March 10, 2009
by Bob Meyer, Editor of BarterNews
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the desk of Bob Meyer...03/10/2009
Unemployed? Barter Your Services For Your Next Job
Here’s a little used technique that will make an impression
on an employer. Suggest that you will work for no pay
(bartering your services) in return for on the job training
for a period of time. There are plenty of employers who have
cut to the bone with layoffs, but still have work to get
ITEX’s CEO Presented Overview At Technology
Steven White, CEO of the ITEX Corporation, presented a
corporate overview of his company’s current operations and
an update on its web strategies at the Securities Research
Associates Fifth Annual Winter Technology Conference, March
9. The conference was held at the Omni Hotel in San
Francisco. A video replay is available on the ITEX web site,
www.itex.com under the Investors Relations section.
Bay Area BizXchange Is Booming
BizXchange, in the San Francisco Bay Area, has 500 members.
But the interest in barter is so intense that the company is
projecting an 80% growth for 2009. Chief Operating Officer
Chris Haddawy says members today are focusing more on core
business expenses like printing, signage and advertising.
Trade Stock Shares For Plush Vacation
We’ve seen two different situations where hoteliers and/or
travel agencies are offering top-end hotel rooms for a
special vacation. No cash is needed, instead pay for the
rooms with shares of stock you’re holding—at today’s share
price. One of the entities will even add a 10% premium to
the share price.
back issues of “From the Desk...” can be accessed by
free to forward our newsletter to your friends and
colleagues. We have a “box” at the end of the
newsletter for your convenience.
See you next week. . .)
ITEX Announces 2nd
Quarter Earnings & New SaaS Agreement
ITEX Corporation (OTCBB:ITEX),
a leading marketplace for cashless business transactions in North
America, filed its Form 10-Q with the Securities and Exchange
Commission and announced results for its fiscal 2009 second quarter
ended January 31, 2009.
“ITEX has been fortunate
to be resilient to the fallout from the global financial crisis,”
affirmed Steven White, Chairman and CEO. “The current economic
turmoil has resulted in an increase in media coverage of the
benefits offered to businesses with the use of barter through the
“New member registration
increased 45% this quarter and 31% for the first two quarters of
fiscal 2009, when compared to the same periods last year. To
capitalize on these difficult economic times, we made a conscious
decision at the beginning of this fiscal year to invest more in our
technology and support staff, as well as sales, marketing and
advertising efforts in order to build market share and increase
“We saw a small increase
in revenues for the quarter,” he continued. “Expenses and earnings
were in line with what we expected. Selling, general and
administrative costs increased this quarter primarily due to an
increase in bad debt expenses related to increases in revenue and
accounts receivable. Other contributing factors were increases in
rents due to our August 2008 acquisition, investor relations expense
and expenses related to our web services initiative.
“We have virtually no
long-term debt on our balance sheet and our short term acquisition
debt has been reduced to $301,000. Three of our four acquisitions
since August 2005 have been paid in full. All four acquisitions are
now fully integrated into our operations and are contributing
positively to our long-term strategies.
“For the remainder of
this fiscal year, we plan to continue to invest our cash flow and
earnings in our future; to be aggressive in utilizing ITEX
Marketplace resources. While other businesses slow spending,” White
concluded, “we seek to capture market share and capitalize on
opportunities that arise in difficult economic conditions.”
Quarter 2009 Highlights
$4,365,000 compared to $4,175,000 in the same period last year;
from operations of $235,000 compared to $482,000 in the same period
last year, reflecting the increase in selling, general and
administrative costs in the quarter;
provided from operations of $1,187,000 compared to $1,805,000 in the
same six-month period last year;
end of period was $1,207,000 compared to $1,061,000 at July 31,
1,108 new members in the current quarter verses 765 last year and
registered 2,052 for the six-month period versus 1,571 last year, a
45% and 31% increase respectively;
the remaining balance of our note to The Intagio Group for the
recently acquired media services assets;
into an agreement with U.S. Bank to increase the maximum loan amount
under our revolving credit facility from $1.0 million to $1.5
million and lower the interest rate.
first web services SaaS agreement with a Fortune 1000 media company.
The agreement grants the right to use their proprietary online
marketplace, web interface, and client relationship management
platform for a $350,000 platform subscription fee, recurring
transaction processing fees based on the gross value of
transactional activity hosted by the platform, and support and
consulting fees as rendered.
The ITEX proprietary
online marketplace, web interface, and client relationship
management platform (CRM) can be customized and branded for a
variety of online marketplaces or communities. The platform is
unique in its ability to track both cash transactions and those
based on non-cash, digital currencies.
report on Form 10-Q can be found at
Attention Trade Exchange Owners. . .It’s GROW OR GO!
The magic bullet for growth is sales, always has been and always
will be...yet the industry’s overall growth is anemic. Why? Maybe
it’s because we’re not providing on-going education about our unique
way of doing business. Knowledge is always a pre-requisite to taking
And for those newcomers, the lifeblood of an exchange, awareness of
and understanding about the value of trading is even more important.
If you expect prospects to come aboard and your members to be more
active traders, but you are perplexed when the results are less than
you desire...there’s a good reason. You must continually educate
and motivate every month--month after month after month!
Such action is necessary because, let’s face it, more cash business,
not trade, is of paramount importance to your members. You must
break through this “cash only” focus and redirect their thinking
toward barter. Although most exchanges don’t see the importance of
doing so, many industry leaders are taking action and so can you.
As the owner of your own operation, there is an easy and
inexpensive solution for moving forward...look
into using The Competitive Edge newsletter. It’s a
camera-ready, 4-page, professionally written, informational
marketing tool...available in PDF format as well as print. So
regardless of how you reach your prospects and clients, you will
have the necessary vehicle.
Written especially for you, the busy trade exchange owner, I am
certain it will be the best investment you ever make.
For more information about The Competitive Edge, and how it
can benefit you
IMS Launches Online
Travel-On-Trade Booking Service
International Monetary Systems (OTCBB:INLM) has announced the debut
of a full-service, online travel planning and booking resource for
their nationwide membership network. The new capability allows
members to search online for accommodations available in North
America, Mexico and the Caribbean. Reservations and purchase can be
made using their IMS Barter membership and trade dollars.
Don Mardak noted, “For years, IMS has maintained skilled travel
planning professionals on staff. Providing travel opportunities to
our trade members has always been highly popular, and has always
been an enormous generator of trade volume. This is precisely why we
have made an additional investment in building this online portal to
our travel department.”
“The new online portal to IMS Travel,” pointed out Kim Strabley,
managing director of reciprocal and travel division, “provides
members with accommodation booking services they are familiar with
from sites like
Members can search properties based upon dates of travel and other
specific needs, and pay using their IMS trade dollars.”
more information on IMS see
International visitors look for BARTER CONTACTS in our Global Barter
Section. If YOUR exchange isn’t listed see the forms on the lower
left of the page. (Click
Attention trade exchange owners...thousands of visitors every month
visit our BARTER CONTACTS section on our web site where we have
names & addresses of barter companies in the USA. If YOUR exchange
isn’t listed, or the information is incorrect, you can correct the
situation by using the forms to the lower left of the USA map. (Click
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Printed IRTA's Letter To The Editor
USA Today publication printed IRTA’s “Letter to the Editor” that
Dave Wallach and Ron Whitney composed and submitted last week.
The letter is appropriately titled “Modern Trade and Barter Can Aid
can access the letter at
Money-Making Reports Available From BarterNews
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latest article, “The New Financiers,” discusses all the new ways of
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growing the green economy, I refer to Entrex (the Chicago-based
am now in discussions with Entrex about partnering with us at
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Check it out...feedback welcomed.
the past weeks, we were delighted to have meetings here with
Schumacher Society president Susan Witt, Prof. Jerry Brown,
co-author of Freedom from Mideast Oil (2007), and our
Advisory Board members Oscar Motomura, president of Amana-Key (Sao
Paulo), and John Fullerton of Level 3 Capital Advisors, LLC. We are
honored to be working with them all.
How To Get More Sales In
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The Growth and Use of
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Today’s New Age Of Possibility
are many forms of secondary capital—which can be defined as any
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have 70 free, informative and inspiring, articles for you in our
“Secondary Capital Section.”
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