SARASOTA, Fla., Oct. 7, 2013 /PRNewswire/ -- xG Technology, Inc. ("xG" or the "Company") (Nasdaq: XGTI, XGTIW; AIM: XGTU.L, XGT.L), a developer of wireless communications and spectrum sharing technologies, is pleased to announce that the xAP™ (xMax Access Point), has received FCC certification by way of a Grant of Equipment Authorization. This was the final regulatory approval needed to allow xG to begin delivery of all components of its xMax cognitive network solution to its customers. As a result, the Company is now positioned to begin commercial production against the previously announced backlog for xMax network equipment and services totaling over $35 million.
The xAP is the third xMax cognitive radio networking product to receive FCC certification, following the xMod Mobile Hotspot and xVM Vehicle Modem last month. The xAP provides wireless broadband connectivity to xMod and xVM devices that support end user access to fixed and mobile Internet, video and voice services.
"With all required FCC certifications now complete, we can begin fulfilling xMax network equipment orders for our xMax cognitive radio system," said John Coleman, CEO of xG Technology. "xG has been able to successfully achieve delivery of high-quality components from our supply chain, internal xMax production and testing and full FCC certification of our product suite, all while working under a capital constraint."
Coleman continued, "Our next steps are to transition our assembly and testing capability to external contract manufacturers. With external production in place, we can begin shipping against backlog orders in volume. We are now evaluating financing options to fund this next phase of operations. While our timetable to volume shipment and revenue recognition has been extended, we have made strong progress toward commercializing the xMax cognitive radio broadband solution with this latest FCC certification."
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV