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<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, D. C. 20549</B></P>

<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">______________</P>

<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></P>

<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>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</B></P>

<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">Date of Report (Date of earliest event reported):
May 2, 2012</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; text-align: center"><B>HELIOS AND MATHESON INFORMATION TECHNOLOGY
INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

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

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
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    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Delaware</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or Other Jurisdiction</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">of Incorporation)</P></TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>0-22945</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Commission File Number)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>13-3169913</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(I.R.S. Employer Identification No.)</P></TD></TR>
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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>Empire State Building </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>350 5<SUP>th</SUP> Avenue</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><B>New York, New York
10118</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of Principal Executive Offices)
(Zip Code)</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant&rsquo;s telephone number, including
area code: <B>(212) 979-8228</B></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; 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#9;<FONT STYLE="font-family: Wingdings 2">&pound;</FONT>&#9;Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</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">&#9;<FONT STYLE="font-family: Wingdings 2">&pound;</FONT>&#9;Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</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">&#9;<FONT STYLE="font-family: Wingdings 2">&pound;</FONT>&#9;Pre-commencement
communications pursuant to rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</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">&#9;<FONT STYLE="font-family: Wingdings 2">&pound;</FONT>&#9;Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)</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 0pt 13.2pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.2pt"><B>ITEM 5.02&#9;DEPARTURE OF DIRECTORS OR PRINCIPAL
OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS</B></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 0pt 13.2pt"><B>ITEM 5.02(d)</B></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 0pt 13.2pt; text-align: justify; text-indent: 23.1pt"><FONT STYLE="color: black">On
May 2, 2012, the Board of Directors of Helios and Matheson Information Technology Inc. (the &ldquo;Board&rdquo;) elected Mr. Viraj
Patel to serve as a member of the Board, filling a vacancy created by the Board&rsquo;s increase of the number of directorships
from four to five. The Board has determined that Mr. Patel is an independent director (</FONT>as independence is defined in NASDAQ
Rule 5605(a)(2) and Rule 10A-3(b)(1) of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;)) <FONT STYLE="color: black">and
qualifies </FONT>as an audit committee financial expert as defined in Item 407 of Regulation S-K under the Exchange Act (&ldquo;Regulation
S-K&rdquo;)<FONT STYLE="color: black">. The Board has also appointed </FONT>Mr. Patel <FONT STYLE="color: black">as a member of
the Audit Committee of the Board and as the Chairman of the Audit Committee. Mr. Patel has not been party to any transaction of
the type specified in Item 404 of Regulation S-K. Mr. Patel will be compensated at the rate of $2,500 per month, the same rate
of compensation as the other members of the Board. </FONT></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 0pt 13.5pt; text-align: justify; text-indent: 22.5pt">Mr. Viraj
Patel is a finance executive with over 25 years of multinational experience.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify; text-indent: 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify; text-indent: 22.5pt">Since September,
2010, Mr. Patel has served as Chief Financial Officer of Deeya Energy, Inc., a private company. From 2005 to 2010, Mr. Patel served
several roles such as Interim Chief Financial Officer, Vice President, Corporate Controller and Chief Accounting Officer of UTStarcom
Holdings Corp (NasdaqGS: UTSI). Mr. Patel served as Vice President of Finance of Nektar Therapeutics (NasdaqGS: NKTR) from 2004
to 2005 and as Chief Financial Officer of Avanti Corporation, a publicly traded company acquired by Synopsys (NasdaqGS: SNPS),
from 1999 to 2002. From 1989 to 1999, Mr. Patel had a progressive career with Pall Corporation (NYSE: PLL), culminating in his
position there as Chief Accounting Officer. Mr. Patel began his professional career at Pricewaterhouse (now PWC) in New York in
1982.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify; text-indent: 22.5pt">Mr. Patel
is a Certified Public Accountant in the State of New York and is a member of the New York State Society of CPAs and a member of
the American Institute of Certified Public Accountants.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify; text-indent: 0.5in">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"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0; margin-top: 0pt; margin-bottom: 6pt">&nbsp;</P>

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<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">HELIOS AND MATHESON</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">INFORMATION TECHNOLOGY INC&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">By:&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 46%">/s/ <U>Umesh Ahuja</U></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">Date:&nbsp;&nbsp;May 3, 2012</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: #000000 1px solid">Chief Financial
Officer<BR></TD></TR>
</TABLE>

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[{"type": "8-K", "sequence": "1", "filename": "v311930_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 12978}]
{"company-data": {"conformed-name": "Helios & Matheson Information Technology Inc.", "cik": "0001040792", "assigned-sic": "7380", "irs-number": "133169913", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-22945", "film-number": "12811900"}, "business-address": {"street1": "350 5TH AVENUE", "street2": "SUITE 7520", "city": "NEW YORK", "state": "NY", "zip": "10018", "phone": "2129798228"}, "mail-address": {"street1": "350 5TH AVENUE", "street2": "SUITE 7520", "city": "NEW YORK", "state": "NY", "zip": "10018"}, "former-company": [{"former-conformed-name": "Helios & Matheson North America Inc.", "date-changed": "20070130"}, {"former-conformed-name": "A CONSULTING TEAM INC", "date-changed": "19970611"}]}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 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):
May 2, 2012
HELIOS AND MATHESON INFORMATION TECHNOLOGY
INC.
(Exact name of registrant as specified in
its charter)
Delaware
(State or Other Jurisdiction
of Incorporation)
0-22945
(Commission File Number)
13-3169913
(I.R.S. Employer Identification No.)
Empire State Building
350 5
th
Avenue
New York, New York
10118
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including
area code:
(212) 979-8228
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:
£
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 5.02	DEPARTURE OF DIRECTORS OR PRINCIPAL
OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS
ITEM 5.02(d)
On
May 2, 2012, the Board of Directors of Helios and Matheson Information Technology Inc. (the "Board") elected Mr. Viraj
Patel to serve as a member of the Board, filling a vacancy created by the Board's increase of the number of directorships
from four to five. The Board has determined that Mr. Patel is an independent director (
as independence is defined in NASDAQ
Rule 5605(a)(2) and Rule 10A-3(b)(1) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"))
and
qualifies
as an audit committee financial expert as defined in Item 407 of Regulation S-K under the Exchange Act ("Regulation
S-K")
. The Board has also appointed
Mr. Patel
as a member of
the Audit Committee of the Board and as the Chairman of the Audit Committee. Mr. Patel has not been party to any transaction of
the type specified in Item 404 of Regulation S-K. Mr. Patel will be compensated at the rate of $2,500 per month, the same rate
of compensation as the other members of the Board.
Mr. Viraj
Patel is a finance executive with over 25 years of multinational experience.
Since September,
2010, Mr. Patel has served as Chief Financial Officer of Deeya Energy, Inc., a private company. From 2005 to 2010, Mr. Patel served
several roles such as Interim Chief Financial Officer, Vice President, Corporate Controller and Chief Accounting Officer of UTStarcom
Holdings Corp (NasdaqGS: UTSI). Mr. Patel served as Vice President of Finance of Nektar Therapeutics (NasdaqGS: NKTR) from 2004
to 2005 and as Chief Financial Officer of Avanti Corporation, a publicly traded company acquired by Synopsys (NasdaqGS: SNPS),
from 1999 to 2002. From 1989 to 1999, Mr. Patel had a progressive career with Pall Corporation (NYSE: PLL), culminating in his
position there as Chief Accounting Officer. Mr. Patel began his professional career at Pricewaterhouse (now PWC) in New York in
1982.
Mr. Patel
is a Certified Public Accountant in the State of New York and is a member of the New York State Society of CPAs and a member of
the American Institute of Certified Public Accountants.
SIGNATURES
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.
HELIOS AND MATHESON
INFORMATION TECHNOLOGY INC
By:
/s/
Umesh Ahuja
Date:  May 3, 2012
Chief Financial
Officer