Annual Report Outlines Achievements, Growth
Monetary Systems (OTCBB:INLM), one of the largest publicly traded
barter companies in the world, continues to expand its
locations...serving more than 16,000 customers (24,000 cardholders)
in 44 markets across North America.
In their 2006
annual report they reported the processing of more than $72 million
in sales-only trade transactions. Revenue generated from these
transactions totaled $8,782,666, an increase of 42%. IMS also
acquired five trade exchanges, including North America’s largest
independent barter system, Illinois Trade Association, along with
its corporate barter division National Trade Association.
nearly doubled, increasing by 92% and book value nearly tripled,
increasing by 271%. This was due to $4 million in equity investments
from a hedge fund, which was used to finance the five acquisitions
and retire long-term debt with financial institutions.
dramatic increases in gross revenue, operating income and operating
cash flows, IMS still experienced a net loss. This was chiefly due
to non-cash adjustments for depreciation, amortization, and partial
impairment of membership lists in specific markets.
incurred significant income tax expense despite the net loss,
primarily due to the difference in accounting and tax treatments of
intangible assets and goodwill.
information on IMS go to