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C-Level: International Monetary Systems Names CFO

July 14, 2010 (FinancialWire) (Investrend Information Syndicate) (Go to for all of today’s featured news.) — Subsequent to appointing David A. Powell as interim treasurer and chief financial officer, International Monetary Systems, Ltd. (ITNM) recently designated Mr. Powell as principal financial officer and principal accounting officer for purposes of any filings with the Securities and Exchange Commission. The “interim” portion of the title was removed and Powell's appointment by a board resolution.

Powell is a certified public accountant with over 10 years experience in public accounting and more than 15 years experience holding a variety of senior financial positions with a number of companies. Prior to joining IMS, he has served as finance and operations manager for the insurance subsidiaries of US Bancorp for more than 10 years, and most recently spent a year as corporate controller for a privately held group of retail service companies and a year as corporate controller for a privately held wholesale marketing and distribution company. Since joining IMS in July, 2009, he has been involved in tax compliance, risk management, and accounting and financial reporting.

Company CEO Don Mardak commented, "We are extremely pleased to make this appointment of Dave Powell official. Since joining our firm last year, he has brought many refreshing ideas and insights into our operation and has helped us improve efficiencies and internal controls."

International Monetary Systems’ proprietary transaction clearing software enables businesses and individuals to trade goods and services online using an electronic currency known as “trade dollars”. The IMS network allows companies to create cost savings and connect to new customers by incorporating barter opportunities in their business models.

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