-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Rx/zKB2E65f3rCxC0f9s/qQZe5lcp8OPg2++eSMea2NvwQ06VZKTr62nj7F6r/c5
 iIyN4vu7Eecf6ZgWrZGr9Q==

<SEC-DOCUMENT>0001140361-06-009293.txt : 20060616
<SEC-HEADER>0001140361-06-009293.hdr.sgml : 20060616
<ACCEPTANCE-DATETIME>20060616182108
ACCESSION NUMBER:		0001140361-06-009293
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060615
FILED AS OF DATE:		20060616
DATE AS OF CHANGE:		20060616

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			FONG HENRY
		CENTRAL INDEX KEY:			0000864019

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-12374
		FILM NUMBER:		06911277

	BUSINESS ADDRESS:	
		STREET 1:		7315 E PEAKVIEW AVE BLDG 8
		STREET 2:		GREENWOOD EXECUTIVE PARK
		CITY:			ENGLEWOOD
		STATE:			CO
		ZIP:			80111
		BUSINESS PHONE:		3037968940

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EQUITEX INC
		CENTRAL INDEX KEY:			0000716101
		STANDARD INDUSTRIAL CLASSIFICATION:	MORTGAGE BANKERS & LOAN CORRESPONDENTS [6162]
		IRS NUMBER:				840905189
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		7315 E PEAKVIEW AVE
		STREET 2:		GREENWOOD EXECUTIVE PARK BLDG 8
		CITY:			ENGLEWOOD
		STATE:			CO
		ZIP:			80111
		BUSINESS PHONE:		3037968940

	MAIL ADDRESS:	
		STREET 1:		7315 EAST PEAKVIEW AVENUE
		CITY:			ENGLEWOOD
		STATE:			CO
		ZIP:			80111-6701
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc1.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-06-15</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000716101</issuerCik>
        <issuerName>EQUITEX INC</issuerName>
        <issuerTradingSymbol>EQTX</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000864019</rptOwnerCik>
            <rptOwnerName>FONG HENRY</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>7315 E PEAKVIEW AVE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>ENGLEWOOD</rptOwnerCity>
            <rptOwnerState>CO</rptOwnerState>
            <rptOwnerZipCode>80111</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>PRESIDENT</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>$.01 PAR VALUE COMMON STOCK</value>
            </securityTitle>
            <transactionDate>
                <value>2006-06-15</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>3500</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>2.90</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>238332</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>STOCK OPTION</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>6.18</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2003-06-20</value>
            </exerciseDate>
            <expirationDate>
                <value>2008-06-20</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>COMMON STOCK</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>54667</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>54667</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>STOCK OPTION</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>5.10</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2004-07-14</value>
            </exerciseDate>
            <expirationDate>
                <value>2009-07-14</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>COMMON STOCK</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>75000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>75000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">INCLUDES SHARES OWNED BY A CORPORATION IN WHICH REPORTING PERSON IS AN OFFICER, DIRECTOR AND MAJORITY STOCKHOLDER.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>HENRY FONG</signatureName>
        <signatureDate>2006-06-16</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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