ITEX released their annual report as of July this year. I don’t want to reprint the whole report, or even a summary, but I do want to give you a link to the original and say a little bit about something that interests me.
Last year I spent some time covering the ITEX software as a service initiative and SuperTradeExchange. This year’s report includes a nice section about ITEX’s web services…
We expanded our investment in information technology personnel and network infrastructure in support of our new subscription-based service offerings. In February 2009, we began offering third-party subscription rights to our proprietary online broker and client relationship management platform to companies whose business model will be enhanced by using a digital currency. Our fees include a one-time subscription fee in addition to a percentage of the gross merchandise value (GMV) of transactional activity hosted by the platform. As of July 31, 2010 we have a total of $264,000 of deferred revenue derived from web services reflected on our balance sheet,
Something that new, and that has a pipeline as long as a large-scale sale, but is generating 6% of total revenue for the company, is a great thing. And I was probably wrong. I wrote a long one last year about how I thought ITEX was bartering for a buyout, and that they were positioning themselves to be purchased by Super Media. I may have been wrong about it.
Here’s the link:
http://www.sec.gov/Archives/edgar/data/860518/000114420410054531/0001144204-10-054531-index.htm
