On June 28, 2011, Park City Group, Inc. (the "Company") entered into a Term Loan Agreement ("Loan Agreement") with U.S. Bank N.A. ("Bank"), and issued a Term Note to the Bank in the principal amount of $350,000. The Term Note bears interest at an annual rate of 3.95%. Principal and accrued interest under the terms of the Term Note are payable in 35 installments of $10,355 each beginning August 15, 2011 and on the same date on each consecutive month thereafter until maturity, or July 15, 2014. Amounts due under the terms of the Term Note are guaranteed by Randall K. Fields, the Chief Executive Officer of the Company.

On July 5, 2011, the Company issued a press release announcing that it had retired certain promissory notes in the principal amount of approximately $1.5 million ("Notes"), which Notes were originally issued in January 2009 to certain investors to partially finance the acquisition of Prescient Applied Intelligence, Inc. The Notes had an original maturity date of July 12, 2011, and required payment of interest calculated at 12% per annum, payable quarterly. Cash flow from operations, and proceeds from the issuance of the Term Note, were used to retire the Notes.

In connection with the retirement of the Notes, the Company also extended the maturity date of the remaining issued and outstanding Notes, totaling approximately $250,000, from July 12, 2011 to January 12, 2012.

A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1.

See the Exhibit Index.