Mr. Tim Harvie reports
TRACKX WINS CUSTOMER IN NEW END MARKET
TrackX Holdings Inc. has installed its GAME (Global Asset Management for Enterprises) solution for a leading provider of portable toilet-rental services with over 100 depot locations across the United States. TrackX has expanded its GAME platform by incorporating its many years of experience in managing returnable transport items and rental equipment throughout the supply chain. The deployment of this solution, called GAME for RTI (Returnable Transport Items), will help manage the customer's high-value rental assets at one of its many locations.
"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 chief executive officer. "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-as-a-service) 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 (radio-frequency identification) tags, fixed RFID readers and TrackX Mobile on smart phones to collect pertinent data on each asset. These 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 (global positioning system) 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 12 months and includes a $7,000 monthly retainer and an option to purchase 200,000 shares at 32 cents, which vests in equal tranches over 12 months.
About TrackX Holdings Inc.
TrackX, based in Denver, Colo., 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. This platform creates unprecedented visibility and business intelligence of man-to-machine and machine-to-machine interaction. TrackX delivers significant value to a growing list of Fortune 500 companies and for customers in industries such as transportation, beverage, brewery, health care, high technology, hospitality, mining, agriculture, horticulture, manufacturing and government.
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