-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, GOxQfz4WZS+iVdh+jLLgSTC7/LTrnOZVyVNrCn9mnKBwCukg3cTN1bQuuykQGG3x 6F+aM8+Od6xtVNgDVg9w+Q== 0001169232-07-004063.txt : 20071101 0001169232-07-004063.hdr.sgml : 20071101 20071031174233 ACCESSION NUMBER: 0001169232-07-004063 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20071101 DATE AS OF CHANGE: 20071031 GROUP MEMBERS: DAVID LIN GROUP MEMBERS: JONATHAN POLONITZA GROUP MEMBERS: KIRK ANDERSON GROUP MEMBERS: PAUL KIM GROUP MEMBERS: REBECKA POLONITZA JT TEN GROUP MEMBERS: RICHARD AND GRETA POLONITZA JT TEN FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Polonitza David CENTRAL INDEX KEY: 0001385152 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: BUSINESS PHONE: 502-460-3141 MAIL ADDRESS: STREET 1: 2550 NELSONVILLE ROAD CITY: BOSTON STATE: KY ZIP: 40107 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ITEX CORP CENTRAL INDEX KEY: 0000860518 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 930922994 STATE OF INCORPORATION: NV FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-42668 FILM NUMBER: 071203915 BUSINESS ADDRESS: STREET 1: 3326 160TH AVE SE STREET 2: SUITE 100 CITY: BELLEVUE STATE: WA ZIP: 98008-6418 BUSINESS PHONE: 425-463-4000 MAIL ADDRESS: STREET 1: 3326 160TH AVE SE STREET 2: SUITE 100 CITY: BELLEVUE STATE: WA ZIP: 98008-6418 FORMER COMPANY: FORMER CONFORMED NAME: ITEX CORPORATION DATE OF NAME CHANGE: 19930328 FORMER COMPANY: FORMER CONFORMED NAME: ITEX BARTER SYSTEMS INC DATE OF NAME CHANGE: 19600201 SC 13G 1 d72890_sc13g.txt INITIA STATEMENT OF ACQUISITION OF BENEFICIAL OWNERSHIP BY CERTAIN PERSONS. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No._____)* ITEX CORPORATION -------------------------------- (Name of Issuer) COMMON STOCK, PAR VALUE $.01 PER SHARE --------------------------------------- (Title of Class of Securities) 465647204 --------- (CUSIP Number) OCTOBER 31, 2007 ---------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [_] Rule 13d-1(b) [X] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the reminder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP NO. 465647204 Schedule 13G Page 2 of 11 - -------------------------------------------------------------------------------- 1. Name of Reporting Person S.S. or I.R.S. Identifica- tion No. of Above Person David and Rebecka Polonitza Jt Ten - -------------------------------------------------------------------------------- 2. Check the Appropriate Box (a) [X] if a Member of a Group (b) [_] - -------------------------------------------------------------------------------- 3. S.E.C. Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization United States of America - -------------------------------------------------------------------------------- Number of Shares (5) Sole Voting Power 478,300 Beneficially (6) Shared Voting Power 0 Owned by Each (7) Sole Dispositive Power 478,300 Reporting Person (8) Shared Dispositive Power 0 - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 478,300 - -------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares [_] - -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row 9 2.7% - -------------------------------------------------------------------------------- 12. Type of Reporting Person IN - -------------------------------------------------------------------------------- CUSIP NO. 465647204 Schedule 13G Page 3 of 11 - -------------------------------------------------------------------------------- 1. Name of Reporting Person S.S. or I.R.S. Identifica- tion No. of Above Person Kirk Anderson - -------------------------------------------------------------------------------- 2. Check the Appropriate Box (a) [X] if a Member of a Group (b) [_] - -------------------------------------------------------------------------------- 3. S.E.C. Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization United States of America - -------------------------------------------------------------------------------- Number of Shares (5) Sole Voting Power 277,000 Beneficially (6) Shared Voting Power 0 Owned by Each (7) Sole Dispositive Power 277,000 Reporting Person (8) Shared Dispositive Power 0 - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 277,000 - -------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares [_] - ------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row 9 1.5% - -------------------------------------------------------------------------------- 12. Type of Reporting Person IN - -------------------------------------------------------------------------------- CUSIP NO. 465647204 Schedule 13G Page 4 of 11 - -------------------------------------------------------------------------------- 1. Name of Reporting Person S.S. or I.R.S. Identifica- tion No. of Above Person David Lin - -------------------------------------------------------------------------------- 2. Check the Appropriate Box (a) [X] if a Member of a Group (b) [_] - -------------------------------------------------------------------------------- 3. S.E.C. Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization United States of America - -------------------------------------------------------------------------------- Number of Shares (5) Sole Voting Power 99,700 Beneficially (6) Shared Voting Power 0 Owned by Each (7) Sole Dispositive Power 99,700 Reporting Person (8) Shared Dispositive Power 0 - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 99,700 - -------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares [_] - ------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row 9 0.6% - -------------------------------------------------------------------------------- 12. Type of Reporting Person IN - -------------------------------------------------------------------------------- CUSIP NO. 465647204 Schedule 13G Page 5 of 11 - -------------------------------------------------------------------------------- 1. Name of Reporting Person S.S. or I.R.S. Identifica- tion No. of Above Person Richard and Greta Polonitza Jt Ten - -------------------------------------------------------------------------------- 2. Check the Appropriate Box (a) [X] if a Member of a Group (b) [_] - -------------------------------------------------------------------------------- 3. S.E.C. Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization United States of America - -------------------------------------------------------------------------------- Number of Shares (5) Sole Voting Power 18,000 Beneficially (6) Shared Voting Power 0 Owned by Each (7) Sole Dispositive Power 18,000 Reporting Person (8) Shared Dispositive Power 0 - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 18,000 - -------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares [_] - -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row 9 0.1% - -------------------------------------------------------------------------------- 12. Type of Reporting Person IN - -------------------------------------------------------------------------------- CUSIP NO. 465647204 Schedule 13G Page 6 of 11 - -------------------------------------------------------------------------------- 1. Name of Reporting Person S.S. or I.R.S. Identifica- tion No. of Above Person Jonathan Polonitza - -------------------------------------------------------------------------------- 2. Check the Appropriate Box (a) [X] if a Member of a Group (b) [_] - -------------------------------------------------------------------------------- 3. S.E.C. Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization United States of America - -------------------------------------------------------------------------------- Number of Shares (5) Sole Voting Power 12,800 Beneficially (6) Shared Voting Power 0 Owned by Each (7) Sole Dispositive Power 12,800 Reporting Person (8) Shared Dispositive Power 0 - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 12,800 - -------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares [_] - -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row 9 Less than 0.1% - -------------------------------------------------------------------------------- 12. Type of Reporting Person IN - -------------------------------------------------------------------------------- CUSIP NO. 465647204 Schedule 13G Page 7 of 11 - -------------------------------------------------------------------------------- 1. Name of Reporting Person S.S. or I.R.S. Identifica- tion No. of Above Person Paul Kim - -------------------------------------------------------------------------------- 2. Check the Appropriate Box (a) [X] if a Member of a Group (b) [_] - -------------------------------------------------------------------------------- 3. S.E.C. Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization United States of America - -------------------------------------------------------------------------------- Number of Shares (5) Sole Voting Power 11,000 Beneficially (6) Shared Voting Power 0 Owned by Each (7) Sole Dispositive Power 11,000 Reporting Person (8) Shared Dispositive Power 0 - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 11,000 - -------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares [_] - -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row 9 Less than 0.1% - -------------------------------------------------------------------------------- 12. Type of Reporting Person IN - -------------------------------------------------------------------------------- CUSIP NO. 465647204 Schedule 13G Page 8 of 11 Item 1. (a) NAME OF ISSUER ITEX CORPORATION (b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES 3326 160TH AVE SE SUITE 100 BELLEVUE WA 98008 Item 2. (a) NAMES OF PERSONS FILING (i) David and Rebecka Polonitza Jt Ten (ii) Kirk Anderson (iii) David Lin (iv) Richard & Greta Polonitza Jt Ten (v) Jonathan Polonitza (vi) Paul Kim (b) ADDRESS OF PRINCIPAL BUSINESS OFFICE 2550 Nelsonville Road Boston, KY 40107 (c) CITIZENSHIP Each person filing this statement on Schedule 13G is a citizen of the United States. (d) TITLE OF CLASS OF SECURITIES Common Stock, par value $.01 per share (the "Common Stock"). (e) CUSIP NUMBER 465647204 Item 3. Not Applicable. CUSIP NO. 465647204 Schedule 13G Page 9 of 11 Item 4. OWNERSHIP. Set forth below is the aggregate number of shares of Common Stock, held as of the date hereof by each of the following, together with the percentage of the outstanding shares of Common Stock that such number represents based upon 17,726,248 shares outstanding as reported on the company's SEC Form DEF 14A filed on October 30, 2007. Name Number of Shares Percentage of Class Outstanding David Polonitza 478,300 2.7% Kirk Anderson 277,000 1.5% David Lin 99,700 0.6% Richard Polonitza 18,000 0.1% Jonathan Polonitza 12,800 Less than 0.1% Paul Kim 11,000 Less than 0.1% Total 896,800 5.0% Mr. David Polonitza, Mr. Kirk Anderson, Mr. David Lin, Mr. Richard Polonitza, Mr. Jonathan Polonitza, and Mr. Paul Kim have verbally agreed and intend to vote any proxies or act on any shareholder matters as one group. No member of the group has the power or right to vote or dispose of the shares of any other member of the group. Item 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS Not applicable. Item 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON Not applicable. Item 7. IDENTIFICATION AND CLASSIFICATION OF SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY Not applicable. Item 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP See Item 2. Item 9. NOTICE OF DISSOLUTION OF GROUP Not applicable. CUSIP NO. 465647204 Schedule 13G Page 10 of 11 Item 10. CERTIFICATION By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated as of October 31, 2007 By: /s/ David Polonitza ------------------------------- Name: David Polonitza By: /s/ Kirk Anderson ------------------------------- Name: Kirk Anderson By: /s/ David Lin ------------------------------- Name: David Lin By: /s/ Richard Polonitza ------------------------------- Name: Richard Polonitza By: /s/ Jonathan Polonitza ------------------------------- Name: Jonathan Polonitza By: /s/ Paul Kim ------------------------------- Name: Paul Kim CUSIP NO. 465647204 Schedule 13G Page 11 of 11 EXHIBIT A JOINT FILING AGREEMENT The undersigned hereby agree that the statement on Schedule 13G with respect to the Common Stock of ITEX Corporation dated as of October 31, 2007, and any amendments thereto signed by each of the undersigned, shall be filed on behalf of the undersigned pursuant to and in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended. Dated: October 31, 2007 By: /s/ David Polonitza ------------------------------- Name: David Polonitza By: /s/ Kirk Anderson ------------------------------- Name: Kirk Anderson By: /s/ David Lin ------------------------------- Name: David Lin By: /s/ Richard Polonitza ------------------------------- Name: Richard Polonitza By: /s/ Jonathan Polonitza ------------------------------- Name: Jonathan Polonitza By: /s/ Paul Kim ------------------------------- Name: Paul Kim -----END PRIVACY-ENHANCED MESSAGE-----