Item 1.01 Entry into a Material Definitive Agreement On January 17, 2014 , International Monetary Systems, Ltd. finalized a private transaction to acquire 96,860 shares of the Company's common stock from two shareholders in exchange for two promissory notes totaling $1,065,460 . The notes call for 36 monthly payments of $20,532 , followed by 24 monthly payments of $17,487 , including interest ranging from 3 to 6% annually. Both notes begin monthly payments immediately. The acquired shares are to be retired to authorized and unissued status.
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