PRODUCT OVERVIEW

Product Description

The TRANSWEBTM Exchange software engine intelligently routes, switches, tracks, and manages value-added Internet transactions. TRANSWEBTM Exchange provides object routing and value added network switching capabilities that allow the end user to access value added network services from multiple, remote content owners. This creates a virtual private service network for the extended enterprise. Our products are backed by U.S. Patent #s 5,778,178; 5,987,500; 6,212,556; 7,340,506; 8,037,158; 8,108,492; 7,930,340; 8,244,833; 8,271,339; 8,346,894; 8,407,318; and pending patents and Patent application #s 13/199,077; 13/573,457, all of which power any real-time Web transaction from any Web application from any device on any network, and deriving priority from provisional patent application # 60/006,634 filed November 13, 1995.

Internet Transactions

The WebXchange network may be owned and operated by any enterprise, large or small, to gain a competitive advantage and new channels of revenue. WebXchange offers connections that allow the service provider to maintain "stickiness" which is transparent to the user throughout the transaction process. Our revolutionary command and control network allows merchants of goods, information, and services to make online connections to suppliers, producers, retailers and the end user in real-time, while the service provider administers and monitors such a network. WebXchange provides a low cost and low maintenance interconnection between all stakeholders.

To make this possible, WebXchange utilizes a system of interconnected service nodes that can be integrated into existing application platforms. The WebXchange network (TRANSWEBTM) provides quantitative feedback on end user transactions. This allows the service provider to track end-user activity for each remote service control center.

Unique to WebXchange is its ability to interconnect services and applications that appear to be unrelated to each other. Network entry points can include web sites, call centers, cable TV channels, central office telecommunications switches, cell sites. Access devices can include computers, mobile phones, remote control of TV/VCRs, set-top TV boxes, etc.

WebXchange services provide a transparent network overlay, similar to the Telephone Company Model (TelCo). The TelCo model involves a network of connections to large centers that are then rerouted across a multitude of relays to finally arrive at the end destination of the call. This entire process is invisible to the end user. The telephone companies can measure the length of the call by the length of connection between the initial and destination centers.

WebXchange provides the same service for general TCP/IP data networks. The WebXchange model can also further analyze the transaction process with its multi-linear abilities. Flow of information does not occur in just one or two directions, but occurs in an n-space environment, allowing connections to an infinite amount of services.

Major Milestones and Timing:

Beta tests of the first release of TRANSWEB Exchange were successfully completed at Cisco Systems. A TRANSWEB host is currently operational with First Data for the processing of Visa, MasterCard, Discover, Amex, JCB, and Novus transactions. This installation is ready for full-scale launch, to process financial transactions for thousands of on and off-line merchants in real-time.

Market Size

According to the Gartner Group, the B2B world market is projected to reach $7.29 trillion in 2004. The Gartner Group projects that a further $380 billion will be spent in the B2C world market in 2003. However, there remains a lack of integration between different services, whether these are on or off the Internet. WebXchange?s new networking product is targeted specifically to fill a void in the Internet transaction control market by supporting virtual private networks for information exchange and usage-based transaction applications for portals and other Web sites. WebXchange believes that TRANSWEBTM will enable further growth through the stimulation of more cost-effective corporate interactions. The savings from this will be retained by e-commerce companies and passed on to the end user, stimulating additional growth.

Hundreds of millions of data transactions are projected to be conducted on a global basis. The volume will reach a comparable level to that seen on telephone networks from a transaction standpoint.

WebXchange technology routes transactions just like telephone networks. We are in the excellent position of being able to manage millions of transactions.

WebXchange?s new and virtual storefront concept will change forever how business can be conducted.

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Strategic Advantage

TRANSWEBTM Exchange is a software suite offered by WebXchange for distribution, tracking, management, referral, and fulfillment of E-Business. The core technology was developed after more than seven years of research and development. TRANSWEBTM Exchange is a patented product. WebXchange is the only company offering such a product today. While other vendors are still talking of the promise of tomorrow, WebXchange has it now. The product is available today and is ready for E-Business.