GTXO - GTXO STOCK NEWS

GTX Corp (OTCQB: GTXO) announces that its SmartSole has been recognized in the aPlace for Mom list of Best GPS Tracking Devices for seniors with dementia. This recognition highlights the company’s innovation in wearable GPS technology aimed at aiding those with Alzheimer’s, dementia, and autism. In a recent investor presentation at the LD Micro Invitational, CEO Patrick Bertagna discussed the market potential for their products, including the upcoming launch of additional wearable devices, emphasizing their commitment to advancing senior healthcare.

GTX Corp (OTC: GTXO) reported a 27% decline in revenue for Q1 2022 compared to the prior year, primarily due to a transition away from PPE sales. Despite lower revenues, the company achieved a gross margin increase from 36% to 42%. The CEO noted a 132% rise in B2B sales and a 34% reduction in net loss. Key developments included successful 4G testing for their SmartSole product and two new patents issued by the USPTO, enhancing their intellectual property portfolio. GTX aims to ramp up sales of its SmartSoles and NFC products as it navigates post-pandemic operations.

GTX Corp (OTC: GTXO) has partnered with ProteGear.com to launch an advanced GPS SmartSole in Germany, utilizing LTE Cat M1 technology. This product targets the burgeoning senior healthcare market, which serves nearly 84 million people, with a focus on individuals with cognitive disorders such as Alzheimer’s and dementia. The SmartSole boasts a battery life of up to 5 days and a high-performance GPS tracking system. Demand for such technology is reportedly high among caregivers and senior care organizations, aiming to enhance safety and reduce institutional care costs.

GTX Corp (OTCQB: GTXO) has signed a national agreement with Posifon AB, allowing all healthcare providers in Sweden to access its GPS SmartSole tracking solutions. Approximately 3% of Sweden's population faces cognitive issues, creating a significant market for the GPS SmartSole to enhance safety for Alzheimer’s and dementia patients. This partnership will facilitate procurement across over 1,100 healthcare organizations, potentially increasing distribution volumes. The GPS SmartSole integrates state-of-the-art GPS technology and aims to address the growing challenge of patient wandering.

GTX Corp (OTC: GTXO) reported its financial performance for the fiscal year ending December 31, 2021. Key highlights include a 44% decrease in revenue compared to 2020, although cash on hand increased by 44%. The company reduced its accounts payable and inventory by 16% while increasing its customer base by 53%. Operating expenses rose by 7%, with debt decreasing by 22%. GTX is pivoting towards wearable technology, specifically the launch of its new 4G SmartSoles, which are set to integrate Bluetooth medical data transmission. The company expects a favorable outlook for 2022.

GTX Corp (OTC: GTXO) announced the issuance of two new patents by the USPTO, strengthening its position in the GPS tracking market. The patents include U.S. patent 11,272,761, the fourth in the GPS SmartSole family, and U.S. Patent 11,272,313, the sixth in the Comm Protocol family. The new SmartSole patent enhances the product's manufacturing and protective features. This growth in the patent portfolio supports GTX’s competitive positioning and is expected to enhance its value in future licensing agreements.

GTX Corp (OTC: GTXO) announced the launch of sales for a new asymptomatic COVID screening test with 96.8% accuracy. This non-invasive test, which can be self-administered using a simple smell test and an app, provides immediate results in less than a minute. It aims to provide an affordable pre-screening solution for individuals and organizations, allowing early detection of COVID-19. Opu Labs CEO emphasizes the test's ability to detect the virus early through the olfactory glands.

GTX Corp (OTC: GTXO) announced the receipt of a notice of allowance for a new patent from the USPTO, marking the 4th utility patent in its GPS SmartSole series. This patent includes 20 claims, encompassing innovative designs for integrating GPS technology within an insole, including inductive charging capabilities. The patent underscores GTX's commitment to advancing wearable technology, coinciding with the upcoming launch of its new 4G Cat M1 GPS SmartSole. The company aims to strengthen its competitive edge in the market through ongoing investments in intellectual property.

GTX Corp (OTC: GTXO) reported a 42% revenue decline in Q3 2021 compared to the same period last year, but showed positive trends in other metrics. Gross margin increased by 2%, and cash on hand rose by 29%. Total liabilities and debt decreased by 5% and 11%, respectively. The company faced supply chain challenges affecting production but has begun manufacturing its 4G SmartSoles with strong pre-order demand. New collaborations are planned to expand product lines, and the PPE market remains a focus due to ongoing COVID-19 concerns.