwide is recognized as a world leader in athletic, wellness and comfort
footwear and orthotics as well as foot care technology including the innovative
iStep® foot scanning technology. It is the industry leader in
pedorthic footwear, the leading manufacturer of mid-priced orthotics and the No.
1 provider of foot scanning and measuring technology for retailers and the
medical community. The New Jersey-based $60-million dollar corporation was
founded in 1946 and has remained privately owned by the Schwartz family for
three generations. For additional information, please visit www.aetrex.com.
For more
information regarding GTX Corp, please contact:
Ross
Silver
Investor
Relations
(213)
489.3019 ext 646
ir@gtxcorp.com
Joel
Margulies
Public
Relations
(310) 433
0299
jmargulies@gtxcorp.com
For more
information on Aetrex Worldwide, Inc., please contact:
Karen
Pineman
Public
Relations
(212)
725-4500
Kpineman@schwartz.com
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 or any other party referenced in this document cannot be
held responsible or liable for the unauthorized use of this document’s content
by third parties unknown to the company.
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