LOS ANGELES, June 8, 2010 (GLOBE NEWSWIRE) -- GTX Corp (OTCBB:GTXO), a leader in embedded GPS tracking location based services and MNX (Midnite Express), a worldwide specialty courier headquartered in Los Angeles with twenty-seven offices in eight countries, have entered into an exclusive three-year contract for GTX to deliver thousands of highly customized, industry-first GPS tracking devices along with the GTX Corp tracking platform to the shipping company.
As outlined in GTX's Form 8K filing, MNX has committed to buying and activating a minimum of 15,000 devices over the next three years and anticipates beginning deployment of 2,000 to 3,000 units sometime in the 3rd and 4th quarter of 2010. MNX will initially use them to track medical and bio-pharmaceutical shipments and eventually roll them out for all their high-value, sensitive shipments.
The critical and security-sensitive global transportation and logistics business is burgeoning and MNX is making the investment to become a leader by providing a fast, accurate and trackable "chain-of-custody" solution to this sector by integrating real time GPS tracking empowered by GTX Corp. This market represents one of MNX's fastest growing channels, and with the implementation of this technology, they hope to significantly increase their market share of this multibillion dollar vertical market.
"Real-time GPS tracking technology is game-changing for us and now we will be able to address any inquiry about the location and path of the thousands of critical shipments we manage for our customers," says Scott Cannon, CEO of MNX. "By enabling both our clients and airline partners to have full transparency regarding their shipments, MNX will offer a unique layer of service, security, temperature integrity and reliability. GTX is at the forefront of this technology and it offers a significant improvement over anything else available in the industry, and we are excited about the opportunity to work with them to pioneer its commercial use." In collaboration with prominent industry experts, this customized solution will greatly enhance the value proposition MNX already provides to the life sciences, medical and pharmaceutical transportation business.
"GTX Corp's two-way GPS Tracking technology as seen on the CBS News is already being used in shoes to monitor the elderly afflicted with dementia and in iPhone, iPad and Android apps enabling parents to keep track of their kids, so this was a natural progression for the Company to formulate a partnership with MNX for the monitoring of high valued assets such as medical and pharmaceutical shipments," states Patrick Bertagna CEO of GTX Corp. "Introducing our GPS tracking platform into this vertical market represents a major milestone for the Company. This partnership validates our imbedded licensing model while expanding global penetration of our products and brand."
About GTX Corp with you (R)
GTX Corp (OTCBB:GTXO) a leader in embedded real-time GPS Tracking personal location services (PLS) was founded in 2002 and is based in Los Angeles, California. Known for its game changing patented micro GPS device in a shoe -- the patented smart shoe and its block buster smartphone GPS Tracking App which hit number two on the iTunes top grossing chart, the Company continues to pave the way with innovative geo specific and proximity alerting applications that help you know where someone or something is at the touch of a button. Committed to being the "better people finder", GTX Corp owns and operates LOCiMOBILE, Inc. which develops location based social networks (LBSN) applications for smart phones, Code Amber News Service, and Code Amber Alertag. The Company has an aggressive intellectual property strategy and owns an extensive portfolio of patents, patents pending, registered trademarks, copyrights and website properties. GTX Corp is well positioned to capture the PLS Market through its diverse product platform, licensing model, brand recognition, traction in the market and strategic partners.
MNX provides critical and security sensitive global transportation and logistics services to diverse industries including entertainment and media, aviation, consumer products, financial & government, high tech, life sciences, medical devices, and 4 PL shipping. Formerly known as Midnite Express, MNX offers services in three key areas: express, supply chain and freight. www.mnx.com
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