LOS ANGELES, March 25 /PRNewswire-FirstCall/ -- The X-Change Corporation (Pink Sheets: XCHC), a multimedia and e-commerce venture serving the diverse and growing Hispanic markets, announced today the formation of Nevada corporation Commerce Services, Inc., from which it will build a home shopping business.
Company President and CEO, Haviland Wright, Ph.D., said, "We serve a market that is 43 million persons strong, with buying power approaching $1.2 trillion in 2011. Our home shopping service, yet to be named, will offer an attractive selection of merchandise to this important market."
Richard T. Steele, today named president of the new subsidiary, said, "Our products will be delivered to a diverse and dynamic population that likes to shop online and adopts new technology at a high rate."
"Hispanics are high consumers of new media, including web, mobile, and TV converter boxes," stated Fernando A. Gomez, executive vice president of The X-Change Corporation. "We will use these technologies to reach dominant Hispanic groups in nine US cities and Puerto Rico, and we will address our customers in culturally relevant ways that develop an emotional connection."
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, the USA, 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 TV converter boxes, the web, and mobile devices, and an entertainment service delivering Latino-targeted content to web browsers, TV, 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