UNITED STATES

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

Commission File Number 1-3952

Date of Report (date of earliest event reported): January 14, 2009 (January 12, 2009)

SIBONEY CORPORATION

(Exact name of registrant as specified in its charter)

MARYLAND	1-3952	73-0629975
(State or other jurisdiction of	(Commission File No.)	(I.R.S. Employer Identification No.)
incorporation or organization)

325 NORTH KIRKWOOD ROAD, SUITE 300		63122
P.O. BOX 221029		(Zip Code)
ST. LOUIS, MISSOURI
(Address of principal executive offices)

(314) 822-3163

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.03

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

On January 12, 2009, Siboney Corporation (the “Company”) extended its existing loans with Southwest Bank, an M&I Bank by executing replacement promissory notes in favor of the bank. One note has a principal amount of $634,197.92 and the line of credit note provides for maximum borrowings of $1,325,000. This extension was effective January 2, 2009. Both the promissory note and the line of credit bear interest at a variable rate based on the one month British Bankers Association LIBOR rate, plus 3.5%, with a minimum interest rate of 4.5% per annum. The current interest rate is 4.5% per annum. These notes are each secured by Siboney’s accounts receivable, equipment and inventory under the terms of a security agreement with the bank dated June 1, 2003. Siboney is obligated to make monthly interest payments on the outstanding principal amounts under the note and the line of credit. The promissory note and the line of credit mature on April 1, 2009. As of January 2, 2009, Siboney had a balance of $1,325,000 outstanding under the line of credit.

The promissory notes are filed as Exhibits 10.1 and Exhibit 10.2 to this Form 8-K and are incorporated herein.

Item 9.01

Financial Statements and Exhibits.

(d) Exhibits

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: January 12, 2009

	SIBONEY CORPORATION



	By: /s/ William D. Edwards, Jr.
	William D. Edwards, Jr.
	Executive Vice President, Chief Operating
	Officer and Chief Financial Officer

INDEX OF EXHIBITS

Exhibit No.	Description

10.1	Promissory Note executed in favor of Southwest Bank, an M&I Bank by Siboney Learning Group, Inc. and Siboney Corporation dated January 2, 2009

10.2	Promissory Note executed in favor of Southwest Bank, an M&I Bank by Siboney Learning Group, Inc. and Siboney Corporation dated January 2, 2009

SIBONEY CORP 8-K