SPYR (OTCQB: SPYR), a technology company, today announced that its subsidiary, GeoTraq, has been granted a patent covering various aspects of operation of its mobile IoT wireless modules. “GeoTraq is a mobile internet of things (‘IoT’) technology company that designs innovative wireless modules that provide location based services (‘LBS’) and connect external sensors to the IoT,” said Chris Chammas, project engineer. “GeoTraq is planning to manufacture and sell wireless transceiver modules and subscription services that will allow connectivity using publicly available global mobile IoT networks. GeoTraq addresses the large LBS market segment that is currently underserved with existing solutions due to high deployment costs (hardware, service, logistics), limited battery life and large form factors. We believe there is a large, underserved portion of the LBS market that is not addressed by existing solutions. RFID and Wi-Fi require proximity for asset tracking, while GPS is too bulky and uses too much power for many needs. GeoTraq addresses the white space in-between by designing wireless transceiver modules with technology that provides LBS directly from global mobile IoT networks. GeoTraq’s technology allows for a substantially lower cost solution, extended service life, a small form factor, and even disposable devices, which we believe can significantly reduce return logistics costs.”
To view the full press release, visit https://ibn.fm/jxK4g
About SPYR Technologies
SPYR is a technology company which, through its subsidiary Applied Magix Inc., develops and resells Apple(R) ecosystem compatible products with an emphasis on the growing multibillion-dollar IoT smart home and connected car markets. Also, through its subsidiary GeoTraq, SPYR develops and manufactures entirely self-contained, ultra-small mobile IoT (“internet of things”) modules: Tracker-M modules for asset tracking and location-based services, as well as Sensor-M modules used for remote monitoring. SPYR continues to identify and target acquisitions that will grow its footprint in the industry and expand the products it offers consumers, including companies developing artificial intelligence (“AI”) and smart technology products. For more information about SPYR, visit https://ir.SPYR.com.
NOTE TO INVESTORS: The latest news and updates relating to SPYR are available in the company’s newsroom at https://ibn.fm/SPYR
About InvestorWire
InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.
As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.
For more information, please visit https://www.InvestorWire.com
Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer
InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.InvestorWire.com
Editor@InvestorWire.com
InvestorWire is part of the InvestorBrandNetwork.
