HOUSTON, TX--(Marketwire - Oct 12, 2012) - X-Change Corporation (OTCQB: XCHC) is pleased to provide information on the Company's present and past development, acquisitions, partnerships and finances, as well as the launch of it's new website. These divisions include the acquisition of Guardian Telecom, Inc. and Cutbank Operating, Inc., the partnership with W.W. Grainger, Inc., the distribution deal with Montana Datacom, Inc., and services to ASAM Distributor Saudi Aramco Oil Company. Moving forward with all the recent progress within the Company, X-Change Corporation is announcing the forthcoming launch of its website, http://www.xchange-corp.com.
The X-Change Corporation previously closed a transaction with Guardian Telecom, Inc. a leading company in the design and manufacturing of industrial communication equipment for oil and gas companies. The acquisition of Guardian Telecom, Inc. will expand X-Change Corporation's product line and services into the industrial, petrochemical, power facilities, refineries, exploratory drilling, operation of wells on leases, and the servicing of drilling and work over rigs. The Company is expected to file a Super 8K with the Securities and Exchange Commission. Guardian has recently expanded its contract manufacturing division for projected revenues of $10 Million for end of year 2013. Guardian Telecom, Inc.'s ending 2012 revenues were SIX MILLION FOUR HUNDRED THOUSAND ($6,400,000.00). Guardian has manufacturing facilities in Calgary, Canada and has sales and technical support offices in the United States, UAE and Dubai.
Guardian Telecom has recently executed a supplier agreement with W.W. Grainger, Inc. for worldwide distribution of Guardian's Products and services. This partnership will enable the Company's products to be sold in the Grainger Supplier Handbooks, websites, e-commerce initiatives, and through other media sources. Grainger will use its SKU to promote and sell Guardian Telecom's product lines. Grainger offers more than 400,000 products in distribution worldwide, ranging from mop buckets and power drills, to water pumps and power generators to drill bits. In addition, it will source more than a million more products on request from customers, using the Internet as a sourcing tool. W.W. Grainger, Inc. with 2011 sales of $8.1 billion is North America's leading broad line supplier of maintenance, repair and operating products, with expanding global operations.
Cutbank Operating, Inc., based out of Houston, Texas, executed a Letter of Intent with a private oil and gas fund for participation in working interest for an initial 5,000 acre, 8 well drilling program in Daniels County, Montana. This enables X-Change Corporation's ability to fully operate as an independent oil and gas operator in the developmental and operation of wells. The funding commitment is for $65 MILLION. Upon success of the production of the first 8 wells, the fund will provide an additional $175 million in working interest. The company is expected to begin its drilling program in early November. Cutbank Operating Inc. is an oil and gas services company that is engaged in acquisition, development drilling, exploitation, exploration and production of crude oil and natural gas. Cutbank Operating Inc. provides the best technologically advanced solutions to a myriad of problems encountered in exploitation and exploration of oil and gas throughout the Bakken Shale. The Bakken has reserve estimates up to 6-24 billion barrels of recoverable oil. More than 6000 wells are active in the Bakken shale, and wells continue to be drilled in North Dakota and NE Montana.
Guardian Telecom, Inc. have shipped its weatherized and industrialized telephone systems to Saudi Aramco Oil Company. The value of the two shipments is $450,000.00. Guardian Telecom has now sold more than 1000 industrialized phones and acoustic booths to Saudi Aramco Oil Company at more than 1000 well sites throughout the kingdom through its distributor, ASAM (Ali Salim Al Midfa) Trading Establishment. The company expects to receive well over $2,000,000.00 in shipments over the next 12 months. Saudi Aramco is the world leader in the production of petroleum-based energy, exploration, refining, distribution, shipping and marketing, and they manage the world's largest proven conventional crude oil and condensate reserves of 259.7 billion barrels.
Montana Datacom Inc. joined Guardian Telecom, Inc. as a new USA distributor. Montana Datacom Inc. will increase revenue expectations by an additional Three Million Dollars ($3,000,000.00) for 2012-2013. Montana Datacom Inc. strengthens Guardian Telecom's presence in the Northeast area transportation sector including Port Authorities, Light Rail Transportation, Subways, Rail and Transit. This will translate into major exposure of Guardian's extensive line of Industrial Products and related communication equipment for the oil and gas industry.
In addition, Guardian Telecom, Inc. has booked $991,312.00 in sales for the month of August, 2012, resulting in 110% increase over 2011 booked sales. Booked sales are defined as a contract and/or a purchase order for Guardian products and services. Guardian Telecom, Inc. has already booked in excess of $2.4 million in sales contracts for 2012-2013. The Company is expected to exceed 150% growth over previous year with expectations exceeding $10 Million in sales versus last year. For more updates on finances and information on recent contracts please visit the new website, http://www.xchange-corp.com.
Guardian Telecom, Inc.
Guardian Telecom, Inc. is a leader in the design and manufacture of industrial communication equipment for oil and gas companies for on and off-shore rigs, oil refineries, mining, nuclear and power facilities worldwide. Guardian is ISO 9001-200 certified and designs, manufactures and distributes globally Industrial Telephones, Hazardous Area & Explosion-Proof Telephones, VoIP Telephones, Accessories, Acoustic Booths and Paging equipment with certifications including: CSA, IC-CS03, UL, FCC, EU ATEX/CE, NEMA, ABS, ACA (Australia), KSA-SASO (Kingdom of Saudi Arabia) and CFT (Mexico). Guardian has manufacturing facilities in Calgary, Canada and has sales and technical support offices in the United States, UAE and Dubai and Mexico. For more information please visit www.guardiantelecom.com.
About X-Change Corporation
X-Change Corporation is building interests in a broad range of oil and gas projects worldwide. The Company is an independent energy company engaged in the production, development, acquisition, exploitation and exploration of crude oil and natural gas.
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.