GTX Corp (OTCBB: GTXO) $6.5M (MarketCap) Enters 3 year GPS Tracking Agreement with MNX

In October 2009, GTX Corp (OCTBB:GTXO), a leader in embedded GPS real-time personal location services, and MNX, a worldwide specialty courier headquartered in Los Angeles with 27 offices in 8 countries, entered into an exclusive product test agreement to develop an industry first, proprietary GPS enabled transport container. During this time, MNX realized that the business of Life Science, Medical and Pharmaceutical transportation is on the rise, increasing the need to connect globally outsourced service providers with medical and clinical research facilities. Therefore, MNX made this investment to become a leader in providing a fast, accurate and trackable chain of custody solution to the sector with a GPS solution empowered by GTX Corp. The GTX Corp 2-way GPS platform is already being used as a device to primarily track people, so this was a natural progression for the company. With the successful completion of testing, GTX Corp will formulate a partnership with MNX and enter into the monitoring of high valued assets such as medical and pharmaceutical shipments.

MNX has successfully concluded the product tests and, consequently, on May 28th, MNX agreed to pay the licensing fee and entered into a 3-year exclusive world-wide license agreement with GTX Corp. "Introducing our PLS platform into a 4th vertical market represents a major milestone for the Company. This partnership leads to the continuing global deployment of our products, IP and platform licensing," states Patrick Bertagna CEO of GTX Corp.

Under this new agreement, GTX granted MNX a license to use the company's viewing portals, connectivity gateway, SMS gateway, and other related platform tracking technology in the category defined as "all freight/cargo, including during the course of the transportation thereof through the territory." To maintain the exclusivity of the license, MNX must purchase and activate 15,000 GPS tracking devices from GTX Corp at a projected rate of 5,000 during each of the three years of the agreement. The 1st shipment of the GPS tracking devices will occur in August 2010. Within 90 days of receipt of each shipment, MNX is required to activate and subscribe to one of the company's monthly subscription packages. This will allow for access to the necessary related platform tracking technology, such as the cellular network, data storage, viewing portal, connectivity gateway, and SMS gateway. After the three year term, MNX has the option to extend their exclusive license for as long as MNX maintains continual monthly service on at least 15,000 GPS devices.

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