ITEX Reports Transactions, Income, Repurchase Of Shares

The ITEX Corporation (OTCBB:ITEX) announced that New York franchisee John Castoro exceeded $20 million in transaction volume during the past 12 months, earning close to $900,000 in cash fees. CEO Steven White stressed, “Part of our expansion goal is to attract solid performers to become ITEX franchises, while we cultivate our existing independently-owned offices to grow organically.”

February/March Performance Totals:

·         Transaction volume of $37,004,000 compared to $23,299,000 in the same period of 2004, a 59% increase.

·         Cash deposits of $2,337,000 compared to $1,557,000 in the same period of 2004, a 50% increase.

·         Completed transactions comprising 49,112 compared to 28,017 in the same period of 2004, a 75% increase.

·         Member businesses totaling 22,000 compared to 13,400 in the same period of 2004, a 64% increase.