By: Dylan Sikes - AllPennyStocks.com News

Wednesday, September 3, 2014

Wearable technologies are still very new and their viability to achieve commercial success was initially in question, but they seem to be gaining traction in their infancy. Originally thought to probably only serve a novelty niche market, consumers are starting to witness the collision of fashion and tech. This is helping to put behind the initial stigma of Google’s (NASDAQ:GOOGL) Project Glass, which was the subject of videos and news reports for a weak public welcome as many not wearing the pricey computer eyewear felt their privacy was being invaded, giving wearable tech a bit of a bad reputation. A few months later and wearable tech is growing in popularity, aided by the launch of Ralph Lauren’s (NYSE:RL) tech-embedded sports shirt and the anticipated unveiling of an Apple (NASDAQ:AAPL) wearable tech device at a conference next week. Companies of all sizes are trying to establish a presence in the business, including upstart GTX Corp. (OTCQB:GTXO). The Los Angeles-based company manufacturers and sells personal location wearable technologies. GTX products aren’t the typical watches that probably spring to mind; they’re enterprise 2-way GPS real-time tools with an emphasis on safety.

The company first made a name for itself with its award-winning patented GPS Smart Shoe and GPS SmartSole that were designed with Alzheimer’s and dementia patients in mind to keep caregivers alert to the whereabouts of sufferers of these dreaded diseases that are prone to wondering. The in-shoe products feature tiny GPS/cellular chipset and SIM card that is unique to each user. The technology works by sending a SMS message to a cell phone or an email message if the wearer wanders outside preset parameters.

Further, the company owns and operates app developer LOCiMOBILE, Inc. and Code Amber Alertag, a small ID tag that provides access to medical and other pertinent information in case of an emergency. GTX also offers a GPS tracking application for mobile devices under the mantra that GTXO products provide the answer to the “where is” question to locate loved ones and assets.

Wednesday morning GTX Corp. said that its SmartSoles are walking their way up into the Canadian market. The company reported the receipt of a volume purchase order for its GPS and BLE SmartSole line of products from Canadian distributor Safe Tracks GPS Canada, a GPS electronic monitoring and safety solution provider across the country. The products have completed four months of testing by Safe Tracks and are ready to hit the markets via Safe Tracks e-commerce website in October.

Currently, there are an estimated half a million people in Canada with Alzheimer’s disease or dementia, with that number forecast to more than double to between 1 and 1.3 million in the next ten years.

Safe Tracks President Bob Aloisio noted in a statement that his company has received many inquiries about the GPS products during the testing phase and that they participated in a series of television interviews highlighting the products. Those interviews started airing last week, along with other marketing media in the Greater Toronto region.

The feedback so far indicates the GPS SmartSoles will be the monitoring wearable technology to make a difference for many caregivers. Current pilot projects of the GPS SmartSoles have yielded spectacular results and we are looking forward to the official launch in October," said Aloisio in a statement today.

Rogers Communications (NYSE:RCI), Canada’s largest GSM cell phone provider with more than 9.2 million customers, will be the wireless data provider, keeping the SmartSoles connected with caregivers.

No details on the size of the order were disclosed. If it is of any size, it will provide a boost to third quarter sales for GTX Corp., who only reported $34,091 in revenue during the three months ended June 30 and $54,905 in sales for the first six months of the year. Shares closed Tuesday trading at $0.009, equating to a market capitalization of $1.45 million for GTXO.

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