<SUBMISSION>
<ACCESSION-NUMBER>0001144204-15-002801
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20150113
<ITEMS>3.02
<ITEMS>5.02
<FILING-DATE>20150120
<DATE-OF-FILING-DATE-CHANGE>20150120
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>Boomerang Systems, Inc.
<CIK>0000314712
<ASSIGNED-SIC>3510
<IRS-NUMBER>222306487
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>0930
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-10176
<FILM-NUMBER>15536408
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>30 B VREELAND ROAD
<CITY>FLORHAM PARK
<STATE>NJ
<ZIP>07932
<PHONE>973-538-1194
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>30 B VREELAND ROAD
<CITY>FLORHAM PARK
<STATE>NJ
<ZIP>07932
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>DIGITAL IMAGING RESOURCES INC.
<DATE-CHANGED>20051005
</FORMER-COMPANY>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>DOMINION RESOURCES INC /DE/
<DATE-CHANGED>19960109
</FORMER-COMPANY>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>NORTHERN ARIZONA GOLD & SILVER MILLING & MINING CO INC
<DATE-CHANGED>19820518
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v399039_8k.htm
<DESCRIPTION>8-K
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, DC 20549</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B> <B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Amendment No.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Securities Exchange Act of 1934&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 46%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">Date of report (Date of earliest event reported):</FONT></TD>
    <TD STYLE="width: 54%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;January 13, 2015</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>BOOMERANG SYSTEMS, INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(Exact Name of Registrant as Specified in Charter)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; border-bottom: black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 31%; border-bottom: black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">000-10176 </FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 33%; border-bottom: black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">22-2306487</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(State or Other Jurisdiction </FONT><BR>
<FONT STYLE="font-size: 10pt">of Incorporation)</FONT></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Commission</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">File Number)</P></TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(IRS Employer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Identification No.)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">30 A Vreeland Road, Florham Park, NJ 07932</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(Address of Principal Executive Offices)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 52%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">Registrant's telephone number, including area code:</FONT></TD>
    <TD STYLE="width: 48%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">(973) 538-1194</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-top: black 1pt solid">(Former Name
or Former Address, if Changed Since Last Report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Item 3.02</B></FONT></TD>
    <TD STYLE="width: 89%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Sales of Unregistered Securities</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The disclosures contained in Item 5.02
of this Current Report on Form 8-K (this &ldquo;Report&rdquo;) regarding the J. Gelly Options and G. Gelly Options (as each are
defined therein; together, the &ldquo;Options&rdquo;) are incorporated herein by reference in response to this Item 3.02.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Options were not registered under the
Securities act of 1933, as amended (the &ldquo;Securities Act&rdquo;) and qualified for exemption under Section 4(2) of the Securities
Act because the Company&rsquo;s issuance of the Options did not involve a public offering. The offering was not a &ldquo;public
offering&rdquo; as defined in section 4(2) of the Securities Act due to the insubstantial number of persons involved, size of the
offering, manner of the offering and number of securities offered. The Company did not undertake an offering in which it sold a
high number of securities to a high number of investors. In addition, the grantees had the necessary investment intent as required
by Section 4(2) because each of them agreed to and received certificates bearing a legend stating that such securities are restricted
pursuant to rule 144 of the Securities Act. The restriction ensures that these securities would not be immediately redistributed
into the market and therefore not be part of a &ldquo;public offering.&rdquo; Based on an analysis of the above factors, the Company
has met the requirements to qualify for exemption under Section 4(2) of the Securities Act for this transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Item 5.02</B></FONT></TD>
    <TD STYLE="width: 89%; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Departure of Directors or Principal Officers; Election of Directors; Appointment of Officers</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>James Gelly</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Effective as of January 13, 2015 (the &ldquo;Effective
Date&rdquo;), Boomerang Systems, Inc. (the &ldquo;Company&rdquo;) appointed James Gelly as its chief executive officer (&ldquo;CEO&rdquo;)
and as a director of the Company. Mr. Gelly replaces Mark Patterson, who has resigned as CEO as of the Effective Date. Mr. Patterson
will continue to serve as chairman of the Company&rsquo;s board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Prior to such appointment, Mr. Gelly acted
as an independent consultant from 2012 to 2014. Mr. Gelly served as Executive Vice President &amp; Chief Financial Officer of Constellium
N.V., a global producer of aluminum products, from January 2011 to November 2011 and as Executive Vice President &amp; Chief Financial
Officer of Misys PLC, a provider of banking software delivering financial risk management information to financial institutions,
from November 2008 to May 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with his appointment as CEO,
James Gelly entered into an employment agreement with the Company (the &ldquo;J. Gelly Employment Agreement&rdquo;) setting out
his compensation and duties and providing for Mr. Gelly to serve as CEO until either he or the Company terminates the J. Gelly
Employment Agreement by giving ten (10) days&rsquo; notice to the non-terminating party. The J. Gelly Employment Agreement provides
that Mr. Gelly shall receive a base salary of $1.00 per year. In addition to the base salary, Mr. Gelly shall receive as deferred
compensation the amount of $275,000 which shall accrue monthly (the &ldquo;Deferred Compensation&rdquo;). In addition, at the sole
discretion of the Company&rsquo;s chairman, Mr. Gelly shall be entitled to an annual performance bonus equal to $100,000 (the &ldquo;Annual
Bonus&rdquo;). If there is (a) a substantial equity transaction (as determined by the Chairman) or (b) a sale of all or substantially
all of the stock or assets of the Company in a capital transaction (whether by merger, asset or stock sale) (either, a &ldquo;Liquidity
Event&rdquo;), at Mr. Gelly&rsquo;s election, such Deferred Compensation and Annual Bonus, if any, may be received in cash or stock
options. In the event that a Liquidity Event has not occurred at the time the Deferred Compensation and Annual Bonus has accrued,
such Deferred Compensation and Annual Bonus, if any, shall be paid in additional stock options commensurate with the amount of
the additional compensation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the event that (i) the Company terminates
Mr. Gelly without &ldquo;cause&rdquo; (as defined in the J. Gelly Employment Agreement), (ii) Mr. Gelly resigns his employment
for &ldquo;good reason&rdquo; (as defined in the J. Gelly Employment Agreement) or (iii) the Company is acquired or is the non-surviving
party in a merger or sells all or substantially all of its assets, then, as soon as practicable after the date of termination,
(a) the Company shall pay Mr. Gelly a lump sum cash payment equivalent to the sum that Mr. Gelly would have been paid as the then
applicable annual salary plus Deferred Compensation plus Annual Bonus from the date of termination through a twenty-four (24) month
period plus the amount of any awarded but unpaid annual incentive bonus for the then previous year; (b) to the extent not already
vested, all options or other benefits provided for in the J. Gelly Agreement shall vest; and (c)any restricted shares held by Mr.
Gelly, and any shares obtained by Mr. Gelly via exercise of options, shall immediately be eligible, without any further condition
or qualification, to be registered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with his appointment as CEO,
the Company granted to James Gelly non-plan options to purchase 500,000 shares of common stock of the Company with a five year
term, vesting as to one-third of the shares on each of the Effective Date and the first and second anniversaries of the date of
the Effective Date, exercisable at an exercise price of $2.15 per share (the &ldquo;J. Gelly Options&rdquo;). The J. Gelly Options
were not registered under the Securities act of 1933, as amended (the &ldquo;Securities Act&rdquo;) and qualified for exemption
under Section 4(2) of the Securities Act because the Company&rsquo;s issuance of the J. Gelly Options did not involve a public
offering. The offering was not a &ldquo;public offering&rdquo; as defined in section 4(2) of the Securities Act due to the insubstantial
number of persons involved, size of the offering, manner of the offering and number of securities offered. The Company did not
undertake an offering in which it sold a high number of securities to a high number of investors. In addition, the grantees had
the necessary investment intent as required by Section 4(2) because each of them agreed to and received certificates bearing a
legend stating that such securities are restricted pursuant to rule 144 of the Securities Act. The restriction ensures that these
securities would not be immediately redistributed into the market and therefore not be part of a &ldquo;public offering.&rdquo;
Based on an analysis of the above factors, the Company has met the requirements to qualify for exemption under Section 4(2) of
the Securities Act for this transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>George Gelly</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Also effective as of the Effective Date,
the Company appointed George Gelly as its chief operating officer (&ldquo;COO&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Prior to such appointment, Mr. Gelly acted
as an independent consultant from August 2014 to January 2015. Mr. Gelly served as SVP and Chief Product Officer for ID Analytics,
Inc., a division of LifeLock, Inc. (NYSE: LOCK) from November 2013 to August 2014, and Director of Product Delivery for Intuit
Inc&rsquo;s (NASDAQ: INTU) Consumer Group and Health Group from January 2009 to September 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with his appointment as COO,
George Gelly entered into an employment agreement with the Company (the &ldquo;G. Gelly Employment Agreement&rdquo;) setting out
his compensation and duties and providing for Mr. Gelly to serve as COO until either he or the Company terminates the Employment
Agreement by giving ten (10) days&rsquo; notice to the non-terminating party. The G. Gelly Employment Agreement provides that Mr.
Gelly shall receive a base salary of $150,000 per year. In addition to the base salary, Mr. Gelly shall receive as deferred compensation
the amount of $100,000 which shall accrue monthly (the &ldquo;Deferred Compensation&rdquo;). In addition, at the sole discretion
of the Company&rsquo;s chairman, Mr. Gelly shall be entitled to an annual performance bonus equal to one third of his then existing
base salary (the &ldquo;Annual Bonus&rdquo;). If there is (a) a substantial equity transaction (as determined by the Chairman)
or (b) sale of all or substantially all of the stock or assets of the Company in a capital transaction (whether by merger, asset
or stock sale) (either, a &ldquo;Liquidity Event&rdquo;), at Mr. Gelly&rsquo;s election, such Deferred Compensation and Annual
Bonus, if any, may be received in cash or stock options. In the event that a Liquidity Event has not occurred at the time the Deferred
Compensation and Annual Bonus has accrued, such Deferred Compensation and Annual Bonus, if any, shall be paid in additional stock
options commensurate with the amount of the additional compensation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the event that (i) the Company terminates
Mr. Gelly without &ldquo;cause&rdquo; (as defined in the G. Gelly Employment Agreement), (ii) Mr. Gelly resigns his employment
for &ldquo;good reason&rdquo; (as defined in the G. Gelly Employment Agreement) or (iii) the Company is acquired or is the non-surviving
party ion a merger, or sells all or substantially all of its assets, then, as soon as practicable after the date of termination,
(a) the Company shall pay Mr. Gelly a lump sum cash payment equivalent to the sum that Executive would have been paid as the then
applicable annual salary plus Deferred Compensation from the date of termination through a six (6) month period, plus the pro rata
amount of the total Annual Bonus awarded to Mr. Gelly in respect of the then previous year plus the amount of any awarded but unpaid
annual incentive bonus for the then previous year; (b) to the extent not already vested, all options or other benefits provided
for in this Agreement shall vest; and (c) any restricted shares held by Mr. Gelly, and any shares obtained by Mr. Gelly via exercise
of options, shall immediately be eligible, without any further condition or qualification, to be registered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with his appointment as COO,
the Company granted to George Gelly non-plan options to purchase 450,000 shares of common stock of the Company with a five year
term, vesting as to one-third of the shares on each of the Effective Date and the first and second anniversaries of the date of
the Effective Date, exercisable at an exercise price of $2.15 per share (the &ldquo;G. Gelly Options&rdquo;). The G. Gelly Options
were not registered under the Securities act of 1933, as amended (the &ldquo;Securities Act&rdquo;) and qualified for exemption
under Section 4(2) of the Securities Act because the Company&rsquo;s issuance of the G. Gelly Options did not involve a public
offering. The offering was not a &ldquo;public offering&rdquo; as defined in section 4(2) of the Securities Act due to the insubstantial
number of persons involved, size of the offering, manner of the offering and number of securities offered. The Company did not
undertake an offering in which it sold a high number of securities to a high number of investors. In addition, the grantees had
the necessary investment intent as required by Section 4(2) because each of them agreed to and received certificates bearing a
legend stating that such securities are restricted pursuant to rule 144 of the Securities Act. The restriction ensures that these
securities would not be immediately redistributed into the market and therefore not be part of a &ldquo;public offering.&rdquo;
Based on an analysis of the above factors, the Company has met the requirements to qualify for exemption under Section 4(2) of
the Securities Act for this transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Confidentiality, Non-Competition and
Non-Solicitation Agreements</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As required by the Employment Agreements,
James and George Gelly also entered into Confidentiality, Non Competition and Non-Solicitation Agreements with the Company, under
which each agrees, among other things, that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">during his employment and for a period of two years after the termination of his employment, he
will not, directly or indirectly:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">i.</TD><TD STYLE="text-align: justify">engage or participate or make any financial investments in, or become employed by or render advisory
or other services to, any third party that is engaged in the development, design, manufacture, construction, operation, or sale
of automated parking systems or automated self storage systems; or</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">ii.</TD><TD STYLE="text-align: justify">approach, solicit, raid, entice, or induce any employee of the Company to be employed by any third
party, or conduct business with or otherwise solicit any customer or potential customer of the Company for the benefit of Executive
or any other third party; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">he will not, either during or at any time after his employment with Boomerang, to communicate or
disclose to, or use for the benefit of Executive or any third party, any of the Company&rsquo;s confidential information in any
form, whether maintained in written, electronic, pictorial, or verbal form.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Family Relationships</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">James Gelly and George Gelly are brothers.
Neither James nor George Gelly has any family relationship with any of the other officers or directors of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Related Party Transactions</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">James Gelly has provided consulting services
to the Company from January 2013. On February 27, 2014, the Company issued to James Gelly options under its 2012 Stock Option
Plan to purchase 303,625 shares of common stock of the Company, with a five-year term, vesting immediately, at an exercise price
of $1.51, in lieu of payment of approximately $166,000 of cash compensation. On November 17, 2014, the Company issued to James
Gelly non-plan options to purchase 275,169 shares of common stock of the Company, with a five year term, vesting immediately at
an exercise price of $2.15, in lieu of payment of approximately $195,000 of cash compensation. The Company has accrued an additional
$35,000 of compensation expense related to consulting services provided by James Gelly through the Effective Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Additionally, James Gelly is a lender to
the Company under that certain Loan and Security Agreement dated as of June 6, 2013. James Gelly committed to lend to the Company
$400,000, of which the Company has drawn down $240,000 of borrowings. As consideration for such loans, the Company has issued to
James Gelly a $240,000 principal amount note and warrants to purchase 111,632 shares of common stock at an exercise price of $2.15
per share at any time prior to June 6, 2018. The notes bear interest at the rate of 15% per annum, payable upon maturity. The maturity
date of the notes is May 31, 2016, subject to earlier prepayment upon acceleration of the occurrence of an event of default.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">George Gelly has provided consulting services to the Company
from July 2014 through the Effective Date for which the Company has accrued $165,000 of compensation expense.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On September 9, 2014, the Company granted to George Gelly options
under its 2012 Stock Option Plan to purchase 50,000 shares of common stock of the Company, with a five-year term, vesting immediately,
at an exercise price of $2.35 as additional compensation for his consulting services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0">&nbsp;</TD>
    <TD STYLE="padding: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-align: left"><B>BOOMERANG SYSTEMS, INC.</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0">&nbsp;</TD>
    <TD STYLE="padding: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0">&nbsp;</TD>
    <TD STYLE="padding: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding: 0"><FONT STYLE="font-size: 10pt">Date:</FONT></TD>
    <TD STYLE="width: 40%; border-bottom: black 1pt solid; padding: 0 0 0 5pt"><FONT STYLE="font-size: 10pt">January 20, 2015</FONT></TD>
    <TD STYLE="width: 5%; padding: 0">&nbsp;</TD>
    <TD STYLE="width: 5%; padding: 0"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 45%; border-bottom: black 1pt solid; padding: 0 0 0 5pt"><FONT STYLE="font-size: 10pt">/s/ Mark R. Patterson </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0 0 0 5pt">&nbsp;</TD>
    <TD STYLE="padding: 0 0 0 5pt">&nbsp;</TD>
    <TD STYLE="padding: 0 0 0 5pt">&nbsp;</TD>
    <TD STYLE="padding: 0 0 0 5pt">&nbsp;</TD>
    <TD STYLE="padding: 0 0 0 5pt"><FONT STYLE="font-size: 10pt">Mark R. Patterson</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0 0 0 5pt">&nbsp;</TD>
    <TD STYLE="padding: 0 0 0 5pt">&nbsp;</TD>
    <TD STYLE="padding: 0 0 0 5pt">&nbsp;</TD>
    <TD STYLE="padding: 0 0 0 5pt">&nbsp;</TD>
    <TD STYLE="padding: 0 0 0 5pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chairman</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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