Two sweet momentum boosters for ITEX...
(Aside from that awesome chart and wonderfully strong close on the Friday before a late summer weekend)
Momentum booster No. 1:
Think about what ITEX CEO Steven White announced this month -- that ITEX had earned $1 million cash in just the first 19 days of August, a new record, and then he followed up by saying it's his goal to achieve not just $1 million in cash generated from ITEX hosted barter transactions every 19 days -- but a million bucks EVERY SINGLE DAY! Okay, not that it won't happen. But let's just say that Mr. White comes CLOSER to his stated goal in the near future by generating $1 million in ITEX cash revenue an average of every TEN days. (Conservative enough?)
Do the math with me:
365 days in fiscal year, divided by 10 = 36.5
36.5 X $1 million = $36.5 million cash revenue.
Based on recent SEC filings it appears about one third of transaction revenue that ITEX generates translates to NET INCOME. So, $36.5 million divided by 3 = $12.2 million in net income.
$12.2 in net income divided by 18.6 million shares = .64 cents net income per share.
That means that with an .80 share price, ITEX is currently trading, conservatively, at a forward-looking P.E. of 1.25 !!!
Can you say "undervalued"???!!!
Huge momentum booster factor No. 2:
The better ITEX stock does each day, including today, the more people that I, and other investors tell about the company for the first time (I just told my wife, neighbor and two co-workers about it this week). Thus, more people come to learn about how their cashless barter/transaction system works, increasing their word of mouth exposure nation- and worldwide, triggering more businesses and idividuals to learn about the benefits of ITEX and to sign on as new members, thereby increasing ITEX membership fees and per-day transaction revenue and enhancing ITEX's market leader status, improving their revenue producing ability eponentially!
Upside, upside, upside! Breakout, breakout, breakout!
Bought BRVO May at .19 ps, six-bagger.
Bought CXTI Aug. 8 at .65 ps, five-bagger
In ITEX at .68, _________ ?
