ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

With the assistance of Cerberus Financial, Inc., acting as note agent, the Company sought the extension of the maturity date of its outstanding senior notes with an aggregate principal balance of $2,962,500 (in a limited offering that was exempt from registration). The senior notes had been due for maturity on July 15, 2010 and with the amendment will now be due on January 15, 2012. The senior notes were issued as a series of notes that are governed by that certain Unit Purchase and Agency Agreement which provided that the senior notes and the Unit Purchase and Agency Agreement may be amended with the approval of a majority of note holders.

On January 15, 2009, the Company received the written approval of Noteholders owning sixty-six and two-thirds per cent (66.66%) or more of the outstanding principal balance of the senior notes. Accordingly, the senior notes and the Unit Purchase and Agency Agreement were amended as follows:

1. All references in the senior notes and Unit Purchase Agency Agreement to the "Maturity Date" or the "due date" shall be amended to reflect the new Maturity Date or due date of January 15, 2012.

2. In consideration for the extension of the note term, iLinc will prepay twelve and a half percent (12.5%) of the outstanding principal of the Senior Notes.

3. All other terms and provisions of the senior notes and the Unit Purchase Agreement not specifically amended shall remain unchanged without further amendment.

On January 16, 2009 iLinc Communications, Inc. issued a press release, a copy of which is furnished as Exhibit 99.1 to this current report.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d) EXHIBITS

10.1 Amendment to Unit Purchase and Agency Agreement
99.1 Copy of press release issued by iLinc Communications, Inc. on January 16, 2009.