NATE Reform Committee
Announces Special Meeting For Removal Of Current Board & Election Of
The following is an
invitation to all eligible National Association of Trade Exchange’s
voting members :
are cordially invited to a special NATE membership meeting. We
strongly encourage you to attend this special NATE meeting, so as to
have a voice in the future operation of your association.
true intention of the National Association of Trade Exchanges is to
serve the interests of its members and the barter industry in North
America. Therefore, the operation of the association should be under
the control of the membership, which then should elect a Board of
Directors to serve at the pleasure and for the benefit of the
your information, the National Association of Trade Exchanges was
incorporated in February of 1987 as a “General Not-for-Profit
Association” under the laws of the State of Missouri. Therefore,
Missouri statutes govern the activities of NATE and all other
non-profit organizations chartered in that state.
is necessary to call a special meeting of all NATE eligible voting
members for the purpose of removing the present board of directors,
to elect a new board, and to cover other pertinent issues which may
come up. A future meeting will then be scheduled to conduct further
business critical to the future of NATE.
November 1, 2008, 3:00 PM
5051 Duke Ellington Way
Las Vegas, NV 89119
(This information has been supplied to BarterNews by Gary Oshry,
President of New England Trade • 926 Eastern Avenue • Malden, MA
02148 • (781) 388-9200.)
IRTA’s 29th Annual
Convention Deemed Complete Success
(BarterNews thanks David
Wallach, IRTA President,
for the content of this article.)
More than 95 members of the modern trade and barter industry
traveled from all parts the world to attend and participate in the
29th Annual IRTA Convention. The event was held September 22 - 24 at
the sprawling, beautiful 63,000-acre Westlake River Ranch and
Resort, located 75 miles north of Orlando, Florida. Those in
attendance included representatives from Belgium, France, Germany,
Poland, Turkey, Singapore, New Zealand, Brazil, Puerto Rico, Canada
and the United States.
speaker Catherine Austin Fitts. who is the founder of Solari
Investment Advisory Services and former Assistant Secretary of
Housing, as well as a Federal Housing Commissioner during the George
H.W. Bush administration. Catherine received a standing ovation for
the delivery of her keynote address, wherein she detailed the
current state of the global banking and financial systems and why
current market events should increase demand for both local and
network barter exchanges along with alternative currencies.
currency movement representatives were present to participate in
forming the new Community Currency Council. The committee is chaired
by IRTA Global Board Member Richard Logie and will seek to
work directly with IRTA, to further unity and sustainability within
the movement. Annette Riggs a recognized leader of the
community currency movement led a well attended and educational
seminar titled “Community Currencies and Sustainable Businesses.”
All of the
seminars were created, written and presented by IRTA members in the
spirit of sharing information with others. The exceptional
presentations were well attended, educational, entertaining, and
informative. In addition to the contribution by Annette Briggs there
was “International Modern Trade and Barter” chaired by Reiner
Husemann, “Sales Techniques” moderated by Ron Whitney and
Gary Fields, “Media and Swipe Card Technology” by speaker
Kent Strong, “Trade Brokering using Project Management” put on
by David Wallach and Sally Selbman, “Certified Trade
Broker Training” was provided by Steve Acerra, “IRS and TIN
Matching” by Ron Whitney, and “How to Grow your Business”
moderated by Greg Esh.
elected to the IRTA Global Board of Directors were: Mary Ellen
Rosinski of Tradesource (USA), Perry Constantinides of
Barter Systems Inc. (USA), Don Mardak of International
Monetary Systems (USA), and Darius Brzozowiec of BCI
(Poland). The Global Board elected Mary Ellen Rosinski as
treasurer and Gary Fields of NuBarter (USA) as secretary
Hall of Fame Award is the highest honor the Modern Trade and Barter
Industry can bestow. The award recognizes individuals of the highest
professional character and ethical conduct who are regarded as
indisputable leaders of the industry. This year M. Sirri Simsek,
CEO of Turk Barter (Istanbul, Turkey), was the 2008 inductee and
graciously received his award during the recognition banquet, the
final event of the convention.
Outstanding Achievement Award for Bob Meyer publisher of
BarterNews was approved by the IRTA Global Board of Directors in
recognition of his more than three decades of dedicated service and
support of the industry. Bob is a member of the Barter Hall of Fame
and is acknowledged as a true barter pioneer. He continues to shape
and define the industry. Bob was unable to attend this year’s
convention because of complications in his ongoing struggle with
Awards are bestowed each year to recognize those individuals who
have served IRTA and the barter industry by giving unselfishly of
their time, effort and creativity, above and beyond the call of
duty. Reiner Husemann received the Paul St. Martin
Distinguished Service Award, Karen Welch accepted the UC
Champion Award, and Elizabeth Powell took the Top UC Broker
Award. 2008 Barter Ambassadors Awards went to Mary Nove,
Karen Welch, Kim Strabley, Rachel Taylor,
and Maurya Lane. Sponsor Awards included platinum to Don
Mardak - IMS, gold to Bob Bagga - BizXchange, silver to
Scott Whitmer - Florida Barter, bronze to Bill Bailey
- BBI, and the 2008 Barter Congress Award to Harold Rice -
American Exchange Network
IRTA Video Awards is a new program that recognizes outstanding video
productions created by industry companies. All attendees were
eligible to vote for their favorite in five categories. “Best
Vintage Video” went to Metro Trade, “Best Other Than English Video”
to Tradex Mexico, “Best Most Educational Video” to International
Monetary systems, “Best Most Entertaining Video” to BizXchange, and
“Best Video of Show” to NuBarter. (Look for these and other videos
coming soon at www.irta.com.)
IRTA’s financials were reported in good shape with a balanced
budget, cash in the treasury and little or no debts, either trade or
cash. In order to keep up with the ever rising costs of doing
business, the Board is however always looking for additional
With that in mind, the IRTA Global Board of Directors approved a new
Non-Industry Category of membership designed to attract large
national and multi-national companies into association with IRTA and
Universal Currency members. The board also put into place the IRTA
barter consulting service that will assist larger foundations and
companies to interface with the barter industry
Looking forward, the IRTA Global Board of Directors is considering
an ambitious, far-reaching slate of goals and objectives for 2009.
They include continuation the very effective Operation Outreach
program, the formation of a Speaker’s Bureau, creation of a
Cooperative Industry Advertising Campaign, and Development of Lesson
Plans and Syllabuses for presentation in economic departments of
business schools, universities and colleges.
During his State of IRTA presentation, IRTA President David Wallach
declared, “The future is bright and 2009 will prove to be exciting
and productive year for IRTA and the entire Modern Trade and Barter
International visitors look for BARTER CONTACTS in our Global Barter
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ITEX Unveils Results For
Fiscal Year 2008
ITEX Corporation (OTCBB: ITEX), a leading marketplace for cashless
business transactions in North America, filed its Form 10-K with the
Securities and Exchange Commission and announced its results for the
fiscal year ended July 31, 2008.
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.
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
“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. 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.
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.
assets increased 13% in 2008 to $16,149,000 from $14,304,000 in
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.
assets of two commercial trade exchange networks, expanding presence
in six U.S. regions.
common shares repurchased and canceled.
$112,000 in computer hardware and software and added two full time
equivalents to the Information Technology team.
national sales manager plus a business development position to
execute partnerships with national firms.
15% equity position in MyTypes, Inc., a Seattle-based technology
1, 2008, acquired the media trading system, client base, and
advertising credit assets of The Intagio Group of San Francisco,
national partnership team with addition of Steve Savad, co-founder
more information Form 10-K can be found at
the investor relations portion of their web site at
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