UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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): February 27,
2017
PAYBOX CORP
(Exact
Name of Registrant as Specified in Charter)
Delaware
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0-20660
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11-2895590
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(State
or Other Jurisdiction of
Incorporation)
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(Commission
File Number)
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(I.R.S.
Employer Identification
No.)
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500 East Broward BoulevardSuite 1550Fort Lauderdale,
Florida
(Address
of Principal Executive Offices)
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33394
(Zip
Code)
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Registrant’s
telephone number, including area code: (954) 510-3750
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):
☐
Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 1.02
Termination of a Material Definitive Agreement.
On
February 27, 2017, Paybox Corp (the “Company”) was
informed by International Business Machine Corporation
(“IBM”) that IBM was terminating the larger of two
agreements with the Company, whereby the Company provides e-invoice
services to IBM’s operating units, effective September 1,
2017. The agreement had been scheduled to expire on
December 31, 2017, and IBM exercised its right under the agreement
to terminate on 180 days advance notice.
Approximately 35.1%
of the Company’s revenues were attributable to this agreement
with IBM in the year ended December 31, 2016. It is possible
that the Company may continue to provide certain services relating
to this agreement on a month-to-month basis following
termination.
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SIGNATURE
Pursuant to the
requirements of the Securities Exchange Act of 1934, Paybox Corp
has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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PAYBOX
CORP
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Dated: March 1, 2017 |
By:
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/s/
Lowell
Rush
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Lowell
Rush |
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Chief Financial Officer |
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