IMS Debt Converted To Equity
International Monetary Systems (OCTBB:INLM)
announced that a private investor, 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, with additional notes expected to be converted this year.
In discussing this transaction,
CEO Don Mardak commented, “We are grateful to this investor and the
others who have demonstrated their faith in the future of IMS. Their
initial investments were the driving force behind our ability to
acquire strategic trade exchanges that are now contributing to our
substantial revenue growth.
“IMS,” he continued, “has retired
all of its bank debt, it is about to make the last payments on loans
from officers, and has increased its book value by more than $6
million since April 2006.”
For more information on IMS go to
www.internationalmonetary.com.
