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: July 23, 1998
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 Number) Identification No.)
of incorporation)
10300 S.W. Greenburg Road, Portland, Oregon 97223
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (503) 244-4673
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(Former name or address, if changed since last report.)
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ITEM 2. Other Events
On April 17, 1998, ITEX Corporation (the "Company") filed a Form 8-K reporting
the closing of a sale of 53,500 shares of Series A Convertible Preferred Stock
("Series A Preferred Stock") in a non-registered private placement pursuant to
Regulation S under the Securities Act of 1933, as amended.
Pursuant to the terms of conversion of the Series A Preferred Stock, all 53,500
shares of that stock (100%) have been converted into common stock as of July 21,
1998. A total of 3,612,000 shares of common stock were issued in conversion of
the Series A Preferred Stock. As of this date 11,285,000 shares of the Company's
common stock are issued and outstanding.
ITEM 7. Financial Statements and Exhibits
None
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated this 23rd day of July, 1998.
ITEX Corporation
By: /s/ Graham H. Norris
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Graham H. Norris
Title: President & Chief Executive Officer
