Friday, January 06, 2006 12:54:59 PM
XCHC .60 - X-Change to File 8K on Major Contract...
News below..
X-Change to File 8K on Major Contract
DALLAS, TX -- (MARKET WIRE) -- 01/06/2006 -- X-Change Corporation (OTC BB: XCHC), announced today that it is filing an 8K on AirGATE Technologies' agreement with Hexion Specialty Chemicals, Inc. AirGATE Technologies is a wholly owned subsidiary of the X-Change Corporation. The 8K will be filed next week.
The Phase 2 contract exceeds $750,000. In addition, Hexion Specialty Chemicals has acquired 500,000 shares of restricted common stock. In Phase 1 of the same project, AirGATE developed and tested proprietary technology that will be used in oil & gas well development. AirGATE is developing cutting edge technology to solve a critical problem in the oil and gas industry. AirGATE's efforts have focused on the design of a new technology that is not currently available.
AirGATE will begin field-testing the Phase 2 product in the second quarter of this year. Based upon results, the Phase 2 contract will lead to commercialization of the technology, and AirGATE will receive a 5% royalty on gross revenues from use of the technology.
About Hexion Specialty Chemicals, Inc.
Based in Columbus, Ohio, Hexion Specialty Chemicals combines the former Borden Chemical, Bakelite, Resolution Performance Products and Resolution Specialty Materials companies into the global leader in thermoset resins. With 86 manufacturing and distribution facilities in 18 countries, Hexion serves the global wood and industrial markets through a broad range of thermoset technologies, specialty products and technical support for customers in a diverse range of applications and industries. Hexion Specialty Chemicals is owned by an affiliate of Apollo Management, L.P. Additional information is available at www.hexionchem.com.
About AirGATE Technologies
AirGATE Technologies, Inc. is an early-stage company specializing in radio frequency identification (RFID) and wireless, intelligent, sensor technology. As a full-solution company, AirGATE Technologies handles business assessment, process and technology blending, solution architecture, technology selection, including proprietary AirGATE technology, and integration and support. The Company has, in an environment of technology cost compression, built a stable of technology partners that are best in class and span a wide range of solutions to support small, medium and large enterprises. Please visit www.AirGATEtech.com for more information.
About the X-Change Corporation
The X-Change Corporation is a company that was organized to seek merger or acquisition candidates. The Company intends to acquire interests in emerging opportunities that the Company believes will generate significant revenues and return a profit to shareholders. Please visit www.x-changecorp.com for further information.
Forward-Looking Statements
Except for historical information contained herein, the statements made in this release constitute forward-looking statements (including within the meaning of Section 27A of the United States Securities Act of 1933 and Section 21E of the United States Securities Exchange Act of 1934). Such forward-looking statements are based on current expectations that are subject to significant risks and uncertainties that are difficult to predict, including statements regarding the intent, belief or current expectations of the X-Change Corporation, AirGATE Technologies and their respective managements regarding strategic directions, prospects and future results. These forward-looking statements include, among other things, statements regarding future events and the future financial performance of the X-Change Corporation that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. Readers are referred to the documents filed by the X-Change Corporation, which are on file with the U.S. Securities and Exchange Commission and may be accessed at http://www.sec.gov, and specifically the most recent reports on Form 10-K and 10-Q, each as it may be amended from time to time, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The X-Change Corporation disclaims any obligation to update or correct any forward-looking statements made herein due to the occurrence of events after the issuance of this press release.
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For further information, please contact:
Michael P. McInerney
972-747-0051
SOURCE: X-Change Corporation
--------------------------------------------------------------------------------
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Issuers of news releases, not Market Wire, are solely responsible for the accuracy of the content.
News below..
X-Change to File 8K on Major Contract
DALLAS, TX -- (MARKET WIRE) -- 01/06/2006 -- X-Change Corporation (OTC BB: XCHC), announced today that it is filing an 8K on AirGATE Technologies' agreement with Hexion Specialty Chemicals, Inc. AirGATE Technologies is a wholly owned subsidiary of the X-Change Corporation. The 8K will be filed next week.
The Phase 2 contract exceeds $750,000. In addition, Hexion Specialty Chemicals has acquired 500,000 shares of restricted common stock. In Phase 1 of the same project, AirGATE developed and tested proprietary technology that will be used in oil & gas well development. AirGATE is developing cutting edge technology to solve a critical problem in the oil and gas industry. AirGATE's efforts have focused on the design of a new technology that is not currently available.
AirGATE will begin field-testing the Phase 2 product in the second quarter of this year. Based upon results, the Phase 2 contract will lead to commercialization of the technology, and AirGATE will receive a 5% royalty on gross revenues from use of the technology.
About Hexion Specialty Chemicals, Inc.
Based in Columbus, Ohio, Hexion Specialty Chemicals combines the former Borden Chemical, Bakelite, Resolution Performance Products and Resolution Specialty Materials companies into the global leader in thermoset resins. With 86 manufacturing and distribution facilities in 18 countries, Hexion serves the global wood and industrial markets through a broad range of thermoset technologies, specialty products and technical support for customers in a diverse range of applications and industries. Hexion Specialty Chemicals is owned by an affiliate of Apollo Management, L.P. Additional information is available at www.hexionchem.com.
About AirGATE Technologies
AirGATE Technologies, Inc. is an early-stage company specializing in radio frequency identification (RFID) and wireless, intelligent, sensor technology. As a full-solution company, AirGATE Technologies handles business assessment, process and technology blending, solution architecture, technology selection, including proprietary AirGATE technology, and integration and support. The Company has, in an environment of technology cost compression, built a stable of technology partners that are best in class and span a wide range of solutions to support small, medium and large enterprises. Please visit www.AirGATEtech.com for more information.
About the X-Change Corporation
The X-Change Corporation is a company that was organized to seek merger or acquisition candidates. The Company intends to acquire interests in emerging opportunities that the Company believes will generate significant revenues and return a profit to shareholders. Please visit www.x-changecorp.com for further information.
Forward-Looking Statements
Except for historical information contained herein, the statements made in this release constitute forward-looking statements (including within the meaning of Section 27A of the United States Securities Act of 1933 and Section 21E of the United States Securities Exchange Act of 1934). Such forward-looking statements are based on current expectations that are subject to significant risks and uncertainties that are difficult to predict, including statements regarding the intent, belief or current expectations of the X-Change Corporation, AirGATE Technologies and their respective managements regarding strategic directions, prospects and future results. These forward-looking statements include, among other things, statements regarding future events and the future financial performance of the X-Change Corporation that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. Readers are referred to the documents filed by the X-Change Corporation, which are on file with the U.S. Securities and Exchange Commission and may be accessed at http://www.sec.gov, and specifically the most recent reports on Form 10-K and 10-Q, each as it may be amended from time to time, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The X-Change Corporation disclaims any obligation to update or correct any forward-looking statements made herein due to the occurrence of events after the issuance of this press release.
--------------------------------------------------------------------------------
For further information, please contact:
Michael P. McInerney
972-747-0051
SOURCE: X-Change Corporation
--------------------------------------------------------------------------------
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Issuers of news releases, not Market Wire, are solely responsible for the accuracy of the content.
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