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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. (20549)
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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): June 9, 2006
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ILINC COMMUNICATIONS, INC.
(Exact name of Registrant as specified in its charter)
DELAWARE 76-0545043
(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
1-13725
(Commission File Number)
2999 NORTH 44TH STREET, SUITE 650, PHOENIX, ARIZONA 85018
(Address of principal executive offices) (Zip code)
(602) 952-1200
(Registrant's telephone number, including area code)
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ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
See Item 3.02 below.
ITEM 3.02 UNREGISTERED SALES OF EQUITY SECURITIES
On June 9, 2006, iLinc Communications, Inc. (the "Company) completed a private
placement of its common stock. The offering provides the Company with total
gross proceeds of $2,000,000 in exchange for 5.4 million shares of its common
stock, par value $.001. There were no warrants or other consideration provided
to the investors. The shares of common stock were not registered under the
Securities Act of 1933 and were offered in a private placement under Section
4(2) of the Securities Act. The offering was made to a limited number of
accredited investors without public solicitation or advertisement. The Company
was represented by Canaccord Adams, Inc. who acted as the placement agent.
Canaccord Adams, Inc. received a placement agent fee aggregating $180,000. The
shares of common stock were sold to accredited investors of which two were
institutions based in New York and London. Pursuant to a Registration Rights
Agreement entered into by the purchasers and the Company, the Company will file
a registration statement covering the shares of common stock within 30 days of
the closing. The proceeds from the sale of the common stock provide the Company
with general working capital to be used for continued investment in research and
development and capital expansion.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
The following exhibit is filed herewith:
EXHIBIT NUMBER DESCRIPTION
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99.1 Press release dated June 12, 2006, issued by iLinc
Communications, Inc. filed herewith.
SIGNATURE
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.
ILINC COMMUNICATIONS, INC.
By: /s/ James M. Powers, Jr.
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President and Chief Executive Officer
Date: June 13, 2006
EXHIBIT INDEX
EXHIBIT NUMBER DESCRIPTION OF EXHIBIT
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99.1 Copy of press release issued by iLinc Communications on
June 12, 2006.