The following are questions that IRTA Members may wish to ask the Global Board of IRTA, following the news that IRTA has confirmed an exclusive deal with Bartercard.
On 31 July 2014, Bartercard (i.e. BPS Technology Ltd formerly Big Payment Systems Ltd) issued their Prospectus and sought to list on the Australian Securities Exchange (ASX).
In their Prospectus they claimed a deal had been signed in June 2014 with IRTA for the supply of (and an exclusive active endorsement of) the software solutions for IRTA’s Universal Currency for a period of 15 years (5+5+5).
Following extensive blogging, online commentary and my Formal Complaint to the ASX on 5 August 2014, IRTA issued an ‘IRTA New Flash’ advising Members of the deal, the date of signing not detailed.
The key questions should focus on the issues of who made the various decisions; when and on what basis and to what degree transparency and proper conduct occurred. I have a lot more but I believe the answers to these key questions will rip the whole shonky deal apart for the world to see what is really goign on behind the scenes in a once-proud Industry Association.
- Who voted FOR the Bartercard Deal and who voted AGAINST the deal?
- What were the factors that they considered and why did they vote as they did (if indeed they did)?
- When was that vote taken (and therefore IRTA’s decision made)? When was the agreement with Bartercard signed?
- What information was in their hands at the time of the vote and what were the circumstances surrounding their voting?
- Do they have any concerns over the process undertaken, particularly in relation to transparency, integrity, conflict of interests and announcement of the deal, or anything else related to the deal? If so, then what were/are they?
The answers to the first question should be found in the minutes of the Board Meeting. All IRTA Members should be able to view those minutes which SHOULD also contain the answers to the second and third questions as well.
Individual Board Members will no doubt wish to address the greater details of questions 4 & 5 and make this available to their constituents.
I will update this page with information as it is provided to me.
|Annette Riggs (President)Community Connect Trade Association||X||Almost certainly FOR|
|Scott Whitmer (Vice President)Florida Barter||X||Most likely|
|Scot Mathewson (Secretary)iTradeearth||X||Most likely|
|Mary Ellen Rosinski (Treasurer)Tradesource Inc.||X|
|Ron Whitney (Executive Director)||X||Almost certainly FOR|
|Paul BolteBarterCard International Group||X||Most likley|
|Dr. Oi Kum LeeBarterXchange Pte Ltd||X|
|John StrableyIMS – International Monetary Systems Ltd||X|
|Perry G. ConstantinidesBarterSystems Inc.||X|
|M. Sirri SimsekTurk Barter International AS||X|
|Andrew PairmanAnbell Trade Exchange, Ltd.||X|
|Harold RiceAmerican Exchange Network||X|
|Rob van HiltenQoin||X|
|Allan Hackel (Honorary Board Member)The Allan R. Hackel Organization||X|
The Barter Series
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View an index of all articles in The Barter Series, sorted by Date or by Key Subject.