<SEC-DOCUMENT>0001171843-17-004918.txt : 20170810
<SEC-HEADER>0001171843-17-004918.hdr.sgml : 20170810
<ACCEPTANCE-DATETIME>20170810070026
ACCESSION NUMBER:		0001171843-17-004918
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170810
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170810
DATE AS OF CHANGE:		20170810

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:		171019672

	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_080817.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<html><head><title></title></head><body><div style="margin-top: 3pt; margin-bottom: 12pt;"><div style="font-size: 1pt; border-top: Black 2.5pt solid; border-bottom: Black 1.1pt solid; width: 100%;"><font style="font-size: 10pt;">&#160;</font></div></div><p style="text-align: center;"><font style="font-size: 14pt;"><strong>UNITED STATES</strong><br><strong>SECURITIES AND EXCHANGE COMMISSION</strong><br><strong>Washington, D.C. 20549</strong><br>_____________________</font></p><p style="text-transform: uppercase; text-align: center;"><font style="font-size: 14pt;"><strong>Form 8-K</strong><br>_____________________</font></p><p style="text-align: center;"><font style="font-size: 12pt;"><strong>CURRENT REPORT</strong></font></p><p style="text-align: center;"><font style="font-size: 12pt;"><strong>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</strong></font></p><p align="center"><font style="font-size: 10pt;">Date of Report (Date of earliest event Reported): <!--August 10, 2017-->August 10, 2017 &#160;</font></p><p align="center"><font style="font-size: 12pt;"><strong>Intelligent Systems Corporation</strong></font><br><font style="font-size: 10pt;">(Exact Name of Registrant as Specified in Charter)</font></p><table style="width: 100%;" border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td align="center" width="33%"><font style="font-size: 10pt;"><strong>Georgia</strong></font></td><td align="center" width="34%"><font style="font-size: 10pt;"><strong>001-09330</strong></font></td><td align="center" width="33%"><font style="font-size: 10pt;"><strong>581964787</strong></font></td></tr><tr valign="top"><td align="center" width="33%"><font style="font-size: 10pt;">(State or Other Jurisdiction of Incorporation)</font></td><td align="center" width="34%"><font style="font-size: 10pt;">(Commission File Number)</font></td><td align="center" width="33%"><font style="font-size: 10pt;">(I.R.S. 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Press release dated August 10, 2017</font></p><p><font style="font-size: 10pt;"></font></p><p><font style="font-size: 10pt;"></font></p><hr style="page-break-after: always;" noshade="noshade"><p align="center"><font style="font-size: 10pt;"><strong>SIGNATURE</strong></font></p><p><font style="font-size: 10pt;">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><table style="width: 100%;" border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td valign="top" width="49%"><font style="font-size: 10pt;">&#160;</font></td><td style="font-size: 12pt;" colspan="2" valign="top"><font style="font-size: 10pt;"><strong>Intelligent Systems Corporation</strong></font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;">&#160;</font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;"></font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">Date: August 10, 2017</font></td><td width="2%"><font style="font-size: 10pt;">By:&#160;</font></td><td style="text-decoration: underline;" width="49%"><font style="font-size: 10pt;">/s/ Karen J. 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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exh_991.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"><html lang="en-US"><head><title>EdgarFiling</title><meta content="text/html; charset=windows-1252"><meta name="GENERATOR" content="MSHTML 8.00.7601.18094"></head><body bgcolor="#ffffff"><p style="text-align: right;"><strong>EXHIBIT 99.1</strong></p><p style="text-align: center;"><strong>Intelligent Systems Announces Second Quarter and Year-To-Date 2017 Results</strong></p><p style="text-align: center;"><p>
 <p align="justify">NORCROSS, Ga., Aug.  10, 2017  (GLOBE NEWSWIRE) -- Intelligent Systems Corporation [NYSE American:INS] announced today its financial results for the three and six month periods ended June 30, 2017.<br></p>  <p align="justify">Revenue was $3,136,000 and $4,888,000 in the three and six month periods of 2017, respectively, representing growth of 102 percent and 53 percent, respectively, as compared to the same periods in 2016.&#160; The growth is attributable to an increase in the number of software licenses, an increase in the volume of transaction processing services and an upswing in our professional services.</p>  <p align="justify">For the three month period ended June 30, 2017, the company recorded net income attributable to Intelligent Systems of $203,000 ($0.02 per basic and diluted share) compared to net loss attributable to Intelligent Systems of $217,000 ($0.02 per basic and diluted share) in the second quarter of 2016. The strong revenue growth for the quarter offset, to a lesser degree, by an increase in operating expenses primarily in R&amp;D expenditures, resulted in significantly greater income from continuing operations for the second quarter of 2017 as compared to the same period last year.</p>  <p align="justify">For the year-to-date period ended June 30, 2017, the company recorded net loss&#160; attributable to Intelligent Systems Corporation of $262,000&#160; ($0.03 per basic and diluted share), compared to net loss attributable to Intelligent Systems of $1,155,000 ($0.13 per basic share and diluted share) in the six month period in 2016. The positive change between periods is due to both the revenue growth experienced for the year resulting in a lesser loss from operations year over year and less investment write-downs in 2017 as compared to 2016. Impacting the prior year-to-date period was a non-cash investment write-down charge of $750,000 included in the line item Other Income (Loss) to reduce the carrying value of an investment in a development stage technology company in which the company owned a minority equity stake.</p>  <p align="justify">&#8220;Revenue increases are usually a good thing and it certainly is in this case,&#8221; commented J. Leland Strange, CEO of Intelligent Systems.&#160; &#8220;Profits (or less losses) are not always good if the business should be increasing investment in resources in anticipation of greater revenue in the future. At this point for CoreCard, we are constantly trying to balance these competing interests (make a profit or keep investing) amid the larger competitive landscape as well as anticipated new customer engagements. The bottom line from a business growth standpoint is things are good and look good going forward although the bottom line from a profit view will depend on other longer term tactical decisions.&#8221;</p>  <p align="justify"><strong>Investor Conference Call Today</strong></p>  <p align="justify">The company is holding an investor conference call today, August 10, 2017, at 11 AM Eastern time.&#160; Interested investors are invited to attend the conference call by dialing 855.766.6518 and entering conference ID code 64718354.&#160; A transcript of the call will be posted on the company&#8217;s website at www.intelsys.com as soon as available after the call.</p>  <p align="justify">The company will file its Form 10-Q for the period ended June 30, 2017 with the Securities and Exchange Commission today, August 10, 2017. For additional information about reported results, investors will be able to access the Form 10-Q on the company&#8217;s website at www.intelsys.com or on the SEC site, www.sec.gov.</p>  <p align="justify"><strong>About Intelligent Systems Corporation</strong></p>  <p align="justify">For over thirty-five years, Intelligent Systems Corporation [NYSE American:INS] has identified, created, operated and grown technology companies. The company&#8217;s principal continuing operations include CoreCard Software, Inc. (www.corecard.com) and its affiliate companies. CoreCard designs, develops, and markets a comprehensive suite of software solutions to corporations, financial institutions, retailers and processors to manage their credit and debit cards, prepaid cards, private label cards, fleet cards, loyalty programs, and accounts receivable and small loan transactions. CoreCard is a unique partner for FinTech innovators by providing them a comprehensive platform for their payment and processing solutions. CoreCard also offers prepaid and credit card processing services using its proprietary software solutions. &#160; Further information is available on the company&#8217;s website at www.intelsys.com or by calling the company at 770.381.2900.</p>  <p align="justify"><em>In addition to historical information, this news release may contain forward-looking statements relating to Intelligent Systems Corporation 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 Corporation and its management with respect to, among other things, results of operations, product plans, and financial condition. The words "may," "will," "anticipate," "believe," "intend," "expect," "estimate," "plan," "strategy" and similar expressions are intended to identify forward-looking statements.&#160; 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 undertake to update or revise any forward-looking statements whether as a result of new developments or otherwise, except as required by law. 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vertical-align: bottom ; ">58</td><td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; padding-right: 0 ; vertical-align: bottom ; ">&#160;</td><td style="padding-left: 0 ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">203</td><td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; padding-right: 0 ; vertical-align: bottom ; ">&#160;</td><td style="padding-left: 0 ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">122</td><td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="border-bottom: solid black 1pt ; vertical-align: bottom;   text-align: left;   padding-left: 25.0px; vertical-align: bottom ; ">Services</td><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; border-bottom: solid black 1pt ; padding-right: 0 ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; padding-left: 0 ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1,199</td><td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; border-bottom: solid black 1pt ; padding-right: 0 ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; padding-left: 0 ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">719</td><td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; border-bottom: solid black 1pt ; padding-right: 0 ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; padding-left: 0 ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2,046</td><td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; border-bottom: solid black 1pt ; padding-right: 0 ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; padding-left: 0 ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1,367</td><td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; 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padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; border-bottom: solid black 1pt ; padding-right: 0 ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; padding-left: 0 ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2,249</td><td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; border-bottom: solid black 1pt ; padding-right: 0 ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; padding-left: 0 ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1,489</td><td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; 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padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">69</td><td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; padding-right: 0 ; vertical-align: bottom ; ">&#160;</td><td style="padding-left: 0 ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">99</td><td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; padding-right: 0 ; vertical-align: bottom ; ">&#160;</td><td style="padding-left: 0 ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">148</td><td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom;   text-align: left; 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padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">383</td><td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; padding-right: 0 ; vertical-align: bottom ; ">&#160;</td><td style="padding-left: 0 ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">878</td><td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; padding-right: 0 ; vertical-align: bottom ; ">&#160;</td><td style="padding-left: 0 ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">939</td><td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: bottom; 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padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1,829</td><td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; padding-right: 0 ; vertical-align: bottom ; ">&#160;</td><td style="padding-left: 0 ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1,256</td><td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; ">Income (loss) from operations</td><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-right: 0 ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">282</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-right: 0 ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(320</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-right: 0 ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(216</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-right: 0 ; vertical-align: bottom ; ">&#160;</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(683</td><td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td></tr><tr><td style="vertical-align: bottom; 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padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(242</td><td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; padding-right: 0 ; vertical-align: bottom ; ">&#160;</td><td style="padding-left: 0 ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(1,325</td><td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td></tr><tr><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; vertical-align: bottom ; ">Income taxes</td><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; padding-right: 0 ; vertical-align: bottom ; ">&#160;</td><td style="padding-left: 0 ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">20</td><td style="padding-left: 0 ; 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">&#160;</td><td style="border-bottom: solid black 1pt ; padding-left: 0 ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(3,016</td><td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td></tr><tr><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; border-bottom: solid black 1pt ; vertical-align: bottom ; ">Total stockholders&#8217; equity</td><td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">18,702</td><td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; padding-left: 0 ; 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vertical-align: bottom ; ">22,704</td><td style="border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td></tr><tr><td colspan="6" style="vertical-align: bottom ; ">&#160;</td></tr></table></p><p>For further information, call<br>Karen J. Reynolds, 770.564.5503<br>or email to karen@intelsys.com</p></body></html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
