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June 16,  2009

Written by Bob Meyer, Editor of BarterNews

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ITEX Earnings For Third Quarter Fiscal 2009

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 third quarter ended April 30, 2009.

“ITEX continues to be resilient to the fallout from the global financial crisis,” said Steven White, Chairman and CEO. “We realized a small increase in revenues for the quarter with expenses and earnings in line with what we anticipated.

“Our cash from operations was strong and we continued to invest in our technology, support staff, and sales, marketing and advertising efforts during the quarter. Additionally, we elected to pay off our remaining Note balance incurred as a result of the 2007 Intagio Trading Community acquisition, eliminating all long term debt. All four acquisitions entered into since 2005, totaling more than $8 million in cash payments, have been paid in full and are fully integrated. We plan to continue to capitalize on the opportunities that arise in difficult economic conditions.”

White continued, “We are pleased that our web services initiative has had early successes — providing new revenue streams for the company in addition to expanding trading opportunities for our members. Our first web-services agreement was executed during the quarter with Idearc, LLC. For a one-time platform subscription fee and a monthly transaction processing fee, ITEX hosts the web interface, client relationship management platform, and is responsible for all transactional processing.

“We also provide a proprietary processing technology that enables members of any of our web-services clients to seamlessly accept the digital currency of another web-services client; a very exciting tool for all users. In our second web-services agreement executed in May, we added services to selected areas of Central and South America.”

Third Quarter 2009 Highlights

·         Revenue of $3,981,000, compared to $3,871,000 in the same period last year;

·         Income from operations of $344,000 compared to $408,000 in the same period last year;

·         Net income of $224,000, compared to $230,000 in the same period last year;

·         Net cash provided from operations of $1,535,000, compared to $1,770,000 in the same nine-month period last year;

·         Cash at end of period was $1,194,000, compared to $1,061,000 at July 31, 2008;

·         Signed first web-services agreement with a Fortune 1000 company which included a one-time $350,000 platform subscription fee and a monthly transaction processing fee based on gross merchandise volume (GMV).

ITEX’s report on Form 10-Q can be found at www.sec.gov.


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 sustained action.

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 click here.


New “High-End” Barter Service Introduced

A new high-end barter/trade service, http://www.AssetFair.com, is now available. AssetFair members can trade houses, boats, fine antiques, jewelry and even intellectual property worth $3,000 or more for other high-end property or cash bids. One Arizona-based member is currently listing a 16th century painting worth $35,000. And a member in Hungary is presently listing his entire business — an $800,000 ice cream café for exchange.

Originally from Prague in the Czech Republic, founders Vladimir and Sarka Hulpach now reside permanently in Arizona. They are also the co-owners of Fountain Vista Properties, LLC, which completed several multi-tenant buildings, including the 31,400-square-foot Fountain Oasis as well as a Hilton Resort project in Fountain Hills.


* * ANNOUNCEMENT * *

25 Years Of BarterNews Issues Now In Digital Format

Welcome to the largest repository of barter contacts, strategies, and barter techniques in the world. All 64 issues of BarterNews now available in digital format at http://www.barternews-ezine.com.


·         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 here.)

·         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 here.) 

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Plan On Becoming A Valued Intra-preneur!

Entrepreneurs you’ve heard of. They start businesses. But everybody can’t be the founder. So if you’re an employee, a valued part of the company team, plan on becoming an intra-preneur!

Intrapreneurs are insiders who improve existing businesses. True growth opportunities exist for you when you look at your organization with an “intrapreneurial” spirit.

Here’s how you can have a dramatic effect on the company’s bottomline:

Look for ways to streamline tasks or processes. No idea, really, is insignificant. It could mean determining that a certain task is now obsolete or can be managed by someone else — freeing you up to take on different, more constructive responsibilities.

Change your way of thinking, or do things in different, more productive ways. Are you in a rut? Take a challenge or situation and try to look at it from a completely different angle. You many uncover a new way to save your organization money and time.

Sell your vision. Do you have a new idea? Have you created a breakthrough? An idea may seem worthwhile, but until it’s put into action, it will require a leap of faith — by you and those decision makers who have the power to implement your suggestions.

Be persistent. Stay with your vision long enough to let it succeed. If, for example, you have sold a plan to computerize your department, or create a Web page, and have documented the projected savings to the company, you are needed to nurture the project to make it work.

Don’t be easily discouraged, not every idea will be embraced. However, if you are tenacious, as an intra-preneur you will affect bottomline results and improve the business. You will then be acknowledged and recognized as a valued member of your organization.


Money-Making Reports Available From BarterNews

Barter Economy Back In Panama

With the current global financial crisis, bartering, a practice that predates any modern form of currency, reemerges as a possible solution to the credit crunch. Today’s technological advances make barter a natural means of economic exchange — one that has returned to center stage.

John Castoro, owner of the New York and New Jersey franchises of ITEX which handle $250,000,000 worth of deals a year, has 14 years experience in the trade exchange/barter business. He and other investors bought ITEX’s web-platform for Latin America, choosing Panama as the launch pad for the venture because of its dollar-based economy.

Initially in Panama to deal in real estate, locals — after learning about his background in the barter field — encouraged him to set up a similar trading network in their country. Consequently, trading services have been available since May and are targeted at businesses where the variable costs are low, such as hotels, media, and service related businesses. Members of the cashless marketplace can buy and sell products and services to each other, using accrued credits within the ITEX system instead of real cash.

“The point is, we take your company’s unused capacity, and bring you new business,” said Castoro. ITEX aims to give its customers 5-10% extra business which would not normally take place if dealing with cash. These are transactions business agree to only because it’s on barter.” Castoro also promises to help clients keep their cash, and most importantly enhance their lifestyle.

“With bartering,” Castoro noted, “you do things you wouldn’t do in the cash world.” An example? Castoro indulges in limo rides once in a while, a service provided by one of the ITEX clients in New York, and one which he would never dream of paying for with cash. Castoro admitted, “It’s just like having another bank account.”

ITEX customers get a checkbook, and 24-hour access to the online service, where they can both list the services they are offering and check out services other clients offer. When a beneficial transaction is identified, clients call a trade director and let them know what they are offering and what they want in return.

The company generates revenue by charging a $20 fee per month (waived when you refer 3 new clients), and 6% transaction fee to both sellers and buyers. Over 50 local Panamanian businesses, from doctors and lawyers to boutique hotels and restaurants, are customers of ITEX’s bartering system. All of which can barter services among themselves and with any of ITEX’s North American clients.

For more information on ITEX go to www.itex.com.


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The Growth and Use of Secondary Capital (New Money) Creates Unprecedented Wealth In Today’s New Age Of Possibility

There are many forms of secondary capital—which can be defined as any financial instrument that measures and communicates value in a common language. Would you like to see and learn more about the many forms of secondary capital?

 We have 70 free, informative and inspiring, articles for you in our “Secondary Capital Section.”

Check it out... www.barternews.com/secondary_capital.htm.


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