Record Month For International Monetary Systems
International
Monetary Systems (OTCBB:INLM), a worldwide leader in
business-to-business barter services, today announced sales volume
and revenue figures for November. The month produced the company's
highest trade volume and revenue totals in its history, along with
very strong new-client enrollments.
The November
2007 results are:
� Trade volume
for the month exceeded $12.8 million. This represented an increase
of 15% over the trade volume of $11.1 million generated in November
of 2006. (IMS trade volume is reported from the sales-only side of
transactions.)
� Gross
revenue billed totaled $1.5 million, compared to $1.2 for November
of last year, a 25% increase. Some of the increased volume can be
attributed to the success of the company's holiday barter expos and
trade shows.
� New-client
enrollments were especially strong with 317 new members joining the
barter network in November of 2007. This represented an increase of
62% over the 195 new members signed up the previous November.
The totals
listed above are taken from the company's internal records and have
not been audited.
For a look at
IMS�s most recent quarterly earnings
click here.
Further
information can be obtained at the company's web site,
www.internationalmonetary.com.
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ITEX Announces First Quarter Results Of Fiscal 2008
ITEX
Corporation (OTCBB: ITEX), a leading marketplace for cashless
business transactions in North America, has filed its Form 10-QSB
with the Securities and Exchange Commission and announced results
for its fiscal 2008 first quarter ended October 31, 2007.
Revenue for
the 2008 first quarter increased by 2% over the same quarter in the
prior year, in which ITEX reported $357,000 of unique conversion
revenue from former BXI members who had changed fee plans. Without
the one-time conversion revenue in 2006, revenue would have
reflected an increase of $420,000, or 12% over the comparable 2006
quarter. Organic growth from existing operations contributed $92,000
to this revenue increase.
Included in
the recent financial statements is $21,000 in ITEX dollar
transactions that met non-monetary recognition criteria of
Accounting Principle Board 29. In past periods, ITEX dollar
transactions did not impact these statements because it was
determined they did not meet non-monetary recognition criteria or
were not material.
Steven White,
Chairman and CEO, stated, �Comparing year over year quarters and
excluding the one-time conversion revenue in last year's first
quarter, our income from operations increased 28%. Our fiscal 2008
first quarter results also included acquisition costs for our
Intagio transaction. Overall, I'm quite pleased with the results for
this quarter.
�More good
news to report is that our acquisition of Intagio members in August
2007 contributed $287,000 in revenue this quarter. Despite a few
challenges during the transition, we are very satisfied with the
early results of the acquisition. Of the six Intagio regions
acquired, three regions were sold in the first quarter and we
retained three to operate as corporate-owned or prototype offices.
�Within our
prototype offices, we are able to implement new commission
structures, test new support fees and pursue other strategies to
increase revenues and better serve members. We have focused on
organic growth and are pleased to see traction in our revenue growth
strategies. Further, new member registrations for the quarter were
823 compared to 669 in the comparable period for the previous year,
representing a 23% increase.
�Everything
considered,� White reflected, �this was a strong quarter. If we
adjust for acquisition costs and one-time conversions, our revenue
and income from operations this quarter had impressive gains over
last year's numbers. We exhibited some ITEX dollar revenue and
expenses in our financial statements this quarter. Though the amount
of these transactions is less than one percent of our total revenue
for the quarter, we clearly identified and disclosed the amount of
revenue and expense generated by these ITEX dollar transactions on
our income statement.
�Considerable
time and effort was devoted this quarter to the integration of the
Intagio members. The integration is now completed; our new
corporate-owned offices and our broker network is geared up for our
busy holiday season,� he concluded.
First Quarter 2008 Highlights:
�
Revenue was
$3,853,000.
�
Intagio acquisition
added $287,000 in revenue.
�
Income from
operations totaled $272,000.
�
Net cash provided by
operations was $767,000.
�
Total assets were
$15,290,000.
�
202,384 common shares
were repurchased and canceled.
�
$1,000,000 credit
line was renewed.
�
Qualified ITEX dollar
transactions were reflected in our financial statements.
ITEX
Corporation's report on Form 10-QSB can be found at
www.sec.gov.
In our next
Tuesday Report, January 1, we will publish comments from ITEX CEO
Steve White revealing his outlook for 2008.
Barter Utilized At The Highest Business Levels
Tamouh, the
pioneering real estate developer, joined public and private sector
entities from the international community at the recently held UAE-France
Partnership Forum 2007 in Paris.
The trade
exhibition came about as a result of the need for a barter agreement
between the two nations, as trade between the UAE and France has
increased steadily over the past ten years. The event served as a
platform for local business drivers to stimulate Emirati economic
growth and encourage bilateral trade with France through the
promotion of products and services from a variety of companies in
the public and private sectors.
The
Partnership Forum is a key point for the UAE and France to come
together for mutual cooperation and economic benefit through an open
discussion on exchange between the two nations. In its position as
the sixth largest economy in the world, France remains a key ally to
the UAE. With the strong history of business partnerships between
the two nations, the G8 member continues to contribute to the global
trade presence of the UAE.
Commenting on
the exhibition, Joe Ong, CEO of Tamouh, said, �As an Abu Dhabi-based
real estate developer it is essential that Tamouh participate in
discussions such as the UAE-France Partnership Forum. Through the
Forum, Tamouh and other business entities will benefit from new
industry partnerships and investment opportunities on both local and
international arenas.�
Tamouh is the
primary developer of Al Reem Island, with key projects such as
Marina Square and City of Lights comprising 60% of the development.
The Abu Dhabi-based company is also responsible for Fantasy Island,
Meena Plaza, the Royal Group Headquarters, and two blocks of the
multipurpose project Danet Gateway.
Personalized Phone Service Beats Automation
I recently
spent some time with Mike Ames, founder of TradeAmericanCard. He has
been in barter business for 35 years and is adamant about the need
to have the company�s telephone answered by a live person, just as
they did when he opened his doors. �Our whole objective is to serve
our clients, and the best way to so is by listening and interacting
with them,� he affirmed.
So it is not
surprising to find, that according to a survey by NC-based
Yankelovich, Americans are suffering customer-service meltdown.
What consumers
hate most of all is the way most businesses try to help: When using
automated phone trees, for instance, 92% say they have tried to
circumvent an automated phone tree to find a real person, futilely
jabbing at the zero and pound sign. And 58%, when verbally prompted,
will say agent or representative.
That means the
majority of people don�t like automated phone service. These
behaviors are further evidence that consumers feel themselves in an
increasingly adversarial role with marketers, and that they need to
outwit the company in order to get the information they want.
Overwhelmingly, what they want is a person with an excellent command
of English. About eight in 10 consumers feel it is important to have
the ability to talk to a live company representative�27% say they
would even be willing to pay for the privilege.
�And,
quantifying consumer resistance to the trend of off-shoring
corporate call centers to India and China, nearly three quarters
(71%) say having customer-service representatives based in the U.S.
is important, with 25% willing to pay more for this,� Yankelovich
says.
Yankelovich
suggests that companies customize customer service, since the canned
scripts so many companies use also turn consumers off. And what do
people do when they perceive an incompetent customer service policy?
Most go out and complain, telling friends and relatives what they
think about the company.
Editor�s
note:
TradeAmericanCard has assisted thousands of companies over the three
decades in the industry, including Money Mailer in its early days.
To read about it
click here.
Hotel
General Managers
Work With Audio/Visual
Vendor On Barter
Collect cash, as usual, from the guest accounts staying at
your facility that require the use of professional AV
services. And rather than shouldering your ongoing employee
costs, or your current vendor�s cash agreement for AV
services, here�s a much better alternative:
Work with a proven national vendor (a sterling 25-year track
record) who will provide all of the AV services for your
hotel on a 100% TRADE BASIS! (Payment to be in the form of
trade dollars.)
Your hotel�s annual AV billings must be a minimum of
$200,000, and this offer is available only in the
continental United States.
For a confidential introduction contact Bob Meyer via
e-mail:
bmeyer@barternews.com.
Attention Trade Exchange Owners:
If your member hotel(s) have a minimum of 10,000 sq. feet of
meeting space and annual billings of at least $200,000 for
AV services this is a great opportunity to earn substantial
cash service fees on the hundreds of thousands of trade
dollars your hotel member will be paying the vendor. Contact
Bob Meyer at the above e-mail. |
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The Growth and Use of Secondary Capital (New Money) Creates
Unprecedented Wealth In Today�s New Age Of Possibility
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