Attached files
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report: September 20, 2010
The X-Change Corporation
(Exact name of small business issuer as specified in its charter)
Commission File Number: 002-41703
Nevada 90-0156146
(State of incorporation) (IRS Employer ID Number)
12655 North Central Expressway, Suite 1000 Dallas TX 75243
(Address of principal executive offices) (Zip Code)
(972) 386-7350
(Registrant's telephone number)
Check the appropriate box below if the Form 8 K filing is intended to
simultaneously satisfy the filing obligation of the Registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR230.425)
[ ] Soliciting material pursuant to Rule 14a 12 under the Exchange Act (17
CFR 240.14a 12)
[ ] Pre commencement communications pursuant to Rule 14d 2(b) under the
Exchange Act (17 CFR 240.14d 2(b))
[ ] Pre commencement communications pursuant to Rule 13e 4(c) under the
Exchange Act (17 CFR 240.13e 4(c))
ITEM 8.01 - OTHER EVENTS
PROSPECTIVE ACQUISITION
On September 20, 2010, The X-Change Corporation (Company) announced that the
Company has signed an agreement to acquire Cybertel USA, Inc., based in Los
Angeles, California, for $800,000 cash payable to the shareholders of Cybertel
USA in exchange for 100% of the issued and outstanding stock of Cybertel USA,
Inc. The closing of this transaction remains subject to the completion of
appropriate due diligence by all parties.
Cybertel USA sells a software-based office telephone system commonly known as a
"virtual office" phone system. The system uses the internet to deliver all the
features of a PBX without the costly set-up and expensive hardware found in such
systems. Cybertel's virtual system seamlessly integrates multiple locations and
remote employees, supporting home and traditional offices and companies that
have employees working in both types of locations. Cybertel USA's system offers
free unlimited long distance calling anywhere in the US and Canada, free local
number per user, 24/7 customer support, a virtual office and virtual
receptionist menu, and support for mobile and "landline" phones.
In addition, Cybertel USA offers voicemail, conference calling, call on hold,
and many other features. Subscribers can transfer their existing number or
choose a regular or toll-free number in the US or in 32 other countries. To
facilitate international dialing, Cybertel USA offers low-rate calling cards
with PIN-less dialing.
TICKER SYMBOL
As disclosed in a previous Current Report on Form 8-K for the Company's reverse
stock split, FINRA Operations, effective June 1, 2010, no longer changes a
Company's ticker symbol for entities that are requesting a name change. In the
event that an entity is doing a reverse or forward split, a "D" will be placed
on the ticker symbol for 20 business days. After 20 business days, "D" will be
dropped and the symbol will revert back to its original format. It is
anticipated that the Company's temporary symbol of "XCHCD" will revert to the
original symbol, "XCHC", in the near future.
ITEM 9.01 - FINANCIAL STATEMENTS AND EXHIBITS
Exhibit No. Description of Exhibit
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99.1 September 20, 2010 Press Release
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned thereunto duly authorized.
THE X-CHANGE CORPORATION
Dated: September 20, 2010 By: /s/ Haviland Wright
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Haviland Wright
Chief Executive Officer and
Acting Chief Financial Officer
