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The significance of this agreement is two-fold; it will increase the revenue stream for GTX Corp through licensing fees and existing product sales and will also expand the distribution channels for the Company with a licensee that touches one-quarter of the world's population. GTX Corp has a pipeline of products and solutions in development and Kalika Group will become the systems integrator and delivery channel for these new applications to an untapped market, providing tremendous opportunity for future growth and continued global market penetration.
GTX Corp and Kalika will immediately begin conducting product testing, establishing regional cellular connectivity and implementation of the GTX back-end tracking portal for the local markets, with an aggressive time line to soft launch in the first quarter of 2010. Kalika is looking to deploy a variety of end-user products including personal monitoring, integrated logistics management, vehicle tracking, the GPS Shoe and smart phone Apps; all to be availed through the GTX viewing portal which will be hosted and localized for the territories. Upon completion of the test phase, the agreement rolls into a 3 year exclusive licensing contract with up front fees and a commitment of over 70,000 units for all the territories over the 3 year period. Carlos Briceno, VP of Business Development for GTX Corp, has been working with the Kalika Group for months and states, "I believe Kalika will be a great partner. They have a strong technology background, are well entrenched in their market and have over 30 years of international business experience."
About the Kalika Group
The Kalika Group was founded in 1976 and has five operating companies in five business sectors: Software Outsourcing, Hydro power; Construction, International trading and FM Radio/Media. The Kalika Group is one of Nepal's largest and most respected business conglomerates. Headquartered in Kathmandu, Nepal and maintains a North American office in Baltimore, USA.
About GTX Corp
GTX Corp (GTXO.OB) develops and integrates 2-way GPS people connecting technologies which seamlessly integrate with consumer products and enterprise applications. The company offers a GPS location platform that enables knowing the whereabouts of people, pets, or high valued assets through its customizable transceiver module, wireless connectivity gateway, middleware, Apps and viewing portal all in real time. Committed to being the "better people finder" GTX Corp owns and operates LOCiMOBILE, Inc. which develops Apps connecting friends, co-workers and loved ones answering the "where you are" question, and Code Amber News Service, which is dedicated to the recovery of missing persons and is the leading US and Canadian syndicator of online Amber Alerts. Founded in 2002 and based in Los Angeles, California, the company has evolved from its early beginnings of putting a micro GPS device in a shoe - the patented smart-shoe - and continues to pave the way with innovative geo-specific and proximity alerting solutions that let you know where someone or something is at the touch of a button. The company believes in a strong intellectual property strategy and to date has an extensive portfolio of patents, patents pending, registered trademarks, copyrights, and URLs.
For more information regarding GTX Corp, please contact:
Ross Silver
Investor Relations
(213) 489-3019 ext 646
ir@gtxcorp.com
Matthew Chisum
Public Relations (Media Contact Only)
(310) 789-2461
matthew@prolificpr.com
GTX Corp does not warrant or represent that the unauthorized use of materials drawn form the content of this document will not infringe rights of third parties who are not owned or affiliated by GTX Corp. Further GTX Corp cannot be help responsible or liable for the unauthorized use of this document's content by third parties unknown to the company.
SOURCE GTX Corp
http://www.gtxcorp.com
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