SOURCE: GTX Corp.

GTX Corp.

March 02, 2016 08:00 ET

GTX Corp Granted New Communication Protocol Patent Under Family Tree Patent 286

U.S. Patent No. 9,219,978 Adds Value to the Overall GTX IP Portfolio and Strongly Enhances Its Position in a Rapidly Growing Multi-Billion Dollar Market

LOS ANGELES, CA--(Marketwired - Mar 2, 2016) - GTX Corp (OTC PINK: GTXO), a pioneer and global provider of personal location wearable technologies, was granted another U.S. patent related to its location based monitoring platform and communication protocols. The recently issued U.S. patent No. 9,219,978 is a significant addition to the existing family of communication protocol patents and to GTX Corp's overall patent portfolio. In addition, GTX recently filed another patent application in this family, thus preserving the right to file more patent applications in the future under the "286" banner with a February 2008 priority date.

"This is treasure trove of valuable inventions and another potential game changer in our Intellectual property portfolio," commented Larry E. Henneman, Jr., GTX Corp's patent counsel for over 10 years. "It is becoming more apparent that these patents are very significant, especially with a priority filing date going back to early 2008 when many of the location based technologies had not yet been fully developed, and certainly not with the functionality pertinent to wearable technology today. In addition the portfolio has a current pending application, which means that we can continue to file divisional and/or continuation patents claiming the comm protocol features that were disclosed in our original filing."

"The value of these patents for GTX is they extend far beyond our core footwear applications and into areas such as GPS watches, fitness wearables that track location, hand-held GPS devices, tracking apps on smartphones and tracking devices and platforms in general," said Andrew Duncan, GTX Corp director of business development. "We are extremely pleased to have been issued another patent in our very valuable family of patents which are key inventions to how almost all 2 way GPS devices function today."

All three of the GTX Corp patents -- US 8,154,401, US 8,760,286, and US 9,219,978, provide significant value especially because these patents are not limited to any particular form factor or industry and are applicable to any generic tracking device, which, in its simplest form includes a communication device (i.e. cell phone modem, blue tooth or Wi-Fi communicator), a location detector (i.e. GPS or Wi-Fi Module) and data memory. This technology is now commonly embedded in millions of devices, deployed across numerous industries.

Patrick Bertagna, GTX Corp CEO, concluded, "Back in 2008 as we were trail blazing wearable technology, Apple had yet to launch the iPhone, nobody had heard of Fitbit and GPS was mostly in cars, boats, planes and about to be introduced in our GPS smart shoes. Being at the forefront of this industry we created several protocols and filed patents on these inventions. Fast forward to 2016 and the world changed -- location based technologies are now ubiquitous! As a pioneer and forward thinker in this industry and having had excellent legal counsel along the way we made the early investments in building a robust IP portfolio which today is culminating not only as a barrier to entry to our core business but also increasing the overall GTX enterprise value."

The original patent specification that underlies the Communication Protocol family of patents describes many other potentially patentable communication/configuration features. Due to the current pending divisional application in this family of patents, GTX is entitled to and plans to pursue additional patents on several of these key features.

About GTX Corp

GTX Corp (GTXO) is a pioneer in Smart, Mobile and Wearable GPS, cellular and BLE tracking and recovery technology. Headquartered in Los Angeles, California, with distributors in over 14 countries, GTX is known for its game-changing and award-winning patented GPS Smart Shoe, blockbuster Smartphone GPS Tracking App, and innovative GPS and BLE SmartSole. GTX provides solutions that answer the "where" question: where is my mother, child, employee, vehicle, drone and high value assets. Through a robust global enterprise IoT monitoring platform and licensing subscription business model, the Company offers a complete end to end solution of 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 and was featured in a 38 page research piece which outlines the value proposition of the Company's IP portfolio and more recently in the SeeThruEquity research report.

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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.

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