A press release from xG Technology - the first since May - reports on what's been happening in the last four months.
"28 August 2008
xG Technology, Inc.
FIRST TX60 MOBILE VOIP HANDSET ASSEMBLY
xG Technology, Inc. ("xG" or "the Company"; LSE-AIM: XGT"), the communications technology business, has this week reached a further significant milestone in its goal of developing next generation mobile VoIP communications with the manual assembly of its TX60 handsets by Cambridge Consultants, the design and development house. After testing, the handset design will be passed to xG's production partner in China.
The second generation BSN250 base stations that will operate with the TX60 mobile VoIP handsets are nearing completion and will be subsequently rolled out to replace the first generation BSN200s that have been used by xG's dealer customers for territory mapping.
Well, good. A number or two wouldn't have hurt but as the last few press releases involved financial stuff - you know, termination of contracts, remuneration for stakeholders, exercise of options (twice), change of advisors - so it's good to get a tech update, even if it's that a contractor's soldered together a test unit.
Previous to that, the last substantive release was this, in early January:
" xG Ships Network Equipment to New Markets
xG Technology, Inc. (“xG”), the Florida based communications technology business, is pleased to announce that shipments of the Company’s xMax base stations are commencing to markets beyond its initial market in Daytona Beach, Florida, including to new customers in Maryland, South Carolina, Kansas and elsewhere in Florida.
Frank Peake, Deputy COO, said: “It is rewarding to be at the stage where we are supplying a number of new customers in multiple markets who will be deploying their networks using our low cost solution and equipment.”
Which was exciting enough, following on this one from last November:
" 28 November 2007
xG Technology, Inc.
Announces First Phase of xMax Network Launch
xG Technology, Inc. ("xG" or the "Company"), the Florida based communications technology business, is pleased to announce that the first xMax base station and antennas have been installed in its first commercial market in Daytona Beach, Florida. This signifies the formal launch of xG's initial United States network roll-out. As part of the launch, successful wireless calls are being made, and the Company is in the process of networking additional towers and ramping up network capacity.
It turned out there was no commercial market nor expansion - but to be expected when you've got a technology so super-secret you can't show it to anyone and a poor choice of partner. Bad luck on the latter, xG. I'm sure your investors were very understanding.
I recommend the curious to pop onto xG's website and read the press releases for themselves. The numerate might further decide to count the financial press releases and calculate the ratio of those versus the technical ones -- and yet further again, examine the flow of cash documented or implied, I'm only competent (and that barely) to analyse the radio engineering; xG's financial engineering is rather beyond me.
That's assuming that anyone numerate is still following this story. Is this a good assumption?