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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001337851-08-000085.txt : 20080513
<SEC-HEADER>0001337851-08-000085.hdr.sgml : 20080513
<ACCEPTANCE-DATETIME>20080513180241
ACCESSION NUMBER:		0001337851-08-000085
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080513
FILED AS OF DATE:		20080513
DATE AS OF CHANGE:		20080513

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INTERNATIONAL MONETARY SYSTEMS LTD /WI/
		CENTRAL INDEX KEY:			0001097430
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		IRS NUMBER:				391924096
		STATE OF INCORPORATION:			WI
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		16901 WEST GLENDALE DR
		CITY:			NEW BERLIN
		STATE:			WI
		ZIP:			53151
		BUSINESS PHONE:		2627803640

	MAIL ADDRESS:	
		STREET 1:		16901 WEST GLENDALE DR
		CITY:			WEST BERLIN
		STATE:			WI
		ZIP:			53151

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Praetorian Capital Management LLC
		CENTRAL INDEX KEY:			0001337851
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-30853
		FILM NUMBER:		08828897

	BUSINESS ADDRESS:	
		STREET 1:		119 WASHINGTON AVENUE
		STREET 2:		SUITE 600
		CITY:			MIAMI BEACH
		STATE:			FL
		ZIP:			33139
		BUSINESS PHONE:		305-938-2800

	MAIL ADDRESS:	
		STREET 1:		119 WASHINGTON AVENUE
		STREET 2:		SUITE 600
		CITY:			MIAMI BEACH
		STATE:			FL
		ZIP:			33139
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-05-13</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001097430</issuerCik>
        <issuerName>INTERNATIONAL MONETARY SYSTEMS LTD /WI/</issuerName>
        <issuerTradingSymbol>INLM</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001337851</rptOwnerCik>
            <rptOwnerName>Praetorian Capital Management LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>119 WASHINGTON AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 600</rptOwnerStreet2>
            <rptOwnerCity>MIAMI BEACH</rptOwnerCity>
            <rptOwnerState>FL</rptOwnerState>
            <rptOwnerZipCode>33139</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $0.0001</value>
            </securityTitle>
            <transactionDate>
                <value>2008-05-13</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>300</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.528</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>13237665</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnotes</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">This Form 4 is being filed by Praetorian Capital Management LLC, a Delaware Limited Liability Company (the &quot;Management Company&quot;) which serves as investment manager or advisor to Praetorian Offshore Ltd. and Praetorian Institutional Offshore Ltd. (the &quot;Funds&quot;) with respect to the shares identified in this filing. The Management Company makes the investment and voting decisions on behalf of the Funds but owns no direct investments in the securities of the Issuer. The Funds directly own the shares of the Common Stock of the Issuer but do not make any decisions as to voting or buying or selling shares of the Issuer.</footnote>
        <footnote id="F2">Praetorian Offshore Ltd. owns 12,985,800 shares (all of which were purchased prior to the earliest date noted in this filing) and Praetorian Institutional Offshore Ltd. owns 251,865 shares, of which 300 were purchased on May 13, 2008.  In total, the Funds own 13,237,665 shares.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Harris B. Kupperman</signatureName>
        <signatureDate>2008-05-13</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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