International Monetary Systems Receives Equity Investment
International
Monetary Systems (OTCBB:INLM) reported that its major investor,
Praetorian Offshore, has exercised 550,000 warrants at a price of
$0.55, providing IMS with an additional $302,500 of invested
capital.
The company
plans to use the funds as working capital for their concentrated
efforts in expanding the IMS barter network with new members,
continued establishment of best practices, and further
infrastructure improvements and upgrades.
Don Mardak, CEO
of IMS, commented, “We are grateful for the confidence that
Praetorian Offshore continues to place in our company. (This past
year was one) of historic growth for IMS. We instituted a series of
best practices that supported our record membership growth, we
increased trading across all of our markets, and we strengthened our
internal team. We intend to continue and also add to these successes
in 2008.”
Kansas
Trade Exchange Acquired
The New Berlin
(WI)-based IMS said Thursday that it is purchasing the assets and
client base of Kansas Trade Exchange, of Wichita (KS). The
commercial barter services company expects to close the transaction
September 30.
The business
deal will extend IMS’s reach into south-central Kansas, and add
clients to the approximately 17,000 customers in 47 markets in North
America. CEO Don Mardak said the acquisition is expected to
strengthen its product offerings and boost revenue and profits.
For more
information see
www.imsbarter.com.
