<< Return to the Press Releases
ITEX ANNOUNCES REGIONAL SPONSORSHIP OF ENTREPRENEURS' ORGANIZATION NEW YORK CHAPTER
Bellevue, WA May 19, 2008 ITEX Corporation (OTCBB: ITEX), The Membership Trading CommunitySM, a leading marketplace for cashless business transactions in North America, announced today it has become a regional sponsor of the New York City chapter of the Entrepreneurs' Organization (EO). Sponsors receive an introduction to the Chapter's membership, access to all events, special placement on the Chapter's website, and ongoing recognition in monthly newsletters.
John Castoro, the top ITEX franchisee in the United States, and I met at the New York Restaurant show last year, said Steve Savad, NYC Chapter Director and the Founder of Restaurant.com. I thought the business model of a trading community was intriguing and a great fit for many of the EO member companies. Among the missions of EO is to source value-added partners that provide offerings that can help our member companies better succeed. As I better understood how the ITEX trading system works, it became apparent that it was a natural fit with our fast-growing companies. Our members and I look forward to contributing to ITEX's success by growing their Trading Community while helping each of our members through their nationwide cashless marketplace.
We look forward to working closely with Steve Savad and the EO New York City Chapter. The goal is to register all the businesses in the New York City chapter and we are off to a great start, said Steven White, Chairman and CEO of ITEX. Already nearly a dozen EO New York businesses have completed their registration, including Go Green Expo, Fuel Outdoor, Advantage, and 888 Red Light. The quality of these new members is exceptional.
White concluded, We are selectively searching for high quality partnerships and relationships throughout the country to promote ITEX services to the business community. Cross marketing to business organizations is a great way for ITEX to grow its membership base.
About Entrepreneurs' Organization (EO)
The Entrepreneurs' Organization (EO) is a global network of business owners, all of whom run companies that exceed US$1M in annual revenue. We engage leading entrepreneurs to learn and grow through executive education and other tools for business owners.
EO is a global community that enriches members' lives through dynamic peer-to-peer learning and once-in-a-lifetime experiences. We are the catalyst that enables entrepreneurs to learn from each other, leading to greater business success and an enriched personal life.
In a market characterized by an abundance of business resources, only EO provides entrepreneurs with an environment to learn and grow. People say EO "gets it," because we give our members the confidence, context and content that enable them to be successful entrepreneurs. EO also enables seasoned entrepreneurs, who are consistently faced with competing priorities and an increasing reflection on making their mark, to achieve a balance between business success and a fulfilling lifestyle.
Through our core values: Boldly Go, Thirst for Learning, Make a Mark, Trust and Respect and Cool! we are working to build the world's most influential community of entrepreneurs. By engaging leading entrepreneurs to learn and grow, EO is fueling the entrepreneurial engine!
About Entrepreneurs' Organization New York Chapter
The EO New York Chapter, www.eonyc.org, was founded in 1993 and boasts more than 200 members. Membership participation is limited to the company Founders and the 'C' level, Chairman/CEO's and Presidents. Chapter members employ more than 3,000 individuals with USD sales in excess of $1.4 billion dollars.
About ITEX
ITEX, The Membership Trading CommunitySM, is a thriving community of member businesses buying and selling more than $270 million a year in ITEX dollar transactions. Member businesses increase sales through an exclusive distribution channel managed by franchisees, licensees and corporate-owned locations, by utilizing ITEX dollars to exchange goods and services. ITEX is powered by ITEX Payment Systems, a leading payment technology platform for processing cashless business transactions. ITEX is headquartered in Bellevue, Washington.
Company Contact
Alan Zimmelman
ITEX Corporation
425.463.4017
Institutional Contact:
Budd Zuckerman
Genesis Select
303.415.0200
This press release contains forward-looking statements that involve risks and uncertainties concerning our expected performance (as described without limitation in the quotations from current management in this release) and comments within the safe harbor provisions established under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of our future performance. We believe that these potential risks and uncertainties include, without limitation: the continuing development of successful marketing strategies for our concepts; our ability to increase revenues and sustain profitability; the availability of adequate working capital; our dependence both on key personnel and our franchise network; and the effect of changes in the overall economy and in technology. Statements in this release should be evaluated in light of these factors. These risk factors and other important factors that could affect our business and financial results are discussed in our periodic reports and filings with the Securities and Exchange Commission, including our Forms 10-KSB and Forms 10-QSB, which are available at www.sec.gov including under the caption, "Management's Discussion and Analysis of Financial Condition and Results of Operations." All information set forth in this release is as of May 19, 2008, and ITEX undertakes no duty to update this information.
