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<SEC-DOCUMENT>0001171843-06-000093.txt : 20060501
<SEC-HEADER>0001171843-06-000093.hdr.sgml : 20060501
<ACCEPTANCE-DATETIME>20060501100100
ACCESSION NUMBER:		0001171843-06-000093
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20060427
ITEM INFORMATION:		Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20060501
DATE AS OF CHANGE:		20060501

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INTELLIGENT SYSTEMS CORP
		CENTRAL INDEX KEY:			0000320340
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				581964787
		STATE OF INCORPORATION:			GA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09330
		FILM NUMBER:		06792695

	BUSINESS ADDRESS:	
		STREET 1:		4355 SHACKLEFORD RD
		CITY:			NORCROSS
		STATE:			GA
		ZIP:			30093
		BUSINESS PHONE:		4043812900

	MAIL ADDRESS:	
		STREET 1:		4355 SHACKLEFORD ROAD
		CITY:			NORCROSS
		STATE:			GA
		ZIP:			30093
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f8k_04272206.htm
<DESCRIPTION>FORM 8-K
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			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:center;"><b><font size="2">UNITED STATES</font></b></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:center;"><font size="3">SECURITIES AND EXCHANGE COMMISSION</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:center;"><font size="3">Washington, D.C. 20549</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:center;"><font size="2">&nbsp;</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:center;"><b><font size="3">FORM 8-K</font></b></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:center;"><font size="2">&nbsp;</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:center;"><b><font size="2">Current Report</font></b></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:center;"><b><font size="2">Pursuant to Section 13 or 15(d) of the</font></b></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:center;"><b><font size="2">Securities Exchange Act of 1934</font></b></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:center;"><font size="2">&nbsp;</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:center;"><font size="2">Date of Report (Date of earliest event reported): </font><font size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size="2">April 27, 2006</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:center;"><font size="2">&nbsp;</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:center;border-bottom:solid 1.5pt;padding-bottom:1;padding-top:0;"><b><font size="3">INTELLIGENT SYSTEMS CORPORATION</font></b></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:center;"><font size="2">(Exact name of Registrant as specified in its charter)</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:center;"><font size="2">&nbsp;</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:center;"><font size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><b><font size="2"> </font></b></p>
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						<p style="margin-left:0pt;text-indent:0pt;margin-top:0pt;margin-bottom:0pt"><b><font size="2">Georgia</font></b></p>
					</td>
					<td width="175" nowrap valign="top" align="center">
						<p style="margin-left:0pt;text-indent:0pt;margin-top:0pt;margin-bottom:0pt"><b><font size="2">1-9330</font></b></p>
					</td>
					<td width="213" nowrap valign="top">
						<p style="margin-left:0pt;text-indent:0pt;margin-top:0pt;margin-bottom:0pt"><b><font size="2">58-1964787</font></b></p>
					</td>
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						<p style="margin-left:0pt;text-indent:0pt;margin-top:0pt;margin-bottom:0pt"><font size="2">(State or other jurisdiction<br>
							</font><font size="2">of incorporation or organization)</font></p>
					</td>
					<td width="175" nowrap valign="top" align="center">
						<p style="margin-left:0pt;text-indent:0pt;margin-top:0pt;margin-bottom:0pt"><font size="2">Commission file number</font></p>
					</td>
					<td width="213" nowrap valign="top" align="center">
						<p style="margin-left:0pt;text-indent:0pt;margin-top:0pt;margin-bottom:0pt"><font size="2">(I.R.S. Employer Identification No.)</font></p>
					</td>
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			</table>
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		<div style="width:600;">
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:center;"><font size="2">&nbsp;</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:justify;"><font size="1">&nbsp;</font></p>
		</div>
		<div style="width:600;" align="center">
			<table border="0" cellspacing="0" cellpadding="0" style="margin-left:0pt;border-collapse:collapse">
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					<td width="258" nowrap valign="top">
						<p style="margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><b><font size="2">4355 Shackleford Road, Norcross, Georgia</font></b></p>
					</td>
					<td nowrap valign="top" width="58">
						<p style="margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><b><font size="2">30093</font></b></p>
					</td>
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					<td width="258" nowrap valign="top">
						<p style="margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><font size="2">(Address of principal executive offices)</font></p>
					</td>
					<td nowrap valign="top" width="58">
						<p style="margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><font size="2">(Zip Code)</font></p>
					</td>
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		<div style="width:600;">
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:justify;"><font size="1">&nbsp;</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:center;"><font size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size="2">Registrant&#146;s telephone number, including area code:</font><b><font size="2"> (770) 381-2900</font></b></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:center;"><font size="2">&nbsp;</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:left;"><font size="2">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):</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:left;"><br>
				<font size="2">[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
					[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFP 240.14a-12)<br>
				</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:left;"><font size="2">[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
				</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:left;"><font size="2">[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))</font><br>
				<br>
			</p>
			<hr noshade align="center" width="100%" size="2">
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:left;"><font size="2">&nbsp;</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:justify;"></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:left;"><b><font size="2">Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard. Transfer of Listing.</font></b></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:left;"><font size="2">&nbsp;</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt; text-indent:0.56in;text-align:left;"><font size="2">On April 27, 2006, The American Stock Exchange (&quot;AMEX&quot;) sent a letter to Intelligent Systems Corporation (the &quot;Company&quot;) notifying it that, based upon review of the Company's Annual Report on Form 10-KSB filed for the year ended December 31, 2005, AMEX has determined that the Company does not meet certain of the AMEX continued listing standards as set forth in the AMEX Company Guide. Specifically, AMEX notified the Company that it is not in compliance with Section 1003(a)(ii) of the AMEX Company Guide because the Company&#146;s shareholders' equity is less than $4,000,000 and the Company has sustained losses in three out of four of its most recent fiscal years. </font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:left;"><font size="2">&nbsp;</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt; text-indent:0.57in;text-align:left;"><font size="2">In order to maintain listing of our Common Stock on AMEX, we must submit a plan by May 26, 2006, advising AMEX of the Company's plan to achieve compliance with the continued listing standards referenced in the AMEX letter of April 27, 2006. The plan must provide for the Company to be back in compliance within an 18 month period. </font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:left;"><font size="2">&nbsp;</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt; text-indent:0.57in;text-align:left;"><font size="2">The Listings Qualifications Department of AMEX will evaluate our plan and determine whether we have made a reasonable demonstration in the plan of an ability to regain compliance with the continued listing standards within 18 months. If AMEX accepts our plan, we may be able to continue our listing during the plan period, during which time we will be subject to periodic review to determine if we are making progress consistent with the consistent with the plan. If AMEX does not accept our plan, we do not submit a plan, we fail to make progress consistent with our plan, or if we are not in compliance by the end of the 18 month period, AMEX may initiate delisting proceedings with respect to our Common Stock. We may appeal any AMEX staff determination to initiate delisting proceedings with respect to our Common Stock.</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:left;"><font size="2">&nbsp;</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt; text-indent:0.56in;text-align:left;"><font size="2">We presently intend to submit such a plan for AMEX to review by May 27, 2006. Our Common Stock continues to trade on AMEX; however, our trading symbol will remain the same but will have an indicator .BC added as an extension to signify our noncompliance with the continued listing standards. Within five days of the April 27, 2006 letter from AMEX, the Company will be included in a list on the AMEX website of issuers that do not comply with the listing standards. The .BC indicator will remain as an extension on our trading symbol until the Company has regained compliance with all applicable continued listing standards. </font><font size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt; margin-left:1in;text-align:left;"><font size="2">&nbsp;</font></p>
			<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><b><font size="2">Item 7.01. </font></b><b><font size="2">Regulation FD Disclosure.</font></b></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:left;"><font size="2">&nbsp;</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt; text-indent:0.56in;text-align:left;"><font size="2">On May 1, 2006, Intelligent Systems Corporation issued a press release disclosing its receipt of a letter dated April 27, 2006 from AMEX and noted that is was not in compliance with AMEX's continued listing standards. A copy of the May 1, 2006 press release, attached hereto as Exhibit 99.1, is being furnished pursuant to Regulation FD and is incorporated by reference herein. </font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:left;"><br>
			</p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:left;"><b><font size="2">Item 9.01. Financial Statements and Exhibits.</font></b></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:left;"><font size="2">&nbsp;</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:left;"><b><font size="2">(c) Exhibits</font></b></p>
			<table border="0" cellspacing="0" cellpadding="0" width="468" style="margin-left:0pt;border-collapse:collapse">
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					<td width="24" nowrap valign="top">
						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><font size="1">&nbsp;</font></p>
					</td>
					<td width="82" nowrap valign="top">
						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><font size="2">Exhibit 99.1</font></p>
					</td>
					<td nowrap valign="top">
						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><font size="2">Press Release issued by Intelligent Systems Corporation dated May 1, 2006.</font></p>
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			<br>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:left;"><font size="2">&nbsp;</font></p>
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			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:left;"><font size="2">&nbsp;</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt; margin-left:3.5in;text-align:left;"><font size="2"><b>SIGNATURE</b></font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:left;"><font size="2">&nbsp;</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:justify;"><font size="2">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.</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:justify;"><font size="2">&nbsp;<br>
				</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:justify;"><font size="2">&nbsp;</font></p>
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						<p style="margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><font size="2">Date: May 1, 2006</font></p>
					</td>
					<td>
						<p style="margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><font size="2">INTELLIGENT SYSTEMS CORPORATION<br>
							</font></p>
						<p style="margin-left:0in;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><font size="2">(Registrant)<br>
								<br>
							</font></p>
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						<p style="margin-left:0pt;text-indent:0pt;margin-top:0pt;margin-bottom:0pt"><font size="2">By:</font></p>
					</td>
					<td>
						<p style="margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><u><font size="2">/s/ Bonnie L. Herron<br>
								</font></u></p>
						<p style="margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><font size="2">Bonnie L. Herron<br>
							</font></p>
						<p style="margin-left:0in;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><font size="2">Chief Financial Officer</font></p>
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			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:justify;"><font size="2">&nbsp;</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:center;"></p>
			<hr noshade align="center" width="100%" size="2">
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:center;"><font size="2">&nbsp;</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:center;"><b><font size="2">Exhibit Index</font></b></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:center;"><font size="2">&nbsp;</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:center;"><font size="2">&nbsp;</font></p>
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					<td width="98" nowrap valign="top">
						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><u><font size="2">Exhibit Number</font></u></p>
					</td>
					<td width="319" nowrap valign="top">
						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><u><font size="2">Description</font></u></p>
					</td>
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			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:left;"><font size="2">&nbsp;</font></p>
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						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><font size="2">99.1</font></p>
					</td>
					<td valign="top">
						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><font size="2">Press release issued by Intelligent Systems Corporation on May 1, 2006</font></p>
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			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:left;"><font size="2">&nbsp;</font></p>
			<br>
			<hr noshade align="center" width="100%" size="2">
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:left;"><font size="2">&nbsp;</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:center;"></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:left;"><font size="2">&nbsp;</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:left;"><font size="2">&nbsp;</font></p>
			<p style=" margin-bottom:0pt; margin-top:0pt;text-align:left;"><font size="2">&nbsp;</font></p>
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<TYPE>EX-99
<SEQUENCE>2
<FILENAME>exh991.htm
<DESCRIPTION>EXHIBIT 99.1
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			<p><font size="2">Exhibit 99.1</font></p>
		</div>
		<p><font size="2"><b>AMEX NOTIFIES INTELLIGENT SYSTEMS CORPORATION</b><b><br>
				</b><b>THAT IT IS NONCOMPLIANT WITH LISTING STANDARDS</b></font></p>
		<p><font size="2"><b>Company Intends to Submit Plan to Regain Compliance </b></font></p>
		<p><font size="2">NORCROSS, Ga., May 1, 2006 (PRIMEZONE) -- Intelligent Systems Corporation (AMEX:INS) has received notice from The American Stock Exchange (AMEX) that AMEX has determined that the company is not in compliance with a certain condition of the continued listing standards of the AMEX. Specifically, AMEX noted that the company's shareholders' equity was less than $4 million and losses from continuing operations were incurred in three of the four most recent fiscal years. </font></p>
		<p><font size="2">To maintain an AMEX listing, we must submit a plan by May 26, 2006 which demonstrates to AMEX that the company will be back in compliance with the continued listing standards within a maximum of 18 months from the date of notification by AMEX. We presently intend to submit a plan for AMEX to review by May 26, 2006. </font></p>
		<p><font size="2">The Listings Qualifications Department of AMEX will evaluate our plan and determine whether we have made a reasonable demonstration in the plan of an ability to regain compliance with the continued listing standards within 18 months. If AMEX accepts our plan, we may be able to continue our listing during the plan period, during which time we will be subject to periodic review to determine if we are making progress consistent with the plan. If AMEX does not accept our plan, we do not submit a plan, we fail to make progress consistent with our plan, or we are not in compliance by the end of the 18 month period, AMEX may initiate delisting proceedings with respect to our Common Stock. Under AMEX rules, we have the right to appeal any determination by AMEX to initiate delisting proceedings. </font></p>
		<p><font size="2">Our Common Stock continues to trade on AMEX under the symbol INS, however, our trading symbol will have an indicator .BC added as an extension to signify our noncompliance with the continued listing standards. Within five days of the April 27, 2006 letter from AMEX, our company will be included in a list on the AMEX website of issuers that do not comply with the listing standards. The .BC indicator will remain as an extension on our trading symbol until we have regained compliance with all applicable continued listing standards. </font></p>
		<p><font size="2"><b><i>About Intelligent Systems Corporation</i></b><br>
				For over thirty years, Intelligent Systems Corporation (AMEX:INS) has identified, created, operated and grown early stage technology companies. The company's consolidated subsidiaries include VISaer, Inc. (www.visaer.com), QS Technologies, Inc. (www.qsinc.com), CoreCard Software, Inc. (www.corecard.com), (all software companies) and ChemFree Corporation (www.chemfree.com) (an industrial products company). Further information is available on the company's website at www.intelsys.com, or by calling the company at 770/381-2900.</font></p>
		<p><font size="2"><i>In addition to historical information, this news release may contain forward-looking statements relating to Intelligent Systems and its subsidiary and affiliated companies. These statements include all statements that are not statements of historical fact regarding the intent, belief or expectations of Intelligent Systems and its management with respect to, among other things, results of operations, product plans, and financial condition. The words &quot;may,&quot; &quot;will,&quot; &quot;anticipate,&quot; &quot;believe,&quot; &quot;intend,&quot; &quot;expect,&quot; &quot;estimate,&quot; &quot;plan,&quot; &quot;strategy&quot; and similar expressions are intended to identify forward-looking statements. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. The company does not undertak
e to update or revise any forward-looking statements whether as a result of new developments or otherwise. Among the factors that could cause actual results to differ materially from those indicated by such forward-looking statements are delays in product development, undetected software errors, competitive pressures (including pricing), changes in customers' requirements or financial condition, market acceptance of products and services, changes in financial markets, changes in the performance, financial condition or valuation of affiliate companies, the risks associated with investments in privately-held early stage companies, and general economic conditions, particularly those that cause business or government to delay or cancel purchase decisions. Factors that affect the company's success are more fully disclosed in the company's most recent filings with the Securities and Exchange Commission, including its annual report on Form 10-KSB and its subsequent filings. </i></font></p>
		<p><font size="2"><b>CONTACT:</b></font></p>
		<p><font size="2">Intelligent Systems Corporation<br>
				Bonnie Herron<br>
				(770) 564-5504<br>
				bherron@intelsys.com</font></p>
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