GTX Global Initiates Action Against Stocklemon.com
LAS VEGAS, Nov. 15 /PRNewswire/ -- GTX Global Corporation
(Pink Sheets: GTXC), a leading provider of innovative IP multimedia
technologies that enable profitable IP communications, announced that GTX
Global has retained Barry Rothman, legal counsel based in Los Angeles,
California, to represent GTX Global in a legal action against Stocklemon.com.
Mr. Rothman is currently involved in a similar lawsuit against Stocklemon.com,
and is familiar with Stocklemon.com's short selling tactics.
Within a disclaimer on Stocklemon.com, Stocklemon.com states, "Stocklemon
might hold a position in any of the securities mentioned." This statement
omits that Stocklemon may have sold a position they never owned.
GTX Global has further interviewed a prospective new Chief Financial
Officer (ex. Price Waterhouse) to audit the company's financials with the
objective of making GTX Global a full reporting company, and thus enabling the
company to meet one of the qualifications to make application for an AMEX
listing.
GTX Global owns technology that is covered by eight U.S. and E.U. patent
pending applications, and has twelve new patent applications being prepared
for filing. This Intellectual Property has been developed over the past five
years at the cost of approximately $16 million.
Earlier in 2005, Mr. Hagen, the former founder and CEO, resigned as an
Officer and Director of Gatelinx Global after reports were circulated on
Google referring to a personal situation of Mr. Hagen's that occurred over 15
years ago. Mr. Hagen resigned for the good of the company and Gatelinx Global
changed its name to GTX Global.
"GTX Global has never been associated in any way with BHLL or AHFI, as
reported on Stocklemon.com, and I have never heard of either company," said
Curtis Garth, President and CEO, GTX Global Corporation.
GTX Global cannot control what third parties publish on their websites to
promote a new stock. GTX Global has been made aware of two websites that have
been established to promote GTXC. GTX Global is not affiliated or associated
with these websites, and has not authorized the statements contained in
therein. GTX Global General Counsel has notified the websites that any
misleading statements must be pulled from the website or company will pursue
immediate legal action.
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. In
addition, with GTX Globals' recent acquisition of Vizual Corporation, GTX
Global aims to lead the broadband communications market through innovative,
useful products delivered at aggressive prices. Vizual business lines
include: VizTV(TM) and VTV(R), 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 (webinars, conferences, talk shows, town
meetings); 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. Please visit http://www.gtxglobal.net and
http://www.vizualcom.com for more information.
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.
