The X-Change Corporation Announces Selection of Video Technology, Creation of New Subsidiary
LOS ANGELES, March 17 /PRNewswire-FirstCall/ -- The X-Change Corporation (OTC: XCHC), a multimedia and e-commerce venture serving the diverse and growing Hispanic market, announced today that it has reached agreement with Los Angeles-based technology company IPTVWorld, Inc., to work as partners in the development and deployment of a broad range of Internet-based services, with a first release of a new product line scheduled for staged release beginning May, 2010.
Compelling video programming, including entertainment, information, news, sports, religion, lifestyle, shopping, and country-specific programming, will be made available several ways, including on a subscription basis through powerful set-top boxes, through web browsers, and, in future versions, through mobile devices. Subscriptions will be offered that are similar to but far less expensive than traditional cable or satellite plans. Among the completely integrated Internet services to be offered will be a robust home telephone service with low-cost international calling, expected to be popular options among the markets the company serves.
The X-Change Corporation also announced the incorporation in Nevada of wholly owned subsidiary Caballo Blanco Communications Ltd. The new line of business will be conducted through this entity and will be housed at One Wilshire, the premier communications hub on the west coast, assuring reliable, fast delivery of its programming.
Company President and CEO, Haviland Wright, Ph.D., said, "It is impossible to underestimate the opportunities for this venture presented by the wide and growing presence of residential DSL and broadband connections to the Internet. With the capabilities we are announcing today, it's as if our company has acquired its own high-definition TV station, and we will be developing or licensing a wide variety of programming, offered as video on demand or as traditional full channels. We now own substantial advertising space that we can sell to others and use for our company's own products and services, such as residential and business telephone services and our home shopping channel."
Dr. Wright added, "The technology known as VOIP, or Voice Over Internet Protocol, has created an enormous business opportunity. We're taking advantage of this opportunity and we intend to profitably deliver these products to our customers."
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 set-top boxes, 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