X-Change Corporation's AirGATE Subsidiary Seeks Revenue in Niche Markets
DALLAS, Aug. 12 /PRNewswire-FirstCall/ -- The X-Change Corporation (OTC Bulletin Board: XCHC) today announced that AirGATE Technologies, Inc., its wholly owned subsidiary, has successfully completed an initial test of its child safety seat utilizing RFID (Radio Frequency Identification) technology. "The development of our 'Smart Buckle' for automotive child safety seats has generated broad national interest, and we are working to complete the development of our prototype," stated Michael Sheriff, CEO of AirGATE Technologies. "Based upon the enthusiastic response we have received for this RFID-enabled consumer product as well as interest for applications in the oil and gas industry and the manufacturing sector, we are concentrating our development activities on specific niche markets for consumer products and business users. RFID can be employed to solve many problems that are not related to the global supply chain. Our interest in supply chain applications, primarily driven by Wal-Mart and Department of Defense mandates, remains high. However, we are concerned with the ability to create sustainable revenue and profits in the near term in the supply chain RFID application because of the lack of standards, reader/antenna/tag issues, and the underlying physics of 915 MHz. We will continue to develop our Matrix Analytic Engine, which addresses many of these issues, for deployment next year. We will also work closely with our agents, and it is our intent to sub-contract our port opportunities as they occur. "We feel that we are more likely to generate revenue in the near term by utilizing our gained experience to provide unique RFID solutions to consumers and selected business opportunities. In these cases, we are not subject to external forces; we control the environment -- we determine the readers/tags/antenna, etc. -- and we can provide our customer a 'best of breed' solution using technologies that meet the specific need." 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 and the child is not removed from the seat after the car is parked and the ignition is turned off, indicating that the child may have been unintentionally left in the car. 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. 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. AirGATE Technologies is a wholly owned subsidiary of the X-Change Corporation. 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 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 of CTA Public Relations, +1-303-665-4200, email@example.com, for X-Change Corporation.
SOURCE X-Change Corporation
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