AirGATE Prepares for Deployment of RFID Phone System.DALLAS -- AirGATE Technologies, Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of the X-Change Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :XCHC), has begun preparations for deployment of its RFID (Radio Frequency IDentification) A data collection technology that uses electronic tags for storing data. The tag, also known as an "electronic label," "transponder" or "code plate," is made up of an RFID chip attached to an antenna. enabled inmate phone system. AirGATE has signed an agreement with SECURUS Technologies, Inc. to provide its RFID technology for use in the law enforcement industry and Homeland Security Noun 1. Homeland Security - the federal department that administers all matters relating to homeland security Department of Homeland Security executive department - a federal department in the executive branch of the government of the United States Marketplace. AirGATE has completed a working prototype that it demonstrated at the recent RFID World conference in Dallas, Texas “Dallas” redirects here. For other uses, see Dallas (disambiguation). The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl. . In a recent radio interview, Mike Sheriff, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AirGATE, stated that AirGATE is excited about the revenue potential. SECURUS serves over 3,100 correctional facilities, managing in excess of 120,000 phones. Inmates make over 1,000,000 phone calls per day in correctional institutions throughout the U.S. AirGATE will provide radio frequency identification See RFID. (RFID) enabled wristbands and will integrate its RFID scanner within the SECURUS telephone systems. The scanner reads the inmate identification from the inmate wristband wristband An identifying bracelet attached to a Pt's wrist at the time of admission to a health care facility, which may be the only identifier used during a person's stay in a hospital when a phone call is made. "We are pleased to be working with a fine organization such as SECURUS and their sales force," Mike Sheriff said. "Our agreement with SECURUS follows our plan of generating recurring revenue. There is demand for our technology because we solve a problem regarding verification of inmate collect calls. Working with SECURUS, whether we convert as little as 10% or as great as 80% of the inmate phones, AirGATE receives a fee for each call made. This represents a recurring revenue base that can grow each month. Commercialization of the prototype will occur rapidly, and we anticipate field ready units next quarter," continued Sheriff. AirGATE has filed a patent on the technology implementation. AirGATE has granted SECURUS an exclusive, worldwide license on the technology. In addition, AirGATE will participate in the revenue generated from other RFID applications within the correctional institution. Please visit www.AirGATEtech.com for more information. About SECURUS Technologies, Inc. SECURUS Technologies is the country's largest independent supplier of detainee de·tain·ee n. A person held in custody or confinement: a political detainee. Noun 1. detainee - some held in custody political detainee telecommunications and information management solutions, serving over 3,100 correctional facilities nationwide. A recognized leader in providing comprehensive, innovative technical solutions and responsive customer service, SECURUS' sole focus is the specialized needs of the corrections and law enforcement communities. SECURUS is headquartered in Dallas, Texas, with offices in Selma, Alabama; Raleigh, North Carolina For other uses of this name, see Raleigh. Raleigh (IPA: /ˈrɑli/, ral-ee) is the capital of the State of North Carolina and the county seat of Wake County. ; Brantford, Ontario; Belleville, Ontario, and has application redundancy backup systems in Allen, Texas and Irving Texas. 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 opportunities 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 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 Investor relations The process by which the corporation communicates with its investors. web page at http://www.x-changecorp.com/index.html, and specifically the most recent reports on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 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. |
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