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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (D) OF
THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED):
MAY 3, 2000
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EN POINTE TECHNOLOGIES, INC
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
COMMISSION FILE NUMBER 000-28052
DELAWARE NUMBER: 75-2467002
(STATE OR OTHER JURISDICTION OF I.R.S. EMPLOYER I. D.
INCORPORATION OR ORGANIZATION)
100 N. SEPULVEDA BLVD., 19TH FLOOR
EL SEGUNDO, CALIFORNIA 90245
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
(310) 725-5200
(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
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ITEM 5. Other Events.
i) The Company announces that its web procurement business-to-business
subsidiary, SupplyAccess, Inc., recently completed a subsequent funding of a
private placement of Series A preferred stock with a large software company in
the gross amount of $4 million. Such funding resulted in the sale of 2,666,666
shares of preferred stock at $1.50 per share, representing 7.89% of the total of
33,794,985 shares of outstanding stock. With the conclusion of this sale, the
Company's ownership in SupplyAccess, Inc. is 41.54%.
ii) In the Company's Annual Report on Forms 10-K for the fiscal year ended
September 30, 1999 (as filed with the Securities and Exchange Commission on
January 13, 2000) the Company reported that in connection with that certain
litigation originally filed April 29, 1997 in the Superior Court for the County
of Los Angeles, under the case name Novaquest Infosystems, et. al. v. En Pointe
Technologies, Inc., et al., the court had taken under submission Plaintiffs'
claim for costs and attorney's fees, but had not yet ruled. The Company then
stated, in connection with the claim for attorney's fees, that it did not
believe that a judge would find reasonable the expending of $1,800,000 to
recover $50,000.
On April 27, 2000, the court issued its ruling on Plaintiffs' request for
attorneys' fees and costs. The court awarded plaintiffs $1,112,853 in
attorneys' fees for a recovery of $50,000, as well as $105,249 in costs.
The Company intends to appeal the Court's ruling on attorneys' fees. The
Company believes that an award of $1,112,853 in attorneys' fees to recover
$50,000 should not be sustained. Nonetheless, in view of the ruling, the
Company will recognize a charge to reported income of approximately $1.175
million for the quarter ending March 31, 2000, to provide for this potential
loss.
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SIGNATURE
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 thereunto duly authorized.
EN POINTE TECHNOLOGIES, INC.
Date: May 4, 2000
/s/ Javed Latif
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By: Javed Latif, Chief Financial Officer
