By Sheri Kasprzak
New York, May 11 - International Monetary Systems, Ltd. has pocketed another $3,213,750 from a private placement with Praetorian Offshore Ltd.
Praetorian bought 7.5 million shares at $0.4285 each.
The investor also received warrants for 3.5 million shares, exercisable at $0.55 each.
On April 11, the company issued 2.7 million shares at $0.37037 each to Praetorian for $1 million in proceeds.
The proceeds will be used for debt reduction, acquisitions and working capital.
Based in New Berlin, Wis., International Monetary Systems enables businesses and individuals to barter goods and services through electronic currency.
| Issuer: | International Monetary Systems, Ltd.
|
| Issue: | Stock
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| Amount: | $3,213,750
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| Shares: | 7.5 million
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| Price: | $0.4285
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| Warrants: | For 3.5 million shares
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| Warrant strike price: | $0.55
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| Investor: | Praetorian Offshore Ltd.
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| Settlement date: | May 11
|
| Stock symbol: | OTCBB: INLM
|
| Stock price: | $0.65 at close May 11
|
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