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LOS ANGELES, CA--(MARKET WIRE)--Mar 3, 2009 -- GTX Corp (OTC BB:GTXO.OB - News), 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.
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GTXO-Applies Global Positioning Technology to Everyday Life
The Global Positioning System (GPS) is a satellite navigational system that was originally created by the U.S. Department of Defense. A network of eighteen satellites was initially launched into space with six allocated to three different orbital planes. Today, the system has 29 active satellites that create reference points, enabling geographical positions to be calculated within several meters of accuracy.
Business travelers can easily incorporate GTX Corp.’s GPS technology into their lives by incorporating the patent-pending hereIM™ software into a compatible smartphone. The software actually switches the smartphone from a one-way GPS receiver into a two-way receiver and transmitter. By enabling this function, businesses are able to pinpoint the user’s position. hereIM™ also enables navigation and mapping, as well as the ability to receive traffic and weather updates. Installing the GTX software onto a phone can also add an extra level of comfort to family when a loved one travels for a living.
Those who lead an active lifestyle can also easily benefit from the company’s technology. But being on a hiking trail, on the ski slopes, and in rivers can destroy even the hardiest of cell phones. The company’s GTX Wearable Caddy is a buoyant, waterproof, and shockproof device that is built to withstand the rigorous antics of sports enthusiasts. The caddy is made to be as light and unobtrusive as a carabiner, which most athletes use to secure water bottles to bags and backpacks.
GTX has a Personal Location Services (PLS) platform that syncs with its products 24/7. The system is able to provide real-time geographic coordinates on any of its devices, rendering locations on Google Maps via secure Internet connections. GTX continues to develop products that enable everyday people to add an extra level of security and functuality into their lives.
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