ITEX is splashing in to the world of software with their Virtual Currency System. No doubt, they want to appeal to entrepreneurs looking to start a barter exchange or virtual currency like bitcoin that don’t want to buy a franchise. It’s probably a smart idea too. Probably. So far they’ve announced they’re now accepting Bitcoin […]
ITEX announced at the 26th Annual Roth Capital Conference at the Ritz-Carlton in Dana Point, California, it is offering licenses for its cloud-hosted virtual currency software platform to businesses and entrepreneurs worldwide. ITEX utilizes the platform to power its own b2b business model and virtual currency, the ITEX dollar. VCS is offering the hosted operating system […]
Both IMS and ITEX posted decreases in third quarter revenue over revenue generated in 2012 during that same period. ITEX reports an 8% drop in income, a 31% decrease in income from operations, and a 29% drop in net income. IMS reports a 5% drop in income, a whopping 60% drop in income from operations, […]
A group of shareholders going by the name the Polonitza Group has filed a lawsuit in Washington State Court alleging suppression of shareholder’s rights, creation of a “poison pill” which restricts shareholder groups from acquiring more than 15% of common stock, and more. The suit has been filed against ITEX CEO Steven White, Eric Best, […]
I found a link to a site that offers free Quickbooks advice. It had this to say about recording a barter transaction. Recording of Barter ExchangesIf you have customers who are also vendors you may decide to trade some or all of your services / products in exchange for payment. To record such a barter […]
There are many ways barter can be used to renovate or restore a home. You can use barter to purchase building materials and hire contractors. Many suppliers such as tile, carpet and stone companies have huge excess inventories or items that have gone unsold. They would welcome the opportunity to get full value for the […]
Most businesses suffer from the issue of bad debts (accounts receivable that will most likely remain uncollectible and will be written off). These debts appear as an expense on the company’s income statement, thus reducing net income and most companies make a bad debt allowance since it is unlikely that all of their debtors will pay them in full. (more…)