X-Change Corporation Receives Order from Baker Hughes Incorporated.DALLAS -- X-Change Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :XCHC) today announced that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , AirGATE Technologies, Inc., has received an order from Baker Hughes Baker Hughes NYSE: BHI is the world's third-largest oilfield services company behind Schlumberger & Halliburton, its main competitors. Baker Hughes provides the world's oil & gas industry with products and services for drilling, formation evaluation, completion and production. for an oil field drilling application using Ultra-Wideband (UWB (Ultra-WideBand) A wireless technology that uses less power and provides higher speed than 802.11 Wi-Fi networks or first-generation Bluetooth products. UWB is expected to provide wireless video transmission for home theater systems, cable TV, auto safety and ) technology. Unlike conventional wireless systems, which use narrowband modulated mod·u·late v. mod·u·lat·ed, mod·u·lat·ing, mod·u·lates v.tr. 1. To adjust or adapt to a certain proportion; regulate or temper. 2. carrier waves to transmit information, Ultra-Wideband transmits over a wide swath of radio spectrum, using a series of very narrow and low-power pulses. Ultra-Wideband has been described by some as one of the most promising technologies of our times. Early UWB systems were developed mainly as a military surveillance tool because they could "see through" trees and beneath ground surfaces. "AirGATE has gained much experience in ultra-wideband systems in developing its down hole tool technology," stated Juha Jussilla-Song, Vice President Operations Project Management. "This application broadens our work in the oil industry and has great potential." About Baker Hughes Incorporated Baker Hughes provides the worldwide oil and natural gas industry products and services for drilling, formation evaluation In petroleum exploration and development, formation evaluation is used to determine whether a potential oil or gas field is commercially viable. Essentially, it is the process of "recognizing a commercial well when you drill one". , completion and production. The Company creates value for oil and gas producers by providing practical and reliable technology to find, develop, produce and manage oil and gas reservoirs. Baker Hughes operates in over 90 countries worldwide providing products and services to international oil companies, independent oil and gas companies and national oil companies. About X-Change Corporation X-Change Corporation, through its wholly-owned subsidiary, AirGATE Technologies, Inc. is a leader in unique, vertical market applications utilizing RFID (Radio Frequency IDentification) A data collection technology that uses electronic tags for storing data. The tag, also known as an "electronic label," "transponder" or "code plate," is made up of an RFID chip attached to an antenna. and wireless, intelligent sensor An intelligent sensor takes some predefined action when it senses the appropriate input (light, heat, sound, motion, touch, etc.). Description The sensor has to do the following tasks:
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 United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. 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 or the X-Change Corporation's investor relations Investor relations The process by which the corporation communicates with its investors. web page at http://www.x-changecorp.com/index.html, and specifically the most recent reports on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 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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