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
Date of Report (date of earliest event reported): November, 3, 1999
ePLUS, INC.
(FORMERLY KNOWN AS MLC HOLDINGS, INC.)
(Exact name of registrant as specified in its charter)
Delaware 000-28926 54-1817218
(State or other (Commission File Number) (I.R.S. Employer
jurisdiction of incorporation) Identification No.)
400 Herndon Parkway, Herndon, Virginia 20170
(Address, including zip code, of principal executive office)
(703) 834-5710
(Registrant's telephone number, including area code)
<PAGE>
Item 5. OTHER EVENTS
On October 25, 1999, MLC Holdings, Inc. issued a press release that announced
that it had changed its name to ePlus, Inc. and will be operating under the name
ePlus, effective November 1, 1999. ePlus will trade under the ticker symbol
"PLUS" on the NASDAQ national market.
A press release is attached as Exhibit 99.2.
On November 1, 1999, ePlus (formerly known as MLC Holdings, Inc.) announced that
it formally rolled out its new e-Commerce solution, ePlusSuite SM effective
November 1, 1999. The ePlusSuite product automates the ordering, procurement,
management, and financing of business assets and services for customers.
A press release is attached as Exhibit 99.3.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company
has duly caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.
Dated: November 3, 1999 By:/s/ PHILLIP G. NORTON
Phillip G. Norton
Chairman and Chief Executive Officer
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<PAGE>
EXHIBIT INDEX
The following exhibits are filed as part of this report:
Exhibit No. Ite
99.2 Press Release dated October 25, 1999
99.3 Press Release dated November 2, 1999
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FOR RELEASE At 8:30 A.M. ON OCTOBER 25, 1999
MLC Announces ePlus
ePlus is a comprehensive business to business e-commerce service
HERNDON, VA (October 25, 1999) - MLC Holdings (NASD:MLCH) will start operating
and trading as ePlus on November 1, 1999 (new ticker symbol "PLUS"). ePlus is an
e-commerce business to business supply chain management service provider serving
the commercial, educational, and government markets. The change is the result of
MLC's strategic vision and the natural evolution of the company's online
services it has been offering since 1996.
"ePlus services allows our customers to significantly increase internal
efficiencies and decrease the expense of procuring, owning, and disposing of all
types of corporate assets and resources." stated Mr. Phillip G. Norton, ePlus's
Chairman, President and Chief Executive Officer. "Our business to business
e-commerce platform combines the best features of an ERP supply chain solution
and an enterprise-level asset management solution, and delivers the service as a
hosted application. It incorporates in a seamless platform, all of the valuable
services that are part of ePlus' core competencies. ePlus services are scalable,
require minimal implementation and deployment costs to the customer, and are
based on standardized open-architecture to insure compatibility with web based
e-commerce platforms as well as most legacy systems. ePlus is so key to our
future and our strategic direction that we changed our name to brand our company
and product."
ePlus services include online procurement, electronic work flow process, supply
chain management, and asset management. ePlus also offers leasing, hardware and
software sales and service, as well as a full range of technology consulting
services. The service allows our customers to reduce the cost and inefficiencies
that exist in today's procurement systems. ePlus can provide electronic
catalogues and databases for any asset class or service, with an emphasis on
information technology equipment. Currently, the Company has over fifty
customers using its asset management services, including Proxicom (NASD: PXCM)
and Dain Rauscher (NYSE: DRC) who have implemented the full suite of ePlus
services.
The company announced that its ticker symbol will change from "MLCH" to "PLUS"
on November 1, 1999. In addition, the company stated that its legal name has
changed from MLC Holdings, Inc. to ePlus inc. on October 19, 1999.
ePlus will continue to build on strong growth it has experienced over the last
three years. ePlus began offering online asset management services in 1996.
Since then revenues have grown from $64 million to $193 million for fiscal year
ending March 31, 1999. During that same period, total assets also increased from
$21 million in 1995 to $154 million in 1999. With over 2,500 customers and 15
sales offices around the country, MLC is one of the fastest growing supply chain
and asset management service providers.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: The statements contained in this release which are not historical facts
may be deemed to contain forward-looking statements. Actual results may vary due
to the following risks and uncertainties, including, without limitation, demand
and competition for the Company's lease financing and equipment sales and asset
management services, and the products to be leased or sold by the Company, the
continued availability to the Company of adequate financing, the ability of the
Company to recover its investment in equipment through remarketing, the
successful execution of its e-commerce strategy, and other risks or
uncertainties detailed in the Company's Securities and Exchange Commission
filings. Investors are cautioned that current financial results may not be
indicative of future results.
CONTACT: PHILLIP G. NORTON
CHAIRMAN, PRESIDENT AND CHIEF EXECUTIVE OFFICER
PHONE: 703-709-1926
FAX: 703-834-5718
KLEYTON L. PARKHURST ([email protected])
SENIOR VICE PRESIDENT
PHONE: 703-709-1924
FAX: 703-834-5718
www.mlcgroup.com
www.pcplus.com
www.clginc.com
www.eccinc.com
www.mlci.com
www.icn.com
FOR RELEASE At 8:30 A.M. ON NOVEMBER 2, 1999
ePlus Unveils ePlusSuiteSM
Solution allows customers to manage critical business resources
HERNDON, VA (November 2, 1999) - ePlus inc. (NASD:PLUS) formally rolled out its
new e-commerce solution, ePlusSuiteSM on November 1, 1999. ePlusSuite automates
the ordering, procurement, management, and financing of critical business assets
and services for enterprises, and delivers the solution seamlessly over the
Internet. ePlusSuite results from evolution of the company's online services
which it has been offering since 1996.
Phillip G. Norton, Chairman, President and Chief Executive Officer of ePlus
stated "ePlusSuite is in production and it delivers what customers want, since
it was developed in conjunction with our customer's needs and feedback. Because
it can be easily implemented and at a very low cost, it has broad market appeal
- - especially for fast growing, middle market companies that want to focus on
growth and their core business rather than implementing enterprise software
packages. As compared to the competition, ePlusSuite is more robust and offers
more services by taking care of the customer from initial end-user order through
the life of the asset, including asset management, financing, and disposal.
There are solutions out there which solve some of the customer's problems, but
we believe ePlusSuite offers the most comprehensive and complete solution
available, especially as a hosted solution."
Commenting on the future goals of ePlus, Phil Norton said "ePlusSuite is the
first major step towards converting ePlus into a business-to-business e-commerce
company. The next phase is to convert our existing 1,500 customers, including
the 60 customers who are on-line Manage+ customers, to the complete ePlusSuite.
This will allow us to capture transaction fees from the purchase of critical
business assets and services. The next phase will be to form partnerships and
create a buying network which will allow our customers to take advantage of the
currently estimated $400 million in annual purchasing run rate of ePlus.
Ultimately, we will be able to capture the purchasing of our large customer base
and compete against others by providing all of the highly valued services which
have always been our core competencies."
ePlusSuite consists of the following services:
- Procure +SM significantly reduces costs and increases efficiency for
procuring all types of critical business assets and supplies. Procure+
is a hosted Internet procurement solution that automates cumbersome
internal procurement processes, and can be implemented at low cost and
integrated with legacy systems. The solution offers customized
catalogue-based ordering, access to major vendor catalogues and can
accommodate any enterprise workflow or existing business rules.
Procure+ reduces the cost of procurement for any size order.
- Manage +SM reduces the total cost of ownership by giving customers
control over fixed assets. Manage+ is a complete asset management
solution that provides a hosted Internet asset repository with
customized reporting and electronic data interchange capabilities
including integration with legacy enterprise systems. Manage+
integrates seamlessly with Procure+ and Finance+ to provide a total
solution.
- Finance +SM is a competitive financing solution which provides
customers with the benefits of leasing to reduce the total cost of
ownership. Finance+ offers a flexible approach that allows customers
to reduce the risk of technological obsolescence, conserve capital,
acquire more equipment, and transfer the risks of ownership. Finance+
integrates seamlessly with Procure+ and Manage+ to provide a total
solution.
- Service +SM provides equipment, technical services, and consulting
solutions to customers. Service+ solutions can be offered within a
Procure+ catalogue for seamless integration with ePlusSuite.
ePlus inc., formerly MLC Holdings, Inc., is an e-commerce business to business
supply chain management services provider. Its services include automated
Internet procurement, asset management, and financing to commercial,
educational, and government enterprises. The Company is headquartered in
Herndon, VA, and has seventeen locations.
Servicemarks have been applied for: ePlusSuite SM, Procure+ SM, Manage+ SM,
Finance+ SM, and Service+ SM.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: The statements contained in this release which are not historical facts
may be deemed to contain forward-looking statements. Actual results may vary due
to the following risks and uncertainties, including, without limitation, demand
and competition for the Company's lease financing and equipment sales and asset
management services, and the products to be leased or sold by the Company, the
continued availability to the Company of adequate financing, the ability of the
Company to recover its investment in equipment through remarketing, the
successful execution of its e-commerce strategy, and other risks or
uncertainties detailed in the Company's Securities and Exchange Commission
filings. Investors are cautioned that current financial results may not be
indicative of future results.
CONTACT: KLEYTON L. PARKHURST ([email protected])
SENIOR VICE PRESIDENT
PHONE: 703-709-1924
FAX: 703-834-5718
www.eplusonline.com
