ITEX Corporation (OTC Bulletin Board: ITEX), The Membership Trading Community(SM), a leading marketplace for cashless business transactions in North America, has announced that it retained Genesis Select Corporation to manage investor relations initiatives and to create more visibility for ITEX in the investment community.
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“We are pleased to have Genesis Select assist ITEX in enhancing our investor relations programs and creating more awareness for our Company among investors,” said Steve White, Chairman and CEO of ITEX. “We have been working hard on execution, giving little attention to the investor relations function. In fact, we have not utilized a investor relations firm since 2003. I think it’s time to share our successes with a broader investor audience and do so with an experienced, well respected, professional firm.

For ten years, Genesis Select has generated significant investor interest in emerging growth microcap companies as measured by both increased institutional ownership and research coverage. One of our board members previously worked with the Genesis team for many years and was impressed with their established relationships on Wall Street and their ability to deliver solid results,” added White.

“ITEX is at the forefront of revitalizing the business to business exchange marketplace with its network of 24,000 small business owners conducting more than $270 million in annual transaction volume. ITEX has begun to show both organic growth in registered users and revenue and has been a leading industry consolidator,” said Budd Zuckerman, president of Genesis Select. “The Company has achieved profitable results and strong, positive cash flow off a modest revenue base; utilizing some of its cash to repurchase its shares and complete three strategic acquisitions over the past three years. These are characteristics that both existing and new shareholders will appreciate. The Company recently introduced a Software as a Service (SaaS) model. This approach enables small and midsized businesses to create and reward communities, within their employee and customer base, using the ITEX proprietary exchange platform. We are really excited about the potential of SaaS as a new revenue generating initiative” added Zuckerman.

“Our Company continues to grow and execute well and we believe it’s time to raise our profile with investors. I look forward to working with Genesis Select and expect their efforts will be an important factor in creating more visibility for ITEX and an expanded investor base,” concluded White.

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This entry was posted on Thursday, March 6th, 2008 at 8:44 am and is filed under From The Street. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.