ITEM 8.01. OTHER EVENTS.

On June 14, 2012, Accelerize New Media, Inc., or the Company, settled a complaint, or the Complaint, filed against the Company by WebApps LLC, or the Plaintiff, on April 8, 2011 in the United States District Court for the Eastern District of Louisiana. The Complaint, among other things, alleged that the Company engaged in computer fraud and abuse, unlawful access to electronic communications, misappropriation of trade secrets, unfair trade practices, tortious conduct and intentional interference. The Plaintiff sought injunctive relief and damages in excess of $1 million, plus attorneys' fees and costs. In June 2011, the Company filed a partial motion to dismiss and five counter-claims against the Plaintiff. In August 2011, the Plaintiff filed a motion to dismiss the Company's counter-claims. On March 20, 2012, each of the motions was granted in part and denied in part, such that all parties had the right to amend their pleadings.

By settling the Complaint, each of the Company and the Plaintiff deny liability and wrongdoing, and each releases any and all claims that such party has, had or may have had against the other up to and including May 31, 2012. The Company and the Plaintiff will execute and file a joint motion to dismiss, whereby all claims against the Company will be dismissed with prejudice and all counterclaims against the Plaintiff will be dismissed with prejudice, with each party to bear its own costs and attorney's fees. In connection with the settlement, the Company will pay, within 10 days of the filing of the joint motion to dismiss, the sum of $50,000 to the Plaintiff.

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