Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  WESTERN SIZZLIN CORP
 2. Date of Event Requiring Statement (Month/Day/Year)
04/20/2012		 3. Issuer Name and Ticker or Trading Symbol
ITEX CORP [ITEX.OB]
(Last)
(First)
(Middle)
17802 IH 10 WEST, SUITE 400		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) __X__ Other (specify below)
See Explanation of Responses
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

SAN ANTONIO, TX 78257		 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock, par value $0.01 (1) 340,840
D (2)
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
WESTERN SIZZLIN CORP
17802 IH 10 WEST, SUITE 400
SAN ANTONIO, TX 78257		     X   See Explanation of Responses
BIGLARI HOLDINGS INC.
17802 IH 10 WEST, SUITE 400
SAN ANTONIO, TX 78257		     X   See Explanation of Responses
BIGLARI, SARDAR
17802 IH 10 WEST, SUITE 400
SAN ANTONIO, TX 78257		     X   See Explanation of Responses

Signatures

By: Western Sizzlin Corporation, By: /s/ Sardar Biglari, Chairman and Chief Executive Officer 04/24/2012
**Signature of Reporting Person Date
By: Biglari Holdings Inc., By: /s/ Sardar Biglari, Chairman and Chief Executive Officer 04/24/2012
**Signature of Reporting Person Date
By: /s/ Sardar Biglari 04/24/2012
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) This Form 3 is filed jointly by Sardar Biglari, Biglari Holdings Inc. ("BH") and Western Sizzlin Corporation ("WSC"). Each of Mr. Biglari, BH, and WSC is a member of a Section 13(d) group that owns more than 10% of the Issuer's outstanding Common Stock. Each of Mr. Biglari and BH disclaims beneficial ownership of the shares of Common Stock of the Issuer that he or it does not directly own.
(2) Shares owned directly by WSC. Mr. Biglari is the Chairman and Chief Executive Officer of each of BH and WSC and has investment discretion over the securities owned by WSC. WSC is a wholly-owned subsidiary of BH. By virtue of these relationships, BH and Sardar Biglari may be deemed to beneficially own the shares owned directly by WSC.

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