<SEC-DOCUMENT>0001171843-18-005842.txt : 20180808
<SEC-HEADER>0001171843-18-005842.hdr.sgml : 20180808
<ACCEPTANCE-DATETIME>20180808071514
ACCESSION NUMBER:		0001171843-18-005842
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20180808
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180808
DATE AS OF CHANGE:		20180808

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:		18999783

	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_080618.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 8, 2018-->August 8, 2018 &#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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[&#160;&#160; ]</p><div style="margin-top: 12pt; margin-bottom: 3pt;"><div style="font-size: 1pt; border-top: Black 1.1pt solid; border-bottom: Black 2.5pt solid; width: 100%;"><font style="font-size: 10pt;">&#160;</font></div>&#160;</div><hr style="page-break-after: always;" noshade="noshade" /><p><font style="font-size: 10pt;">  <strong>  </strong></font></p><p><font style="font-size: 10pt;"><strong>Item 2.02. Results of Operations and Financial Condition.</strong></font></p><p><font style="font-size: 10pt;">On August 8, 2018, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.</font></p><p><font style="font-size: 10pt;"><strong>  </strong></font></p><p><font style="font-size: 10pt;"><strong>Item 9.01. Financial Statements and Exhibits.</strong></font></p><p><font style="font-size: 10pt;">
 <p><font style="font-size:10pt; font-family:&quot;times new roman&quot;;"><a href="exh_991.htm" rel="nofollow">Exhibit 99.1</a>. Press release dated August 8, 2018</font></p> </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 8, 2018</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. Reynolds&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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;">Karen J. Reynolds</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;">CFO</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></table><p><hr style="page-break-after: always;" noshade="noshade" /><p style="text-align: center;"><font style="font-size: 10pt;"><strong>EXHIBIT INDEX</strong></font></p><p style="text-align: center;"><font style="font-size: 10pt;">&#160;</font></p><table style="font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" class="mce-item-table"><tr><td style="text-decoration: underline;" valign="bottom"><font style="font-size: 10pt;"><strong>Exhibit Number</strong></font></td><td width="20"><font style="font-size: 10pt;">&#160;</font></td><td style="text-decoration: underline;" valign="bottom"><font style="font-size: 10pt;"><strong>Description</strong></font></td></tr><tr><td><font style="font-size: 10pt;"></font></td><td width="20"><font style="font-size: 10pt;">&#160;</font></td><td><font style="font-size: 10pt;">&#160;</font></td></tr><tr><td><font style="font-size: 10pt;"><a href="exh_991.htm">99.1</a></font></td><td width="20"><font style="font-size: 10pt;">&#160;</font></td><td><font style="font-size: 10pt;"><a href="exh_991.htm">Press Release dated August 8, 2018</a> </font></td></tr></table></p></body></html>
</TEXT>
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<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 Reports Second Quarter 2018 Results</strong></p><p style="text-align: center;" ></p><p>
 <p align="justify">NORCROSS, Ga., Aug.  08, 2018  (GLOBE NEWSWIRE) -- Intelligent Systems Corporation [NYSE American: INS; www.intelsys.com] announced today its financial results for the quarter ended June 30, 2018.&#160;<br ></p>  <p align="justify">&#8220;Meeting the business needs of our customers continues to challenge our ability to add resources quickly enough to meet the demand even with R&amp;D resources jumping in to fill some of the gap as an interim solution,&#8221; commented J. Leland Strange, CEO of Intelligent Systems.&#160; &#8220;The good financial results we are reporting come from a very high level of productivity as the CoreCard team works with a select group of high quality FinTech customers. Having &#8216;too much business&#8217; at a point of time is not something you often hear from a CEO &#8211; particularly one with negligible sales and marketing expenses &#8211; but it is true and we can take on no new customer engagements the rest of this year.&#160; Although, at our current revenue size, we may still see fluctuations in quarterly financial results, we plan and expect to maintain the momentum as we expand our footprints in debit, credit card and complex loan processing markets.&#8221;</p>  <p align="justify"><strong>Financial Highlights for the Second Quarter of 2018</strong></p>  <ul type="disc"><li><strong>Total revenues</strong> of $4,573,000 in the three month period represented growth of 48 percent compared to the same period in 2017. <br >&#160;</li><li><strong>Income from operations</strong> was $1,317,000 for the quarter compared to $239,000 in the comparable prior year quarter.&#160;&#160; <br >&#160;</li><li><strong>Net income</strong> was $1,058,000 for the quarter compared to net income of $160,000 in the comparable prior year quarter.<br >&#160;</li><li><strong>Earnings per diluted share </strong>was $0.12 for the quarter and $0.22 for the six month period ended June 30, 2018.</li></ul>  <p align="justify"><strong>Investor Conference Call Today</strong></p>  <p align="justify">The company is holding an investor conference call today, August 8, 2018, at 11 A.M. Eastern Daylight Time.&#160; Interested investors are invited to attend the conference call by dialing (855) 766-6518 and entering conference ID 1292276.&#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, 2018 with the Securities and Exchange Commission today, August 8, 2018. 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.&#160;</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.&#160; The company&#8217;s principal operations are CoreCard Software, Inc. 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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 ; ">180</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 ; ">2,021</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 ; ">(328</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 ; 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text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1,058</td><td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; 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: double black 3pt ; padding-right: 0 ; vertical-align: bottom ; ">$</td><td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-left: 0 ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&#160; 160</td><td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; 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: double black 3pt ; padding-right: 0 ; vertical-align: bottom ; 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text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">0.02</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 ; ">$</td><td style="border-bottom: solid black 1pt ; padding-left: 0 ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">0.22</td><td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; border-bottom: solid black 1pt ; padding-right: 0 ; vertical-align: bottom ; ">$</td><td style="border-bottom: solid black 1pt ; padding-left: 0 ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; 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border-bottom: double black 3pt ; padding-right: 0 ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: double black 3pt ; padding-left: 0 ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">8,915,758</td><td style="border-bottom: double black 3pt ; 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: double black 3pt ; padding-right: 0 ; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: double black 3pt ; padding-left: 0 ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">8,754,862</td><td style="border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td></tr></table> <p><br ></p>  <p align="center"><strong>CONSOLIDATED BALANCE SHEETS</strong><br ><em>(in thousands)</em></p> <table style="width:100%; 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  text-align: left;   padding-left: 10.0px; vertical-align: bottom ; ">&#160; Other current liabilities</td><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; padding-right: 0 ; vertical-align: bottom ; ">&#160;</td><td colspan="3" style="padding-left: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">531</td><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; padding-right: 0 ; vertical-align: bottom ; ">&#160;</td><td colspan="3" style="padding-left: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">408</td></tr><tr><td colspan="2" style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom;   text-align: left;   padding-left: 20.0px; vertical-align: bottom ; ">&#160; Total current liabilities</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 colspan="3" style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2,754</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 colspan="3" style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; padding-left: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2,275</td></tr><tr><td colspan="2" style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; vertical-align: bottom ; ">Deferred revenue, net of current portion</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 colspan="3" style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">82</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 colspan="3" style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">51</td></tr><tr><td colspan="2" style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; border-top: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: bottom ; ">Total stockholders&#8217; equity</td><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; padding-right: 0 ; vertical-align: bottom ; ">&#160;</td><td colspan="3" style="padding-left: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">21,467</td><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; padding-right: 0 ; vertical-align: bottom ; ">&#160;</td><td colspan="3" style="padding-left: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">19,453</td></tr><tr><td colspan="2" style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; border-bottom: double black 3pt ; vertical-align: bottom ; ">Total liabilities and stockholders&#8217; equity</td><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-right: 0 ; vertical-align: bottom ; ">$</td><td colspan="3" style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-left: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">24,303</td><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-right: 0 ; vertical-align: bottom ; ">$</td><td colspan="3" style="border-top: solid black 1pt ; border-bottom: double black 3pt ; padding-left: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">21,779</td></tr></table> <p>For further information, call<br >Karen Reynolds, 770-564-5503<br >or email to karen@intelsys.com</p>  <p>&#160;<br ></p> </p><p ></p></body></html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
