Item 2.03. Creation of a Direct Financial Obligation or an Obligation Under
an Off-Balance-Sheet Arrangement of a Registrant

On June 8, 2012, Speedemissions, Inc. (the "Company") entered into a new revolving line of credit loan agreement (the "Loan Agreement") with TCA Global Credit Master Fund, LP ("Lender"), pursuant to which the Company may borrow up to $2,000,000 (Two-million dollars) in order to pay trade payables, provide for working capital and other uses as approved by Lender. The Loan Agreement replaces an existing revolving line of credit loan agreement with Regions Bank in the amount of $100,000. The Company made an initial draw of $350,000 under the Loan Agreement on June 8, 2012. The terms of the Loan Agreement include an initial maturity date of six (6) months or December 8, 2012 with an automatic six (6) month extension to June 8, 2013, subject to terms and conditions contained in the Loan Agreement. Interest under the Loan Agreement is 10% per annum plus monthly loan servicing fees. The promissory note contains customary representations and warranties, conditions, covenants and events of default. The Loan Agreement is collateralized by the Company's inventory, accounts, equipment, general intangibles and fixtures. If the Company prepays the entire outstanding balance, prior to maturity, a 5% prepayment penalty will be assessed.

Item 9.01 Financial Statements and Exhibits

(d) EXHIBITS Exhibit Number Description of Document 99.1 Form of Credit Agreement with TCA Global Credit Master Fund, LP dated June 8, 2012 99.2 Form of Revolving Note with TCA Global Credit Master Fund, LP dated June 8, 2012