X-CHANGE CORP - FORM 8-K - May 31, 2011
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| EX-99.1 - PRESS RELEASE DATED 5-25-11 - X-CHANGE CORP | ex99-1.txt | |||||
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: May 25, 2011
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
On May 25, 2011 The X-Change Corporation ("Company") announced that it had
closed on the purchase of a Casino Ship located in Freeport, Texas. The
acquisition was purchased by LDC Collection Systems, Inc., a Texas subsidiary of
The X-Change Corporation. The purchase price was 2,000,000 shares of newly
issued restricted common stock of the Company. The Casino ship, known as The
Texas Star Casino, is a 155-foot ocean going vessel equipped with 250 slot
machines and various table games. The ship also has facilities for
entertainment, beverage service and dining. It is anticipated that the ship will
operate beyond the 9-mile state territorial limit in the Gulf of Mexico. It is
anticipated that the Company will enter into an operating agreement with a
Nevada licensed operator to operate the gaming on the ship.
The ship was purchased from CJP Entertainment LLC, a Missouri corporation. The
ship was built in 1977 and updated in 1986. It was previously operated in
Georgia and Florida. The fact that it will be operating beyond the 9-mile State
of Texas territorial limit means it does not require a gaming license from the
State of Texas.
ITEM 9.01 - FINANCIAL STATEMENTS AND EXHIBITS
Exhibit No. Description of Exhibit
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99.1 May 25, 2011 Press Release
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: May 31, 2011 By: /s/ Haviland Wright
------------------------------------
Haviland Wright
Chief Executive Officer and Acting
Chief Financial Officer
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