AirGATE Moves its RFID Child Safety Seat 'Smart Buckle' Into Fast Lane
RFID Developer Contracts Outside Engineering Firm to Speed Development of a
Working Prototype of its RFID-Enabled Seat Buckle for August Demo
DALLAS, July 29 /PRNewswire-FirstCall/ -- The AirGATE Technologies subsidiary of the X-Change Corporation (OTC Bulletin Board: XCHC) has accelerated the development of its 'Smart Buckle' child safety seat prototype as a result of broad national interest in products that enhance child safety in automobiles. AirGATE has contracted an outside engineering firm to speed the development process in order to meet its goal of demonstrating a working prototype in August. According to the American Academy of Pediatrics, more children are killed as passengers in car crashes than from any other type of injury. The National Highway Traffic Safety Administration reports that nearly 12% of children who weigh less than 60 pounds are riding completely unrestrained in their safety seats. Additionally, a growing number of infants are mistakenly left in parked cars every year, sometimes with devastating results. AirGATE's engineers hope that the RFID 'Smart Buckle' they are developing will help parents prevent both of these dangerous situations. The AirGATE child restraint buckle will be outfitted with a miniature RFID (Radio Frequency Identification) tag that will transmit a low-powered radio signal to a reader, triggering an audible warning to the driver of the car when it detects that a child is riding in a safety seat whose straps are not properly buckled, or if the safety seat buckle is not disengaged after the car is parked and the ignition is turned off, indicating that the child may have been left in the seat. AirGATE has applied for a patent for its 'Smart Buckle' product. It has engaged an outside engineering firm to accelerate its development schedule for the product, with the goal of having an early working prototype of its RFID-enabled 'Smart Buckle' system ready to demonstrate to consumers, media and child safety seat manufacturers in mid to late August. About AirGATE Technologies AirGATE Technologies is a development stage company specializing in wireless data management technologies. The company designs and develops applications utilized in RFID deployments. AirGATE will deliver RFID solutions in selected vertical markets built around a data management and integration strategy based on its Matrix Analytic Engine. This strategy is designed to ensure rapid market penetration and maximum return on investment. AirGATE Technologies is a wholly owned subsidiary of the X-Change Corporation. Please visit www.AirGATEtech.com for more information. About the X-Change Corporation The X-Change Corporation is a company that was organized to seek merger or acquisition candidates. The Company intends to acquire interests in emerging technology opportunities, such as RFID, that the Company believes will generate significant revenues and return a profit to shareholders. Please visit www.x-changecorp.com for further information. Forward-Looking Statements Except for historical information contained herein, the statements made in this release constitute forward-looking statements (including within the meaning of Section 27A of the United States Securities Act of 1933 and Section 21E of the United States Securities Exchange Act of 1934). Such forward-looking statements are based on current expectations that are subject to significant risks and uncertainties that are difficult to predict, including statements regarding the intent, belief or current expectations of the X-Change Corporation, AirGATE Technologies, OIL ID Systems and their respective managements regarding strategic directions, prospects and future results. These forward-looking statements include, among other things, statements regarding future events and the future financial performance of the X-Change Corporation that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. Readers are referred to the documents filed by the X-Change Corporation, which are on file with the U.S. Securities and Exchange Commission and may be accessed at http://www.sec.gov or the X-Change Corporation's investor relations web page at http://www.x-changecorp.com/index.html, and specifically the most recent reports on Form 10-K and 10-Q, each as it may be amended from time to time, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The X-Change Corporation disclaims any obligation to update or correct any forward-looking statements made herein due to the occurrence of events after the issuance of this press release. For further information, please contact: Bevo Beaven, Vice President, firstname.lastname@example.org, or Cheryl Swanson, Media Relations Representative, Cheryl@ctapr.com, both of CTA Public Relations, +1-303-665-4200, for X-Change Corporation.
SOURCE X-Change Corporation
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