March 03, 2009 06:42 ET

Validation of 2-Way GPS Marketplace Shifts Demand From Technology to Customizable Applications

Addressing That Demand, Technological Visionary and Former Apple CEO Joins GTX Corp in Its Commercialization Strategy

LOS ANGELES, CA--(Marketwire - March 3, 2009) - GTX Corp (OTCBB: GTXO), a leader in customizable 2-Way Global Positioning Systems (GPS) / Position Location Systems (PLS) applications, accelerates its "go-to-market" strategy through its product expansion and the addition of Dr. Gilbert Amelio of Alteon Capital Partners as a Strategic Advisor.

Wireless subscriber adoption is building year after year and is estimated to exceed four billion mobile handsets globally in 2011 according to Wireless Intelligence, the GSMA's market intelligence unit. An increasing number will have GPS and positioning capability. GTX Corp is implementing an accelerated plan to address this burgeoning opportunity by leveraging its intellectual property portfolio and product line with leading edge Location Based Solutions. Continuing its strategy of building its team of premier strategic advisors, GTX Corp is bringing on Dr. Gilbert Amelio and George Lauro, Managing Partners of Alteon Capital Partners. Alteon provides financing, corporate development, transformation/repositioning and value recovery services for companies commercializing leading-edge technologies.

Dr. Amelio will advise GTX Corp on advancing the company in the GPS / PLS space. With the approaching launch of LOCi Mobile™ and the expansion of Code Amber News Service (CANS), two of the company's new properties that leverage the mobile marketplace, Dr. Amelio will provide guidance to the executive team through its deployment into the market while continuing to assist the company in increasing its intellectual property portfolio and shareholder value.

"As GTX Corp approaches the tipping point of readiness in consumer adoption, I am enthusiastic about being a part of this next wave of consumer PLS applications. Allowing users to customize and personalize geo-location information opens up a tremendous marketplace," said Dr. Amelio. "This expanded capability should make 2-way GPS ubiquitous. GTX Corp's ability to license a customizable platform will address the healthy and ramping demand for these applications. Now that the company has harnessed this unique technology, I welcome the opportunity to help steer GTX Corp during its passage from an early stage company to a corporation on the global stage."

"2-way GPS in concurrence with the proliferation of four billion cell phones represents a seismic shift in the marketplace. Subscribers want to receive and interact spontaneously to life's circumstances," said Patrick Bertagna, CEO and President of GTX Corp. "As GTX continues to architect its platform we look forward to working with Dr. Gil Amelio who has continuously transformed the technologically complex into widely adopted user friendly formats."

Dr. Amelio's vision and experience spans over 35 years in high technology. He was Chairman and CEO of Apple Computer, Inc., Group President of Rockwell International, Chairman, President, and CEO of National Semiconductor Corporation, and most recently Chairman and CEO of Jazz Technologies. Dr. Amelio is a former Director and Chairman of the Semiconductor Industry Association and since 1996 has been an advisor to the Malaysian Prime Minister and to the Malaysia Multimedia Super Corridor. He is an IEEE Fellow, has been awarded 16 patents, and received his Ph.D. from the Georgia Institute of Technology. He is the co-author of three books, An American Imperative (1993), Profit from Experience (1995) and On the Firing Line: My 500 Days at Apple (1998), the latter two of which were best sellers. In addition to his role at Alteon Capital Partners and Sienna Ventures, Dr. Amelio sits on the Board of Director of AT&T and is an active member in the venture capital community.

About GTX Corp

Committed to pioneering, creating and delivering customized personal location solutions empowering the global community, GTX Corp develops miniaturized Global Positioning Satellite (GPS) tracking and location-transmitting technology for integration into branded licensee consumer products. The company's Personal Location Services (PLS) platform consists of a location-reporting module that utilizes GTX Corp's "always-on" Assisted-GPS tracking capabilities. At the convergence of technology, media and telecommunications the gpVector™ system uses cellular transmission provided by our wireless carrier partner, AT&T, to deliver real-time geographic coordinates, rendered on Google Maps, to subscribers via secure internet connections. The company is headquartered in Los Angeles, California, with an R&D facility in Palo Alto California.

About Alteon Capital

Alteon Capital Partners provides financing, corporate development, transformation/repositioning and value recovery services for companies commercializing leading-edge technologies. We are a team of highly experienced Tech Industry executives, investors and entrepreneurs bringing years of operating, senior executive and Board-level experience. Partners Gil Amelio and George Lauro have been senior executives in firms ranging from deep-technology startups to Fortune 500 companies and venture capital firms. Alteon provides strategic and financial assistance to help technology companies accelerate growth and commercial success. We work with companies through all phases of evolution, from initial formation through growth and to exit.

Contact Information

  • For more information regarding GTX Corp, please contact:

    Ross Silver
    Investor Relations
    Vista Partners
    (310) 744-5268
    Email Contact

    Matthew Chisum
    Public Relations (Media Contact Only)
    Prolific PR, Inc.
    (310) 789-2461
    Email Contact

    For more information regarding Alteon Capital Partners, please contact:

    George Lauro
    Managing Director
    Alton Capital Partners
    (408) 688-1982
    Email Contact