<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q
Quarterly Report Under Section 13
or 15 (d) of the Securities
Exchange Act of 1934
----------------------------------
For the Quarter Ended
September 30, 1996 Commission File Number 0-17744
- --------------------- -------------------------------
DATRONIC EQUIPMENT INCOME FUND XVII, L.P.
------------------------------------------------------
(Exact name of Registrant as specified in its charter)
Delaware 36-3581924
- ------------------- --------------------------
State or other IRS Employer Identification
jurisdiction of Number
incorporation or
organization
1300 E. Woodfield Road, Suite 312 Schaumburg, Illinois 60173
- ---------------------------------- --------------------------
Address of principal City, State, Zip Code
executive offices
Registrant's telephone number: (847) 240-6200
---------------------------
Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period
that the Registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days.
(1) Yes x No
---- ----
(2) Yes x No
---- ----
<PAGE> 2
DATRONIC EQUIPMENT INCOME FUND XVII, L.P.
FORM 10-Q
FOR THE QUARTER ENDED SEPTEMBER 30, 1996
PART I - FINANCIAL INFORMATION
Item 1.
Index to Financial Statements
Balance Sheets
September 30, 1996 (unaudited)
December 31, 1995
Statements of Revenue and Expenses (unaudited)
For the three months ended September 30, 1996
For the three months ended September 30, 1995
For the nine months ended September 30, 1996
For the nine months ended September 30, 1995
Statements of Changes in Partners' Equity
For the nine months ended September 30, 1996
(unaudited)
Statements of Cash Flows (unaudited)
For the nine months ended September 30, 1996
For the nine months ended September 30, 1995
Notes to Financial Statements (unaudited)
Item 2.
Management's Discussion and Analysis of
Financial Condition and Results of Operations
PART II - OTHER INFORMATION
Items 1-6.
- 2 -
<PAGE> 3
PART I - FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
DATRONIC EQUIPMENT INCOME FUND XVII, L.P.
BALANCE SHEETS
September 30, 1996 - Unaudited
<TABLE>
<CAPTION>
Liquidating Continuing
Limited Limited
Partners Partners Total
-------- -------- -----
ASSETS
- ------
<S> <C> <C> <C>
Cash and cash equivalents $ 2,417,999 $ 3,520,484 $ 5,938,483
Installment contract receivable 29,342 63,749 93,091
Net investment in direct
financing leases 19,407 2,195,618 2,215,025
Diverted and other assets, net 100,249 217,800 318,049
----------- ----------- -----------
$ 2,566,997 $ 5,997,651 $ 8,564,648
=========== =========== ===========
LIABILITIES AND PARTNERS' EQUITY
- --------------------------------
Accounts payable and
accrued expenses $ 50,121 $ 137,276 $ 187,397
Lessee rental deposits 150,507 351,202 501,709
Due to management company 507 1,102 1,609
----------- ----------- -----------
Total liabilities 201,135 489,580 690,715
Total partners' equity 2,365,862 5,508,071 7,873,933
----------- ------------ -----------
$ 2,566,997 $ 5,997,651 $ 8,564,648
=========== ============ ===========
</TABLE>
See accompanying notes to financial statements.
- 3 -
<PAGE> 4
DATRONIC EQUIPMENT INCOME FUND XVII, L.P.
BALANCE SHEETS
December 31, 1995
<TABLE>
<CAPTION>
Liquidating Continuing
Limited Limited
Partners Partners Total
-------- -------- -----
ASSETS
- ------
<S> <C> <C> <C>
Cash and cash equivalents $ 2,379,752 $ 1,515,551 $ 3,895,303
Installment contract receivable 54,427 118,246 172,673
Net investment in direct
financing leases 544,282 5,066,223 5,610,505
Diverted and other assets, net 100,249 217,800 318,049
Restricted cash 10,812 23,489 34,301
----------- ----------- ------------
$ 3,089,522 $ 6,941,309 $ 10,030,831
=========== =========== ============
LIABILITIES AND PARTNERS' EQUITY
- --------------------------------
Accounts payable and
accrued expenses $ 125,264 $ 303,393 $ 428,657
Lessee rental deposits 253,067 602,291 855,358
Due to management company 134 276 410
----------- ----------- ------------
Total liabilities 378,465 905,960 1,284,425
Total partners' equity 2,711,057 6,035,349 8,746,406
----------- ----------- ------------
$ 3,089,522 $ 6,941,309 $ 10,030,831
=========== =========== ============
</TABLE>
See accompanying notes to financial statements.
- 4 -
<PAGE> 5
DATRONIC EQUIPMENT INCOME FUND XVII, L.P.
STATEMENTS OF REVENUE AND EXPENSES
For the three months ended September 30, 1996
(Unaudited)
<TABLE>
<CAPTION>
Liquidating Continuing
Limited Limited
Partners Partners Total
-------- -------- -----
<S> <C> <C> <C>
Revenue:
Lease income $ 10,886 $ 99,858 $ 110,744
Interest income 11,274 79,114 90,388
---------- ---------- ----------
22,160 178,972 201,132
---------- ---------- ----------
Expenses:
Management fees-New Era 79,277 188,849 268,126
General Partner's
expense reimbursement 12,849 27,914 40,763
Professional fees 34,092 79,728 113,820
Other operating expenses 7,411 16,116 23,527
---------- ---------- ----------
133,629 312,607 446,236
---------- ---------- ----------
Net loss $ (111,469) $ (133,635) $ (245,104)
========== ========== ==========
Net loss - General Partner $ (1,115) $ (1,336) $ (2,451)
========== ========== ==========
Net loss - Limited Partners $ (110,354) $ (132,299) $ (242,653)
========== ========== ==========
Net loss per Limited
Partnership Unit $ (1.75) $ (.97)
========== ==========
Weighted average number
of Limited Partnership Units
outstanding 63,030 136,969
========== ==========
</TABLE>
See accompanying notes to financial statements.
- 5 -
<PAGE> 6
DATRONIC EQUIPMENT INCOME FUND XVII, L.P.
STATEMENTS OF REVENUE AND EXPENSES
For the three months ended September 30, 1995
(Unaudited)
<TABLE>
<CAPTION>
Liquidating Continuing
Limited Limited
Partners Partners Total
-------- -------- -----
<S> <C> <C> <C>
Revenue:
Lease income $ 20,398 $ 218,028 $ 238,426
Settlement proceeds (Note 4) 134,270 291,715 425,985
Interest income 19,492 64,152 83,644
--------- --------- ---------
174,160 573,895 748,055
--------- --------- ----------
Expenses:
Management fees-New Era 80,809 202,226 283,035
General Partner's
expense reimbursement 5,745 12,482 18,227
Professional fees (Note 4) 75,610 176,421 252,031
Other operating expenses 12,042 26,330 38,372
Credit for lease losses (110,320) (39,680) (150,000)
--------- --------- ---------
63,886 377,779 441,665
--------- --------- ---------
Net earnings $ 110,274 $ 196,116 $ 306,390
========= ========= =========
Net earnings -
General Partner $ 1,103 $ 1,961 $ 3,064
========= ========= =========
Net earnings -
Limited Partners $ 109,171 $ 194,155 $ 303,326
========= ========= =========
Net earnings per Limited
Partnership Unit $ 1.73 $ 1.42
========= =========
Weighted average number
of Limited Partnership Units
outstanding 63,030 136,969
========= =========
</TABLE>
See accompanying notes to financial statements.
- 6 -
<PAGE> 7
DATRONIC EQUIPMENT INCOME FUND XVII, L.P.
STATEMENTS OF REVENUE AND EXPENSES
For the nine months ended September 30, 1996
(Unaudited)
<TABLE>
<CAPTION>
Liquidating Continuing
Limited Limited
Partners Partners Total
-------- -------- -----
<S> <C> <C> <C>
Revenue:
Lease income $ 44,810 $ 390,125 $ 434,935
Interest income 31,641 213,254 244,895
---------- ---------- -----------
76,451 603,379 679,830
---------- ---------- -----------
Expenses:
Management fees-New Era 235,990 571,027 807,017
General Partner's
expense reimbursement 69,360 150,690 220,050
Professional fees 102,239 240,300 342,539
Other operating expenses 14,057 31,670 45,727
---------- ---------- ----------
421,646 993,687 1,415,333
---------- ---------- ----------
Net loss $ (345,195) $ (390,308) $ (735,503)
========== ========== ==========
Net loss - General Partner $ (3,452) $ (3,903) $ (7,355)
========== ========== ==========
Net loss - Limited Partners $ (341,743) $ (386,405) $ (728,148)
========== ========== ==========
Net loss per Limited
Partnership Unit $ (5.42) $ (2.82)
========== ==========
Weighted average number
of Limited Partnership Units
outstanding 63,030 136,969
========== ==========
</TABLE>
See accompanying notes to financial statements.
- 7 -
<PAGE> 8
DATRONIC EQUIPMENT INCOME FUND XVII, L.P.
STATEMENTS OF REVENUE AND EXPENSES
For the nine months ended September 30, 1995
(Unaudited)
<TABLE>
<CAPTION>
Liquidating Continuing
Limited Limited
Partners Partners Total
-------- -------- -----
<S> <C> <C> <C>
Revenue:
Lease income $ 111,499 $ 812,931 $ 924,430
Settlement proceeds (Note 4) 134,270 291,715 425,985
Interest income 69,430 185,185 254,615
---------- ---------- -----------
315,199 1,289,831 1,605,030
---------- ---------- -----------
Expenses:
Management fees-New Era 252,665 659,923 912,588
General Partner's
expense reimbursement 50,726 110,206 160,932
Professional fees (Note 4) 186,312 423,084 609,396
Other operating expenses 23,066 58,093 81,159
Credit for lease losses (210,320) (239,680) (450,000)
---------- ---------- ----------
302,449 1,011,626 1,314,075
---------- ---------- ----------
Net earnings $ 12,750 $ 278,205 $ 290,955
========== ========== ==========
Net earnings -
General Partner $ 128 $ 2,782 $ 2,910
========== ========== ==========
Net earnings -
Limited Partners $ 12,622 $ 275,423 $ 288,045
========== ========= ==========
Net earnings per Limited
Partnership Unit $ 0.20 $ 2.01
========== =========
Weighted average number
of Limited Partnership Units
outstanding 63,030 136,969
========== =========
</TABLE>
See accompanying notes to financial statements.
- 8 -
<PAGE> 9
DATRONIC EQUIPMENT INCOME FUND XVII, L.P.
STATEMENT OF CHANGES IN PARTNERS' EQUITY
(Unaudited)
<TABLE>
<CAPTION>
Liquidating Continuing
General Limited Limited Total
Partner's Partners' Partners' Partners'
Equity Equity Equity Equity
------ ------ ------ ------
<S> <C> <C> <C> <C>
Balance, December 31, 1995 $ (378,417)* $ 2,803,733 $ 6,321,090 $ 8,746,406
Distributions to partners
(Note 3) - - (136,970) (136,970)
Net loss (7,355) (341,743) (386,405) (735,503)
Allocation of General
Partner's equity 385,772 (96,128) (289,644) -
----------- ----------- ----------- -----------
Balance, September 30, 1996 $ - $ 2,365,862 $ 5,508,071 $ 7,873,933
=========== =========== =========== ===========
</TABLE>
* Balance as previously reported was $0 due to allocation of $92,676 and
$285,741 to Liquidating and Continuing Limited Partners' Equity,
respectively.
See accompanying notes to financial statements.
- 9 -
<PAGE> 10
DATRONIC EQUIPMENT INCOME FUND XVII, L.P.
STATEMENTS OF CASH FLOWS
For the nine months ended September 30, 1996
(Unaudited)
<TABLE>
<CAPTION>
Liquidating Continuing
Limited Limited
Partners Partners Total
-------- -------- -----
<S> <C> <C> <C>
Cash flows from operating activities:
Net loss $ (345,195) $ (390,308) $ (735,503)
Adjustments to reconcile net
loss to net cash used in
operating activities:
Changes in assets and liabilities:
Accounts payable and accrued
expenses (75,143) (166,117) (241,260)
Lessee rental deposits (102,560) (251,089) (353,649)
Due to management company 373 826 1,199
------------ ----------- -----------
(522,525) (806,688) (1,329,213)
------------ ----------- -----------
Cash flows from investing activities:
Principal collections on leases 524,875 2,870,605 3,395,480
Principal collections on
installment contract receivable 25,085 54,497 79,582
Release of restricted cash 10,812 23,489 34,301
------------- ----------- -----------
560,772 2,948,591 3,509,363
------------- ----------- -----------
Cash flows from financing activities:
Distributions to Limited Partners (a) - (136,970) (136,970)
------------- ----------- -----------
- (136,970) (136,970)
------------- ----------- -----------
Net increase in cash
and cash equivalents 38,247 2,004,933 2,043,180
Cash and cash equivalents:
Beginning of year 2,379,752 1,515,551 3,895,303
------------- ------------ -----------
End of third quarter $ 2,417,999 $ 3,520,484 $ 5,938,483
============= ============ ===========
</TABLE>
(a) Distributions during the period were $1.00 per unit for Continuing
Limited Partners (see Note 3).
See accompanying notes to financial statements.
- 10 -
<PAGE> 11
DATRONIC EQUIPMENT INCOME FUND XVII, L.P.
STATEMENTS OF CASH FLOWS
For the nine months ended September 30, 1995
(Unaudited)
<TABLE>
<CAPTION>
Liquidating Continuing
Limited Limited
Partners Partners Total
-------- -------- -----
<S> <C> <C> <C>
Cash flows from operating activities:
Net earnings $ 12,750 $ 278,205 $ 290,955
Adjustments to reconcile net
earnings to net cash used in
operating activities:
Credit for lease losses (210,320) (239,680) (450,000)
Changes in assets and liabilities:
Accounts payable and accrued
expenses (40,820) (83,761) (124,581)
Lessee rental deposits (20,348) (44,208) (64,556)
Due to Management Company (29) (631) (660)
----------- ----------- -----------
(258,767) (90,075) (348,842)
----------- ----------- -----------
Cash flows from investing activities:
Principal collections on leases 1,258,009 4,557,175 5,815,184
Distribution of diverted and other assets 37,116 80,634 117,750
Distribution of Datronic assets 19,786 42,988 62,774
Principal collections on
installment contract receivable 22,706 49,332 72,038
----------- ----------- -----------
1,337,617 4,730,129 6,067,746
----------- ----------- -----------
Cash flows from financing activities:
Distributions to Limited Partners (a) (150,200) (7,685,803) (7,836,003)
Distributions to General Partner (10,317) (57,639) (67,956)
----------- ------------ -----------
(160,517) (7,743,442) (7,903,959)
----------- ----------- -----------
Net increase (decrease) in cash
and cash equivalents 918,333 (3,103,388) (2,185,055)
Cash and cash equivalents:
Beginning of year 1,489,393 5,559,822 7,049,215
----------- ----------- -----------
End of third quarter $ 2,407,726 $ 2,456,434 $ 4,864,160
=========== =========== ===========
</TABLE>
(a) Distributions during the period were $2.38 per unit for Liquidating Limited
Partners and $56.11 per unit for Continuing Limited Partners.
See accompanying notes to financial statements.
- 11 -
<PAGE> 12
DATRONIC EQUIPMENT INCOME FUND XVII, L.P.
NOTES TO FINANCIAL STATEMENTS
September 30, 1996
(Unaudited)
NOTE 1 - ORGANIZATION:
Datronic Equipment Income Fund XVII, L.P., a Delaware Limited Partnership (the
"Partnership"), was formed on May 12, 1988 for the purpose of acquiring and
leasing both high-and low- technology equipment. Reference is made to Notes 4,
6, 7 and 8 to the Partnership's financial statements included in the 1995 Form
10-K for a discussion of the alleged diversion of Partnership assets in 1991
and 1992 and the subsequent litigation and settlement, change in general
partner, new classes of limited partners established and amendments to the
Partnership Agreement which occurred.
NOTE 2 - BASIS OF FINANCIAL STATEMENTS:
The accompanying financial statements should be read in conjunction with the
Partnership's financial statements included in the 1995 Form 10-K. The
financial information furnished herein is unaudited but in the opinion of
Management includes all adjustments necessary (all of which are normal
recurring adjustments) for a fair presentation of financial condition and
results of operations. See Note 3 to the Partnership's financial statements
included in the 1995 Form 10-K.
NOTE 3 - LIMITED PARTNERSHIP DISTRIBUTIONS:
Distributions to Liquidating Limited Partners were suspended after payment of
the April 1, 1995 distribution. Distributions to Continuing Limited Partners
were suspended after payment of the January 1, 1996 distribution.
NOTE 4 - SETTLEMENT WITH FORMER ATTORNEYS:
On August 10, 1995, the United States District Court of the Northern District
of Illinois, Eastern Division, approved as fair, reasonable and adequate, a
settlement with all the Datronic Partnerships and the Partnerships' former
attorneys, Siegan, Barbakoff, Gomberg & Kane in the aggregate amount of
$1,775,000 ($425,985 for the Partnership) or $2.13 per unit (see Note 6 to the
Partnership's financial statements included in the 1995 Form 10-K). A total of
$683,147 of expenses ($163,950 for the Partnership) consisting primarily of
professional fees, were incurred in connection with this recovery resulting in
a net recovery of
- 12 -
<PAGE> 13
$1,091,853 or $1.31 per unit. However, since the Partnerships had previously
paid $239,397 ($57,453 for the Partnership) of these expenses, a total of
$1,331,250 or $1.60 per unit was available for distribution. Accordingly, on
October 1, 1995, the Partnership distributed $1.60 per unit to Liquidating
Limited Partners and to Continuing Limited Partners. All settlement proceeds
and all related expenses have been allocated to all unit holders of the
Datronic Partnerships based on the number of limited partnership units owned.
- 13 -
<PAGE> 14
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS
The following discussion and analysis of liquidity and capital resources covers
material changes in the Partnership's financial condition from December 31,
1995 through September 30, 1996. The discussion and analysis of results of
operations is for the three and nine month periods ended September 30, 1996 as
compared to the corresponding periods in 1995.
Financial Condition, Liquidity and Capital Resources
During the nine months ended September 30, 1996, Partnership assets were
converted to cash to pay Partnership operating expenses and the January 1, 1996
distribution to the Continuing Limited Partners and to increase cash balances
to ensure that sufficient cash will be available to pursue pending litigation
and liquidate the Partnership in an orderly manner.
Installment contract receivable decreased approximately $80,000 during the nine
months ended September 30, 1996 primarily due to scheduled principal
collections.
Net investment in direct financing leases decreased approximately $3,395,000
during the nine months ended September 30, 1996 primarily due to principal
collections.
Restricted cash of approximately $34,000 has been included in cash and cash
equivalents due to the removal of claims against such cash (see Part II, Item 1
- - Legal Proceedings) and repayment to the Partnership with interest in June
1996.
Accounts payable and accrued expenses decreased approximately $241,000 during
the nine months ended September 30, 1996 primarily due to payment of legal fees
and sales and use taxes.
Lessee rental deposits decreased approximately $354,000 during the nine months
ended September 30, 1996 primarily resulting from the application of certain
rental deposits to the respective deficient leases.
In the aggregate, partners' equity decreased approximately $873,000 during the
nine months ended September 30, 1996 due to distributions to Continuing Limited
Partners of approximately $137,000 and a net loss of approximately $736,000.
During the nine months ended September 30, 1996, the Partnership's operating
activities resulted in an approximate use of $1,329,000 of cash. This was due
principally to decreases in accounts payable
- 14 -
<PAGE> 15
and lessee rental deposits of approximately $595,000 and a net loss of
approximately $736,000. During the period, cash flows from investing
activities aggregated approximately $3,509,000 relating to principal
collections on leases of approximately $3,395,000, availability of restricted
cash of approximately $34,000, and collections on an installment contract of
approximately $80,000. Cash flows used for financing activities consisted of a
distribution to Continuing Limited Partners of approximately $137,000.
The Partnership's principal sources of liquidity on both a long-term and
short-term basis are receipts from leases and cash on hand. Additional sources
of liquidity on a long-term basis are expected to include proceeds from the
sale of diverted and other assets and possibly portions of the Partnership's
lease portfolio which may be sold in bulk. Management believes that its
sources of liquidity in the short and long-term are sufficient to meet its
operating cash obligations. Distributions to the Liquidating Limited Partners
were suspended after the April 1, 1995 distribution and distributions to the
Continuing Limited Partners were suspended after the January 1, 1996
distribution. Distributions were suspended to ensure that sufficient cash will
be available to pursue recoveries under pending litigation with the
Partnership's former accountants and others and to liquidate the Partnership in
an orderly manner.
The continued operation and eventual liquidation of the Partnership involves
numerous complex issues which have to be resolved. These issues relate to the
timing and realizability of lease-related assets, diverted and other assets,
Datronic assets, litigation and the liquidation of the other Datronic
Partnerships (see Notes 4, 6 and 9 to the financial statements included in the
1995 Form 10-K). These issues make it difficult to predict the time and costs
necessary to operate and liquidate the Partnership in an orderly manner. As a
result of these uncertainties, it is not possible to predict the timing and
availability of cash for future distributions to Limited Partners. However, it
is likely that the amount of future distributions, if any, to the Limited
Partners will ultimately be significantly less than the amount of Partner's
Equity reflected in the September 30, 1996 Balance Sheets (see financial
statements included in Item 1).
- 15 -
<PAGE> 16
Results of Operations
Lease income decreased approximately $128,000 and $489,000 for the three month
and nine month periods ended September 30, 1996 as compared to the
corresponding periods in 1995 primarily due to declining lease portfolios.
Settlement proceeds of approximately $426,000 recorded in the three and nine
month periods ended September 30, 1995 resulted from a settlement with the
Partnership's former attorneys. See Note 4 to the financial statements
included in Item 1.
Management fees-New Era represent amounts paid New Era for managing the
Partnership on a day-to-day basis. These fees amounted to approximately
$268,000 and $807,000 for the three and nine months ended September 30, 1996 as
compared to $283,000 and $913,000 for the same periods in 1995. See Note 8 to
the Partnership's financial statements included in the 1995 Form 10-K.
The General Partner's expense reimbursement represents the amount paid to LRC
in excess of LRC's 1% share of cash flow available for distribution. Total
amounts paid to LRC are primarily a function of the amount of time LRC spends
on the activities of the Partnership and the timing of certain LRC expenses.
Total amounts paid to LRC for the three and nine month periods ended September
30, 1996 were approximately $41,000 and $220,000 (all of which represents the
General Partner's expense reimbursement) as compared to $36,000 and $229,000
($18,000 and $161,000, respectively, representing the General Partner's expense
reimbursement and $18,000 and $68,000, respectively, representing LRC's 1% cash
available for distribution) for the corresponding periods ended September 30,
1995. See Note 7 to the Partnership's financial statements included in the
1995 Form 10-K.
Professional fees decreased approximately $138,000 and $267,000 for the three
and nine month periods ended September 30, 1996 as compared to the
corresponding periods in 1995. These decreases are primarily due to the fees
paid in 1995 in connection with the settlement with the Partnership's former
attorneys (see Note 4 to the financial statements included in Item 1) and
collections.
Other operating expenses decreased approximately $15,000 and $35,000 for the
three and nine month periods ended September 30, 1996 as compared to the
corresponding periods in 1995 due primarily to decreases in equipment sale
losses.
The 1995 credit for lease losses reflects Management's ongoing assessment of
potential losses inherent in the lease portfolio and actual collections for
certain leases in excess of those anticipated in prior years.
- 16 -
<PAGE> 17
PART II - OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
Reference is made to Item 3 - Legal Proceedings in the Partnership's December
31, 1995 Form 10-K for a discussion of material legal proceedings involving the
Partnership.
Reference is made to Part II, Item 1 - Legal Proceedings in the Partnership's
March 31, 1996 Form 10-Q for a discussion of legal proceedings involving claims
against restricted cash and diverted and other assets.
ITEM 2. CHANGES IN SECURITIES
None.
ITEM 3.
Not applicable.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
None.
ITEM 5.
Not applicable.
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) Exhibits
See Exhibit Index.
(b) Reports on Form 8-K
None.
- 17 -
<PAGE> 18
SIGNATURES
Pursuant to the requirements of the Securities Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized, on the 11th day of November 1996.
DATRONIC EQUIPMENT INCOME FUND XVII, L.P.
Registrant
By: DONALD D. TORISKY
-----------------------------------------
Donald D. Torisky
Chairman and Chief Executive Officer
Lease Resolution Corporation
General Partner of
Datronic Equipment Income Fund XVII, L.P.
By: DOUGLAS E. VAN SCOY
-----------------------------------
Douglas E. Van Scoy
Chief Financial Officer and Director
New Era Funding Corp.
Managing Agent of
Datronic Equipment Income Fund XVII, L.P.
- 18 -
<PAGE> 19
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
- ----------- -----------
27 Financial Data Schedule, which is
submitted electronically to the
Securities and Exchange Commission
for Information only and not filed.
- 19 -
<PAGE> 20
SIGNATURES
Pursuant to the requirements of the Securities Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized, on the 11th day of November 1996.
DATRONIC EQUIPMENT INCOME FUND XVII, L.P.
Registrant
By:
------------------------------------------
Donald D. Torisky
Chairman and Chief Executive Officer
Lease Resolution Corporation
General Partner of
Datronic Equipment Income Fund XVII, L.P.
By:
------------------------------------------
Douglas E. Van Scoy
Chief Financial Officer and Director
New Era Funding Corp.
Managing Agent of
Datronic Equipment Income Fund XVII, L.P.
- 18 -
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE BALANCE
SHEET AND THE STATEMENTS OF REVENUE AND EXPENSES AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH REPORT ON FORM 10-Q.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> SEP-30-1996
<CASH> 5,938,483
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 8,564,648
<CURRENT-LIABILITIES> 0
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 7,873,933
<TOTAL-LIABILITY-AND-EQUITY> 8,564,648
<SALES> 0
<TOTAL-REVENUES> 679,830
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 45,727
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 0
<INCOME-TAX> 0
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
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</TABLE>
