GTX Global Response to Dow Jones Newswire and Stocklemon1 January 2006
GTX Global Corporation (Pink Sheets: GTXC), a leading provider of innovative IP multimedia technologies that enable profitable IP communications responded today to recent activities and allegations regarding the company and its publicly traded shares.
GTX Global is a non-reporting pink sheet company, as are many other start up public companies that trade on the unregulated pink sheets. GTX Global has posted a revised 15c2-11 dated December 27, 2005 at http://www.pinksheets.com, symbol GTXC, under Financial Reports (as required) and also posted its last financial report at that location (although it is not required for pink sheets).
Recently, pinksheets.com removed the company's stock quote from their pages stating they believed the company was directly or indirectly engaged in promotional activity. The company was not engaged, either directly or indirectly in promotional activity. In fact, the company notifies any entity that may be promoting the company's stock to cease and desist or face legal repercussions. The company's counsel has contacted pinksheets.com and has furnished the material asked by pinksheets.com and has requested reinstatement of its stock quote on the site.
The Dow Jones Newswire Column of December 20, 2005 was old, old news and unassociated news reporting, and has been used by short sellers to try to generate selling and drive stock price down. The information contained in this report was misleading, redundant, and outdated. Shannon Payne was the Secretary and director of ALCC in 2000, but resigned long before the Gatelinx asset purchase and neither has now nor had any association with GTX Global.
The company questions why the DJNewswire report did not include information on the GTX Global technology, or the Yadio technology, or the new marketing direction the company is focused on. The company also is intrigued by the timing of the DJNewswire article just prior to the stocklemon report fax blasted to brokers. The company questions "why so much attention to a little pink sheet, non-reporting, unregulated company with 32 market makers trading the stock"? The answer is simple; a real technology is emerging with large companies showing serious interest and intent, placing the holders of large naked short positions in jeopardy.
The Don Oehmke matter related in the DJNewswire article took place in 2004 prior to the December 2004 asset purchase and sale agreement between ALCC and Gatelinx Corporation. As already stated in previous company news releases, there is no association between the company and Brian Koss, Don Oehmke, Concord America, and Absolute Health. To the company's knowledge, Shannon Payne is not named in the SEC allegations. Mr. David Levenson is only one of GTX Global's outside counsels, handling very minor matters for the company, and the company has no say in what other clients Mr. Levenson may represent. Mr. Alex Bourelly, Washington DC, and Mr. Barry Rothman, Los Angeles, California provide legal advice to the company on SEC matters and litigation. The David Hagen story reiterated by DJNewswire is getting old and redundant. Say no more. As for Concord and Absolute Health being located in the state of North Carolina so are the Smokey Mountains, the Vanderbilt mansion in Asheville, and the Outer Banks.
The company believes that stocklemon continues to try to coordinate old news and totally unrelated news on GTX Global to suit its position on the company stock, despite the company's efforts to advance the technology and provide positive shareholder awareness by updating news releases as necessary. The company, under the direction of its interim President and CFO, has undertaken a full review of its financial records for 2005 in preparation for its plans to become fully reporting on the Amex or NASDAQ exchanges.
About GTX Global
GTX Global partners with providers and integrators of IP communications services and equipment to deliver branded IP multimedia solutions that retain customers and create new revenue opportunities. GTX Global's technology advances have resolved existing bandwidth, connectivity, and security issues businesses face when attempting to deliver multimedia services over IP by efficiently minimizing bandwidth requirements and intelligently controlling packet loss and jitter. Unlike Voice over IP (VoIP) providers, video/web conferencing companies, or voice/video/data over IP platforms that can't offer the full range of multimedia capabilities without additional hardware or an expensive Quality of Service (QoS) Infrastructure, GTX Global has developed the industry's first solution to support delivery of high-quality multimedia with QoS-like performance and control over standard broadband lines. GTX Global's business lines including: VizTV(TM), Television over IP (TVoIP) products delivering stunning television quality over existing broadband infrastructure; VizCom(TM), Enterprise-grade videoconferencing, collaboration and productivity tools to drive greater performance from dispersed teams; VizMeet(TM), supporting large-scale video meetings with full access control, advance presentation capabilities and attendee interactivity serving users with a need to reach vast numbers of participants; VizLearn(TM), distance learning and educational tools to expand the classroom for creation and diffusion of knowledge (education, corporate training, continuing education); and VizTalk(TM), consumer videocalling over personal computers in unsurpassed quality. On December 16, 2005, GTX Global agreed to merge with Yadio Inc. Under this merger, GTX Global will assume the Yadio brand name and effectuate a corporate name change to Yadio Inc. The management of Yadio will select a new Board of Directors, elect new Officers and assume autonomous control of the public company. Yadio provides its member and subscribers with an entertainment and communications platform in the distribution of online TV, radio, video and audio. Yadio simplifies awareness and selection of programming in the extensive multi-channel universe. The Yadio player provides great programming with online TV, radio, Podcasts, games, community, and it allows each subscriber to personalize their online newspaper. The Yadio community is the Media Guide of the future. Programming takes on a life of its own through the Yadio community where people meet, share interests, talk, network and date. Media trends are the core of what people share in the Yadio Community. Our users identify with media and express their cultural values on the site exposing constantly shifting trends. Here, people discuss media using Yadio as a social tool and platform for their likes and dislikes. Yadio licenses its technology providing companies a direct connection to their customer through the Yadio player. Corporations, for the first time, have an entertainment premium, which builds brand awareness, customer retention, and sales and maintains an ongoing communication link between buyer and seller. For more information, please visit http://www.gtxglobal.net, http://www.vizco.com, and http://www.yadio.com.
This press release includes "safe harbor" language pursuant to the Private Securities Litigation Reform Act of 1995, as amended, indicating that certain statements about the Company's business contained in the press releases are "forward-looking" rather than "historic." The press releases contain forward- looking statements that involve risks and uncertainties concerning GTX Global's expected financial performance (as described without limitation in quotations from management in the press release), as well as GTX Global's strategic and operational plans. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance.
Source: prnewswire
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