IMS Files Second Quarter Report
International Monetary Systems (OTCBB:INLM) has unveiled its Form
10-Q report for the second quarter of 2008. During the three months
ended June 30, the firm processed more than $29 million in trade
transactions, compared to $27 million in the same quarter in
2007...an increase of over 7%. The $29 million trade volume
generated gross revenues of $3.5 million, compared to revenue of
$3.4 million in last year’s second quarter...an increase of 3.5%.
Total expenses increased 5.5% from $3.5 million in the second
quarter of 2007 to $3.7 million in the current period. The increased
expenses were attributable to the continued high cost of new-member
enrollments, plus higher non-cash charges for depreciation,
amortization of membership lists, and stock issued for services.
In spite of higher revenues, IMS had a net loss from operations of
$161,020 in this year’s quarter, compared to a loss from operations
of $86,859 during last year’s second quarter. After adjusting for
interest expense and the income tax benefit, the net loss for the
current period was $64,193, nearly the same as the $64,090 for last
year’s second quarter.
During this year’s second quarter, IMS generated gross revenue of
$7.0 million compared to $6.7 million last year...an increase of
5.0%. Total expenses increased from $6.8 million last year to $7.5
million this year during the same quarter. The net loss from
operations was $470,289 for the first six months of 2008, compared
to a loss of $135,516 for the same period last year.
Further details in the Form 10-Q document can be accessed at
www.sec.gov.
For more information on IMS go to
www.imsbarter.com
