“TrackX has further demonstrated GAME’s value by adding a new enterprise customer with returnable assets in a new market vertical,” said Tim Harvie, President and CEO. “We are currently working on a number of additional returnable asset opportunities and have enhanced our RTI workflows in GAME’s product suite. We also continue to expand our GAME platform to accommodate additional asset classes and business workflows. GAME for RTI has the ability to quickly uncover inefficiencies for customers with large fleets of returnable, reusable and rental assets and will further extend Track’s competitive advantage in addressing the needs of enterprise accounts.”
The deployment consists of hardware, services, and recurring SaaS software revenue. For the customer, TrackX will deliver visibility to the state, location, movement, maintenance, repair and history of each physical asset. The solution utilizes a combination of passive RFID tags, fixed RFID readers and TrackX Mobile on smartphones to collect pertinent data on each asset. This real-time data will deliver business intelligence, operational efficiencies and increased asset utilization.
About GAME for RTI
TrackX’s GAME for RTI’s new features build upon the TrackX GAME Platform with enhanced workflows and analytics related to the real-time visibility and control of returnable and rental assets. It tracks shipping, receiving, inventory, maintenance, repair and other operational processes related to the utilization of assets. It also includes a new walk-by inventory module with GPS integration for improved location accuracy.
Sophic Capital Renewal
TrackX is also pleased to announce that it has renewed its contract with Sophic Capital for capital markets advisory services. The contract is for twelve months and includes a C$7,000 monthly retainer and 200,000 options priced at $0.32 that vest in equal tranches over 12 months.
TrackX, based in Denver, Colorado, is an enterprise Industrial Internet of Things (IIoT) software platform provider leveraging multiple auto-ID technologies for the comprehensive tracking and management of physical assets. TrackX’s Global Asset Management for Enterprises (GAME) platform enables the IIoT by providing unique item level tracking, workflow processing, event management, alerts and powerful analytics to deliver solutions across a growing number of industries. TrackX delivers significant value to a growing list of Fortune 500 companies and for customers in industries such as transportation, beverage, brewery, healthcare, hi-tech, hospitality, mining, agriculture, horticulture, manufacturing and government.
For more information, please contact:
Gene McConnell, TrackX Holdings Inc.
Sean Peasgood, Sophic Capital
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur including the Company’s anticipated pipeline and value of current and customer deployments and future opportunities are the managements best estimates and cannot be guaranteed or relied upon and is forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements in this news release, whether as a result of new information, future events or otherwise, except as required by law.