LOS ANGELES, May 21 /PRNewswire-FirstCall/ -- The X-Change Corporation (OTC: XCHC), a multimedia and e-commerce venture serving the diverse and growing Hispanic market, announced a one-for-twenty reverse stock split. A reverse stock split reduces the number of shares.
Company President and CEO, Haviland Wright, Ph.D., said, "Since March, we have been executing a new business plan designed to build a company that we believe is an excellent investment, with the potential for extraordinary growth. We are taking this action so that investor evaluation of The X-Change Corporation will be accurately reflected in our stock price. We expect this to enable us to raise the capital needed to execute our business plan."
About The X-Change Corporation
The X-Change Corporation is a publicly traded shopping, auction, and social networking venture serving the diverse and growing Hispanic markets of the Americas through the provision of services tailored to our customers' cultural expectations and preferences. 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