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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001337851-06-000032.txt : 20060710
<SEC-HEADER>0001337851-06-000032.hdr.sgml : 20060710
<ACCEPTANCE-DATETIME>20060710081437
ACCESSION NUMBER:		0001337851-06-000032
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060706
FILED AS OF DATE:		20060710
DATE AS OF CHANGE:		20060710

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INTERNATIONAL MONETARY SYSTEMS LTD /WI/
		CENTRAL INDEX KEY:			0001097430
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		IRS NUMBER:				391924096
		STATE OF INCORPORATION:			WI
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		16901 WEST GLENDALE DR
		CITY:			NEW BERLIN
		STATE:			WI
		ZIP:			53151
		BUSINESS PHONE:		2627803640

	MAIL ADDRESS:	
		STREET 1:		16901 WEST GLENDALE DR
		CITY:			WEST BERLIN
		STATE:			WI
		ZIP:			53151

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Praetorian Capital Management LLC
		CENTRAL INDEX KEY:			0001337851
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1205

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-30853
		FILM NUMBER:		06952534

	BUSINESS ADDRESS:	
		STREET 1:		119 WASHINGTON AVENUE
		STREET 2:		SUITE 600
		CITY:			MIAMI BEACH
		STATE:			FL
		ZIP:			33139
		BUSINESS PHONE:		305-534-8210

	MAIL ADDRESS:	
		STREET 1:		119 WASHINGTON AVENUE
		STREET 2:		SUITE 600
		CITY:			MIAMI BEACH
		STATE:			FL
		ZIP:			33139
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-07-06</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001097430</issuerCik>
        <issuerName>INTERNATIONAL MONETARY SYSTEMS LTD /WI/</issuerName>
        <issuerTradingSymbol>INLM</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001337851</rptOwnerCik>
            <rptOwnerName>Praetorian Capital Management LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>119 WASHINGTON AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 600</rptOwnerStreet2>
            <rptOwnerCity>MIAMI BEACH</rptOwnerCity>
            <rptOwnerState>FL</rptOwnerState>
            <rptOwnerZipCode>33139</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, $.0001 par value</value>
            </securityTitle>
            <transactionDate>
                <value>2006-07-06</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>50000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.6569</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>11010000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">This Form 4 is being filed by Praetorian Capital Management LLC, a Delaware Limited Liability Company (the &quot;Management Company&quot;) which serves as investment manager or advisor to Praetorian Offshore Ltd. (the &quot;Fund&quot;) with respect to the shares identified in this filing.  The Management Company makes the investment and voting decisions on behalf of the Fund but owns no direct investments in the securities of the Issuer.  The Fund directly owns the shares of the Common Stock of the Issuer but does not make any decisions as to voting or buying or selling shares of the Issuer.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Harris B. Kupperman</signatureName>
        <signatureDate>2006-07-10</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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