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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001337851-11-000004.txt : 20110210
<SEC-HEADER>0001337851-11-000004.hdr.sgml : 20110210
<ACCEPTANCE-DATETIME>20110210163454
ACCESSION NUMBER:		0001337851-11-000004
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20110209
FILED AS OF DATE:		20110210
DATE AS OF CHANGE:		20110210

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:			NEW 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:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-30853
		FILM NUMBER:		11593032

	BUSINESS ADDRESS:	
		STREET 1:		1000 SOUTH POINTE DRIVE
		STREET 2:		SUITE 1508
		CITY:			MIAMI BEACH
		STATE:			FL
		ZIP:			33139
		BUSINESS PHONE:		504-231-3714

	MAIL ADDRESS:	
		STREET 1:		1000 SOUTH POINTE DRIVE
		STREET 2:		SUITE 1508
		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>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2011-02-09</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001337851</rptOwnerCik>
            <rptOwnerName>Praetorian Capital Management LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1000 SOUTH POINTE DRIVE</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 1508</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, par value $0.0001</value>
            </securityTitle>
            <transactionDate>
                <value>2011-02-09</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>100000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.6766</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1184000</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.

Praetorian Offshore Ltd. owns 1,184,000 shares, after a sale of 100,000 shares on February 9, 2011.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Wesley N. Cooper</signatureName>
        <signatureDate>2011-02-10</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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