Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Bartercard IPO Update

Bartercard IPO Update - IRTA Announces Contingent Contract with BPS Technology

Bartercard IPO Update

The International Reciprocal Trade Association recently released an announcement regarding a contingent contract with Bartercard parent company BPS Technology and the following are the key points from IRTA’s release. During the past seventeen years the barter software industry has grown, providing barter exchanges a large choice of software platforms to choose from, many of which provide their own version of inter-exchange currencies. These inter-exchange currencies, in effect, compete with IRTA’s subsidiary UC (Universal Clearinghouse, Inc.), thereby further splintering the industry, which is counter to its original goal of providing a true universal trading currency to unify the industry. Throughout this time, UC released their barter software platform from various software companies and in the last four years they explored creating their own software and examined other cooperative arrangements with existing software companies.

In the judgment of the IRTA Global Board of Directors, the existing Bartercard software, combined with the financial resources resulting from a successful IPO through BPS Technology, would be in a position to provide the best opportunity for UC to utilise and recommend a highly advanced technology solution to the industry. Furthermore, the strict governance standards requirements of a separate and independent publicly listed company would ensure that members’ data would always be protected.

As a result, the IRTA Global Board of Directors approved moving forward with a contingent contract with BPS Technology for an initial five year term, with two potential additional five year terms, but only if both parties elected to continue for the extra five-year terms. The agreement would become effective only if and when the BPS Technology IPO was successfully completed by August 31, 2014.

To this end, the BPS/IRTA/UC software initiative is still a work in progress, and because the contract is of a contingent nature and does not commence without a successful IPO, IRTA and UC were waiting to receive evidence of a successful IPO before making any announcements about the project. IRTA and UC have been advised by BPS that the Australian Securities and Investment Commission (ASIC) has approved its prospectus, having met and passed all the strict legal and accounting requirements that comes with a listing, and the Bartercard IPO is now effectively open. As per the agreement with BPS Technology, IRTA and UC will continue to recommend and endorse the BPS software as long as BPS continues to modernize and improve the software consistent with technological changes in the industry.

For further information about Bartercard IPO please go to http://www.bartercard.co.nz/

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Media: Fairfax Moves To Create Modern Newsroom

Fairfax Media New Zealand continues its newsroom transformation this week, with a proposal to further organise its editorial operations into focused, local teams and specialist national topic areas. More>>

ALSO:

Dairy: Fonterra Forecast For 2015/16 Season

Fonterra Co-operative Group Limited has today reduced its forecast Farmgate Milk Price for the 2014/15 season to $4.40 per kgMS. Along with its previously announced forecast dividend range of 20-30 cents per share, the change amounts to a forecast ... More>>

ALSO:

BusinessDesk: SkyCity Lifts Minimum Convention Centre Investment To $430M

SkyCity Entertainment Group, the casino operator, has lifted the minimum it will invest in the Auckland International Convention Centre to $430 million and said total costs including land may be $450 million to $470 million. More>>

Statistics: Drop In Dairy Prices Leads Fall In Exports

Total goods exports fell $240 million (5.5 percent) to $4.2 billion in April 2015 compared with April 2014, Statistics New Zealand said today. More>>

BusinessDesk: APN's NZME Sees Future In Paywalls, Growth In Digital Sales

APN News & Media has touted a single newsroom concept for its NZME unit in New Zealand, similar to what Germany's Die Welt uses, saying an 'integrated sales proposition' is helping it win market share, including ... More>>

Labour Party: Global Milk Prices Now Lowest In 6 Years

The latest fall in the global dairy price has brought it to the lowest level in six years and shows there must be meaningful action in tomorrow’s Budget to diversify the economy, says Labour’s Finance spokesperson Grant Robertson. “Dairy prices ... More>>


BusinessDesk: NZ Inflation Expectations Creep Higher In June Survey

May 19 (BusinessDesk) - New Zealand businesses lifted their expectations for inflation over the next two years, sapping any immediate pressure on the Reserve Bank to cut interest rates, and prompting the kiwi dollar to jump higher. More>>

BusinessDesk: Lower Fuel Costs Drive Down NZ Producer Input, Output Prices

May 19 - Producer input and output prices fell in the first quarter, mainly reflecting lower fuel costs and weakness in prices of meat and dairy products. More>>

Media: Fairfax Media NZ Announces Senior Editorial Team

Fairfax Media New Zealand has today confirmed its new editorial leadership team, as part of a transformation of its newsrooms aimed at enhancing local and national journalism across digital and print. More>>

Science: Flavonoids Reduce Cold And Cough Risk

Flavonoids reduce cold and cough risk Research from the University of Auckland shows eating flavonoids – found in green tea, apples, blueberries, cocoa, red wine and onions – can significantly reduce the risk of catching colds and coughs. The research, ... More>>

BusinessDesk: RBNZ House Alert Speech The Catalyst For Government Action

Prime Minister John Key all but conceded that pressure from the Reserve Bank of New Zealand for concerted action on rampant Auckland house prices was one of the main catalysts for the government's weekend announcements about tightly ... More>>

BusinessDesk: How To Fall Foul Of The New Housing Tax Rules: Tips From IRD

Just because you rented out your investment property doesn't absolve you from paying tax, says the Inland Revenue Department in a summary of commonly made mistakes by non-professional property investors when it comes to their tax liability.More>>

Legal: Superdiversity Law, Policy And Business Stocktake Announced

Mai Chen, Managing Partner at Chen Palmer New Zealand Public and Employment Law Specialists and Adjunct Professor of Law at the University of Auckland, today announced the establishment ... More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news