GPS technology-focused holding company GTX Corp (OTC: GTXO) this morning announced that it has secured a revolving line of credit for production financing and has signed two new Canadian and U.S. distributors. According to the update, a private institutional partner will provide an interest and royalty based credit line, initially for $500,000 with potential for the lender to increase to $3 million, that GTXO can draw down on, as needed, based on product demand and receipt of purchase orders. In addition, the company has onboarded two new distributors, which officially launched SmartSole sales over the holidays, including Orange County, California-based Senior.com and Ottawa, Canada-based Red Dot Alerts. “We are excited to add Senior.com and Red Dot Alert to our growing list of distributors and now that we have secured non-dilutive product financing we expect to see continued growth with our Flagship GPS SmartSoles, along from the military, our track my workforce app, other GPS, BLE and NFC products, including our RT15 weapons tracker, Rover Tracker for pets and our line of supply chain management NFC asset tracking solutions,” GTX Corp CEO Patrick Bertagna stated in the news release.
To view the full press release, visit http://ibn.fm/f0BKQ
About GTX Corp
GTX Corp (GTXO) is a pioneer in Smart, Mobile and Wearable GPS tracking and recovery location based products, supported through a proprietary IoT enterprise monitoring platform. GTX offers a global end-to-end solution of hardware, software and connectivity. Headquartered in Los Angeles, California, GTX is known for its award-winning patented GPS SmartSole – Think Dr. Scholl’s meets LoJack, the world’s first invisible wearable technology GPS tracking device created for those at risk of wandering due to Alzheimer’s, dementia, autism and traumatic brain injury. GTX Corp’s business model is built around technology innovation and holds over 85 patents with many issued patents in the area of GPS tracking. The company has international distributors servicing customers in over 35 countries and is a US Military Government contractor. Other customers include public health authorities and municipalities, emergency and police authorities, private companies, public and private senior care homes, and consumers. GTX Corp is an equal opportunity employer with a history of employing a diverse workforce and US veterans; makes many of its products in the USA, is a member of the United Nations Global Compact and Trust 2 Protect partnership. The Company doesn’t just make and sell the best GPS tracking products, they deliver innovative, miniaturized, low power consumption wearable tech that provides safety, security and peace of mind at the touch of a button. GTX puts the “Where” in Wearable Tech. For more information, visit the company’s website at www.GTXCorp.com
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