International Monetary Systems Receives Commitment for Additional Funding
Private Investors Pledge up to $1.2 million
New Berlin, Wis., March 20, 2006 -- International Monetary Systems, Ltd. (OTC BB: INLM), a worldwide leader in business-to-business barter services, today announced that it has received a commitment for an additional $1.2 million in funding from the same private investors who provided the company with more than $1 million last year. The company intends to use the proceeds to conclude the acquisitions of other strategically located trade exchanges.
Don Mardak, President and CEO of International Monetary Systems, commented: "With this additional funding in place, we hope to conclude some of the acquisitions that are currently under discussion. Our record revenues last year were primarily the result of five acquisitions made in 2005. These funds will also give us the ability to expand our national sales force, which should strengthen our new-client enrollment program and enhance our organic growth."
About International Monetary Systems
Founded in 1989, International Monetary Systems (IMS) serves more than 9,200 customers representing 14,000 cardholders in 32 U.S. markets. Based in New Berlin, Wis., IMS is one of the largest publicly traded barter companies in the world and is continually expanding its exchange locations. The company's proprietary transaction network enables businesses and individuals to trade goods and services throughout North America. Using an electronic currency known as trade dollars, IMS exchanges allow companies to create cost savings and to improve operations by taking advantage of barter opportunities in their business models. Managed by seasoned industry veterans, IMS is a recognized member of the National Association of Trade Exchanges (NATE) and International Reciprocal Trade Association (IRTA). Further information can be obtained at the company's Web site at: www.internationalmonetary.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including those statements pertaining to the potential creation of a trading market and to the beneficial consequences of growth through acquisitions. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "projects," or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. Unless otherwise required by applicable law, we do not undertake, and specifically disclaim any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
Contact:
International Monetary Systems, Ltd.
John Strabley, 800-559-8515
http://www.internationalmonetary.com
Source: International Monetary Systems, Ltd.
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