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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=4>UNITED STATES</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=4>SECURITIES AND EXCHANGE COMMISSION</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>WASHINGTON, DC 20549</font></B></p>


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<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><B><font SIZE=4>FORM 8-K</font></B></p>


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<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><B><font SIZE=2>CURRENT REPORT</font></B></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><b><font size=2>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></b></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><b><font size=2>Date of report: February 23, 2009</font></b></p>


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<p style=' margin-bottom:0pt; margin-top:16pt;text-align:center;'><B><font SIZE=2>PIPELINE DATA INC.</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Exact name of small business issuer in its charter)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Delaware</font></p> </td>
        <td width="208" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>7389</font></p> </td>
        <td width="184" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>13-3953764</font></p> </td> </tr>
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        <td width="168" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>(State or jurisdiction of</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>incorporation or organization)</font></p> </td>
        <td width="208" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>(Primary Standard Indus.</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>Classification Code Number)</font></p> </td>
        <td width="184" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>(I.R.S. Employer</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>Identification No)</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=1>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>1515 Hancock Street, Suite 301, Hancock Plaza</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><b><font size=2>Quincy, Massachusetts 02169</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>(617) 405-2600</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=1>(Address and telephone number of principal executive offices)</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=1>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Randal A. McCoy</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Pipeline Data Inc.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>4400 North Point Parkway</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Alpharetta, GA 30022</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>(687) 867-6000</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=1> (Name, address and telephone number of agent for service)</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>With copy to:</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Sheila G. Corvino, Esq.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Pipeline Data Inc.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>4400 Northpoint Parkway</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Alpharetta, GA 30022</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>(687) 867-6000</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Fax:  802-867-2468</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>1515 Hancock Street, Suite 301, Hancock Plaza</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><b><font size=2>Quincy, Massachusetts 02169</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2> (Former name or former address, if changed since last report)</font></b></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:0.5in;text-align:left;'><font size=2>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=' margin-bottom:0pt; margin-top:6pt; margin-left:0.5in; text-indent:-0.5in;text-align:left;'><font size=2><font face=Wingdings>o</font>Written  communications  pursuant to Rule 425 under the  Securities Act (17 CFR 230.425)</font></p>

<p style=' margin-bottom:0pt; margin-top:6pt; margin-left:0.5in; text-indent:-0.5in;text-align:left;'><font face=Wingdings>o</font> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p>

<p style=' margin-bottom:0pt; margin-top:6pt;text-align:left;'><font size=2><font face=Wingdings>o</font> Pre-commencement  communications  pursuant to Rule 14d-2(b)  under the Exchange Act (17 CFR 240.14d-2(b))</font></p>

<p style=' margin-bottom:0pt; margin-top:6pt;text-align:left;'>&nbsp;</p>

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<p style=' margin-bottom:0pt; margin-top:6pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><b><font size=2>Item 1.01 Entry into a Material Definitive Agreement.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:0.5in;text-align:left;'><font size=2>On February 17, 2009, we closed the restructuring our $37 million, 8% coupon convertible notes due June 29, 2010.  These notes have now been restructured to a $42.1 million loan, with a 10% coupon until June 30, 2010 and a 14% coupon until June 30, 2011.  The Company has the option to extend the notes for an additional year until June 30, 2012, at its sole discretion. As restructured, all convertible equity features have been removed from the notes and all11.1 million detached full-ratchet warrants have been terminated. The completion of the transactions contemplated by the Stock Purchase Agreement between our company and Holdings was a condition precedent to the effectiveness of restructuring Prior to closing of the transaction with Holdings, an Amendment No. 1 to the Securities Purchase Agreement among the more than 75% of the noteholders and our company (&#147;Amendment No. 1&#148;) was
executed and held in escrow by lenders&#146; counsel.  All noteholders have agreed to the restructured notes, which such restructuring is effective as of December 31, 2001.  The foregoing description of Amendment No. 1 does not purport to be a complete summary and is qualified in its entirety by reference to the full text which is attached hereto as Exhibit&nbsp;10.1.  A form of the Amended Notes is attached hereto as Exhibit 10.2.  </font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:0.5in;text-align:left;'><font size=2>The  information  in this  Form  8-K  is  being furnished  pursuant to Item 1.01  shall not be deemed to be &#147;filed&#148; for  purposes of Section 18 of the  Securities Exchange Act of 1934, as amended (the &#147;Exchange  Act&#148;), or otherwise  subject to the liability of that section,  and shall not be  incorporated by reference into any  registration  statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=2>Item 2.03. Creation of Direct Financial Obligation.</font></b></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:0.5in;text-align:left;'><font size=2>The information in Item&nbsp;1.01 of this Current Report on Form 8-K is incorporated by reference into this Item&nbsp;2.03.  </font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:0.5in;text-align:left;'><font size=2>The  information  in this  Form  8-K  is  being furnished  pursuant to Item 2.03 shall not be deemed to be &#147;filed&#148; for  purposes of Section 18 of the  Securities Exchange Act of 1934, as amended (the &#147;Exchange  Act&#148;), or otherwise  subject to the liability of that section,  and shall not be  incorporated by reference into any  registration  statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.</font></p>


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        <td width="415" nowrap valign=top style='padding:12.0pt 0in 0in 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=2>Item 3.03. Material Modification to Rights of Security Holders.</font></b></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:0.5in;text-align:left;'><font size=2>The information in Item&nbsp;1.01 of this Current Report on Form 8-K is incorporated by reference into this Item&nbsp;3.03.  </font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:0.5in;text-align:left;'><font size=2>The  information  in this  Form  8-K  is  being furnished  pursuant to Item 2.03 shall not be deemed to be &#147;filed&#148; for  purposes of Section 18 of the  Securities Exchange Act of 1934, as amended (the &#147;Exchange  Act&#148;), or otherwise  subject to the liability of that section,  and shall not be  incorporated by reference into any  registration  statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><b><font size=2>Item 8.01. Other Events.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:0.5in;text-align:left;'><font size=2>The information in Item&nbsp;1.01 of this Current Report on Form 8-K is incorporated by reference into this Item&nbsp;8.01.  </font></p>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:0.5in;text-align:left;'><font size=2>The  information  in this  Form  8-K  is  being furnished  pursuant to Item 8.01 &#147;Other Events&#148; shall not be deemed to be &#147;filed&#148; for  purposes of Section 18 of the  Securities Exchange Act of 1934, as amended (the &#147;Exchange  Act&#148;), or otherwise  subject to the liability of that section,  and shall not be  incorporated by reference into any  registration  statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.</font></p>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>&nbsp;</font></p>

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<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><B><font SIZE=2>SIGNATURES</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Pursuant to the  requirements  of the  Securities and Exchange Act of 1934, the  Registrant  has  caused  this  report  to be  signed  on its  behalf by the undersigned thereunto duly authorized.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="45" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Pipeline Data Inc.</font></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="45" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Dated:</font></p> </td>
        <td width="240" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><br> <font size=2> February 23, 2009</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="45" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>By:&nbsp;</font></p> </td>
        <td width="240" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>/s/ Randal A. McCoy</font></u><u></u></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="45" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="240" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="45" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="45" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Name:&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Randal A. McCoy</font></p> </td> </tr>
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        <td width="33" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="45" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="240" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="45" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="45" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Title:&nbsp;</font></p> </td>
        <td width="240" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Chief Executive Officer</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>



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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: February 23, 2009
PIPELINE DATA INC.
(Exact name of small business issuer in its charter)
Delaware
7389
13-3953764
(State or jurisdiction of
incorporation or organization)
(Primary Standard Indus.
Classification Code Number)
(I.R.S. Employer
Identification No)
1515 Hancock Street, Suite 301, Hancock Plaza
Quincy, Massachusetts 02169
(617) 405-2600
(Address and telephone number of principal executive offices)
Randal A. McCoy
Pipeline Data Inc.
4400 North Point Parkway
Alpharetta, GA 30022
(687) 867-6000
(Name, address and telephone number of agent for service)
With copy to:
Sheila G. Corvino, Esq.
Pipeline Data Inc.
4400 Northpoint Parkway
Alpharetta, GA 30022
(687) 867-6000
Fax:  802-867-2468
1515 Hancock Street, Suite 301, Hancock Plaza
Quincy, Massachusetts 02169
(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):
o
Written  communications  pursuant to Rule 425 under the  Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement  communications  pursuant to Rule 14d-2(b)  under the Exchange Act (17 CFR 240.14d-2(b))
Item 1.01 Entry into a Material Definitive Agreement.
On February 17, 2009, we closed the restructuring our $37 million, 8% coupon convertible notes due June 29, 2010.  These notes have now been restructured to a $42.1 million loan, with a 10% coupon until June 30, 2010 and a 14% coupon until June 30, 2011.  The Company has the option to extend the notes for an additional year until June 30, 2012, at its sole discretion. As restructured, all convertible equity features have been removed from the notes and all11.1 million detached full-ratchet warrants have been terminated. The completion of the transactions contemplated by the Stock Purchase Agreement between our company and Holdings was a condition precedent to the effectiveness of restructuring Prior to closing of the transaction with Holdings, an Amendment No. 1 to the Securities Purchase Agreement among the more than 75% of the noteholders and our company ("Amendment No. 1") was
executed and held in escrow by lenders' counsel.  All noteholders have agreed to the restructured notes, which such restructuring is effective as of December 31, 2001.  The foregoing description of Amendment No. 1 does not purport to be a complete summary and is qualified in its entirety by reference to the full text which is attached hereto as Exhibit 10.1.  A form of the Amended Notes is attached hereto as Exhibit 10.2.
The  information  in this  Form  8-K  is  being furnished  pursuant to Item 1.01  shall not be deemed to be "filed" for  purposes of Section 18 of the  Securities Exchange Act of 1934, as amended (the "Exchange  Act"), or otherwise  subject to the liability of that section,  and shall not be  incorporated by reference into any  registration  statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 2.03. Creation of Direct Financial Obligation.
The information in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
The  information  in this  Form  8-K  is  being furnished  pursuant to Item 2.03 shall not be deemed to be "filed" for  purposes of Section 18 of the  Securities Exchange Act of 1934, as amended (the "Exchange  Act"), or otherwise  subject to the liability of that section,  and shall not be  incorporated by reference into any  registration  statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 3.03. Material Modification to Rights of Security Holders.
The information in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 3.03.
The  information  in this  Form  8-K  is  being furnished  pursuant to Item 2.03 shall not be deemed to be "filed" for  purposes of Section 18 of the  Securities Exchange Act of 1934, as amended (the "Exchange  Act"), or otherwise  subject to the liability of that section,  and shall not be  incorporated by reference into any  registration  statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 8.01. Other Events.
The information in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 8.01.
The  information  in this  Form  8-K  is  being furnished  pursuant to Item 8.01 "Other Events" shall not be deemed to be "filed" for  purposes of Section 18 of the  Securities Exchange Act of 1934, as amended (the "Exchange  Act"), or otherwise  subject to the liability of that section,  and shall not be  incorporated by reference into any  registration  statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
SIGNATURES
Pursuant to the  requirements  of the  Securities and Exchange Act of 1934, the  Registrant  has  caused  this  report  to be  signed  on its  behalf by the undersigned thereunto duly authorized.
Pipeline Data Inc.
Dated:
February 23, 2009
By:
/s/ Randal A. McCoy
Name:
Randal A. McCoy
Title:
Chief Executive Officer