SPYR, Inc’s New GeoTraq Division Eases Logistics and Generates ROI with Mobile IoT Asset Management

Rhea-AI Summary

SPYR, INC. (OTCQB: SPYR) announces that its subsidiary GeoTraq has completed a full suite of Mobile IoT asset management tools. These tools aim to significantly improve Return on Investment for enterprise customers across various industries. The miniature Tracker-Modules can report location data and sensor information, enhancing asset tracking globally. The completion of this product line positions GeoTraq to potentially revolutionize asset management by providing affordable and efficient solutions to combat costly asset loss, which can exceed $5 million annually in some sectors.

Positive

• Completion of a full suite of Mobile IoT asset management tools enhances capabilities.
• GeoTraq's technology enables tracking of various assets globally and affordably.
• Potential to significantly reduce costs associated with asset loss for enterprises.

Negative

• None.

GeoTraq’s Recently Completed Suite of IoT Asset Management Tools Now Viable in Most Industry Verticals

THE WOODLANDS, TX, Aug. 04, 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 its wholly owned subsidiary GeoTraq has now completed a full suite of Mobile IoT asset management tools that it believes can create significant Return on Investment (RO) for enterprise customers in most every industry vertical.

GeoTraq’s ultra small tracker simply allows customers to deploy what it believes are the smartest, most connected technological accounting and monitoring devices within the IoT, uniquely scalable due to a proprietary blend of affordability, compatibility and efficiency offered under the GeoTraq label.

Lost assets cost money, and lots of it.  In addition, asset loss is also costly in terms of time, labor, and even creditability.  Invariably, the problem crosses all sectors, from overseas medical device manufacturers to national and local furniture retailers which lose upwards of $5 million annually during overland shipments.  Reports indicate that the industry is on its way to 267 million active RFID and by 2027 covering industrial automation, logistics, supply chain, agriculture, construction, mining and related markets.

With its recent refinement and completion of its state-of-the-art product line, GeoTraq firmly believes it offers the most robust suite of Mobile IoT Modules for Asset Tracking that go virtually anywhere, track almost anything and eliminate some of the most significant barriers to deployment.

Vehicles, parts, boxes, pallets, people, equipment, furniture, etc, and GeoTraq Mobile IoT modules can now be tracked globally and affordably. GeoTraq’s penny-sized Tracker-Modules can report location data as well as sensor information using NB-IoT and LTE-M technology anywhere there is cellular coverage.

“GeoTraq is now well-positioned to drastically change the ways companies are viewing Asset Management,” stated Pierre Parent, GeoTraq’s Chief Technology Officer.  “As we significantly reduce the size and cost of our Tracker modules, the universe of assets that will be tracked grows simultaneously and exponentially.”

GeoTraq’s patented technology intelligently transmits small packets of data at scheduled times or for trigger-based events – such as your asset entering or leaving a geofence, or dangerous temperatures thresholds. Almost any type of sensor can be attached to our modules, bringing unparallelled flexibility to the implementation of asset tracking solutions. The global costs of lost assets are staggering – but an IoT asset tracking solution needn’t be. GeoTraq IoT modules for asset tracking power solutions you can rely on for security and speed, at a cost that can drive true ROI across the supply chain.

“Entirely new categories of assets will be tagged that are lower in value and size and we are already working with companies on disposable tracking tags that will be discarded along with the packaging and wrappers,” added Parent. “Frankly, this level of scalable, easily integrated system is revolutionary."

About SPYR Technologies

SPYR Technologies (SPYR) is a technology company which, through its subsidiary Applied Magix Inc., develops and resells Apple® ecosystem compatible products, with an emphasis on the growing multibillion-dollar IoT smart home and connected car markets and also through its subsidiary GeoTraq develops and manufactures fully entirely 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.

About GeoTraq

We have a vision for a simple, smart, connected world. We empower that vision through our self-contained, fully integrated mobile IoT modules. Our modules are designed with a small plug-and-play form factor for easy attachment of antenna, battery and sensors. Combined with low-cost connectivity, GeoTraq creates real ROI for all customers.

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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FAQ

What is the significance of SPYR's press release on August 4, 2022?

The press release announces the completion of GeoTraq's suite of Mobile IoT asset management tools, positioning the company to enhance asset tracking across multiple industries.

How can GeoTraq's tools impact ROI for enterprise customers?

GeoTraq's tools aim to provide significant Return on Investment by reducing costs related to asset loss, which can be substantial in various sectors.

What technology does GeoTraq use for its asset tracking solutions?

GeoTraq's Tracker-Modules utilize NB-IoT and LTE-M technology for reporting location and sensor data.

What are the industries that can benefit from GeoTraq's IoT tools?

Industries such as logistics, supply chain, agriculture, construction, and retail are highlighted as potential beneficiaries of GeoTraq's IoT solutions.