CORRECTING and REPLACING International Monetary Systems Files 10-QSB.
Correction...by Business Wire
NEW BERLIN, Wis.--(BUSINESS WIRE)--Nov. 13, 2003
In BW5507 issued Nov. 13, 2003: 1st graph, 1st line should start with: International Monetary Systems, Ltd. (sted: Barter industry leader profitable in 3rd quarter, net revenue up 45%). The subhead sub·head
n. In both senses also called subheading.
1. The heading or title of a subdivision of a printed subject.
2. A subordinate heading or title.
Noun 1. was incorrectly placed in the lead paragraph.
The corrected release reads:
INTERNATIONAL MONETARY SYSTEMS FILES 10-QSB
Barter industry leader profitable in 3rd quarter, net revenue up 45%
International Monetary Systems, Ltd. (OTCBB OTCBB
See OTC Bulletin Board (OTCBB). :INLM), a worldwide leader in corporate and consumer barter services, today filed its third-quarter 10-QSB financial report, which showed a 45% increase in net revenue over the third quarter of 2002.
The company reported net revenue of $971,944 for the quarter ended September 30, 2003, compared to $668,782 for the same quarter of 2002. The revenue increase was attributed to internal growth of the company's Continental Trade Exchange barter network and the acquisition of BarterNet of Brentwood, Calif., and TradeMasters of Louisville, Ky. The company's income of $90,490, before depreciation charged on equipment of discontinued operations Discontinued operations
Divisions of a business that have been sold or written off and that no longer are maintained by the business. and extraordinary charges, compared favorably to income of $86,353 in the third quarter of 2002.
For the nine months ended September 30, 2003, the company's net income before depreciation and extraordinary charges reached $298,751 on gross revenues of $2,933,452.
Depreciation charged on the equipment still owned from the discontinued printing division and extraordinary expenses related to investor relations Investor relations
The process by which the corporation communicates with its investors. and consulting services reduced third-quarter net income to $5,321, compared to a net loss of $69,854 for the same period in 2002. Year-to-date, the company had a net loss of $57,087 compared to a loss of $181,343 for the same period of 2002.
For the quarter ending September 30, 2003, the company had an operating profit before interest, taxes, depreciation and amortization (EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become ) of $118,077, compared to an EBITDA last year of $13,215. EBITDA for the nine months ending on September 30, 2003 totaled $192,754.
About International Monetary Systems
Founded in 1989, International Monetary Systems (IMS (1) See IP Multimedia Subsystem.
(2) (Information Management System) An early IBM hierarchical DBMS for IBM mainframes. IMS was widely implemented throughout the 1970s under MVS and continues to be used under z/OS. ) (OTCBB:INLM) serves more than 6,500 customers in 16 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 companies and individuals to trade goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. 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 NATE National Association for the Teaching of English
NATE National Association of Tower Erectors
NATE North American Technician Excellence, Inc.
NATE National Association of Trade Exchanges (Mentor, OH) ) and the Barter Association National Currency (the BANC [French, Bench.] The location where a court customarily or permanently sits.
When a court is sitting in banc (or en banc), it means that a meeting or session of all the judges of a court is taking place. ). Further information can be obtained at the company's website at www.internationalmonetary.com.