IMS Reports Record Year Of Achievement & Growth
Monetary Systems (OTCBB:INLM) recently filed its 2007 annual report
on Form 10-KSB.
2006, IMS acquired National Trade Association and its subsidiary
Illinois Trade Association, America's largest independent barter
network. Then in February 2007 it procured Alliance Barter, with
offices in Rochester (NY) and Toronto, Canada. Both acquisitions
have had a significant impact on 2007 operations, resulting in
increased trade volume, gross revenue, new-client enrollments and
operating profit, or EBITDA.
revenue enabled IMS to invest in an infrastructure that supported
and implemented critical Best Practices to create future organic
In 2006 and 2007 IMS
invested more than $700,000 in new computers, monitors, printers,
servers, and other equipment to enhance the efficiency of its trade
brokering and sales staffs.
In 2007 the company
invested more than $250,000 to acquire the source code for
TradeWorks, its proprietary trade dollar clearing system, and to
migrate the entire database from the original RPG format into a more
current .net technology.
web site is undergoing a facelift, toward the goal of creating a
fully interactive, web-based online marketplace. More than $200,000
has been spent on this project, with expected completion in spring
The company hired
additional technicians and programmers to integrate the new
hardware, to convert the clearing system software and to develop the
website. The IT department has been expanded to four full-time
IMS hired a full-time
national sales trainer and a full-time national broker trainer to
implement Best Practices for the Sales and Trade Brokering
The company doubled
the size of its Columbus (OH) office to expand its telemarketing and
tele-sales staff. As a result IMS enrolled more than 3,500 new
members during 2007.
In 2007 a full-time
marketing and public relations director was hired. She is working
with the IT staff to develop critical IT/Marketing efforts and
streamline the online experience for members and prospective
members. She is also developing a campaign to strengthen the IMS
brand in the marketplace.
In October the company
hosted the IMS Academy, the organization�s first national
convention/seminar, which was attended by 118 employees.
Throughout the year,
IMS hired additional sales staff to expand the base of National
Trade Association, its corporate barter division, resulting in the
enrollment of a number of high-profile businesses.
In spite of
these expenditures, many of which will not recur in 2008, IMS
produced positive cash flow of nearly $1 million, and operating
profit (EBITDA) of over $1.3 million in 2007. However, the company
experienced a net loss of $414,290, comparable to that in 2006.
During 2007 IMS
processed more than $114 million in trade transactions, compared to
$72 million in 2006, an increase of 58% (reporting just one side of
each transaction). This generated gross revenue of $14,772,045 for
the year, compared to $8,782,666 in 2006, an increase of 68%.
increased from $8,857,798 in 2006 to $14,945,745 for the year ended
December 31, 2007, a 68% increase (comparable to the increase in
Net cash flow
from operations totaled $945,111 in 2007, compared to $871,631 in
2006. Operating profit or EBITDA (earnings before interest, taxes,
depreciation and amortization) totaled $1,375,839 an increase of
nearly 23 % over the EBITDA of $1,120,993 recorded in 2006.
also has an option to purchase New York Commerce Group in 2008, and
with that exception, there are no other purchase obligations.
However, the firm will continue to seek opportunities to acquire
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