xG Technology To Showcase Innovative Private Broadband Wireless Network Solution For Public Safety Communications At APCO 2014 Event
Sarasota, FL /PRNewswire/ - xG Technology, Inc. ("xG" or the "Company") (Nasdaq: XGTI, XGTIW), a developer of wireless communications and spectrum sharing technologies, will showcase the xMax System, a private broadband wireless network solution that features patented cognitive radio network technology, at the 80th annual APCO International Conference and Expo to be held August 3-6, 2014 in New Orleans, LA. With over 5,000 attendees and exhibitors, APCO's Conference & Expo is the largest gathering of public safety communications professionals in the industry.
The xMax System is a first-of-its-kind wireless mobile broadband network that can be rapidly deployed in any environment to provide voice, video, and data communications when traditional infrastructure is compromised due to natural or manmade disasters. Once the xMax System is deployed, any commercial device with WiFi connectivity, including smartphones, tablets and laptops, can be connected to the network. This flexibility provides emergency management leaders with unmatched command and control capabilities.
According to Tim Moynihan, Vice President of Sales at xG Technology, the challenges that emergency response teams face after a disaster often put lives and property at risk. "Superstorm Sandy in 2012 knocked out 25% of the cellular towers in ten states, flooded dozens of communications centers, and wiped out power for weeks in some parts of the northeast," Moynihan said. "The xMax system is ideal for these kinds of situations," he added, "since it is mobile and portable, completely self-contained, and enables emergency response teams to establish a private wireless network in about two hours."
xG Technology will be located in booth 1361 during the show. In addition to presenting its products, xG will be exhibiting a comprehensive, rapid-response mobile communications vehicle on the show floor. The expo will be open Monday, August 4 from 10 a.m. to 5 p.m. and Tuesday, August 5 from 10 a.m. to 4 p.m.
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: firstname.lastname@example.org; or Feltl and Company, Inc., Prospectus Department, 800 LaSalle Avenue, Suite 2100,Minneapolis, MN, 55402, telephone: 612-492-8800, e-mail: email@example.com.
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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