Signal Tag by PetHub

Signal Tag pet finder device and system
Signal Tag is a pet finding system using a smartphone and a Bluetooth transmitter on a tag attached to the cat or dog’s collar.
This is a system for the digital age and a neat use of the ubiquitous smartphone. I recently reported on something similar. This is an American pet product and I expect it is currently available in the USA only but I might be incorrect.
Signal Tag has been introduced by PetHub Inc. If your pet is tagged, and you are signed up and linked into a network of like-minded people with the smartphone app downloaded, you are all able to help find each other’s lost pets using your smartphone and Bluetooth technology.
The tag is worn on a collar and is durable and waterproof. The battery life is 2 years.
When a pet goes missing anyone who has the software on their smartphone can pick up the signal emitted by the dog or cat’s tag. I believe the range of the Bluetooth signal is 500 feet. In other words, the signal from the tag can be picked up by a smartphone from 500 feet away.
The person picking up the signal is provided with the cat or dog’s details which helps them care for the companion animal while the owner organises a pick up after the finder has notified the pet owner. I believe that is the sequence of events.
With the premium Signal Tag service, shelters can be alerted too and the position of a pet is tracked using GPS so the owner knows where he/she is at any one time.
The subscription to the basic service is free (excluding tag purchase) while for the premium service, the charge, if paid annually, is $28 (USD). The tags cost between around $10 to $20 USD.
The Signal Tag creates a community of pet owners who are able to help each other. It must therefore rely on an extensive network of people. There is probably a threshold at which the system becomes viable.
My gut instinct is that there would have to be a sufficient number of people in one area to make it work well.
As this is a new product PetHub Inc is currently offering a $30 discount for the first 250 people to sign up.