X-Change Corporation Signs Agreement with Ubisense.DALLAS -- X-Change Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : XCHC) today announced that its 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. , AirGATE Technologies, Inc., has signed a VAR (value added reseller See VAR. (company) value added reseller - (VAR, or "value added retailer") A company which sells something (e.g. computers) made by another company (an OEM) with extra components added (e.g. specialist software). ) Agreement with Ubisense. Ubisense technology gives senses to computers - the sense of who, what and where people and objects are. Ubisense combines an ultrawideband technology platform with a real-time software solution to provide an intuitive and automatic location aware computing platform See platform. . UWB (Ultra-WideBand) A wireless technology that uses less power and provides higher speed than 802.11 Wi-Fi networks or first-generation Bluetooth products. UWB is expected to provide wireless video transmission for home theater systems, cable TV, auto safety and (ultrawideband) technology is used because it combines a high level of accuracy with low infrastructure investment. Once installed, Ubisense typically can deliver up to 30cm 3D accuracy in real-time with the ability to monitor thousands of people and assets. "We have been working with ultrawideband for some time, stated Ivan Chow, AirGATE's Chief Technology Officer. "We are impressed with Ubisense's platform. With their support and our application expertise, especially in the oil industry, it will allow us to quickly move our applications to market, continued Chow. About Ubisense Ubisense delivers a precise, real-time location system (RTLS RTLS Real-Time Location System RTLS Return To Launch Site RTLS Run Time Library Services ) utilizing ultra-wideband (UWB) technology that locates people and assets within 12 in. in 3D. Customers spanning logistics and manufacturing, workplace, military, healthcare and hazardous environments rely on the innovative Ubisense system to analyze and dramatically improve complex processes resulting in significant operational savings. The company is headquartered in Cambridge, England with offices in Denver, Colorado; Dortmund, Germany; and Singapore. For more information, visit http://www.ubisense.net. About X-Change Corporation X-Change Corporation, through its wholly-owned subsidiary, AirGATE Technologies, Inc. is a leader in unique, vertical market applications utilizing 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. and wireless, intelligent sensor An intelligent sensor takes some predefined action when it senses the appropriate input (light, heat, sound, motion, touch, etc.). Description The sensor has to do the following tasks:
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 United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. 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, including our need to raise capital, our dependence on strategic relationships with key suppliers and customers, our business model's dependence on widespread acceptance of RFID technology, our ability to develop recurring revenue streams and the competitiveness of the market in which we compete. These forward looking statements include statements regarding the intent, belief or current expectations of the X-Change Corporation, AirGATE Technologies and their respective managements regarding strategic directions, prospects, future events and future results such as our ability to raise the full $6 million dollars to complete the private placement in one or more additional closings. 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. The X-Change Corporation disclaims any obligation to update or correct any forward-looking statements made herein. |
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