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.
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
SOURCE X-Change Corporation