NEW BERLIN, Wis.–(BUSINESS WIRE)–International Monetary Systems, Ltd. (OTCBB:INLM), a worldwide leader in business-to-business barter services, today announced that a private investor who was holding a $200,000 convertible note has completed the conversion of his position to equity. This brings the total of such notes converted to $700,000 since March of 2007. The company expects additional notes to be converted later this year.
In discussing this transaction, Don Mardak, IMS President and CEO, commented: “We are grateful to this investor and the others who have demonstrated their faith in the future of International Monetary Systems. Their initial investments were the driving force behind our ability to acquire strategic trade exchanges that are now contributing to our substantial revenue growth.”
Mardak continued, “IMS has retired all of its bank debt, is about to make the last payments on loans from officers, and – since April of 2006 – has increased its book value by more than $6 million.”
About International Monetary Systems
Founded in 1985, International Monetary Systems (IMS) serves more than 16,300 customers representing 24,000 cardholders in 44 U.S. markets. Based in New Berlin, Wis., IMS is one of the largest publicly traded barter companies in the world and is continually expanding its exchange locations. The company’s proprietary transaction network enables businesses and individuals to trade goods and services throughout North America. Using an electronic currency known as trade dollars, IMS exchanges allow companies to create cost savings and to improve operations by taking advantage of barter opportunities in their business models. Managed by seasoned industry veterans, IMS is a recognized member of the National Association of Trade Exchanges (NATE) and the International Reciprocal Trade Association (IRTA). Further information can be obtained at the company’s Web site at: www.internationalmonetary.com.