|By PR Newswire||
|August 13, 2014 07:35 AM EDT||
SARASOTA, Fla., Aug. 13, 2014 /PRNewswire/ -- xG Technology, Inc. ("xG" or the "Company") (Nasdaq: XGTI, XGTIW), a developer of patented wireless communications and spectrum sharing technologies, will be providing a live demonstration of xMax, its innovative private mobile wireless broadband solution using cognitive networking and radio technology, to the City of Tega Cay, SC ("Tega Cay") on August 15, 2014. Almost two dozen public safety officials from organizations and municipalities in North and South Carolina have also confirmed their attendance at the event to date.
The demonstration will feature a complete rapid-deployment communications system in a customized Hummer H1, complete with integrated satellite backhaul and a fully-functional xMax communications network. Event attendees will have the opportunity to experience high-speed mobile communications supporting PTT, voice, video, web and data delivered to off-the-shelf smartphones, laptops and tablets.
The xMax system is a first-of-its-kind mobile wireless mobile broadband network solution that can be rapidly deployed in any environment to deliver voice, video, and data communications when traditional infrastructure is down due to natural disasters. Once xMax is deployed, any commercial device with WiFi connectivity, including smartphones, tablets, and laptops, can be connected to the xMax network to provide emergency management leaders with unmatched command and control capabilities to assist residents as quickly as possible. This makes xMax ideal for both wide-area and remote emergency response communications deployments.
Tega Cay City Manager Charlie Funderburk said, "The City of Tega Cay is proud to host this demonstration and event with xG Technology. Forms of communication and technology are an ever changing world and we try to stay on the forefront of new applications and processes." Mr. Funderburk added, "We, like most cities, take public safety very seriously, and a critical component of public safety is communication, both internal within a department and external with other departments. When 'mainstream' communication systems break down due to a severe weather event or a terrorist event like we saw in 2001, there has to be a way for public safety personnel to be able to communicate effectively with one another and have access to data." Mr. Funderburk also said that he is looking forward to seeing what xG Technology has to provide, and to see if there is a way for not only Tega Cay, but the surrounding agencies as well, to be able to work towards a solution with them.
"The challenges emergency response teams face after a disaster often put lives and property at risk," said Tim Moynihan, Vice President of Sales at xG Technology. "The xMax system is ideal for these kinds of situations," he added, "since it is mobile, portable, completely self-contained, and enables emergency response teams to quickly establish a private wireless network."
The demonstration will be held on Friday, August 15, 2014, from noon to 2 p.m. at Tega Cay Glennon Center, 15083 Molokai Drive, Tega Cay, SC 29708. To request an invitation to the event, please contact Corey Anderson at (803) 250-5478.
About xG Technology
xG Technology has created a broad portfolio of intellectual property that makes wireless networks more intelligent, accessible, affordable and reliable. The company has created xMax, a patented all-IP cognitive radio technology that enables robust mobile broadband communications for private, consumer and government networks. xMax can solve the crisis facing the wireless industry caused by data-hungry devices and applications that are straining network capacity. It eliminates the need to acquire scarce and expensive licensed spectrum, thus lowering the total cost of ownership for wireless broadband access. xG's goal is to help wireless broadband networks deliver voice, video and data services to fixed and mobile users. The xMax cognitive radio system incorporates advanced optimizing technologies that include spectrum sharing, interference mitigation, multiple-input multiple-output (MIMO) and software defined radio (SDR). These and other technologies make xMax ideal for wide area, as well as rapid emergency communication deployment. xG offers solutions for numerous industries worldwide, including urban and rural wireless broadband, utilities, defense, emergency response and public safety.
Based in Sarasota, Florida, xG has 60 U.S. and over 140 international patents and pending patent applications, and its products have been sold in both domestic and foreign markets. xG is a publicly traded company listed on the NASDAQ Capital Market where xG common stock is traded under the symbol XGTI and xG warrants are traded under the symbol XGTIW. For more information, please visit www.xgtechnology.com.
Free Writing Prospectus Disclosure
On April 3, 2014, the issuer, xG Technology, Inc., filed a Registration Statement on Form S-1/A Amendment No. 1 (Registration No. 333-194810) with the Securities and Exchange Commission (the "SEC") with respect to the offering to which this press release relates. A copy of the preliminary prospectus for the offering is included in that registration statement. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may obtain these documents for free by visiting EDGAR on the SEC web site at www.sec.gov. Alternatively, copies of the preliminary prospectus and, when available, the final prospectus relating to the offering may be obtained from Roth Capital Partners, LLC, Prospectus Department, 888 San Clement Drive, Newport Beach, CA 92660, telephone: 800-678-9147, e-mail: [email protected]; or Feltl and Company, Inc., Prospectus Department, 800 LaSalle Avenue, Suite 2100, Minneapolis, MN, 55402, telephone: 612-492-8800, e-mail: [email protected].
Cautionary Statement Regarding Forward Looking Statements
Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. These statements include but are not limited to statements regarding the intended terms of the offering, closing of the offering and use of any proceeds from the offering. When used herein, the words "anticipate," "believe," "estimate," "upcoming," "plan," "target", "intend" and "expect" and similar expressions, as they relate to xG Technology, Inc., its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.
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