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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">SECURITIES AND EXCHANGE COMMISSION</font></div>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">WASHINGTON, D.C. 20549</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">FORM 8-K</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">CURRENT REPORT</font></div>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">PURSUANT TO SECTION 13 OR 15 (d) OF</font></div>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">THE SECURITIES EXCHANGE ACT OF 1934</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">August 3, 2009</font></div></td></tr><tr>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Date of Report (Date of earliest event reported)</font></div></td></tr></table></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">Hotel Outsource Management International, Inc.</font></div></td></tr><tr>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;(Exact Name of Registrant as Specified in Its Charter)</font></div></td></tr></table></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">Delaware</font></div></td>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">6719</font></div></td>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(State or Other Jurisdiction of</font></div></td>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Incorporation or Organization)</font></div></td>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Number</font></div></td>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Identification No.)</font></div></td></tr></table></div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font id="TAB2" style="FONT-SIZE: 12pt; LETTER-SPACING: 9pt; TEXT-DECORATION: underline">&#160;<font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">80 Wall Street, Suite 815, New York, New York</font></font></div></td>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(Address of Principal Executive Offices)</font></div></td>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(Former Name or former Address, if Changed Since Last Report)</font></div></td></tr></table></div>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Item 1.01- Entry into a Material Definitive Agreement</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">On August 3, 2009, Hotel Outsource Management International, Inc. (&#8220;HOMI&#8221;) entered into two loan agreements with related parties, Avraham Bahry, Chairman of the Board of Directors of HOMI, and Daniel Cohen, President of HOMI.&#160;&#160;Pursuant to the loan agreement with Mr. Bahry, Mr. Bahry will loan HOMI $100,000 for a maximum
period of four months. This loan bears interest at a rate of 6% per annum.&#160;&#160;At HOMI&#8217;s option, the loan and accrued interest may be converted into HOMI common stock at a rate per share equal to the price that is being offered to shareholders in HOMI's current rights offering (the &#8220;Rights Offering&#8221;).&#160;&#160;A registration statement for this Rights Offering was declared effective by the Commission on June 25, 2009.</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">However, in the event that the Rights Offering is subscribed for in full (including any over-subscription by subscribing shareholders), yielding gross proceeds of $800,000 for HOMI, then if, after exercise of Mr. Bahry&#8217;s rights in the Rights Offering and conversion of loans into shares, there shall still remain an outstanding balance
of the loan and accrued interest, as well as an outstanding balance and accrued interest on the loan of $200,000 by Mr. Bahry to HOMI dated May 12, 2009, then HOMI will pay the outstanding balance in cash, and not in shares within five days of the closing of the Rights Offering.</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Pursuant to the loan agreement with Mr. Cohen, Mr. Cohen will loan HOMI $25,000 for a maximum period of four months. This loan bears interest at a rate of 6% per annum.&#160;&#160;At HOMI&#8217;s option, the loan and accrued interest may be converted into HOMI common stock at a rate per share equal to the price that is being offered to
shareholders in HOMI's current rights offering (the &#8220;Rights Offering&#8221;).&#160;&#160;A registration statement for this Rights Offering was declared effective by the Commission on June 25, 2009.</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Exhibit No.</font></font></div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Loan Agreement by and between HOMI and Avraham Bahry dated August 3, 2009</font></div>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Loan Agreement by and between HOMI and Daniel Cohen dated August 3, 2009</font></div></td></tr></table></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"><font style="FONT-SIZE: 12pt"><font id="TAB2" style="FONT-SIZE: 12pt; LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereto duly authorized.</font></font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">August 6, 2009</font></div></td>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Hotel Outsource Management International, Inc.</font></div></td></tr><tr>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">By:</font></div></td>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">/s/ Jacob Ronnel</font></div></td></tr><tr>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Name:</font></div></td>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Jacob Ronnel</font></div></td></tr><tr>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Title:</font></div></td>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Chief Executive Officer</font></div></td></tr></table></div>
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[{"type": "8-K", "sequence": "1", "filename": "form8_k.htm", "description": "LOAN AGREEMENTS : HOMI AND AVRAHAM BAHRY; HOMI AND DANIEL COHEN", "secsgml_size_bytes": 21954}]
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form8_k.htm
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
August 3, 2009
Date of Report (Date of earliest event reported)
Hotel Outsource Management International, Inc.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
6719
13-4167393
(State or Other Jurisdiction of
Commission File
(I.R.S. Employer
Incorporation or Organization)
Number
Identification No.)
80 Wall Street, Suite 815, New York, New York
10005
(Address of Principal Executive Offices)
(Zip Code)
212-344-1600
Registrant's telephone number, including area code
(Former Name or former Address, if Changed Since Last Report)
Item 1.01- Entry into a Material Definitive Agreement
On August 3, 2009, Hotel Outsource Management International, Inc. ("HOMI") entered into two loan agreements with related parties, Avraham Bahry, Chairman of the Board of Directors of HOMI, and Daniel Cohen, President of HOMI.  Pursuant to the loan agreement with Mr. Bahry, Mr. Bahry will loan HOMI $100,000 for a maximum
period of four months. This loan bears interest at a rate of 6% per annum.  At HOMI's option, the loan and accrued interest may be converted into HOMI common stock at a rate per share equal to the price that is being offered to shareholders in HOMI's current rights offering (the "Rights Offering").  A registration statement for this Rights Offering was declared effective by the Commission on June 25, 2009.
However, in the event that the Rights Offering is subscribed for in full (including any over-subscription by subscribing shareholders), yielding gross proceeds of $800,000 for HOMI, then if, after exercise of Mr. Bahry's rights in the Rights Offering and conversion of loans into shares, there shall still remain an outstanding balance
of the loan and accrued interest, as well as an outstanding balance and accrued interest on the loan of $200,000 by Mr. Bahry to HOMI dated May 12, 2009, then HOMI will pay the outstanding balance in cash, and not in shares within five days of the closing of the Rights Offering.
Pursuant to the loan agreement with Mr. Cohen, Mr. Cohen will loan HOMI $25,000 for a maximum period of four months. This loan bears interest at a rate of 6% per annum.  At HOMI's option, the loan and accrued interest may be converted into HOMI common stock at a rate per share equal to the price that is being offered to
shareholders in HOMI's current rights offering (the "Rights Offering").  A registration statement for this Rights Offering was declared effective by the Commission on June 25, 2009.
Item 9.01 – Financial Statements and Exhibits
(d) Exhibits
Exhibit No.
10.1
Loan Agreement by and between HOMI and Avraham Bahry dated August 3, 2009
10.2
Loan Agreement by and between HOMI and Daniel Cohen dated August 3, 2009
2
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereto duly authorized.
August 6, 2009
Hotel Outsource Management International, Inc.
By:
/s/ Jacob Ronnel
Name:
Jacob Ronnel
Title:
Chief Executive Officer
3