Green Apple Barter Targets $2 Million In Itex Transactions

ITEX Corporation (OTCBB:ITEX) has announced that Green Apple Barter Services, based in Pittsburgh (PA), has set a goal to provide $2 million in products and services into the membership trading community in the next twelve months. Since 1991, Green Apple has managed over $400 million in barter activity for their client companies from Boston to Honolulu.

“Over the past couple years, ITEX has made substantial improvements in their national network and my confidence continues to grow with their organization,” said Michael Krane, founder and president of Green Apple.

“It just makes sense for my company to increase the amount of business we do with ITEX, since it can be quite difficult to manage and reconcile transactions with independent, smaller exchanges. With over 1,400 members and transaction volume last year exceeding $48 million, we need to move large quantities of products to trusted trading partners to keep growing our business.”

Steven White, chairman/CEO of ITEX, divulged “Our goal is to only have the highest caliber of reciprocal relationships with other companies that manage trading communities. Select reciprocal relationships can be a great asset for ITEX and our trading partners where there is a foundation of mutual respect, trust, and a desire to help grow each others’ businesses.

“Many of our past reciprocal relationships have not lived up to these fundamental expectations. Some have been disguised as Trojan Horses, leading our members and their high demand products and services into the hand of competitors, while many others have taken from our marketplace without giving back,” he admitted.

“As a result, we have reduced the number of reciprocal relationships from more than 200 in 2005 to less than 90 today; ultimately we want to reduce the number to ten.”

White added, “As we continue to refine our list of trading partners, we look to those companies who have an established, reputable operation that will compliment our trading community, not compete with it. We then look to the principals of these companies as we need to have a high level of trust, based upon years of integrity and professionalism, and who are fair and reasonable if conflicts arise.

“Green Apple and their principals meet these high standards and our relationship has been very positive and mutually beneficial from the start. We are pleased to have them as one of our top core reciprocal partners.”

For more information, please visit www.itex.com and www.greenapplebarter.com.