Item is a nil value (pointshop)

[Imbadatoot]

So i am trying to code a weapon (banana) for the pointshop
code:
[lua]ITEM.Name = "Banana"
ITEM.Price = 20000
ITEM.Model = 'models/weapons/w_banana.mdl'
ITEM.WeaponClass = 'lua/weapons/weapon_banana.lua'
ITEM.SingleUse = false

function ITEM:OnBuy(ply)
ply:Give(self.WeaponClass)
ply:SelectWeapon(self.WeaponClass)
end

function ITEM:OnSell(ply)
ply:StripWeapon(self.WeaponClass)
end

function ITEM:OnEquip(ply)
ply:Give(self.WeaponClass)
ply:SelectWeapon(self.WeaponClass)
end

function ITEM:OnHolster(ply)
ply:StripWeapon(self.WeaponClass)
end

local function PlayerLoadout( ply )
ply:Give(self.WeaponClass)
end[/lua]
for some reason when run it gives this error:

[ERROR] addons/pointshop-master/lua/pointshop/items/weapons/banana.lua:1: attempt to index global 'ITEM' (a nil value)
  1. unknown - addons/pointshop-master/lua/pointshop/items/weapons/banana.lua:1

[King Penisless]

Try adding
[lua]ITEM = {}[/lua]
at the top