Itex Corporation

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Contents
For other similar names, see Itex.

Itex Corporation (OTCBB: ITEX) is an American company that provides a marketplace for cashless business transactions. The firm specializes in information technology and electronic funds transfer lifecycle management in an emerging niche market of cashless payment between firms. It works by supporting its clients' IT requirements and organising information technology on life-cycle management techniques concerning cashless payment and barter trading systems between various firms via the direct transfer of goods for a notional inter-corporate currency value set by the broker.[1][2]

[edit] Corporate history

Founded in America's Washington state, during 1982, ITEX is an inter-corporate marketplace for cashless business transactions across North America.[3][4] An early branch opened at Nassau in the Bahamas by 1991. Branches were also operating in Toronto and Quebec City (Canada) [5][6][not in citation given] [7][8] in 1995 and Vancouver in 1996 .[5] Other branches exist in Switzerland,[5] Australia,[9] New Zealand,[9] Romania,[10] South Africa,[5][11] parts of Russia, Peru, Puerto Rico and parts of India[12][not in citation given]. Operations are also being planned for Costa Rica.

[edit] Identity life-cycle manager

Microsoft's 'Identity Lifecycle Manager' identity life-cycle manager server is reportedly used to protect users identities and enact the company's economic life-cycle management techniques.

[edit] Economic activities

Products are bought and sold by the use of 'ITEX dollars', which are earned by the selling of- surplus products, corporate services, excess inventory and or corporate capacity on to other members via Itex's online services. The member businesses increase their sales and open new markets by utilizing ITEX dollars to exchange corporate goods and services amongst each other. This method of trading is known as 'inter-corporate barter trading'.

[edit] Corporate portfolio

ITEX processed over $300 million a year in transactions across 21,500 member businesses and sixty regional licensees in 2007. ITEX is powered by ITEX Payment Systems, the leading payment technology platform for cashless business transactions. ITEX is headquartered in Bellevue, Washington[1][13] and has a varying business portfolio with a diversified and growing clientele throughout North America. They also moved in to cordless phone banking early on in 2010 .[14] The core firm it' self had 32 (up 1 on 2008) employees, the ticker label 'ITEX' and: NAS Sales in 2009 of 16,502,000.[15] Total Sales in 2009 were worth $16.5M (up 3.4%), while the net income for 2009 stoodf at $0.6M and income growth was 35.0%.[16]

[edit] Economic controversy

[edit] The credit crunch

The 2008-2009 credit crunch made an impact on its services and corporate turnover in Romania and southern India.

[edit] See also

[edit] References

  1. ^ a b "ITEX Payment Systems - a small business community and barter network". Itex.com. http://www.itex.com/. Retrieved 2010-04-21. 
  2. ^ "Itex Careers and Employment". Indeed.com. http://www.indeed.com/cmp/Itex. Retrieved 2010-04-21. 
  3. ^ "ITEX Expands National Partnership Team". Reuters. 2008-09-02. http://www.reuters.com/article/pressRelease/idUS159241+02-Sep-2008+PRN20080902. Retrieved 2010-04-21. 
  4. ^ updated 08:54 pm (1970-01-01). "Yahoo!". Glue.yahoo.com. http://glue.yahoo.com/page/itex. Retrieved 2010-04-21. 
  5. ^ a b c d "ITEX announces creation of ITEX Canada | Business Wire | Find Articles at BNET". Findarticles.com. 1995-10-13. http://findarticles.com/p/articles/mi_m0EIN/is_/ai_17599255. Retrieved 2010-04-21. 
  6. ^ "Jersey Country and Foreign Investment Regime". Lowtax.net. http://www.lowtax.net/lowtax/html/jjecfir.html#geography. Retrieved 2010-04-21. 
  7. ^ "ITEX Canada acquires Quebec based barter exchange | Business Wire | Find Articles at BNET". Findarticles.com. 1997-04-16. http://findarticles.com/p/articles/mi_m0EIN/is_1997_April_16/ai_19319832. Retrieved 2010-04-21. 
  8. ^ [1][dead link]
  9. ^ a b Gary Bryant, Accuweigh, Australia. "Itex Australia And New Zealand". Hotfrog.com.au. http://www.hotfrog.com.au/Companies/Itex-australia-And-New-Zealand. Retrieved 2010-04-21. 
  10. ^ "ITEX Corp. licenses Romanian barterexchange. | Europe > Eastern Europe from". AllBusiness.com. http://www.allbusiness.com/economy-economic-indicators/economic-news/7033556-1.html. Retrieved 2010-04-21. 
  11. ^ "Balancing Act News Update - African internet developments". Balancingact-africa.com. http://www.balancingact-africa.com/news/back/balancing-act_224.html. Retrieved 2010-04-21. [dead link]
  12. ^ "Hindustan Petroleum Corporation Limited: Information Systems Officer: Last Date: 24th Feb., 2009: APPLY ONLINE". Humsurfer. 2009-02-24. http://www.humsurfer.com/hindustan-petroleum-corporation-limited-information-systems-officer-last-date-24th-feb-2009-apply-online. Retrieved 2010-04-21. 
  13. ^ "ITEX Corporation Company Profile - ITEX UNITED STATES Market Size, Market Share and Demand Forecast". Wrightreports.ecnext.com. http://wrightreports.ecnext.com/coms2/reportdesc_COMPANY_465647204. Retrieved 2010-04-21. 
  14. ^ [2]
  15. ^ [3]
  16. ^ [4]
  17. ^ Tribune Business News via AccessMyLibrary
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