X-Change Receives Orders for SAW-Based Systems from Dept. of Defense Contractors; Company Expanding SAW Staff to Meet Increasing Demand from Defense Sector.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 received, from Department of Defense contractors, initial purchase orders for the company's surface acoustic wave A surface acoustic wave (SAW) is an acoustic wave traveling along the surface of a material having some elasticity, with an amplitude that typically decays exponentially with the depth of the substrate. (SAW) 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. systems. The SAW RFID systems are well-suited for use in the identification and tracking of battlefield munitions mu·ni·tion n. War materiel, especially weapons and ammunition. Often used in the plural. tr.v. mu·ni·tioned, mu·ni·tion·ing, mu·ni·tions To supply with munitions. . Such munitions, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a 2004 Dept. of Defense mandate, must be tagged only with RFID devices certified for meeting potential hazards posed by electromagnetic radiation electromagnetic radiation, energy radiated in the form of a wave as a result of the motion of electric charges. A moving charge gives rise to a magnetic field, and if the motion is changing (accelerated), then the magnetic field varies and in turn produces an . Electromagnetic radiation, typically present during the operation of standard RFID systems, could accidentally spark actuation of several existing types of electro-explosive devices or electro-activating ordnance. This unintended actuation could cause these munitions to either fire prematurely, or to lose the ability to fire at all. SAW RFID, however, due to its passive (no battery) nature and miniscule min·is·cule adj. Variant of minuscule. Adj. 1. miniscule - very small; "a minuscule kitchen"; "a minuscule amount of rain fell" minuscule power operation, minimizes or eliminates the above risks. In response to the DOD (1) (Dial On Demand) A feature that allows a device to automatically dial a telephone number. For example, an ISDN router with dial on demand will automatically dial up the ISP when it senses IP traffic destined for the Internet. mandate, and to increased interest in SAW expressed by the defense sector; AirGATE has recently hired additional engineers dedicated to SAW production. "We are extremely pleased by this expanding interest in our SAW systems," stated Mike Sheriff, president and chief executive of X-Change Corporation. "AirGATE stands ready to assist our military with this unique type of RFID technology." Currently, added Mr. Sheriff, X-Change is positioned to ship SAW RFID tags and reader systems in volume. This, he said, is the result of an exclusive national agreement for sale and support of SAW RFID systems signed in January with Carinthian Tech Research, a leading Austria-based developer of SAW RFID devices and technology. Today's announcement follows one made on May 11, in which X-Change disclosed AirGATE's initial sale of SAW RFID systems to Fortune 500 companies. X-Change Corporation, through its wholly owned subsidiary, AirGATE Technologies, Inc., is a leader in unique, vertical market applications utilizing RFID and wireless, intelligent, sensor technology. AirGATE Technologies, a full-solution company, handles business assessment, technology selection, including proprietary AirGATE technology, integration and support. The Company has, in an environment of technology cost compression, built a stable of technology partners that are best in class and span a wide range of solutions to support small, medium and large enterprises. Please visit www.AirGATEtech.com or 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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