SOURCE: X-Change Corporation (The)

November 03, 2009 09:33 ET

The X-Change Corp. Announces Preliminary Agreement With Support Services and Systems, LLC, Will Provide IT Services to the International Gaming Industry

ADDISON, TX--(Marketwire - November 3, 2009) - The X-Change Corp. (PINKSHEETS: XCHC) announced it has entered into an agreement to acquire 100% of Support Services and Systems, LLC (S3). S3 currently has service contracts for providing IT and operating services to international gaming companies and is investigating the acquisition of an IT company in India. Additionally, S3 is negotiating government (US and Foreign) and private industry contracts for provisioning IT services and communication networks.

S3 was owned and operated by James J. Tuchi and Alan L. Dudley; Messrs. Tuchi and Dudley will become officers and directors of X-Change upon completion of the acquisition. Mr. Tuchi is the Executive Managing Director of Baron Capital Group. He was formerly Senior Partner, Consulting Advisory Services, KPMG Peat Marwick, where he was responsible for managing the firm's gaming and lottery international consulting services. Mr. Dudley is the developer of PECOS, the international standard equipment systems integration operating system. Mr. Dudley has designed communication operating platforms to manage the interoperability of gaming network services for various devices on a real time basis. When implemented, the PECOS system permits simultaneous, real time gaming operations, with interactive video, for up to one million point-of-sale devices.

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Forward-Looking Statements

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. Factors that could cause or contribute to such differences include the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations regarding public and private lotteries in India and other countries. The X-Change Corp. does not undertake any duty nor does it intend to update the results of these forward-looking statements.

Contact Information

  • Corporate Contact:
    Wayne Duke
    The X-Change Corp.
    (972) 386-7360