SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report: December 9, 1996
ITEX CORPORATION
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(Exact name of registrant as specified in its charter)
NEVADA 0-18275 93-02292994
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(State or other (Commission (I.R.S. Employer
jurisdiction File Numbe Identification No.)
of incorporation)
10300 S.W. Greenburg Road, Suite 370 Portland, Oregon 97223
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (503) 244-4673
(Former name or address, if changed since last report.)
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ITEM 5. Other Events
ITEX Corporation, a Nevada corporation (the "Company"), operates on a
July 31 fiscal year end. In addition, based upon its accounting practices in
connection with the operation of the ITEX Retail Trade Exchange, the Company
operates on four week accounting cycles rather than monthly cycles. For this
reason, the Company operates for three twelve week fiscal quarters and one 16
week fiscal quarter.
In past years, the Company has elected to make its final fiscal quarter
the sixteen week quarter. In order to better space the reporting of financial
information to the public, the Company has elected to treat its first fiscal
quarter as a sixteen week quarter and its second, third and fourth fiscal
quarters as twelve week quarters.
Thus, for the fiscal year August 1, 1996 through July 31, 1997, the
first fiscal quarter ended November 20, 1996 rather than October 23, 1996. Under
the new quarter designations, the second fiscal quarter will end February 12,
1997 and the third fiscal quarter will end May 7, 1997.
Signatures
Pursuant to the requirements of the Securities Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated this 9th day of December, 1996
ITEX Corporation
By: /s/ Graham H. Norris, Sr
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Graham H. Norris, Sr.
Title: President and Chief Executive Officer
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