This is a partial transcript from Your World with Neil Cavuto, October 22, 2002, that was edited for clarity. Click here for complete access to all of Neil Cavuto's CEO interviews.

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NEIL CAVUTO, HOST: Ever wish you knew exactly where you kids were all the time? And I do mean all the time?

Well, a California company has come out with the world's first personal tracking device for children. It's worn like a wristwatch, and a parents then can track over a satellite system over the Internet exactly where their little ones are. All the more handy especially given the latest Washington-area developments. After a summer of highly publicized abductions, and of course that sniper on the loose, I have a feeling this guy's phone is going to be ringing off the hook. Timothy Neher is the CEO of Wherify Wireless. It's a privately held company, for now. He's in San Jose.

Timothy, thanks for coming.

TIMOTHY NEHER, CEO, WHERIFY WIRELESS: Good evening, how are you?

CAVUTO: How does this work?

NEHER: Well, Wherify Wireless is really a nationwide location service provider. We're going to enable parents to locate their children through the Internet or by calling a live operator 24 hours a day, seven days a week.

So let's say your child is wearing the watch. You have an 8-year-old walking to school. They felt in danger. They could push one button on the watch and actually lock it onto their wrist. It's made of cut resistant material and also has a tamper sensor all the way around the device. So someone's not going to take that off your child. The situation then escalates. They feel in danger. They push the two buttons on the end, the red buttons. And it will basically come back to a certified 911 operator where we will contact the guardian and can dispatch police to the child's exact location.

CAVUTO: But all of this costs some dough, right? I mean, in order to set up the service to buy the phone what are we talking about?

NEHER: Right. Absolutely, well, there is one more part of the business, it's the non-emergency, if you have kids at daycare you can see if the baby-sitter got there on time to pick them up.

Right now we are retailing, well, we will be in retail next month, at $399 for the watch that also includes the whole set-up fee for the connection to the 911 nationwide Internet access. So the whole service itself is, you know -- and then there will be a monthly service. And we are actually selling them direct through the Web site and 877-LOCATE-1 right now.

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