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

<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"><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
Securities Exchange Act of 1934</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 56%; text-autospace: none; font-size: 10pt; text-align: justify">Date of Report (Date of earliest event reported)</TD>
    <TD STYLE="width: 44%; border-bottom: black 1pt solid; text-autospace: none; font-size: 10pt; font-weight: bold; text-align: center">May 10, 2012</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-bottom: black 1pt solid; text-autospace: none; font-size: 10pt; font-weight: bold; text-align: center">GLOBAL AXCESS CORP.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; font-size: 10pt; text-align: center">(Exact name of registrant as specified in its charter)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; border-bottom: black 1pt solid; text-autospace: none; font-size: 10pt; font-weight: bold; text-align: center">Nevada</TD>
    <TD STYLE="width: 37%; border-bottom: black 1pt solid; text-autospace: none; font-size: 10pt; font-weight: bold; text-align: center">000-17874</TD>
    <TD STYLE="width: 30%; border-bottom: black 1pt solid; text-autospace: none; font-size: 10pt; font-weight: bold; text-align: center">88-0199674</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <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="text-autospace: none; font-size: 10pt; text-align: center">(Commission File Number)</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(IRS Employer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Identification No.)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 70%; border-bottom: black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">7800 Belfort Parkway, Suite 165, Jacksonville, Florida</TD>
    <TD STYLE="width: 30%; border-bottom: black 1pt solid; text-autospace: none; font-size: 10pt; font-weight: bold; text-align: center">32256</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; font-size: 10pt; text-align: center">(Address of principal executive offices)</TD>
    <TD STYLE="text-autospace: none; font-size: 10pt; text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 56%; text-autospace: none; font-size: 10pt">Registrant&rsquo;s telephone number, including area code</TD>
    <TD STYLE="width: 44%; border-bottom: black 1pt solid; text-autospace: none; font-size: 10pt; font-weight: bold; text-align: center">(904) 280-3950</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-bottom: black 1pt solid; text-autospace: none; font-size: 10pt; font-weight: bold; text-align: center">N/A</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; font-size: 10pt; text-align: center">(Former name or former address, if changed since last report)</TD></TR>
</TABLE>
<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"><FONT STYLE="font-size: 10pt; color: black">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):</FONT></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"><FONT STYLE="font-family: Wingdings">&uml;</FONT> 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"><FONT STYLE="font-family: Wingdings">&uml;</FONT> 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"><FONT STYLE="font-family: Wingdings">&uml;</FONT> 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"><FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1.01&nbsp;&nbsp;&nbsp;Entry into a Material Definitive
Agreement.</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">On May 10, 2012, Global Axcess Corp., a
Nevada corporation (the &ldquo;Company&rdquo;), entered into a modification (the &ldquo;Third Amendment&rdquo;) of an existing
credit facility with Fifth Third. The Third Amendment relates to a Loan and Security Agreement (the &ldquo;Loan and Security Agreement&rdquo;)
and corresponding $5.0 million term note that were entered into and issued by the Company to Fifth Third on June 18, 2010, and
several draw loan credit facilities that were extended to the Company pursuant thereto in 2011. The Loan and Security Agreement
was previously amended by the first amendment, entered into December 17, 2010 (the &ldquo;First Amendment&rdquo;), and the second
amendment entered into January 6, 2012 (the &ldquo;Second Amendment&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Third Amendment amends Section 10.3
of the Loan and Security Agreement, and each of the related draw loans from 2011 to temporarily adjust the liquidity covenant of
the Company. Under the terms of the amended Section 10.3, the Company must maintain, on a consolidated basis, an average balance
of at least $850,000 of unencumbered liquid assets, measured quarterly, from January 1, 2012 to September 30, 2012. After September
30, 2012, this covenant reverts back to $1,200,000, the amount originally contained in the Loan and Security Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Except as modified by the Third Amendment,
the terms of the Loan and Security Agreement, and related draw loans, as modified by the First Amendment and Second Amendment,
remain in full force and effect.</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">The foregoing description of the Third Amendment
is qualified in its entirety by reference to the text of the Third Amendment, a copy of which is filed herewith as <U>Exhibit 4.1</U>.</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"><B>Item 2.02&nbsp;&nbsp;&nbsp;Results of Operations and Financial
Condition.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On May 15, 2012, the Company announced its
results of operations for the first quarter ended March 31, 2012. A copy of the related press release is being filed as <U>Exhibit
99.1</U> to this Form 8-K and is incorporated herein by reference in its entirety. The earnings release contains non-GAAP financial
measures. EBITDA has been presented in order to assist in the analysis of the operating profitability of the Company because the
Company believes this form of measurement eliminates the effects of non-operating expenses and non-cash charges. Management reviews
this form of measurement monthly.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The information in this Form 8-K and the
exhibit attached hereto shall not be deemed &ldquo;filed&rdquo; for purposes of Section 18 of the Securities Exchange Act of 1934,
as amended (the &ldquo;Exchange Act&rdquo;), and shall not be deemed incorporated by reference in any filing under the Securities
Act of 1933, as amended (the &ldquo;Securities Act&rdquo;) or the Exchange Act, except as shall be expressly set forth by specific
reference in such filing.</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"><B>Item 9.01&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits.</B></P>

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

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<TD STYLE="width: 0.5in; text-align: left"><B>(d)</B></TD><TD STYLE="text-align: justify"><B>Exhibits.</B></TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>4.1</B></TD><TD>Amendment to Global Axcess Loan and Security Agreement, entered May 10, 2012, effective as of January 1, 2012, by and between
Global Axcess Corp. (and affiliates) and Fifth Third Bank.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>99.1</B></TD><TD>Press Release, dated May 15, 2012, issued by Global Axcess Corp.</TD></TR></TABLE>

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

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<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>SIGNATURES</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-autospace: none; font-weight: bold">GLOBAL AXCESS CORP.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-autospace: none; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 5%; text-autospace: none; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 45%; text-autospace: none; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">Dated:&nbsp; May 15, 2012</TD>
    <TD STYLE="text-autospace: none">By:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-autospace: none; font-style: italic">/s/ Michael J. Loiacono</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">Name:</TD>
    <TD STYLE="text-autospace: none">Michael J. Loiacono</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">Title:</TD>
    <TD STYLE="text-autospace: none">Chief Financial Officer</TD></TR>
</TABLE>
<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; text-align: center"><B>EXHIBIT INDEX</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%; text-autospace: none; font-weight: bold; text-decoration: none; border-bottom: Black 1pt solid">Exhibit</TD>
    <TD STYLE="width: 5%; text-autospace: none">&nbsp;</TD>
    <TD STYLE="width: 87%; text-autospace: none; font-weight: bold; text-decoration: none; border-bottom: Black 1pt solid">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; font-weight: bold">4.1</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">Amendment to Global Axcess Loan and Security Agreement, entered May 10, 2012, effective as of January 1, 2012, by and between Global Axcess Corp. (and affiliates) and Fifth Third Bank.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; font-weight: bold">99.1</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">Press Release, dated May 15, 2012, issued by Global Axcess Corp.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in">&nbsp;</P>

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{"company-data": {"conformed-name": "GLOBAL AXCESS CORP", "cik": "0000852570", "assigned-sic": "7389", "irs-number": "880199674", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-17874", "film-number": "12844956"}, "business-address": {"street1": "7800 BELFORT PARKWAY", "street2": "SUITE 165", "city": "JACKSONVILLE", "state": "FL", "zip": "32256", "phone": "9042803950"}, "mail-address": {"street1": "7800 BELFORT PARKWAY", "street2": "SUITE 165", "city": "JACKSONVILLE", "state": "FL", "zip": "32256"}, "former-company": [{"former-conformed-name": "NETHOLDINGS COM INC", "date-changed": "20001113"}, {"former-conformed-name": "XPLORER S A", "date-changed": "19960903"}, {"former-conformed-name": "GERANT INDUSTRIES INC", "date-changed": "19930513"}]}
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 10, 2012
GLOBAL AXCESS CORP.
(Exact name of registrant as specified in its charter)
Nevada
000-17874
88-0199674
(State or other jurisdiction
of incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
7800 Belfort Parkway, Suite 165, Jacksonville, Florida
32256
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code
(904) 280-3950
N/A
(Former name or former address, if changed since last report)
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 1.01   Entry into a Material Definitive
Agreement.
On May 10, 2012, Global Axcess Corp., a
Nevada corporation (the "Company"), entered into a modification (the "Third Amendment") of an existing
credit facility with Fifth Third. The Third Amendment relates to a Loan and Security Agreement (the "Loan and Security Agreement")
and corresponding $5.0 million term note that were entered into and issued by the Company to Fifth Third on June 18, 2010, and
several draw loan credit facilities that were extended to the Company pursuant thereto in 2011. The Loan and Security Agreement
was previously amended by the first amendment, entered into December 17, 2010 (the "First Amendment"), and the second
amendment entered into January 6, 2012 (the "Second Amendment").
The Third Amendment amends Section 10.3
of the Loan and Security Agreement, and each of the related draw loans from 2011 to temporarily adjust the liquidity covenant of
the Company. Under the terms of the amended Section 10.3, the Company must maintain, on a consolidated basis, an average balance
of at least $850,000 of unencumbered liquid assets, measured quarterly, from January 1, 2012 to September 30, 2012. After September
30, 2012, this covenant reverts back to $1,200,000, the amount originally contained in the Loan and Security Agreement.
Except as modified by the Third Amendment,
the terms of the Loan and Security Agreement, and related draw loans, as modified by the First Amendment and Second Amendment,
remain in full force and effect.
The foregoing description of the Third Amendment
is qualified in its entirety by reference to the text of the Third Amendment, a copy of which is filed herewith as
Exhibit 4.1
.
Item 2.02   Results of Operations and Financial
Condition.
On May 15, 2012, the Company announced its
results of operations for the first quarter ended March 31, 2012. A copy of the related press release is being filed as
Exhibit
99.1
to this Form 8-K and is incorporated herein by reference in its entirety. The earnings release contains non-GAAP financial
measures. EBITDA has been presented in order to assist in the analysis of the operating profitability of the Company because the
Company believes this form of measurement eliminates the effects of non-operating expenses and non-cash charges. Management reviews
this form of measurement monthly.
The information in this Form 8-K and the
exhibit attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934,
as amended (the "Exchange Act"), and shall not be deemed incorporated by reference in any filing under the Securities
Act of 1933, as amended (the "Securities Act") or the Exchange Act, except as shall be expressly set forth by specific
reference in such filing.
Item 9.01   Financial Statements and Exhibits.
(d)
Exhibits.
4.1
Amendment to Global Axcess Loan and Security Agreement, entered May 10, 2012, effective as of January 1, 2012, by and between
Global Axcess Corp. (and affiliates) and Fifth Third Bank.
99.1
Press Release, dated May 15, 2012, issued by Global Axcess Corp.
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.
GLOBAL AXCESS CORP.
Dated:  May 15, 2012
By:
/s/ Michael J. Loiacono
Name:
Michael J. Loiacono
Title:
Chief Financial Officer
EXHIBIT INDEX
Exhibit
Description
4.1
Amendment to Global Axcess Loan and Security Agreement, entered May 10, 2012, effective as of January 1, 2012, by and between Global Axcess Corp. (and affiliates) and Fifth Third Bank.
99.1
Press Release, dated May 15, 2012, issued by Global Axcess Corp.