We need to correct some information in yesterday’s article about ITEX/STX.
Cheryl Flynn is an employee with SuperMedia.
Megan Mitchell works out of ITEX’s head office.
Gail Gamble used to work for ITEX’s San Franciso office, but that was sold recently to a franchisee. Most likely she is working out of ITEX’s head office.
Additionally, this is an example of the growing nature of ITEX and STX’s relationship.
This information is taken from ITEX’s 10Q’s and 2009 10K filings:
-Web services initiatives which generated $87,000 in the quarter ended October 31, 2009
-Year ended July 31, 2009 and 2008. Marketplace and other revenue for year ended July 31, 2009, increased $538 or 3% to $16,502 from $15,964 during the prior year. We attribute this increase primarily to a $422 increase in our 2009 transaction fees resulting from an increase in the transaction fee percentage charged on transactions in the ITEX Marketplace. In addition other fee revenue increased by $60,000 primarily from two additional other revenue streams – Media and Web Services.
-On February 12, 2009, we granted a media services company a limited, non-exclusive right to use ITEX’s proprietary online broker and client relationship management platform, including billing functionality, data analysis and other offerings, as well as ITEX’s related hosting services. The revenue generated from platform subscription, support and consulting fee resulting from this arrangement amounted to $37,000 in the quarter and nine-month period ended April 30, 2009.
-For the Nine-month period ended April 30, 2009 – $37,000
-Fourth Quarter 2009 ending July 31, 2009 – $23,000 (approximately, includes a small amount of ITEX media revenue)
-Web services initiatives which generated $87,000 in the quarter ended October 31, 2009
As you can see, ITEX has been gaining additional revenues from their Software platform.
