<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></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-top: 0pt; margin-bottom: 0pt; 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="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: justify">Date of Report (Date of earliest event reported)</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">August 20, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="border-bottom: black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">GLOBAL AXCESS CORP.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font-size: 10pt; text-align: center">(Exact name of registrant as specified in its charter)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Nevada</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">000-17874</TD>
    <TD STYLE="border-bottom: black 1pt solid; 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 COLSPAN="2" STYLE="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>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">7800 Belfort Parkway, Suite 165, Jacksonville, Florida</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">32256</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: center">(Address of principal executive offices)</TD>
    <TD STYLE="font-size: 10pt; text-align: center">(Zip Code)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt">Registrant&rsquo;s telephone number, including area code</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">(904) 280-3950</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="border-bottom: black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">N/A</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font-size: 10pt; text-align: center">(Former name or former address, if changed since last report)</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="width: 165px">&nbsp;</TD>
    <TD STYLE="width: 109px">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="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; text-align: justify">&nbsp;</P>

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

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

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

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

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<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; text-align: justify"><B>Item 2.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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-align: justify; text-indent: 0.5in">On August 20, 2012,
Global Axcess Corp. (the &ldquo;<B>Company</B>&rdquo;) announced its results of operations for the second quarter ended June 30,
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-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">The information in
this Form 8-K in Item 2.02 and <U>Exhibit 99.1</U> 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;<B>Exchange Act</B>&rdquo;), and shall not be deemed incorporated
by reference in any filing under the Securities Act of 1933, as amended (the &ldquo;<B>Securities Act</B>&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; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 5.02. &nbsp;&nbsp;&nbsp;&nbsp;Departure of Directors or
Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</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"><B>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>On
August 20, 2012, Lock Ireland resigned his position as interim Chief Executive Officer of the Company. Mr. Ireland will remain
as a member of the board of directors of the Company.</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; text-align: justify; text-indent: 0.5in"><B>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>On
August 20, 2012, the board of directors of the Company appointed Kevin L. Reager to serve as the new Chief Executive Officer of
the Company. Mr. Reager will begin his employment with the Company on August 21, 2012.</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; text-align: justify; text-indent: 0.5in">Mr. Reager has extensive
experience in the ATM/debit card industries. He previously held senior management positions with eFunds Corporation, a U.S.-based,
billion dollar NYSE listed technology company. While there, he was instrumental in stabilizing the largest non-bank ATM program
in the United States and Canada and led the successful sale of the portfolio. In addition, as the executive responsible for the
domestic ATM and Processing business of eFunds India, he led the integration of a major acquisition and executed the largest third
party ATM servicing agreement in India. He also worked on corporate acquisitions in the United Kingdom, Canada and the United States
and consulted on several ATM projects in Latin America and continental Europe.</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; text-align: justify; text-indent: 0.5in">Previously, Mr. Reager
spent 15 years with Bank of America in various retail delivery, finance and technology roles. Under his leadership, the number
of non-banking center ATMs grew from 1,500 to over 8,000 ATMs. More recently, he held the position of CEO of Innovus, Inc., a U.S.-based
processor of debit and pre-paid card transactions. In this role, he led Innovus to the largest deployment agreement and annual
organic growth in the company&rsquo;s history. Mr. Reager is a Certified Public Accountant (inactive status) and began his career
with Peat Marwick and Mitchell CPA&rsquo;s (now KPMG). He is an internationally recognized expert on the ATM / Debit Card industries
having spoken at industry conferences throughout the world.</P>

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

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<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">Mr. Reager&rsquo;s
employment with the Company as Chief Executive Officer is governed by the terms of his offer of employment. Mr. Reager and the
Company intend to reduce the terms of his employment with the Company to an Employment Agreement.</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">In accordance with
the Company&rsquo;s offer of employment to Mr. Reager, he will receive an annual salary in the amount of $225,000. He will also
be eligible for a cash bonus of 50% of his earned base salary at a 100% target achievement level of certain performance based metrics.</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">In addition, Mr. Reager
will be granted options to purchase 700,000 shares of the Company&rsquo;s common stock, as of August 23, 2012, with a strike price
to be determined as of such date. The options will vest in accordance with certain performance metrics related to the market price
of the Company&rsquo;s common stock. Specifically, the options vest, if at all, ratably between 0-100% for a 30 day sustained market
price per share of common stock achievement between $0.50 and $1.20. In effect, 1.4286% of the granted option vests for every $0.01
above $0.50 per share at which the common stock trades at for at least 30 consecutive days. The options would become fully vested
upon a change of control or other specified event of corporate reorganization. The options will expire 5 years from the date of
grant.</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">Mr. Reager will also
be entitled to severance pay equal to 2 months salary for any separation of his employment without cause within the first nine
months of his employment. After the first nine months of his employment, he will be entitled to 6 months salary for any separation
of his employment without cause.</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">If a change of control
of the Company occurs, Mr. Reager will be entitled to 4 months salary for any change of control within the first nine months of
his employment; or 12 months salary for any change of control after the first nine months of his employment.</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">Mr. Reager is also
entitled to participate in the Company&rsquo;s standard employee benefits plans, and is entitled to 4 weeks (20 days) of paid vacation
per year.</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">Mr. Reager will be
subject to certain non-compete and non-solicitation covenants in consideration for his employment with the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>On
August 20, 2012, Mr. Reager was also appointed to serve on the board of directors of the Company. There are no arrangements or
understandings with respect to his service on the board of directors, beyond those arrangements and understandings between Mr.
Reager and the Company with respect to his employment, as described in Item 5.02(c) above. Mr. Reager does not currently serve
on any committees of the board of directors.</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; text-align: justify; text-indent: 0.5in"><B>(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Mr.
Reager has compensation arrangements with the Company based on his offer of employment that are described in Item 5.02(c) above,
and are incorporated herein by reference.</P>

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

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<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; text-align: justify"><B>Item 7.01&nbsp;&nbsp;&nbsp; Regulation FD Disclosure.</B></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; text-align: justify; text-indent: 0.5in">On August 20, 2012,
the Company issued a Press Release announcing Mr. Reager&rsquo;s appointment as the new Chief Executive Officer of the Company,
and his election to the board of directors. A copy of the Press Release is attached hereto as <U>Exhibit 99.2</U>.</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; text-align: justify; text-indent: 0.5in">The information in
this Form 8-K in Item 7.01 and <U>Exhibit 99.2</U> attached hereto shall not be deemed &ldquo;filed&rdquo; for purposes of Section
18 of the Exchange Act, and shall not be deemed incorporated by reference in any filing under the Securities Act 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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 9.01&nbsp;&nbsp;&nbsp;&nbsp;Financial
Statements and Exhibits.</B></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; text-align: justify; text-indent: 0.5in"><B>(d)&nbsp;Exhibits.</B></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; text-align: justify; text-indent: 0.5in"><B>99.1&nbsp;&nbsp;&nbsp;</B>Press
Release, dated August 20, 2012, issued by Global Axcess Corp.</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; text-align: justify; text-indent: 0.5in"><B>99.2&nbsp;&nbsp;&nbsp;</B>Press
Release, dated August 20, 2012, issued by Global Axcess Corp.</P>

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

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<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-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: justify">GLOBAL AXCESS CORP.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: justify; width: 50%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: justify; width: 5%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Dated:&nbsp; August 23, 2012</TD>
    <TD>By: <I></I></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><I>/s/ Michael J. Loiacono</I></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name:&nbsp; </TD>
    <TD>Michael J. Loiacono&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title: </TD>
    <TD>Chief Financial Officer&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<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>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: 7%; font-weight: bold; border-bottom: Black 1pt solid">Exhibit</TD>
    <TD STYLE="width: 2%; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 91%; font-weight: bold; border-bottom: Black 1pt solid">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: justify">99.1</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Press Release, dated August 20, 2012, issued by Global Axcess Corp.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: justify">99.2</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Press Release, dated August 20, 2012, issued by Global Axcess Corp.</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"></P>

<!-- Field: Page; Sequence: 6; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
[{"type": "8-K", "sequence": "1", "filename": "v322306_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 26614}]
{"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": "121052419"}, "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)
August 20, 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 2.02         Results
of Operations and Financial Condition.
On August 20, 2012,
Global Axcess Corp. (the "
Company
") announced its results of operations for the second quarter ended June 30,
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 in Item 2.02 and
Exhibit 99.1
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 5.02.     Departure of Directors or
Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b)
On
August 20, 2012, Lock Ireland resigned his position as interim Chief Executive Officer of the Company. Mr. Ireland will remain
as a member of the board of directors of the Company.
(c)
On
August 20, 2012, the board of directors of the Company appointed Kevin L. Reager to serve as the new Chief Executive Officer of
the Company. Mr. Reager will begin his employment with the Company on August 21, 2012.
Mr. Reager has extensive
experience in the ATM/debit card industries. He previously held senior management positions with eFunds Corporation, a U.S.-based,
billion dollar NYSE listed technology company. While there, he was instrumental in stabilizing the largest non-bank ATM program
in the United States and Canada and led the successful sale of the portfolio. In addition, as the executive responsible for the
domestic ATM and Processing business of eFunds India, he led the integration of a major acquisition and executed the largest third
party ATM servicing agreement in India. He also worked on corporate acquisitions in the United Kingdom, Canada and the United States
and consulted on several ATM projects in Latin America and continental Europe.
Previously, Mr. Reager
spent 15 years with Bank of America in various retail delivery, finance and technology roles. Under his leadership, the number
of non-banking center ATMs grew from 1,500 to over 8,000 ATMs. More recently, he held the position of CEO of Innovus, Inc., a U.S.-based
processor of debit and pre-paid card transactions. In this role, he led Innovus to the largest deployment agreement and annual
organic growth in the company's history. Mr. Reager is a Certified Public Accountant (inactive status) and began his career
with Peat Marwick and Mitchell CPA's (now KPMG). He is an internationally recognized expert on the ATM / Debit Card industries
having spoken at industry conferences throughout the world.
Mr. Reager's
employment with the Company as Chief Executive Officer is governed by the terms of his offer of employment. Mr. Reager and the
Company intend to reduce the terms of his employment with the Company to an Employment Agreement.
In accordance with
the Company's offer of employment to Mr. Reager, he will receive an annual salary in the amount of $225,000. He will also
be eligible for a cash bonus of 50% of his earned base salary at a 100% target achievement level of certain performance based metrics.
In addition, Mr. Reager
will be granted options to purchase 700,000 shares of the Company's common stock, as of August 23, 2012, with a strike price
to be determined as of such date. The options will vest in accordance with certain performance metrics related to the market price
of the Company's common stock. Specifically, the options vest, if at all, ratably between 0-100% for a 30 day sustained market
price per share of common stock achievement between $0.50 and $1.20. In effect, 1.4286% of the granted option vests for every $0.01
above $0.50 per share at which the common stock trades at for at least 30 consecutive days. The options would become fully vested
upon a change of control or other specified event of corporate reorganization. The options will expire 5 years from the date of
grant.
Mr. Reager will also
be entitled to severance pay equal to 2 months salary for any separation of his employment without cause within the first nine
months of his employment. After the first nine months of his employment, he will be entitled to 6 months salary for any separation
of his employment without cause.
If a change of control
of the Company occurs, Mr. Reager will be entitled to 4 months salary for any change of control within the first nine months of
his employment; or 12 months salary for any change of control after the first nine months of his employment.
Mr. Reager is also
entitled to participate in the Company's standard employee benefits plans, and is entitled to 4 weeks (20 days) of paid vacation
per year.
Mr. Reager will be
subject to certain non-compete and non-solicitation covenants in consideration for his employment with the Company.
(d)
On
August 20, 2012, Mr. Reager was also appointed to serve on the board of directors of the Company. There are no arrangements or
understandings with respect to his service on the board of directors, beyond those arrangements and understandings between Mr.
Reager and the Company with respect to his employment, as described in Item 5.02(c) above. Mr. Reager does not currently serve
on any committees of the board of directors.
(e)
Mr.
Reager has compensation arrangements with the Company based on his offer of employment that are described in Item 5.02(c) above,
and are incorporated herein by reference.
Item 7.01    Regulation FD Disclosure.
On August 20, 2012,
the Company issued a Press Release announcing Mr. Reager's appointment as the new Chief Executive Officer of the Company,
and his election to the board of directors. A copy of the Press Release is attached hereto as
Exhibit 99.2
.
The information in
this Form 8-K in Item 7.01 and
Exhibit 99.2
attached hereto shall not be deemed "filed" for purposes of Section
18 of the Exchange Act, and shall not be deemed incorporated by reference in any filing under 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.
99.1
Press
Release, dated August 20, 2012, issued by Global Axcess Corp.
99.2
Press
Release, dated August 20, 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:  August 23, 2012
By:
/s/ Michael J. Loiacono
Name:
Michael J. Loiacono
Title:
Chief Financial Officer
EXHIBIT INDEX
Exhibit
Description
99.1
Press Release, dated August 20, 2012, issued by Global Axcess Corp.
99.2
Press Release, dated August 20, 2012, issued by Global Axcess Corp.