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Posted On: 06/17/2021 7:27:49 AM
Post# of 7620
$GTCH June 15, 2021 (GLOBE NEWSWIRE) -- GBT Technologies Inc. (OTC: GTCH) (the “Company”), a technology company focused on developing a portfolio of Intellectual Property targeted on the IoT (Internet of Things), mesh technology and integrated Artificial Intelligence (AI), today announced that on June 10, 2021, the Company and GTX Corp (OTC: GTXO) (“GTX”), a pioneer in the fields of health & safety wearable GPS human and asset tracking systems and personal protective medical equipment and supplies, entered into a Letter of Intent (“LOI”) to develop a framework of cooperation between the companies to evaluate the viability and market size of the Company’s Intellectual Property and product line for worldwide exclusive licensing rights to manufacture, sell and distribute their products.
“We believe this proposed relationship with GTX can improve our go to market efforts for our IP and products. GTX’s proven extensive Global reach, experience in getting innovative products to market and understanding of our technology were critical factors in our decision to enter into this agreement,” stated the Company’s Chief Technology Officer, Danny Rittman.
GBT has previously announced products including:
Guardian Sphere – Multi Purpose Tracking Device
Guardian MESH – Private Data Network
qTerm – Medical Device for vitals
Avant! – Artificial Intelligence Platform
Patrick Bertagna, GTX Chief Executive Officer, stated “my team and I are excited to have the opportunity to expand our product line and capabilities with GBT’s existing portfolio of products. I believe their products have the ability to enhance our existing offerings to our worldwide customers and distribution partners.”
Any relationship between the parties as contemplated by the LOI is subject to the parties coming to an acceptable commercial agreement, finalizing due diligence, entering into a material definitive agreement and other items.
“We believe this proposed relationship with GTX can improve our go to market efforts for our IP and products. GTX’s proven extensive Global reach, experience in getting innovative products to market and understanding of our technology were critical factors in our decision to enter into this agreement,” stated the Company’s Chief Technology Officer, Danny Rittman.
GBT has previously announced products including:
Guardian Sphere – Multi Purpose Tracking Device
Guardian MESH – Private Data Network
qTerm – Medical Device for vitals
Avant! – Artificial Intelligence Platform
Patrick Bertagna, GTX Chief Executive Officer, stated “my team and I are excited to have the opportunity to expand our product line and capabilities with GBT’s existing portfolio of products. I believe their products have the ability to enhance our existing offerings to our worldwide customers and distribution partners.”
Any relationship between the parties as contemplated by the LOI is subject to the parties coming to an acceptable commercial agreement, finalizing due diligence, entering into a material definitive agreement and other items.
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