2013 Form 10-K Financial Statement

#000156066414000023 Filed on April 10, 2014

View on sec.gov

Income Statement

Concept 2013 2012 Q4 2012
Revenue $150.0K $60.00K $367.1K
YoY Change -59.14% 50.0% -44.7%
Cost Of Revenue $86.73K $30.00K $291.4K
YoY Change -70.24% 0.0% -48.2%
Gross Profit $63.27K $20.00K $75.73K
YoY Change -16.46% 100.0% -25.29%
Gross Profit Margin 42.18% 33.33% 20.63%
Selling, General & Admin $980.0K $130.0K $1.190M
YoY Change -17.65% -58.06% -23.23%
% of Gross Profit 1549.04% 650.0% 1571.45%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $65.37K $20.00K $102.1K
YoY Change -36.0% -60.0% -48.0%
% of Gross Profit 103.32% 100.0% 134.88%
Operating Expenses $1.015M $140.0K $1.294M
YoY Change -21.54% -54.84% -17.11%
Operating Profit -$952.0K -$120.0K -$1.218M
YoY Change -21.86% -60.0% -16.54%
Interest Expense -$27.61K -$10.00K $0.00
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net -$552.9K $829.00
YoY Change -66794.93% -112.07%
Pretax Income -$1.500M -$220.0K -$1.220M
YoY Change 22.95% -26.67% -17.01%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$1.505M -$220.0K -$1.218M
YoY Change 23.61% -26.67% -16.99%
Net Earnings / Revenue -1003.31% -366.67% -331.64%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.071M -$193.0K -$1.162M
COMMON SHARES
Basic Shares Outstanding 105.4M shares 85.40M shares 78.99M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 2012 Q4 2012
SHORT-TERM ASSETS
Cash & Short-Term Investments $60.00K $30.00K $30.00K
YoY Change 100.0% -66.67% -66.67%
Cash & Equivalents $60.00K $30.65K $30.00K
Short-Term Investments
Other Short-Term Assets $30.00K $8.113K $10.00K
YoY Change 200.0% 21.94% 0.0%
Inventory $0.00 $1.557K $0.00
Prepaid Expenses
Receivables $0.00 $10.00K $10.00K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $100.0K $46.39K $50.00K
YoY Change 100.0% -87.57% -86.49%
LONG-TERM ASSETS
Property, Plant & Equipment $10.00K $108.6K $110.0K
YoY Change -90.91% -63.69% -63.33%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $90.00K $134.6K $130.0K
YoY Change -30.77% -58.61% -60.61%
TOTAL ASSETS
Total Short-Term Assets $100.0K $46.39K $50.00K
Total Long-Term Assets $90.00K $134.6K $130.0K
Total Assets $190.0K $181.0K $180.0K
YoY Change 5.56% -74.08% -74.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $310.0K $390.0K $390.0K
YoY Change -20.51% 225.0% 290.0%
Deferred Revenue
YoY Change
Short-Term Debt $90.00K $30.00K $30.00K
YoY Change 200.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $830.0K $710.1K $710.0K
YoY Change 16.9% 26.07% 26.79%
LONG-TERM LIABILITIES
Long-Term Debt $240.0K $0.00 $0.00
YoY Change
Other Long-Term Liabilities $410.0K
YoY Change
Total Long-Term Liabilities $650.0K $0.00 $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $830.0K $710.1K $710.0K
Total Long-Term Liabilities $650.0K $0.00 $0.00
Total Liabilities $1.480M $710.1K $710.0K
YoY Change 108.45% 26.07% 26.79%
SHAREHOLDERS EQUITY
Retained Earnings -$13.93M
YoY Change 9.58%
Common Stock $85.40K
YoY Change -99.34%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.300M -$529.1K -$530.0K
YoY Change
Total Liabilities & Shareholders Equity $190.0K $181.0K $180.0K
YoY Change 5.56% -74.08% -74.29%

Cashflow Statement

Concept 2013 2012 Q4 2012
OPERATING ACTIVITIES
Net Income -$1.505M -$220.0K -$1.218M
YoY Change 23.61% -26.67% -16.99%
Depreciation, Depletion And Amortization $65.37K $20.00K $102.1K
YoY Change -36.0% -60.0% -48.0%
Cash From Operating Activities -$345.5K -$10.00K -$254.0K
YoY Change 36.03% -66.67% -61.88%
INVESTING ACTIVITIES
Capital Expenditures -$1.148K $0.00 $14.55K
YoY Change -107.89% -100.0% -78.56%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.148K $0.00 -$14.55K
YoY Change -92.11% -100.0% -78.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $164.1K
YoY Change -100.0% -78.68%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $380.8K 30.00K $207.6K
YoY Change 83.45% -75.0% -72.67%
NET CHANGE
Cash From Operating Activities -$345.5K -10.00K -$254.0K
Cash From Investing Activities -$1.148K 0.000 -$14.55K
Cash From Financing Activities $380.8K 30.00K $207.6K
Net Change In Cash $34.11K 20.00K -$60.99K
YoY Change -155.92% -66.67% -342.5%
FREE CASH FLOW
Cash From Operating Activities -$345.5K -$10.00K -$254.0K
Capital Expenditures -$1.148K $0.00 $14.55K
Free Cash Flow -$344.3K -$10.00K -$268.5K
YoY Change 28.23% 54975581388799960.0% -63.42%

Facts In Submission

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<p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Basis of Presentation</u></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States. The accompanying consolidated financial statements reflect the accounts of GTX Corp and its wholly owned subsidiaries. All significant inter-company balances and transactions have been eliminated.</p>
CY2013 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b><u>Use of Estimates</u></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.&#160;&#160;Actual results could differ from those estimates.</p>
CY2013 us-gaap Reclassifications
Reclassifications
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Reclassifications</u></b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For comparability, certain prior period amounts have been reclassified, where appropriate, to conform to the financial statement presentation used in 2013.</p>
CY2013Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
186482 usd
CY2013Q4 GTXO Working Capital
WorkingCapital
-735647 usd
CY2012Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
116180 usd
CY2013Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2000 usd
CY2013 us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P2Y
CY2012 us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P2Y
CY2013 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P2Y
CY2012 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P2Y
CY2012Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
0 usd
CY2013Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
0 usd
CY2013 us-gaap Inventory Write Down
InventoryWriteDown
0 usd
CY2012 us-gaap Inventory Write Down
InventoryWriteDown
0 usd
CY2012Q4 GTXO Common Stock Equivalents
CommonStockEquivalents
11319570 shares
CY2013Q4 GTXO Common Stock Equivalents
CommonStockEquivalents
8495133 shares
CY2012Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
85118 usd
CY2013Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
86265 usd
CY2012Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
90062 usd
CY2013Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
0 usd
CY2012Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
18744 usd
CY2012Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
74648 usd
CY2013Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
74648 usd
CY2012Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
-346419 usd
CY2013Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
-358417 usd
CY2012 GTXO Manuracturers Of Gps Tracking Devices
ManuracturersOfGPSTrackingDevices
1 pure
CY2012Q4 us-gaap Notes And Loans Payable Current
NotesAndLoansPayableCurrent
23000 usd
CY2012Q4 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
0 usd
CY2012Q4 us-gaap Debt Current
DebtCurrent
26541 usd
CY2013Q4 us-gaap Debt Current
DebtCurrent
94797 usd
CY2012 GTXO Shares Issued With Repurchase Rights Shares
SharesIssuedWithRepurchaseRightsShares
1500000 shares
CY2012Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
-23959 usd
CY2013Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
-51703 usd
CY2012Q4 GTXO Convertible Notes Payable Current Principal Balance
ConvertibleNotesPayableCurrentPrincipalBalance
27500 usd
CY2013Q4 GTXO Convertible Notes Payable Current Principal Balance
ConvertibleNotesPayableCurrentPrincipalBalance
142500 usd
CY2013Q4 GTXO Convertible Debt Noncurrent Principal Balance
ConvertibleDebtNoncurrentPrincipalBalance
730438 usd
CY2013Q4 GTXO Debt Instrument Unamortized Discount Non Current
DebtInstrumentUnamortizedDiscountNonCurrent
-492766 usd
CY2013Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour
200000 usd
CY2013Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0 usd
CY2013Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
0 usd
CY2013Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
530438 usd
CY2013Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
0 usd
CY2013Q4 GTXO Amount Of Tranche
AmountOfTranche
425000 usd
CY2013Q4 GTXO Tranche Obligation
TrancheObligation
901000 usd
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0 pure
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0050 pure
CY2013 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
497255 usd
CY2012 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
22594 usd
CY2013 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
290929 usd
CY2012 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
17214 usd
CY2013 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
527000 usd
CY2012 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
425000 usd
CY2013 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
-81000 usd
CY2012 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
-110000 usd
CY2013 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-446000 usd
CY2012 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-315000 usd
CY2013 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2012 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2012Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
2968000 usd
CY2013Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
3414000 usd
CY2012Q4 us-gaap Deferred Tax Assets Valuation Allowance Current
DeferredTaxAssetsValuationAllowanceCurrent
-2968000 usd
CY2013Q4 us-gaap Deferred Tax Assets Valuation Allowance Current
DeferredTaxAssetsValuationAllowanceCurrent
-3414000 usd
CY2012Q4 us-gaap Deferred Income Taxes And Other Assets Current
DeferredIncomeTaxesAndOtherAssetsCurrent
0 usd
CY2013Q4 us-gaap Deferred Income Taxes And Other Assets Current
DeferredIncomeTaxesAndOtherAssetsCurrent
0 usd
CY2013Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
9754000 usd
CY2013 GTXO Shares Issued For Services Rendered Value
SharesIssuedForServicesRenderedValue
68300 usd
CY2012 GTXO Shares Issued For Services Rendered Value
SharesIssuedForServicesRenderedValue
175500 usd
CY2013 GTXO Shares Issued For Services Rendered Shares
SharesIssuedForServicesRenderedShares
3800000 shares
CY2012 GTXO Shares Issued For Services Rendered Shares
SharesIssuedForServicesRenderedShares
4806250 shares
CY2013 GTXO Shares Issued For Accrued Expenses Value
SharesIssuedForAccruedExpensesValue
254783 usd
CY2012 GTXO Shares Issued For Accrued Expenses Value
SharesIssuedForAccruedExpensesValue
76000 usd
CY2013 GTXO Shares Issued For Accrued Expenses Shares
SharesIssuedForAccruedExpensesShares
18516667 shares
CY2012 GTXO Shares Issued For Accrued Expenses Shares
SharesIssuedForAccruedExpensesShares
3400000 shares
CY2013 GTXO Shares Issued With Repurchase Rights Value
SharesIssuedWithRepurchaseRightsValue
9315 usd
CY2012 GTXO Shares Issued With Repurchase Rights Value
SharesIssuedWithRepurchaseRightsValue
67867 usd
CY2013 GTXO Shares Issued With Repurchase Rights Shares
SharesIssuedWithRepurchaseRightsShares
1000000 shares
CY2013 GTXO Stock Issued During Period Value Conversion Of Convertible Debt
StockIssuedDuringPeriodValueConversionOfConvertibleDebt
166423 usd
CY2012 GTXO Stock Issued During Period Value Conversion Of Convertible Debt
StockIssuedDuringPeriodValueConversionOfConvertibleDebt
0 usd
CY2013 GTXO Shares Issued For Financing Value
SharesIssuedForFinancingValue
49187 usd
CY2012 GTXO Shares Issued For Financing Value
SharesIssuedForFinancingValue
10000 usd
CY2013 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
-1553437 shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
.22
CY2013 GTXO Shares Issued For Financing Shares
SharesIssuedForFinancingShares
2459355 shares
CY2012 GTXO Shares Issued For Financing Shares
SharesIssuedForFinancingShares
250000 shares
CY2013 GTXO Issuance Of Common Stock For Advisory Agreement
IssuanceOfCommonStockForAdvisoryAgreement
145000 usd
CY2012 GTXO Issuance Of Common Stock For Advisory Agreement
IssuanceOfCommonStockForAdvisoryAgreement
0 usd
CY2013 GTXO Issuance Of Common Stock For Advisory Agreement Shares
IssuanceOfCommonStockForAdvisoryAgreementShares
5500000 shares
CY2012 GTXO Issuance Of Common Stock For Advisory Agreement Shares
IssuanceOfCommonStockForAdvisoryAgreementShares
0 shares
CY2013 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
693008 usd
CY2012 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
329367 usd
CY2013 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
45951146 shares
CY2012 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
9956250 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
8991000 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
7720000 shares
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
6991000 shares
CY2012Q4 GTXO Warrants Maximum Exercise Price
WarrantsMaximumExercisePrice
0.40
CY2013Q4 GTXO Warrants Maximum Exercise Price
WarrantsMaximumExercisePrice
0.08
CY2011Q4 GTXO Warrants Maximum Exercise Price
WarrantsMaximumExercisePrice
1.40
CY2012Q4 GTXO Warrants Minimum Exercise Price
WarrantsMinimumExercisePrice
.08
CY2013Q4 GTXO Warrants Minimum Exercise Price
WarrantsMinimumExercisePrice
0.02
CY2011Q4 GTXO Warrants Minimum Exercise Price
WarrantsMinimumExercisePrice
0.08
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
2000000 shares
CY2012 GTXO Share Based Compensation Arrangement By Share Based Payment Award Warrants Granted Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantsGrantedExercisePrice
0.02
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures And Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations
-1271000 shares
CY2013 GTXO Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercise Price Forfeitures And Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisePriceForfeituresAndExpirations
.40
CY2013Q4 GTXO Warrants Outstanding At.08 Exercise Price
WarrantsOutstandingAt.08ExercisePrice
5720000 shares
CY2013Q4 GTXO Warrants Outstanding At.02 Exercise Price
WarrantsOutstandingAt.02ExercisePrice
2000000 shares
CY2013Q4 GTXO Total Warrants Outstanding
TotalWarrantsOutstanding
7720000 shares
CY2013Q4 GTXO Remaining Life Of Warrants At.08 Exercise Price
RemainingLifeOfWarrantsAt.08ExercisePrice
P0Y1M16D
CY2013Q4 GTXO Remaining Life Of Warrants.02 Exercise Price In Years
RemainingLifeOfWarrants.02ExercisePriceInYears
P1Y8M8D
CY2013Q4 GTXO Warrants Exercisable At.08 Exercise Price
WarrantsExercisableAt.08ExercisePrice
5720000 shares
CY2013Q4 GTXO Warrants Exerciseable02 Exercise Price
WarrantsExerciseable02ExercisePrice
2000000 shares
CY2013Q4 GTXO Warrants Exercisable Total
WarrantsExercisableTotal
7720000 shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00 pure
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0 pure
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.60 pure
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P0Y
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y0M
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2328570 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2328570 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
775133 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.20
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.20
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
.14
CY2012Q4 GTXO Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingGrantDateFairValue
205234 usd
CY2012Q4 GTXO Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageGrantDateFairValue
205234 usd
CY2013Q4 GTXO Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageGrantDateFairValue
46901 usd
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2012 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
P1Y0M10D
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P1Y0M15D
CY2013 GTXO Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageGrantDateFairValue
-158333 usd
CY2013Q2 GTXO Compensation Advisory Agreement Shares
CompensationAdvisoryAgreementShares
3000000 shares
CY2013Q2 GTXO Compensation Advisory Agreement Shares
CompensationAdvisoryAgreementShares
2500000 shares
CY2013Q2 GTXO Compensation Advisory Agreement Value
CompensationAdvisoryAgreementValue
120000 usd
CY2013Q2 GTXO Compensation Advisory Agreement Value
CompensationAdvisoryAgreementValue
25000 usd
CY2013Q1 GTXO Term Of Advisory Agreement
TermOfAdvisoryAgreement
P1Y
CY2013Q2 GTXO Term Of Advisory Agreement
TermOfAdvisoryAgreement
P1Y
CY2013 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0 usd
CY2012 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15974 usd
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
2182000 shares
us-gaap Temporary Equity Contract Terms
TemporaryEquityContractTerms
<p class="Block" style="margin-bottom: 0in; margin-bottom: 0pt; text-align: justify">In connection with the SPA entered into with Atlantic on July 12, 2013 (See Note 7), the Company issued a Warrant to Atlantic, whereby Atlantic is entitled to purchase from the Company a total number of shares of common stock, such that, when added to the total number of shares of common stock acquired by Atlantic upon conversion of the Atlantic Note, equals 12% of the common stock outstanding as of the date of such conversion, as such total outstanding amount may, be increased by issuances of common stock occurring on or prior to November 13, 2014 (or by issuances of common stock occurring after November 13, 2014 but pursuant to convertible instruments issued or commitments made by the Company prior to November 13, 2014), other than issuances of excluded securities as such term is defined in the Atlantic Note, at an exercise price per share equal to $0.001 per share, at any time and from time to time on or after the Closing Date and through and including November 13, 2020.&#194;&#160; As of the December 31, 2013, Atlantic has not converted any portion of the Atlantic Note.<p></p></p>
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
7000000 shares
CY2012Q3 GTXO Warrants Issued During Period Other
WarrantsIssuedDuringPeriodOther
2000000 shares
CY2012Q3 GTXO Terms Of Warrant Agreement
TermsOfWarrantAgreement
The warrant has a three-year term and may be exercised at an exercise price of $0.02 per share.
CY2012Q4 GTXO Fair Value Of Warrant
FairValueOfWarrant
29006 usd
CY2012Q3 us-gaap Fair Value Assumptions Expected Dividend Rate
FairValueAssumptionsExpectedDividendRate
0.00 pure
CY2012Q3 us-gaap Fair Value Assumptions Expected Volatility Rate
FairValueAssumptionsExpectedVolatilityRate
12.6 pure
CY2012Q3 us-gaap Fair Value Assumptions Risk Free Interest Rate
FairValueAssumptionsRiskFreeInterestRate
0.25 pure
CY2012Q3 us-gaap Fair Value Assumptions Expected Term
FairValueAssumptionsExpectedTerm
P3Y
CY2012 GTXO Value Of Common Stock And Warrants
ValueOfCommonStockAndWarrants
69000 usd
CY2014Q1 GTXO Shares Issued For Services January2014 Value
SharesIssuedForServicesJanuary2014Value
12825 usd
CY2014Q1 GTXO Shares Issued For Services January2014 Shares
SharesIssuedForServicesJanuary2014Shares
1350000 shares
CY2014Q1 GTXO March2014 Board Service Shares
March2014BoardServiceShares
750000 shares
CY2014Q1 GTXO March2014 Meeting Attendance Shares Value
March2014MeetingAttendanceSharesValue
12500 usd
CY2014Q1 GTXO March2014 Meeting Attendance Shares
March2014MeetingAttendanceShares
625000 shares
CY2014Q1 GTXO March2014 Consulting Shares Value
March2014ConsultingSharesValue
6000 usd
CY2014Q1 GTXO March2014 Consulting Shares
March2014ConsultingShares
300000 shares
CY2013 GTXO Schedule Of Warrant Activity
ScheduleOfWarrantActivity
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A summary of the Company&#146;s warrant activity and related information is provided below:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: top; padding-right: -6.95pt; padding-left: 5.4pt; text-align: justify">&#160;</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&#160;</td> <td colspan="3" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 11pt Times New Roman, Times, Serif"><b>Exercise Price $</b></font></td> <td colspan="2" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&#160;</td> <td colspan="2" style="vertical-align: bottom; border-bottom: black 1.5pt solid; 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text-align: justify; margin-right: 0; margin-left: 0">&#160;</p>
CY2013 us-gaap Operating Loss Carryforwards Expiration Date
OperatingLossCarryforwardsExpirationDate
2028-01-01

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