GTX Issued Two Patents from USPTO
U.S. patent number 11,272,761 is now the 4th patent to be issued in the GPS SmartSole family and U.S. patent 11,272,313 is now the 6th patent to be issued in the Comm Protocol family.
LOS ANGELES, CALIFORNIA, March 23, 2022 (GLOBE NEWSWIRE) -- GTX Corp (OTC: GTXO) (“the Company”), a pioneer in the field of health & safety wearable GPS human and asset tracking systems and personal protective medical equipment, announced today it has been issued two new patents by the United States Patent and Trademark Office (USPTO).
U.S. patent number 11,272,761 is now the 4th patent to be issued in the GPS SmartSole family and U.S. patent 11,272,313 is now the 6th patent to be issued in the Comm Protocol family.
The SmartSole patent 761 covers proprietary ways to protect and manufacture a GPS electronic module, including the inductive charging unit inside an orthotic insole. The patent has 20 claims, 2 of which are independent and an open continuation for further expansion, which has already been submitted to the USPTO.
“This 4th SmartSole patent not only strengthens our competitive barriers to entry, as we begin shipping our 4G SmartSoles, but also supports the overall value to the SmartSole platform, especially with the additional patents we expect in the future through ongoing continuation applications” said Andrew Duncan, GTX Corp Director.
U.S. Patent 313 which is now GTX’s 6th Comm Protocol family patent, which also has 20 claims, is significant for several reasons; first by adding another layer to GTX’s competitive landscape on device to backend server communications (which is expected to have even more value as the Company adds more biometric devices to its platform and unveils the Longevity Revolution), but also the Comm Protocol family has been the crown jewel of GTX’s IP licensing campaign. By adding this new patent with an open ongoing continuation (also recently filed with the USPTO), it should greatly enhance the strength and value for future licensing agreements,” stated Patrick Bertagna GTX Corp CEO.
GTX’s growing patent portfolio highlights the commitment the Company has dedicated over the years to protecting its innovations in order to position the Company for growth in the future. The strategy which was implemented over a decade ago, to file patents both on the hardware / device side and on the device / server communication side, while continuing that strategy all along the product development cycle, should support the increasing value of this intellectual property asset as the Company expands its platform from location monitoring to location and preventive care monitoring.
Most widely known for its patented GPS SmartSole and Smartphone GPS Tracking App, GTX also distributes an extensive line of Personal Protective Equipment “PPE”. GTX Corp is a For-Profit with Purpose Company, which owns, and licenses an expanding IP portfolio, is a U.S. military contractor and GSA contract approved supplier. The Company takes particularly pride that many of its products are manufactured in the U.S., and available on its online store, Amazon, and authorized resellers and distributors across the globe.
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About GTX Corp GTX Corp (OTC: GTXO) is a pioneer in smart, mobile, and wearable GPS tracking and recovery location-based solutions, supported through a proprietary IoT enterprise monitoring platform and intellectual property portfolio. GTX offers a global end-to-end solution of hardware, software and connectivity and develops two-way GPS tracking technologies, which seamlessly integrate with consumer products and enterprise applications. GTX utilizes the latest in miniaturized, low power consumption GPS, Cellular, RF, NFC and BLE technology, enabling subscribers to track in real time the whereabouts of people or high value assets. GTX is known for its game-changing and award-winning patented GPS SmartSole® -- think Dr. Scholl’s meets LoJack, the world’s first invisible wearable technology tracking device created for those at risk of wandering due to Alzheimer’s, dementia, autism, and traumatic brain injury. GTX’s business model is built around technology innovation and holds over 85 patents, with many issued patents in GPS tracking. The company has international distributors servicing customers in over 35 countries and is a U.S. Military Government contractor. Other customers include public health authorities and municipalities, emergency and law enforcement, private schools, assisted living facilities, NGOs, small business enterprises, senior care homes, and consumers.
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Forward Looking Statements
This news release contains forward-looking statements. The terms and phrases “expect,” “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 considering 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 on the SEC Website). 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.
