UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) April 10, 2014
International Monetary Systems, Ltd
(Exact name of registrant as specified in its charter)
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Wisconsin
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0-30853
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39-1924096
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(State or other jurisdiction of incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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16901 West Glendale Dr. New Berlin, WI
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53151
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(Address of principal executive offices)
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(Zip Code)
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Registrant’s telephone number, including area code: 262-780-3640
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 1 4a- 12 under the Exchange Act (17 CFR 240.1 4a- 12)
o Pre-commencement communications pursuant to Rule 1 4d-2(b) under the Exchange Act (17 CFR 240.1 4d-2(b))
o Pre-commencement communications pursuant to Rule 1 3e-4(c) under the Exchange Act (17 CFR 240.1 3e-4(c))
Item 1.01 Entry into a Material Definitive Agreement
On April 10, 2014, International Monetary Systems, Ltd. finalized a private transaction to acquire 50,610 shares of the Company’s common stock from a private investor in exchange for a promissory note totaling $632,625. The note calls for 12 monthly payments of 6% interest only, beginning May 10, 2014, followed by 36 monthly payments of $19,246, including interest at 6% annually. The acquired shares are to be retired to authorized and unissued status.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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International Monetary Systems, Ltd.
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Date: April 15, 2014
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By:
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/s/ David Powell | |
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Name: David Powell
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Title: Principal Financial Officer
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