IMS Enacts Reverse Stock-Split To Re-energize Stock
International Monetary Systems (OTCBB:ITNM - a new symbol), a
worldwide leader in business-to-business barter services, recently
enacted a one-for-six reverse stock split...effective Friday, August
7, 2009.
In discussing reasons for this action, CEO Don Mardak stated, “It
has always been the goal of IMS to be listed on the American Stock
Exchange or NASDAQ. Management believes that this stock split will
be a major step toward that goal.
“We also feel that our company and its share price have been highly
undervalued for many months. At the current pricing level, ITNM
shares are trading at less than our book value and at less than
one-half of our net revenue.
“The past two quarters have shown marked improvement in our
financial statements, as cash flow has been steadily rising, while
debts have been reduced through share buybacks and other loan
reductions. The time is right for us to make this move, so that more
of the investing public has an opportunity to see what our company
is accomplishing and the great value that IMS shares represent.”
The recent financial improvements are a result of
hundreds-of-thousands of dollars spent on infrastructure last year,
as well as numerous cost-cutting measures that were enacted
recently.
Among these are a partnership with AT&T to consolidate
telecommunications throughout all IMS offices, plus the
implementation of a four-year life cycle on all Microsoft
Windows-based computers. In addition, the company has continued the
process of reducing payroll and other expenses with no significant
loss in revenue.
For more information go to
www.imsbarter.com.
