Allow me to be very skeptic about this.
It is much cheaper to use good ol' cell phone technology.

http://www.physorg.com/news137863959.html

Scientists to study synthetic telepathy

A team of UC Irvine scientists has been awarded a $4 million grant from
the
U.S. Army Research Office to study the neuroscientific and
signal-processing foundations of synthetic telepathy.

The research could lead to a communication system that would benefit
soldiers on the battlefield and paralysis and stroke patients, according
to
lead researcher Michael D'Zmura, chair of the UCI Department of Cognitive
Sciences.

"Thanks to this generous grant we can work with experts in automatic
speech
recognition and in brain imaging at other universities to research a
brain-computer interface with applications in military, medical and
commercial settings," D'Zmura says.