Vista Partners, one of the fastest growing independent equity research firms in the U.S., has been following GTX Corp (GTXO.OB) since mid-2008. Vista’s analysis team consists of seasoned professionals with backgrounds in corporate communications, investment banking, and finance. Vista published a thorough analysis of GTX in November 2008 and has recently published its latest findings in its April newsletter.

Amazingly at this time the company has zero debt on its books, which is generally unheard of in a developing company. The company’s management team continues to look at ways to streamline costs and is now focused on significantly reducing its recurring operating expenses. According to the Vista analysts, there are a myriad of companies that “would love to have no debt and enough cash on hand to support one year’s worth of operating expenses.”

GTX stock is currently being traded around cash value, which does not reflect any of the company’s other assets like inventory, accounts receivable, or its growing intellectual property and patents. The gap between where the GTX stock is being traded versus the company’s actual assets reflects a tremendous opportunity for investors. A brief look at the company’s two wholly-owned subsidiaries supports this conclusion, since LOCi Mobile and CANS continue to develop and provide GTX with solid value.

LOCiMobile has plans to release its latest tracking application to Apple App Stores in the near future. This newest application release version 1.3 has the ability to turn the latest iPhones into tracking devices that can provide real-time location information on the company’s PLS portal. The previous application release, LOCiMe version 1.2, was distributed internally by the company. This latest release will be the company’s first direct-to-consumer offering. The LOCiMobile development team plans to develop up to 4 additional applications this year with tentative releases scheduled every eight to twelve weeks.

The Code Amber News Service (CANS) has made tremendous strides over the last four months. CANS is designed to support law enforcement in the recovery of missing persons throughout Canada and the United States. During its first one hundred days working with GTX, the CANS metrics results increased significantly. The company reported that website and desktop tickets hit 64,272,726 in the first quarter 2009. The site’s daily page views went up by about 21% and its ticker and commercial news feed distribution numbers shot up by one million. With the additional traffic, the site’s Alexa ranking is now 48,539th, which is a 41% increase from its previous ranking of 81,049th. The Vista analysts believe “the value of CANS to be in the millions of dollars.”

With cash on hand, no debt, and two subsidiaries with aggressive plans for 2009, it looks like GTX will have a strong financial showing for the year.

Vista Partner’s initial research report on GTX Corporation can be viewed at http://vistap.com/pdf/GTXO%2011-11-2008.pdf.

Let us hear your thoughts: GTX Corp Message Board