ITEX is a Great Buy at under $6 Message Board

To: Matthew Charles Lessley who wrote ()	3/7/1997 5:45:00 PM
From: John R Storey	of 623

<h1> Growth of Core Market </h1> A while ago I posted a financial analysis of this company as I understood it, and determined that the core market - less the contributions from the foreign contributor who is now disbanded - was on the order of $.01 per share. From there I determined that the stock, while approx. 1/3 backed by cash, and other favorable factors, was severly overvalued. Today I spoke with Jim Schilling (ITEX investor relations, (800) 800 - 0757.) Now this poor man has been answering lawsuit questions for quite some time and was no longer intimately familar with the numbers, but claims that the core market grew 120% from Q4 to Q1 alone. I'm going to revisit this issue this weekend, but before I do, does anyone see where he might be getting this from? If I find an error in my calculations, then great, ITEX is selling at a steep discount (as I believe ATC Communications is) and a good long term investment. That is exactly the situation I look for - severly down with short term problems, due to rise when they go away next year or sooner. Can anyone justify the 120% growth rate with numbers? Is anyone familar with the competitors to these guys? Thanks John Storey