LOS ANGELES, March 11 /PRNewswire-FirstCall/ -- The X-Change Corporation (Pink Sheets: XCHC), a multimedia and e-commerce venture serving the diverse and growing Hispanic markets, today announced adjustments in the company's strategic direction.
Under the direction of President and Chief Executive Officer Haviland Wright and new board members, The X-Change Corporation intends to form and develop two divisions focused on serving Hispanic markets in North America, a bilingual home shopping network and a Latino-targeted media-delivery service.
Management intends to develop and leverage relationships with existing home shopping networks to build significant Hispanic audiences that purchase merchandise on the web and through mobile devices. These relationships and the know-how of management will conserve capital that would ordinarily be required for buying, inventory warehousing management, development of an online sales infrastructure, shipping and returns, customer service, and the focus on effective merchandising and marketing. The Company's management understands and is in a position to monitor the buying preferences and behaviors of its markets--each of which has unique characteristics. The Company will develop intriguing episodic productions that feature popular Hispanic talent promoting their product lines, an approach that has been successfully implemented at other home shopping platforms such as QVC.
The Company's media-delivery network will be similar to the approach taken by video services such as Hulu® with a focus on providing popular Hispanic entertaining and informative content as streaming media to the web and mobile devices. The state of the art of video-delivery technology is sophisticated and advanced, and this business is considered a content-licensing and promotion play, where the entity's value grows with viewership. Revenue shall be derived from advertising, subscriptions, and the sale of smartphone applications. Channels will organize content on offer to the widely varying tastes of its markets and individual subscribers, ranging from romance to mystery to science fiction to drama to police procedurals. The content will be a combination of individual segments, serial productions, and motion pictures.
About The X-Change Corporation
The X-Change Corporation is a multimedia and e-commerce venture serving the diverse and growing Hispanic markets of North America, including Canada, North America, and Mexico through the provision of services tailored to their cultural expectations and preferences. These services initially include a bilingual home shopping network accessible through the web, mobile devices, and TV, and an entertainment service delivering Latino-targeted content to web browsers and mobile devices. The Company intends to seek out or build complementary products that help it achieve its goals for growth and profitability.
This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing works such as "anticipate," "seek," intend," "believe," "plan," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. The X-Change Corporation does not undertake any duty nor does it intend to update the results of these forward-looking statements.
SOURCE The X-Change Corporation