First off, I don't think it actually exists. They are claiming it'll be available December 2016. This wouldn't be the first product like this to fail when it hits reality.
In theory it'll use 900mhz to create a network with other users that have the device. Their claims of 10 miles sound pretty overblown, I suppose if you're on the side of a mountain with nothing obstructing your view of a valley... no trees in between you and the other person.. maybe..
Notice also they say you can communicate with any nearby users, no mention of control over that. Do you want pedophiles being able to track your children with ease???
The devil is in the details...