Hauppauge, New York-based iX Systems Inc, which made Smart Card-operated transaction terminals, has thrown in the towel: it says that with a shortage of working capital, lack of demand for the iX2010 terminal, the large additional capital investment required to continue operations, and in order to preserve remaining cash, the company will immediately cease all ongoing operations; the company made Motorola Inc embedded microcomputer systems that electronically capture and process data and communicate with computer databases, and the company also holds a patent on the Ulticard, a credit card sized pocket computer with smart card capability; the company says it will now look for a suitable business that might like to reverse into it and make use of its public corporate structure and remaining capital.
