0001654954-17-001566.txt : 20170301 0001654954-17-001566.hdr.sgml : 20170301 20170301152531 ACCESSION NUMBER: 0001654954-17-001566 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20170227 ITEM INFORMATION: Termination of a Material Definitive Agreement FILED AS OF DATE: 20170301 DATE AS OF CHANGE: 20170301 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Paybox Corp. CENTRAL INDEX KEY: 0000879703 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373] IRS NUMBER: 112895590 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-20660 FILM NUMBER: 17653714 BUSINESS ADDRESS: STREET 1: 500 EAST BROWARD BOULEVARD STREET 2: SUITE 1550 CITY: FORT LAUDERDALE STATE: FL ZIP: 33323 BUSINESS PHONE: 631-873-2900 MAIL ADDRESS: STREET 1: 500 EAST BROWARD BOULEVARD STREET 2: SUITE 1550 CITY: FORT LAUDERDALE STATE: FL ZIP: 33323 FORMER COMPANY: FORMER CONFORMED NAME: DIRECT INSITE CORP DATE OF NAME CHANGE: 20010323 FORMER COMPANY: FORMER CONFORMED NAME: COMPUTER CONCEPTS CORP /DE DATE OF NAME CHANGE: 19930328 8-K 1 pbox_8k.htm CURRENT REPORT Blueprint
 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
                                                        
FORM 8-K
CURRENT REPORT
PURSUANT TO
SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): February 27, 2017
               
PAYBOX CORP
(Exact Name of Registrant as Specified in Charter)
 
Delaware
0-20660
11-2895590
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(I.R.S. Employer Identification No.)
 
500 East Broward BoulevardSuite 1550Fort Lauderdale, Florida
(Address of Principal Executive Offices)
 
33394
(Zip Code)
 
Registrant’s telephone number, including area code: (954) 510-3750
 
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 (see General Instruction A.2. below):
 
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 

 
 
 
Item 1.02    Termination of a Material Definitive Agreement.
 
On February 27, 2017, Paybox Corp (the “Company”) was informed by International Business Machine Corporation (“IBM”) that IBM was terminating the larger of two agreements with the Company, whereby the Company provides e-invoice services to IBM’s operating units, effective September 1, 2017.   The agreement had been scheduled to expire on December 31, 2017, and IBM exercised its right under the agreement to terminate on 180 days advance notice.
Approximately 35.1% of the Company’s revenues were attributable to this agreement with IBM in the year ended December 31, 2016.  It is possible that the Company may continue to provide certain services relating to this agreement on a month-to-month basis following termination.

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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, Paybox Corp has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
PAYBOX CORP
 
 
 
 
 
Dated: March 1, 2017
By:  
/s/  Lowell Rush
 
 
 
 Lowell Rush
 
 
 
 Chief Financial Officer
 

 

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