ITEX Corporation (PK) (ITEXD) News

ITEX: one for 2,000 reverse split followed by a 2,000 for one forward split. Fractional shareholders following the reverse split will receive $4.50/share.

https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes

What is the point of doing a 1:2000 followed by a 2000:1.

ITEX: effective Dec. 22,2020 a one for 600 reverse split followed by a 600 for one forward split. "Fractional shareholders following the reverse split will receive the greater of a) $4.50/share or b) the trading value of any Fractional Share based on the average daily closing price per share of the common stock on the OTC Markets for the five trading days immediately before and including the Effective Date."

https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes

$ITEX ITEX Announces Cash Dividend
Press Release | 11/05/2020
November 5, 2020
OTC Disclosure & News Service

Bellevue, WA —

This release includes additional documents. Select the link(s) below to view.
News Release - Dividend - 11-5-20.pdf

$ITEX https://www.otcmarkets.com/stock/ITEX/news/Tender-Offer-Documents-Offer-to-Purchase-Letter-of-Transmittal-Letter-to-Brokers-Letter-to-Clients?id=220083

Long 10,000 shares at $4, don't worry.
This is only barter exchange that works, the lower SP500 will go, the more business ITEX will make as barter is better option than banking which will be not available to many small and medium businesses. ITEX in 5 years at $10+

"ITEX News" ITEX Corporation Authorizes Stock Repurchase Program
PR Newswire March 09, 2010: 07:00 AM ET

http://money.cnn.com/news/newsfeeds/articles/prnewswire/SF67327.htm

BELLEVUE, Wash., March 9 /PRNewswire-FirstCall/ -- ITEX Corporation (OTC Bulletin Board: ITEX), The Membership Trading Community(SM), a leading marketplace for cashless business transactions in North America, announced today that its board of directors has authorized the repurchase of up to $2.0 million of its outstanding common stock.

The shares will be repurchased from time to time in open market purchases or privately negotiated transactions at times and in such amounts as management deems appropriate, in accordance with Securities and Exchange Commission Rule 10b-18 and other legal requirements. The timing and actual number of share repurchases will depend on a variety of factors, including price, corporate and regulatory requirements, alternative investment opportunities and market conditions. The stock repurchase program does not obligate ITEX to acquire any particular amount of common stock and may be modified or discontinued at any time.

ITEX will use its available working capital to fund the repurchase program. ITEX currently has 18,051,248 shares of common stock outstanding.

The stock is rising as it should in those uncertain economic times. It should be like that as long as the crisis ain't over and as long as people are gonna rely on other ways to make some profits then the regular channels.

I believe that ITEX is a profitable business that can create some unexpected opportunities to some business. It is a great tool to have in this time of economic uncertainty.

ITEX Corporation Executes Second Web Services Agreement
Jun 2, 2009 11:00:00 AM


Email Story Discuss on ZenoBank

View Additional ProfilesTrading Community Expands into Latin America


BELLEVUE, Wash., June 2 /PRNewswire-FirstCall/ -- ITEX Corporation (OTC Bulletin Board: ITEX), The Membership Trading Community(SM), a leading marketplace for cashless business transactions in North America, today announced that it has entered into a web services agreement with ITEX Latin America, Inc., a Panamanian corporation.


ITEX Latin America ("ILA") is currently developing a trading community in Panama, with future expansion planned in certain selected Central and South American countries, and will launch a Spanish language site in the near future. John Castoro, a principal in ILA, is also a principal of ITEX's largest franchisee, based in New York and New Jersey.


Mr. Castoro stated, "I've used ITEX's technology successfully for years and it was simply 'no contest' when it came to making a choice for our technology host and platform in Panama. The system is practical, efficient and scalable. I am very pleased to have reached an agreement with ITEX to use their proven web-based technology. We anticipate bringing many valuable trading opportunities to ITEX and to its 24,000 members in the United States and Canada in the hospitality field and other sectors of Latin America's economy. Expansion to Panama, with its stable democracy, good economic growth and a dollar-based currency provides an exciting opportunity for ILA and ITEX."


Steven White, ITEX Chairman and CEO observed, "Our enhanced technology platform strategy, offering web-based services to other businesses, has allowed us to expand our cashless transaction processing opportunities beyond the ITEX Marketplace. With two web service agreements executed, we have demonstrated that our dynamic web-based platform is marketable, capable of providing new revenue streams for our Company, and also provides added trading opportunities for our members. We are pleased to see a return on the technology investments we have made over the past several years."


Pursuant to the web services agreements, ITEX hosts the web interface, client relationship management (CRM) platform and is responsible for all transactional processing on the site. The first web services agreement was executed in February 2009 with Idearc Media LLC, a subsidiary of Idearc Inc. ITEX launched Idearc's on-line marketplace, SuperTradeExchange(SM), in March 2009.


Deal Points for each of the Web Services Agreements include:


-- One-time platform subscription fee;
-- Monthly transaction processing fee based on Gross Merchandise Volume
(GMV);
-- Management by ITEX of the back end processing, e-statement mailing, web
hosting and electronic collection of payments.



About ITEX

ITEX, The Membership Trading Community(SM), is a thriving network of participating member businesses. Members increase sales through an exclusive distribution channel managed by franchisees, licensees and corporate-owned locations, by utilizing ITEX dollars to exchange goods and services. ITEX is powered by ITEX Payment Systems, the leading payment technology platform for processing cashless business transactions. ITEX is headquartered in Bellevue, WA. For more information, please visit ITEX's website at www.itex.com. We routinely post important information on the investor relations portion of our website.



Contact:
Alan Zimmelman
ITEX Corporation
425.463.4017
alan@itex.com

Budd Zuckerman
Genesis Select
303-415-0200
bzuckerman@genesisselect.com


This press release contains forward-looking statements that involve risks and uncertainties concerning our expected performance (as described without limitation in the quotations from current management in this release) and comments within the safe harbor provisions established under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of our future performance. We believe that these potential risks and uncertainties include, without limitation: the continuing development of successful marketing strategies for our concepts; our ability to increase revenues and sustain profitability; the availability of adequate working capital; our dependence both on key personnel and our franchise network; and the effect of changes in the overall economy and in technology. Statements in this release should be evaluated in light of these factors. These risk factors and other important factors that could affect our business and financial results are discussed in our periodic reports and filings with the Securities and Exchange Commission, including our Forms 10-K and Forms 10-Q, which are available at www.sec.gov. All information set forth in this release is as of June 2, 2009, and ITEX undertakes no duty to update this information.


For more information, please visit www.itex.com



SOURCE ITEX Corporation



----------------------------------------------
Alan Zimmelman of ITEX Corporation
+1-425-463-4017
alan@itex.com; or Budd Zuckerman of Genesis Select
+1-303-415-0200
bzuckerman@genesisselect.com
for ITEX Corporation

About ITEX

ITEX, The Membership Trading Community(SM), is a thriving network of participating member businesses. Members increase sales through an exclusive distribution channel managed by franchisees, licensees and corporate-owned locations, by utilizing ITEX dollars to exchange goods and services. ITEX is powered by ITEX Payment Systems, the leading payment technology platform for processing cashless business transactions. ITEX is headquartered in Bellevue, WA.

CONTACT INFORMATION:

ITEX Corp.
3625 - 132nd Ave SE
Suite 200
Bellevue, WA 98006
http://www.itex.com

Phone: (425) 463-4000
Fax: 425-463-4041

SEC 10K FILED 10/01/08:


http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=6176172

NEWS 10/1/08:

ITEX Announces Results for Fiscal Year 2008

Revenues Increase 13% to $15,964,000 Income from Operations of $1,501,000

BELLEVUE, Wash., Oct 01, 2008 /PRNewswire-FirstCall via COMTEX/ -- ITEX Corporation (OTC Bulletin Board: ITEX), The Membership Trading Community(SM), a leading marketplace for cashless business transactions in North America, today filed its Form 10-K with the Securities and Exchange Commission and announced its results for the fiscal year ended July 31, 2008.
"We are pleased to report our fifth consecutive profitable year for ITEX," said Steven White, Chairman and CEO. "Despite a difficult and complex economic environment in the U.S., we recorded increases in revenues, cash from operating activities, total assets and stockholder equity in 2008."

"Revenues increased 13 percent and net cash provided by operating activities increased 15 percent in 2008. Our operational cash flows provided the capital to fund two acquisitions in 2008 adding 2,400 clients. Total assets increased 13 percent and stockholders' equity increased 8 percent compared to 2007."

Mr. White continued, "In 2008, we expanded our visibility in the investment community by retaining an investor relations firm and a financial advisor. We have presented to numerous research analysts, portfolio managers and equity firms around the country to discuss the ITEX business model, our financial performance and expansion goals. We are confident this foundation of work will benefit stockholders."

"With the current economic uncertainty, we are well positioned to aid our member base in generating new sales and conserving precious cash. Our August 1, 2008 acquisition of the media trading platform, clients and advertising credits from The Intagio Group, Inc. allows us to offer a variety of new opportunities to the ITEX Marketplace. Our strong operational cash flow will allow us to continue investing in our technology, to initiate new revenue- generating projects and to pursue strategic alternatives," White concluded.

Fiscal Year 2008 Highlights
-- Marketplace revenue increased 13% in 2008 to $15,964,000 from
$14,171,000 in 2007.
-- Net cash provided by operating activities increased 15% in 2008 to
$2,374,000 from $2,057,000 in 2007.
-- Stockholders' equity increased 8% in 2008 to $13,319,000 from
$12,330,000 in 2007.
-- Total assets increased 13% in 2008 to $16,149,000 from $14,304,000 in
2007.
-- Fourth quarter revenue increased 18% to $4,065,000 compared $3,451,000
last year; fourth quarter income from operations increased 31% to
$339,000 from $259,000 in 2007.
-- Acquired assets of two commercial trade exchange networks, expanding
our presence in six U.S. regions.
-- 202,384 common shares repurchased and canceled.
-- Invested $112,000 in computer hardware and software and added two full
time equivalents to our Information Technology team.
-- Created a national sales manager plus a business development position
to execute partnerships with national firms.
-- Acquired a 15% equity position in MyTypes, Inc., a Seattle-based
technology firm.


Subsequent Events
-- On August 1, 2008, we acquired the media trading system, client base,
and advertising credit assets of The Intagio Group, Inc. of San
Francisco, California.
-- Expanded national partnership team with addition of Steve Savad,
co-founder of restaurant.com.


ITEX Corporation's report on Form 10-K can be found at http://www.sec.gov and on the investor relations portion of our website at http://www.itex.com.

I agree, sweet chart

ITEX stock is so close to taking off. The chart is a thing of beauty, that's for sure. We could sure use a little news out of management to kick-start the move higher... much higher.

-b'brella

There is potential for a breakout here. If this does, a potential 6-12 month target could be > $2.
If one use the following formula:

Target= P/E at breakout x (2.3) x (future 12 mos EPS)

This is my opinion only.

Fundamentals are strong over the past year. Technically, I have not seen many BB stocks/pinkies present a chart like this. With a better PR machine, this thing could skyrocket.

ITEX closed on Friday at the highest price in many, many months. I'm not a technician, but, the trend is definitely our friend. Volume has been strong as well. They are in a position to deliver a huge 2007. Sure wish they would be a little more investor friendly, however... maybe some conference calls, audio webcasts/presentations, etc. I'd love to read more about how some of their members are succeeding with their program. The ITEX website does list some positive examples of happy members.

Next week should be interesting.
-b'brella

If ITEX' stock breaks thru .65/share, it will be off to the races (in my opinion). With such a small float, any breakout will be eye-popping. Earnings should be out any day. Of all the smallcaps I follow, ITEX is perhaps my favorite. Amazing potential for this "under the radar" gem.

-b'brella

OK now will somebody tell me whats wrong with ITEX?

Staggering math

Take $1 million cash registered to ITEX revenue stream for first 19 days of August and project that through 365-day fiscal year:

365 divided by 19 = 19.4, mulitplied by $1M = $19.4 million.

"To our knowledge, no company in the business to business cashless marketplace has ever deposited $1,000,000, generated from transaction and association fees in any month, and we have achieved this in the first 19 days!" -- Steven White). According to the past fiscal year SEC filing, we can expct roughly one third of that to be net income. So $19.4 DIVIDED BY 3 = $6.4 million.

$6.4 million divided by 18.6 million shares = .34 EPS.

At .34 EPS, if ITEX stock was to trade at a PE of five, that equals $1.70 per share. PE of 10? $3.40, and so on.

The best part? My formula above stipulates $1 million taken in per 19 days. According to what Steven White stated on Aug. 19 ("My ultimate goal is to continue to shorten the time period of generating $1,000,000 to a weekly and then a per day event!" said Steven White, chairman and CEO of ITEX.) Those figure are very CONSERVATIVE and we ain't seen nothin' yet!

Way way way undervalued!!!

As per: jonnyc2006 - RB ITEX board

Insider Buys for ITEX...

10-Jan-05 BEST, ERIC
Director 40,000 Direct Acquisition (Non Open Market) at $0.45 per share. $18,000
10-Jan-05 WHITE, STEVEN
Chief Executive Officer 40,000 Direct Acquisition (Non Open Market) at $0.45 per share. $18,000
10-Jan-05 WADE, JOHN A
Secretary/Treasurer 40,000 Direct Acquisition (Non Open Market) at $0.45 per share. $18,000
30-Jul-04 WHITE, STEVEN
Chief Executive Officer 235,000 Direct Purchase at $0.22 - $0.23 per share. $53,0002
30-Jul-04 CHRISTENSEN, COLLINS M.
Beneficial Owner (10% or more) 200,000 Direct Sale at $0.22 per share. $44,000
29-Jul-04 WHITE, STEVEN
Chief Executive Officer 120 Direct Purchase at $0.21 per share. $25
3-May-04 WHITE, STEVEN
Chief Financial Officer 300,000 Direct Acquisition (Non Open Market) at $0.155 per share. $46,500
15-Mar-04 BEST, ERIC
Director 40,000 Direct Acquisition (Non Open Market) at $0.19 per share. $7,600
15-Mar-04 WHITE, STEVEN
Chief Financial Officer 40,000 Direct Acquisition (Non Open Market) at $0.19 per share. $7,600
15-Mar-04 WADE, JOHN A
Secretary/Treasurer 40,000 Direct Acquisition (Non Open Market) at $0.19 per share. $7,600
15-Mar-04 ZIMMELMAN, ALAN
Chief Operating Officer 40,000 Direct Acquisition (Non Open Market) at $0.19 per share. $7,600
18-Dec-03 HUMER, LEWIS A. JR
Chief Executive Officer 100,000 Direct Sale at $0.12 per share. $12,000
20-Nov-03 HUMER, LEWIS A. JR
Director 132,182 Direct Sale at $0.13 - $0.14 per share. $18,0002
1-Oct-03 HUMER, LEWIS A. JR
Chief Executive Officer 11,120 Direct Sale at $0.15 per share. $1,668
5-Sep-03 WHITE, STEVEN
Chief Financial Officer 22,500 Direct Purchase at $0.17 per share. $3,825
4-Sep-03 WHITE, STEVEN
Chief Financial Officer 8,500 Direct Purchase at $0.16 per share. $1,360
4-Sep-03 BEST, ERIC
Director 65,000 Direct Purchase at $0.1143 per share. $7,429
3-Sep-03 WHITE, STEVEN
Chief Financial Officer 56,000 Direct Purchase at $0.16 - $0.17 per share. $9,2402
2-Sep-03 WHITE, STEVEN
Chief Financial Officer 5,000 Direct Purchase at $0.15 per share. $750


Data provided by EDGAR Online

ITEX chart: Looks like its on a nice run here lately

Of significant notice: "To our knowledge, no company in the business to business cashless marketplace has ever deposited $1,000,000, generated from transaction and association fees in any month, and we have achieved this in the first 19 days! No registration fees are included in this amount. My ultimate goal is to continue to shorten the time period of generating $1,000,000 to a weekly and then a per day event!" said Steven White, chairman and CEO of ITEX. "Our integration continues to bring tremendous value to our membership and the proof is evident in the numbers."