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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): May 18, 1998
--------------------
GOVERNMENT TECHNOLOGY SERVICES, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-19394 54-1248422
- ------------------------ ------------ -----------------
(State or other (Commission (IRS Employer
jurisdiction of File Identification
incorporation) Number) Number)
4100 Lafayette Center Drive, Chantilly, Virginia 20151-1200
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 703-502-2000
-----------------
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Item 1. Changes in Control of Registrant
Not Applicable.
Item 2. Acquisition or Disposition of Assets
Not Applicable.
Item 3. Bankruptcy or Receivership
Not Applicable.
Item 4. Changes in Registrant's Certifying Accountant
Not Applicable.
Item 5. Other Events
On May 18, 1998 Government Technology Services, Inc. ("GTSI") entered
into a letter agreement with BTG, Inc. ("BTG") regarding the disposition of
certain inventory ("Surplus Inventory") received by GTSI from BTG after the
closing on the sale to the BTG Technology Systems Division. The letter
agreement supercedes Section 2.10(c) and (d) of the Asset Purchase
Agreement ("APA") entered into on February 12, 1998 between GTSI, BTG and
two of its subsidiaries, for the sale of the BTG Technology Systems
Division. Pursuant to the letter agreement, BTG will invoice GTSI an
aggregate of $3,912,419.58, payable June 30, 1998, which represents the
amount due for any Surplus Inventory. BTG agrees to pay GTSI on June 30,
1998 $1 million, to compensate for any shortfall in the inventory
transferred pursuant to the APA. BTG also agrees to pay GTSI on June 30,
1998 a service fee of $250,000 for the costs associated with the processing
Surplus Inventory.
Item 6. Resignation of Registrant's Directors
Not Applicable.
Item 7. Financial Statements and Exhibits
(c) Exhibits
10.39 Letter Agreement between the Registrant and BTG, Inc.
executed on May 18, 1998.
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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, thereunto duly authorized.
Date: May 21, 1997
GOVERNMENT TECHNOLOGY SERVICES, INC.
By: /s/ STEPHEN L. WAECHTER
--------------------------------------
Stephen L. Waechter
Senior Vice President and
Chief Financial Officer
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INDEX TO EXHIBITS
===========================================================================
EXHIBIT |
NUMBER | DESCRIPTION
- ---------------------------------------------------------------------------
10.39 | Letter Agreement between the Registrant and BTG, Inc.
executed on May 18, 1998
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Exhibit 10.39
[BTG logo] Dr. Edward H. Bersoff
President and CEO
May 15, 1998
Dendy Young
Chairman and CEO
Government Technology Services, Inc.
4100 Lafayette Center Drive
Chantilly, VA 20151-1200
Re: Inventory
Dear Dendy:
This letter memorializes our recent conversations discussing how best
to manage the future valuation of the inventory transferred to GTSI when we
closed on our sale of the BTG Technology Systems Division. Unless
otherwise defined in this letter, capitalized terms will have the meanings
assigned to them in the Asset Purchase Agreement ("APA") dated February 12,
1998 entered into by BTG and certain of its wholly owned subsidiaries and
GTSI.
As a factual backdrop for this revised agreement, it is acknowledged
that after February 13, 1998, BTG delivered to GTSI certain inventory (the
"Surplus Inventory") not included in the Current and Noncurrent Inventory
as defined in the APA. A list of the Surplus Inventory is included as
Attachment 1 to this letter. BTG will invoice GTSI up to an aggregate of
$3,912,419.58 ($3.5 million of which has been invoiced to date - the
"Invoice"), payable June 30, 1998, representing the amount due with respect
to such Surplus Inventory.
In consideration of the following agreements, Section 2.10(c) and (d)
of the APA, which govern the manner in which Noncurrent Inventory is
disposed of and credited toward the $4.5 million Shortfall Amount, are
hereby deleted and superceded by this letter agreement, as follows:
BTG Incorporated
3877 Fairfax Ridge Road, 4G
Fairfax, VA 22030-7448
703-383-6515
Fax: 703-383-4000
[email protected]
www.btg.com
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Dendy Young
Chairman and CEO
May 15, 1998
Page Two
1. BTG agrees to pay GTSI on June 30, 1998, $1 million, which shall
constitute full and complete payment for any Shortfall Amount. BTG agrees
to pay GTSI a service fee of $250,000 for the costs associated with the
processing (receipt, warehousing, sale or ultimate disbursement) of the
Surplus Inventory. The service fee shall be due and payable on June 30,
1998.
2. BTG represents that it has good, valid and marketable title to
the Surplus Inventory, all of which is free and clear of any Liens. As a
condition to GTSI's payment of BTG's Invoice for Surplus Inventory, BTG
shall deliver to GTSI UCC termination statements or releases with respect
to all Liens affecting the Surplus Inventory, or other evidence in form and
substance reasonably satisfactory to GTSI for each Lien holder of BTG that
the liability represented by such Lien has been paid or satisfied. In
reliance upon such representations, GTSI agrees to pay the Invoice in
accordance with its terms.
If you agree, please sign and return a copy of this letter to the
attention of our General Counsel, Deborah Fox.
Thank you for your assistance with this matter.
Very truly yours,
BTG, Inc.
/s/ EDWARD H. BERSOFF
Edward H. Bersoff
APPROVED AND ACCEPTED:
Government Technology Services, Inc.
By: /s/ Dendy Young
-------------------------
Dendy Young
Chairman and CEO
Date: May 18, 1998
-------------------------
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Attachment 1
<TABLE>
<CAPTION>
Branch TY Cat Part # HW/SW TranDate Ent By Ref # RV PO # Cust/Vend Whse Qty TranCost Ext Cost
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CSTK RV CA 292148 H 2/17/98 SUNDERHI R802170002 v801160062 3COM CSTK 1 19.99 19.99
PC2 RV OT 214284 H 3/2/98 PMCCARRO R803020063 V712110046 ADESSO PC2 20 31.00 620.00
CSTK RV OT 108721 H 2/19/98 MELANIEW r802190025 v801270029 AMERICAN CSTK 480 16.75 8,040.00
CSTK RV OT 108721 H 3/2/98 SUNDERHI R803020027 v801290015 AMERICAN CSTK 10 16.75 167.50
CSTK RV OT 108721 H 3/4/98 SUNDERHI R803040050 v801270029 AMERICAN CSTK 160 16.75 2,680.00
CSTK RV OT 108721 H 3/4/98 SUNDERHI R803040049 v801280009 AMERICAN CSTK 132 16.75 2,211.00
TDA2 RV SW 109749 H 3/4/98 SUNDERHI R803040020 v802270012 CPC TDA2 15 7.08 106.20
CSTK RV OT 112272 H 3/6/98 SUNDERHI r803060016 v801150074 DELL SP CSTK 1 50.00 50.00
MSTK RV MP 200931 H 3/2/98 PMCCARRO R803020062 V801090050 DFSALLIA MSTK 1 0.00 0.00
CSTK RV OT 251290 H 2/19/98 MELANIEW r802190030 v801270039 DFSALLIA CSTK 1 39.72 39.72
MSTK RV IN 200586 H 2/19/98 MIKEF R802190022 V801230006 DFSCISCO MSTK 1 1,710.00 1,710.00
MSTK RV MP 182044 H 2/19/98 MIKEF R802190022 V801230006 DFSCISCO MSTK 1 2,850.00 2,850.00
MSTK RV SW 232192 H 2/19/98 MIKEF R802190022 V801230006 DFSCISCO MSTK 1 2,280.00 2,280.00
MSTK RV OT 181386 H 2/19/98 MIKEF R802190022 V801230006 DFSCISCO MSTK 1 2,850.00 2,850.00
MSTK RV MP 182007 H 2/19/98 MIKEF R802190022 V801230006 DFSCISCO MSTK 1 1,653.00 1,653.00
MSTK RV CA 182045 H 2/19/98 MIKEF R802190022 V801230006 DFSCISCO MSTK 1 2,565.00 2,565.00
MSTK RV SW 181721 H 2/19/98 MIKEF R802190022 V801230006 DFSCISCO MSTK 1 1,938.00 1,938.00
MSTK RV HU 229925 H 2/19/98 MIKEF R802190022 V801230006 DFSCISCO MSTK 1 2,565.00 2,565.00
MSTK RV CA 182053 H 2/19/98 MIKEF R802190022 V801230006 DFSCISCO MSTK 1 1,710.00 1,710.00
MSTK RV MP 181981 H 2/19/98 MIKEF R802190022 V801230006 DFSCISCO MSTK 1 399.00 399.00
MSTK RV UP 200168 H 2/25/98 MIKEF R802250035 V801230006 DFSCISCO MSTK 1 712.50 712.50
MSTK RV UP 200168 H 2/25/98 MIKEF R802250036 V801230007 DFSCISCO MSTK 1 712.50 712.50
MSTK RV UP 182952 H 2/25/98 MIKEF R802250037 V801230004 DFSCISCO MSTK 1 712.50 712.50
MSTK RV UP 182952 H 2/25/98 MIKEF R802250035 V801230006 DFSCISCO MSTK 2 712.50 1,425.00
MSTK RV UP 182952 H 2/25/98 MIKEF R802250036 V801230007 DFSCISCO MSTK 2 712.50 1,425.00
MSTK RV RU 215462 H 2/25/98 MIKEF R802250038 V801230005 DFSCISCO MSTK 2 5,697.15 11,394.30
MSTK RV UP 200168 H 2/25/98 MIKEF R802250038 V801230005 DFSCISCO MSTK 2 712.50 1,425.00
MSTK RV LA 145256 H 2/25/98 MIKEF R802250038 V801230005 DFSCISCO MSTK 2 11,397.15 22,794.30
MSTK RV NH 215364 H 2/25/98 MIKEF R802250038 V801230005 DFSCISCO MSTK 2 5,127.15 10,254.30
MSTK RV OT 211766 H 2/25/98 MIKEF R802250038 V801230005 DFSCISCO MSTK 2 1,707.15 3,414.30
MSTK RV UP 182952 H 2/25/98 MIKEF R802250038 V801230005 DFSCISCO MSTK 2 712.50 1,425.00
MSTK RV CA 112059 H 2/19/98 MIKEF R802190022 V801230006 DFSCISCO MSTK 3 57.00 171.00
MSTK RV HU 229925 H 2/19/98 MIKEF R802190012 V801230007 DFSCISCO MSTK 4 2,565.00 10,260.00
MSTK RV SW 181721 H 2/19/98 MIKEF R802190012 V801230007 DFSCISCO MSTK 4 1,938.00 7,752.00
MSTK RV MP 182007 H 2/19/98 MIKEF R802190012 V801230007 DFSCISCO MSTK 4 1,653.00 6,612.00
MSTK RV CA 182045 H 2/19/98 MIKEF R802190012 V801230007 DFSCISCO MSTK 4 2,565.00 10,260.00
MSTK RV SW 232192 H 2/19/98 MIKEF R802190012 V801230007 DFSCISCO MSTK 4 2,280.00 9,120.00
MSTK RV MP 181981 H 2/19/98 MIKEF R802190012 V801230007 DFSCISCO MSTK 4 399.00 1,596.00
MSTK RV OT 181386 H 2/19/98 MIKEF R802190012 V801230007 DFSCISCO MSTK 4 2,850.00 11,400.00
MSTK RV MP 182044 H 2/19/98 MIKEF R802190012 V801230007 DFSCISCO MSTK 4 2,850.00 11,400.00
MSTK RV IN 200586 H 2/19/98 MIKEF R802190012 V801230007 DFSCISCO MSTK 4 1,710.00 6,840.00
MSTK RV CA 182053 H 2/19/98 MIKEF R802190012 V801230007 DFSCISCO MSTK 4 1,710.00 6,840.00
MSTK RV CA 182053 H 2/19/98 MIKEF R802190017 V801230004 DFSCISCO MSTK 6 1,710.00 10,260.00
MSTK RV HU 229925 H 2/19/98 MIKEF R802190017 V801230004 DFSCISCO MSTK 6 2,565.00 15,390.00
MSTK RV CA 182045 H 2/19/98 MIKEF R802190017 V801230004 DFSCISCO MSTK 6 2,565.00 15,390.00
MSTK RV SW 181721 H 2/19/98 MIKEF R802190017 V801230004 DFSCISCO MSTK 6 1,938.00 11,628.00
MSTK RV MP 182044 H 2/19/98 MIKEF R802190017 V801230004 DFSCISCO MSTK 6 2,850.00 17,100.00
MSTK RV IN 200586 H 2/19/98 MIKEF R802190017 V801230004 DFSCISCO MSTK 6 1,710.00 10,260.00
MSTK RV SW 232192 H 2/19/98 MIKEF R802190017 V801230004 DFSCISCO MSTK 6 2,280.00 13,680.00
MSTK RV MP 182007 H 2/19/98 MIKEF R802190017 V801230004 DFSCISCO MSTK 6 1,653.00 9,918.00
MSTK RV OT 181386 H 2/19/98 MIKEF R802190017 V801230004 DFSCISCO MSTK 6 2,850.00 17,100.00
MSTK RV MP 181981 H 2/19/98 MIKEF R802190017 V801230004 DFSCISCO MSTK 6 399.00 2,394.00
MSTK RV HU 229925 H 2/18/98 MIKEF R802180009 V801230006 DFSCISCO MSTK 10 2,565.00 25,650.00
MSTK RV SW 181721 H 2/18/98 MIKEF R802180009 V801230006 DFSCISCO MSTK 10 1,938.00 19,380.00
MSTK RV CA 182045 H 2/18/98 MIKEF R802180009 V801230006 DFSCISCO MSTK 10 2,565.00 25,650.00
MSTK RV SW 232192 H 2/18/98 MIKEF R802180009 V801230006 DFSCISCO MSTK 10 2,280.00 22,800.00
MSTK RV IN 200586 H 2/18/98 MIKEF R802180009 V801230006 DFSCISCO MSTK 10 1,710.00 17,100.00
MSTK RV CA 182053 H 2/18/98 MIKEF R802180009 V801230006 DFSCISCO MSTK 10 1,710.00 17,100.00
MSTK RV OT 181386 H 2/18/98 MIKEF R802180009 V801230006 DFSCISCO MSTK 10 2,850.00 28,500.00
MSTK RV MP 182044 H 2/18/98 MIKEF R802180009 V801230006 DFSCISCO MSTK 10 2,850.00 28,500.00
MSTK RV MP 182007 H 2/18/98 MIKEF R802180009 V801230006 DFSCISCO MSTK 10 1,653.00 16,530.00
MSTK RV MP 181981 H 2/18/98 MIKEF R802180009 V801230006 DFSCISCO MSTK 10 399.00 3,990.00
MSTK RV CA 126830 H 2/19/98 MIKEF R802190012 V801230007 DFSCISCO MSTK 12 57.00 684.00
MSTK RV SW 182941 H 2/18/98 MIKEF R802180007 V801230005 DFSCISCO MSTK 14 373.75 5,232.50
MSTK RV LA 162824 H 2/18/98 MIKEF R802180007 V801230005 DFSCISCO MSTK 14 2,248.75 31,482.50
MSTK RV LA 162824 H 2/18/98 MIKEF R802180005 V801230004 DFSCISCO MSTK 22 2,248.75 49,472.50
MSTK RV SW 182941 H 2/18/98 MIKEF R802180005 V801230004 DFSCISCO MSTK 22 373.75 8,222.50
MSTK RV CA 112059 H 2/18/98 MIKEF R802180009 V801230006 DFSCISCO MSTK 30 57.00 1,710.00
MSTK RV RU 271445 H 2/25/98 MIKEF r802250028 v801230005 DFSCISCO MSTK 169 1,821.15 307,774.35
MSTK RV SW 182953 H 2/20/98 PMCCARRO R802200039 V801230004 DFSCISCO MSTK 1 852.15 852.15
MSTK RV LA 145256 H 2/20/98 PMCCARRO R802200053 V801230004 DFSCISCO MSTK 1 11,397.15 11,397.15
<PAGE>
<PAGE>
MSTK RV OT 211766 H 2/20/98 PMCCARRO R802200053 V801230004 DFSCISCO MSTK 1 1,707.15 1,707.15
MSTK RV NH 215364 H 2/20/98 PMCCARRO R802200053 V801230004 DFSCISCO MSTK 1 5,127.15 5,127.15
MSTK RV RU 215462 H 2/20/98 PMCCARRO R802200053 V801230004 DFSCISCO MSTK 1 5,697.15 5,697.15
MSTK RV RU 215462 H 2/18/98 PMCCARRO R802180024 V801230005 DFSCISCO MSTK 2 5,697.15 11,394.30
MSTK RV SW 182953 H 2/20/98 PMCCARRO R802200048 V801230007 DFSCISCO MSTK 2 852.15 1,704.30
MSTK RV SW 182953 H 2/20/98 PMCCARRO R802200050 V801230006 DFSCISCO MSTK 2 852.15 1,704.30
MSTK RV OT 211766 H 2/20/98 PMCCARRO R802200054 V801230007 DFSCISCO MSTK 2 1,707.15 3,414.30
MSTK RV NH 215364 H 2/20/98 PMCCARRO R802200054 V801230007 DFSCISCO MSTK 2 5,127.15 10,254.30
MSTK RV RU 215462 H 2/20/98 PMCCARRO R802200054 V801230007 DFSCISCO MSTK 2 5,697.15 11,394.30
MSTK RV LA 145256 H 2/20/98 PMCCARRO R802200054 V801230007 DFSCISCO MSTK 2 11,397.15 22,794.30
MSTK RV OT 211766 H 2/20/98 PMCCARRO R802200055 V801230006 DFSCISCO MSTK 2 1,707.15 3,414.30
MSTK RV NH 215364 H 2/20/98 PMCCARRO R802200055 V801230006 DFSCISCO MSTK 2 5,127.15 10,254.30
MSTK RV LA 145256 H 2/20/98 PMCCARRO R802200055 V801230006 DFSCISCO MSTK 2 11,397.15 22,794.30
MSTK RV RU 215462 H 2/20/98 PMCCARRO R802200055 V801230006 DFSCISCO MSTK 2 5,697.15 11,394.30
MSTK RV SW 182941 H 2/20/98 PMCCARRO R802200041 V801230006 DFSCISCO MSTK 4 373.75 1,495.00
MSTK RV LA 162824 H 2/20/98 PMCCARRO R802200051 V801230006 DFSCISCO MSTK 4 2,248.75 8,995.00
MSTK RV RU 215462 H 2/20/98 PMCCARRO R802200021 V801230005 DFSCISCO MSTK 11 5,697.15 62,668.65
MSTK RV UP 182952 H 2/20/98 PMCCARRO R802200021 V801230005 DFSCISCO MSTK 11 712.50 7,837.50
MSTK RV OT 211766 H 2/20/98 PMCCARRO R802200021 V801230005 DFSCISCO MSTK 11 1,707.15 18,778.65
MSTK RV NH 215364 H 2/20/98 PMCCARRO R802200021 V801230005 DFSCISCO MSTK 11 5,127.15 56,398.65
MSTK RV LA 145256 H 2/20/98 PMCCARRO R802200021 V801230005 DFSCISCO MSTK 11 11,397.15 125,368.65
MSTK RV CA 112059 H 2/20/98 PMCCARRO R802200034 V801230007 DFSCISCO MSTK 12 57.00 684.00
MSTK RV CA 126830 H 2/20/98 PMCCARRO R802200059 V801230007 DFSCISCO MSTK 12 57.00 684.00
MSTK RV SW 182953 H 2/20/98 PMCCARRO R802200040 V801230005 DFSCISCO MSTK 13 852.15 11,077.95
MSTK RV LA 126865 H 2/20/98 PMCCARRO R802200057 V801230007 DFSCISCO MSTK 13 852.15 11,077.95
MSTK RV SW 252869 H 2/20/98 PMCCARRO R802200057 V801230007 DFSCISCO MSTK 13 1,083.00 14,079.00
MSTK RV MP 162957 H 2/20/98 PMCCARRO R802200057 V801230007 DFSCISCO MSTK 13 570.00 7,410.00
MSTK RV MP 109549 H 2/20/98 PMCCARRO R802200057 V801230007 DFSCISCO MSTK 13 399.00 5,187.00
MSTK RV LA 162824 H 2/20/98 PMCCARRO R802200019 V801230007 DFSCISCO MSTK 14 2,248.75 31,482.50
MSTK RV LA 105442 H 2/20/98 PMCCARRO R802200033 V801230007 DFSCISCO MSTK 14 57.00 798.00
MSTK RV SW 182941 H 2/20/98 PMCCARRO R802200045 DFSCISCO MSTK 14 373.75 5,232.50
MSTK RV SW 182941 H 2/20/98 PMCCARRO R802200046 V801230007 DFSCISCO MSTK 14 373.75 5,232.50
MSTK RV SW 182941 H 2/20/98 PMCCARRO R802200060 V801230005 DFSCISCO MSTK 14 373.75 5,232.50
MSTK RV LA 126865 H 2/20/98 PMCCARRO R802200056 V801230004 DFSCISCO MSTK 15 852.15 12,782.25
MSTK RV MP 162957 H 2/20/98 PMCCARRO R802200056 V801230004 DFSCISCO MSTK 15 570.00 8,550.00
MSTK RV MP 109549 H 2/20/98 PMCCARRO R802200056 V801230004 DFSCISCO MSTK 15 399.00 5,985.00
MSTK RV SW 252869 H 2/20/98 PMCCARRO R802200056 V801230004 DFSCISCO MSTK 15 1,083.00 16,245.00
MSTK RV RU 271445 H 2/23/98 PMCCARRO R802230011 V801230006 DFSCISCO MSTK 15 1,821.15 27,317.25
MSTK RV CA 112059 H 2/20/98 PMCCARRO R802200035 V801230004 DFSCISCO MSTK 18 57.00 1,026.00
MSTK RV CA 126830 H 2/20/98 PMCCARRO R802200038 V801230004 DFSCISCO MSTK 18 57.00 1,026.00
MSTK RV SW 182941 H 2/20/98 PMCCARRO R802200065 V801230004 DFSCISCO MSTK 22 373.75 8,222.50
MSTK RV SW 273271 H 3/2/98 PMCCARRO R803020014 V801230003 DFSCISCO MSTK 25 1,938.00 48,450.00
MSTK RV SW 181721 H 2/20/98 PMCCARRO R802200052 V801230005 DFSCISCO MSTK 26 1,938.00 50,388.00
MSTK RV SW 232192 H 2/20/98 PMCCARRO R802200052 V801230005 DFSCISCO MSTK 26 2,280.00 59,280.00
MSTK RV OT 181386 H 2/20/98 PMCCARRO R802200052 V801230005 DFSCISCO MSTK 26 2,850.00 74,100.00
MSTK RV MP 182007 H 2/20/98 PMCCARRO R802200052 V801230005 DFSCISCO MSTK 26 1,653.00 42,978.00
MSTK RV CA 182053 H 2/20/98 PMCCARRO R802200052 V801230005 DFSCISCO MSTK 26 1,710.00 44,460.00
MSTK RV HU 229925 H 2/20/98 PMCCARRO R802200052 V801230005 DFSCISCO MSTK 26 2,565.00 66,690.00
MSTK RV IN 200586 H 2/20/98 PMCCARRO R802200052 V801230005 DFSCISCO MSTK 26 1,710.00 44,460.00
MSTK RV MP 181981 H 2/20/98 PMCCARRO R802200052 V801230005 DFSCISCO MSTK 26 399.00 10,374.00
MSTK RV MP 182044 H 2/20/98 PMCCARRO R802200052 V801230005 DFSCISCO MSTK 26 2,850.00 74,100.00
MSTK RV CA 182045 H 2/20/98 PMCCARRO R802200052 V801230005 DFSCISCO MSTK 26 2,565.00 66,690.00
MSTK RV SW 229525 H 3/2/98 PMCCARRO R803020013 V801230003 DFSCISCO MSTK 30 513.00 15,390.00
MSTK RV MP 162957 H 2/20/98 PMCCARRO R802200003 DFSCISCO MSTK 32 570.00 18,240.00
MSTK RV MP 109549 H 2/20/98 PMCCARRO R802200003 DFSCISCO MSTK 32 399.00 12,768.00
MSTK RV SW 252869 H 2/20/98 PMCCARRO R802200003 DFSCISCO MSTK 32 1,083.00 34,656.00
MSTK RV LA 126865 H 2/20/98 PMCCARRO R802200003 DFSCISCO MSTK 32 852.15 27,268.80
MSTK RV LA 126865 H 2/20/98 PMCCARRO R802200004 V801230005 DFSCISCO MSTK 32 852.15 27,268.80
MSTK RV SW 252869 H 2/20/98 PMCCARRO R802200004 V801230005 DFSCISCO MSTK 32 1,083.00 34,656.00
MSTK RV MP 162957 H 2/20/98 PMCCARRO R802200004 V801230005 DFSCISCO MSTK 32 570.00 18,240.00
MSTK RV MP 109549 H 2/20/98 PMCCARRO R802200004 V801230005 DFSCISCO MSTK 32 399.00 12,768.00
MSTK RV RU 271445 H 2/26/98 PMCCARRO R802260040 DFSCISCO MSTK 32 1,821.15 58,276.80
MSTK RV RU 271445 H 2/26/98 PMCCARRO R802260043 V801230007 DFSCISCO MSTK 32 1,821.15 58,276.80
MSTK RV RU 271445 H 2/26/98 PMCCARRO R802260041 V801230004 DFSCISCO MSTK 59 1,821.15 107,447.85
MSTK RV CA 126830 H 2/20/98 PMCCARRO R802200025 DFSCISCO MSTK 78 57.00 4,446.00
MSTK RV CA 112059 H 2/20/98 PMCCARRO R802200027 V801230005 DFSCISCO MSTK 78 57.00 4,446.00
MSTK RV CA 126830 H 2/20/98 PMCCARRO R802200031 V801230005 DFSCISCO MSTK 78 57.00 4,446.00
MSTK RV CA 126830 H 2/20/98 PMCCARRO R802190012 V801230007 DFSCISCO MSTK (12) 57.00 (684.00)
MSTK RV SW 182941 H 2/20/98 PMCCARRO R802180007 V801230005 DFSCISCO MSTK (14) 373.75 (5,232.50)
MSTK RV SW 182941 H 2/20/98 PMCCARRO R802200045 DFSCISCO MSTK (14) 373.75 (5,232.50)
MSTK RV SW 182941 H 2/20/98 PMCCARRO R802180005 V801230004 DFSCISCO MSTK (22) 373.75 (8,222.50)
MSTK RV LA 126865 H 2/20/98 PMCCARRO R802200003 DFSCISCO MSTK (32) 852.15 (27,268.80)
MSTK RV SW 252869 H 2/20/98 PMCCARRO R802200003 DFSCISCO MSTK (32) 1,083.00 (34,656.00)
MSTK RV MP 162957 H 2/20/98 PMCCARRO R802200003 DFSCISCO MSTK (32) 570.00 (18,240.00)
MSTK RV MP 109549 H 2/20/98 PMCCARRO R802200003 DFSCISCO MSTK (32) 399.00 (12,768.00)
MSTK RV RU 271445 H 2/26/98 PMCCARRO R802260040 DFSCISCO MSTK (32) 1,821.15 (58,276.80)
MSTK RV CA 126830 H 2/20/98 PMCCARRO R802200025 DFSCISCO MSTK (78) 57.00 (4,446.00)
CSTK RV OT 257041 H 2/20/98 CLAIREW r802200002 v801300044 DFSCISCO CSTK 2 10,327.59 20,655.18
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CSTK RV UP 182087 H 2/23/98 CLAIREW r802200001 v801300002 DFSCISCO CSTK 2 1,890.00 3,780.00
CSTK RV MP 181981 H 2/23/98 CLAIREW r802200001 v801300002 DFSCISCO CSTK 2 441.00 882.00
CSTK RV CA 182045 H 2/23/98 CLAIREW r802200001 v801300002 DFSCISCO CSTK 2 2,835.00 5,670.00
CSTK RV HU 229925 H 2/23/98 CLAIREW r802200001 v801300002 DFSCISCO CSTK 2 2,835.00 5,670.00
CSTK RV CA 214343 H 2/23/98 CLAIREW r802200001 v801300002 DFSCISCO CSTK 2 5,040.00 10,080.00
CSTK RV OT 181386 H 2/23/98 CLAIREW r802200001 v801300002 DFSCISCO CSTK 2 3,150.00 6,300.00
CSTK RV SW 253609 H 2/23/98 CLAIREW r802200001 v801300002 DFSCISCO CSTK 2 1,890.00 3,780.00
CSTK RV HU 200872 H 2/23/98 CLAIREW r802200001 v801300002 DFSCISCO CSTK 2 630.00 1,260.00
CSTK RV LA 105442 H 2/23/98 CLAIREW r802200001 v801300002 DFSCISCO CSTK 24 63.00 1,512.00
CSTK RV OT 280653 H 3/25/98 SUNDERHI r803250065 v801060009 DFSCISCO CSTK 1 6,296.85 6,296.85
CSTK RV LA 127196 H 3/25/98 SUNDERHI r803250066 v801230013 DFSCISCO CSTK 1 2,898.00 2,898.00
CSTK RV RU 214271 H 3/25/98 SUNDERHI r803250067 v801300036 DFSCISCO CSTK 2 1,571.85 3,143.70
CSTK RV RU 228095 H 3/25/98 SUNDERHI r803250067 v801300036 DFSCISCO CSTK 8 941.85 7,534.80
CSTK RV NH 199631 H 3/25/98 SUNDERHI r803250067 v801300036 DFSCISCO CSTK 14 1,256.85 17,595.90
MGSA RV UN 291394 H 2/18/98 MIKEF R802180018 V801230074 DFSCOMPA MGSA 1 4,424.00 4,424.00
MGSA RV DH 128163 H 2/24/98 PMCCARRO R802240009 V801260073 DFSCOMPA MGSA 1 699.00 699.00
MSTK RV OT 291414 H 2/18/98 MIKEF R802180019 V801230073 DFSCOMPA MSTK 1 99.00 99.00
MSTK RV OT 239978 H 2/27/98 PMCCARRO R802270053 V801230073 DFSCOMPA MSTK 16 254.00 4,064.00
TDA2 RV OT 108950 H 3/12/98 SUNDERHI r803120027 v802270013 DFSDELL TDA2 1 172.00 172.00
TDA2 RV B BTDA3402A H 3/11/98 SUNDERHI R803110006 v802270014 DFSDELL TDA2 5 2,597.00 12,985.00
CSTK RV B BTDA9068.1 H 2/17/98 CLAIREW r802170004 v711110015 DFSDELL CSTK 12 1,263.00 15,156.00
CSTK RV B BTVA1520D H 2/17/98 SUNDERHI r802130003 v801210053 DFSDELL CSTK 1 2,965.00 2,965.00
CSTK RV B BTVA1020D4 H 2/17/98 SUNDERHI r802130005 v801260052 DFSDELL CSTK 5 1,385.00 6,925.00
CSTK RV B BTVA1040D8 H 2/17/98 SUNDERHI r802130010 v801260071 DFSDELL CSTK 34 1,560.00 53,040.00
CSTK RV OT 228229 H 2/17/98 SUNDERHI r802130007 v801270031 DFSDELL CSTK 1 315.00 315.00
CSTK RV B BTDA3412 H 2/17/98 SUNDERHI r802130004 v801290027 DFSDELL CSTK 3 3,275.00 9,825.00
CSTK RV B BTDA5206A H 2/17/98 SUNDERHI R802170007 v801290028 DFSDELL CSTK 2 1,436.00 2,872.00
CSTK RV B BTDA9090 H 2/17/98 SUNDERHI R802170006 v801290029 DFSDELL CSTK 2 2,224.00 4,448.00
CSTK RV B BTVA1540D H 2/17/98 SUNDERHI r802130006 v801300021 DFSDELL CSTK 1 3,222.00 3,222.00
CSTK RV B BTDA5200A H 2/17/98 SUNDERHI R802170005 v801300030 DFSDELL CSTK 4 1,364.00 5,456.00
CSTK RV B BTVA1520D H 2/23/98 SUNDERHI R802230002 v801260067 DFSDELL CSTK 5 2,965.00 14,825.00
CSTK RV B btda9015a H 2/24/98 SUNDERHI r802240001 v708210023 DFSDELL CSTK 12 1,294.00 15,528.00
CSTK RV B BTDA5416 H 2/26/98 SUNDERHI r802260001 v801260036 DFSDELL CSTK 4 1,267.00 5,068.00
CSTK RV OT 292295 H 2/26/98 SUNDERHI R802260058 v801300019 DFSDELL CSTK 1 298.00 298.00
CSTK RV B BTDA5316 H 3/2/98 SUNDERHI R803020052 v801260033 DFSDELL CSTK 4 1,630.00 6,520.00
CSTK RV B BTDA9094 H 3/3/98 SUNDERHI R803030001 v801280013 DFSDELL CSTK 2 3,997.00 7,994.00
CSTK RV B BHC0001 H 3/5/98 SUNDERHI r803050032 v801120060 DFSDELL CSTK 1 4,779.74 4,779.74
CSTK RV B BTDA9092 H 3/5/98 SUNDERHI r803050001 v801220025 DFSDELL CSTK 34 1,420.00 48,280.00
CSTK RV OT 200841 H 3/5/98 SUNDERHI r803050033 v801280011 DFSDELL CSTK 1 44.00 44.00
CSTK RV OT 213446 H 3/11/98 MELANIEW r803110011 v801140069 DFSDELL CSTK 38 71.00 2,698.00
CSTK RV B BTDA3402A H 3/20/98 SUNDERHI R803200025 v801260032 DFSDELL CSTK 10 2,597.00 25,970.00
CSTK RV MD 215621 H 2/19/98 MELANIEW r802190031 v801120016 DFSINGRA CSTK 5 165.16 825.80
CSTK RV DC 292512 H 2/19/98 MELANIEW r802190029 v801280017 DFSINGRA CSTK 1 26.60 26.60
MSTK RV DH 227481 H 3/2/98 PMCCARRO R803020060 V711050025 DFSTECHD MSTK 20 515.00 10,300.00
CSTORE RV OT 255679 H 2/18/98 MELANIEW r801190068 v801160028 DFSTECHD CSTORE 1 156.00 156.00
CSTORE RV SW 113149 H 2/18/98 MELANIEW r801190068 v801160028 DFSTECHD CSTORE 1 57.67 57.67
CSTK RV OT 288206 H 2/26/98 SUNDERHI R802260073 v801210005 DFSTECHD CSTK 1 529.00 529.00
MGSA RV PL 192462 H 2/26/98 PMCCARRO R802260036 V801300055 DFSTEKTR MGSA 7 4,104.05 28,728.35
CSTK RV SW 232992 H 3/10/98 SUNDERHI R803100029 v801020013 DLT CSTK 1 395.00 395.00
CSTK RV OT 291412 H 3/12/98 SUNDERHI r803120022 v801220015 DLT CSTK 1 136.00 136.00
MSTK RV UP 215182 H 2/19/98 PMCCARRO R802190032 V711240008 ENERGYTE MSTK 3 4,116.00 12,348.00
MSTK RV MP 287995 H 3/4/98 PMCCARRO R803040011 V712090022 GRTLAKES MSTK 1 1,600.00 1,600.00
MSTK RV MP 287988 H 3/4/98 PMCCARRO R803040011 V712090022 GRTLAKES MSTK 1 1,600.00 1,600.00
MSTK RV MP 287988 H 3/4/98 PMCCARRO R803040011 V712090022 GRTLAKES MSTK (1) 1,600.00 (1,600.00)
MSTK RV CA 195427 H 2/18/98 MIKEF R802180016 V801150046 HEWLETTP MSTK 3 58.00 174.00
PC2 RV UD 251121 H 3/3/98 MIKEF r803030039 v709170137 HEWLETTP PC2 379 987.80 374,376.20
PC2 RV OT 215923 H 3/3/98 MIKEF r803030039 v709170137 HEWLETTP PC2 379 5.00 1,895.00
PC2 RV OT 251123 H 3/3/98 MIKEF r803030039 v709170137 HEWLETTP PC2 379 15.00 5,685.00
PC2 RV MP 215685 H 3/3/98 MIKEF r803030039 v709170137 HEWLETTP PC2 379 84.00 31,836.00
PC2 RV OT 195669 H 3/3/98 MIKEF r803030039 v709170137 HEWLETTP PC2 379 47.20 17,888.80
PC2 RV SW 251425 H 3/3/98 MIKEF r803030039 v709170137 HEWLETTP PC2 379 0.00 0.00
PC2 RV IN 251125 H 3/3/98 MIKEF r803030039 v709170137 HEWLETTP PC2 379 86.00 32,594.00
PC2 RV DH 228672 H 3/3/98 MIKEF r803030039 v709170137 HEWLETTP PC2 379 181.00 68,599.00
PC2 RV UD 285865 H 2/18/98 PMCCARRO R802180030 V801200029 HEWLETTP PC2 200 427.80 85,560.00
PC2 RV MP 215685 H 2/18/98 PMCCARRO R802180030 V801200029 HEWLETTP PC2 200 84.00 16,800.00
PC2 RV DC 285866 H 2/18/98 PMCCARRO R802180030 V801200029 HEWLETTP PC2 200 70.00 14,000.00
PC2 RV OT 195669 H 2/18/98 PMCCARRO R802180030 V801200029 HEWLETTP PC2 200 47.20 9,440.00
PC2 RV OT 285867 H 2/18/98 PMCCARRO R802180030 V801200029 HEWLETTP PC2 200 30.00 6,000.00
PC2 RV OT 215923 H 2/18/98 PMCCARRO R802180030 V801200029 HEWLETTP PC2 200 5.00 1,000.00
PC2 RV MD 285868 H 2/18/98 PMCCARRO R802180030 V801200029 HEWLETTP PC2 200 5.00 1,000.00
PC2 RV SW 251425 H 2/18/98 PMCCARRO R802180030 V801200029 HEWLETTP PC2 200 0.00 0.00
PC2 RV DH 228672 H 2/18/98 PMCCARRO R802180030 V801200029 HEWLETTP PC2 200 181.00 36,200.00
MSTK RV PA 102912 H 2/18/98 PMCCARRO R802180025 V801300027 HEWLETTS MSTK 25 22.37 559.25
MSTK RV PA 102911 H 2/18/98 PMCCARRO R802180029 V801300027 HEWLETTS MSTK 25 22.37 559.25
MSTK RV PA 102910 H 2/18/98 PMCCARRO R802180029 V801300027 HEWLETTS MSTK 25 22.37 559.25
MSTK RV PA 110040 H 2/18/98 PMCCARRO R802180029 V801300027 HEWLETTS MSTK 40 21.09 843.60
TDA2 RV OT 191881 H 3/3/98 SUNDERHI R803030008 v802270011 INGRAM TDA2 4 23.47 93.88
MSTK RV UT 285064 H 3/17/98 MIKEF R803170028 V712110035 KANEMAT MSTK 4 2,274.00 9,096.00
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MSTK RV UT 285064 H 3/17/98 MIKEF R803170027 V712120021 KANEMAT MSTK 55 2,274.00 125,070.00
PC2 RV PL 278732 H 3/12/98 MIKEF R803120036 V801080046 LEXMARK PC2 4 800.00 3,200.00
PC2 RV PL 278732 H 3/12/98 MIKEF R803120037 V801190044 LEXMARK PC2 5 800.00 4,000.00
MGSA RV CS 129729 H 3/10/98 MIKEF R803100001 V801300045 MICRO MGSA 20 78.00 1,560.00
MGSA RV CS 292530 H 3/13/98 MIKEF R803130024 V801300045 MICRO MGSA 150 74.10 11,115.00
MGSA RV CS 292530 H 3/10/98 MIKEF R802040011 MICRO MGSA (20) 74.10 (1,482.00)
CSTK RV SW 110308 H 3/25/98 MELANIEW r803250040 v801280040 MICRO EF CSTK 300 12.56 3,768.00
MSTK RV UT 256778 H 3/19/98 MIKEF R803190079 V801120005 MICRON MSTK 4 2,295.00 9,180.00
CSTK RV DH 290228 H 2/17/98 CLAIREW r802170001 v801190011 MICROSEN CSTK 107 349.00 37,343.00
CSTK RV SW 226751 H 2/17/98 CLAIREW r802170003 v801050016 MICROSOF CSTK 19 237.00 4,503.00
CSTK RV OT 292579 H 2/24/98 SUNDERHI R802240011 v801300066 PCCONEPT CSTK 1 52.90 52.90
MGSA RV SW 119518 H 2/18/98 PMCCARRO R802180022 V801260028 POWERSFT MGSA 3 777.00 2,331.00
CSTK RV CA 101081 H 3/2/98 SUNDERHI R803020017 v801220029 SO HILLS CSTK 2 12.25 24.50
CSTK RV LA 101160 H 3/2/98 SUNDERHI R803020017 v801220029 SO HILLS CSTK 2 315.00 630.00
CSTK RV OT 109847 H 3/10/98 HMAYES r803100058 v801220029 SO HILLS CSTK 2 31.00 62.00
TDA2 RV MP 215192 H 3/2/98 SUNDERHI R803020038 v802270016 SOUTHLAN TDA2 1 64.00 64.00
MSTK RV SW 268728 H 2/18/98 PMCCARRO R802180021 V712030014 STREAM MSTK 1 194.00 194.00
TDA2 RV OT 212156 H 3/2/98 SUNDERHI R803020039 v802270015 TECHDATA TDA2 1 204.58 204.58
CSTK RV UN 256459 H 3/6/98 SUNDERHI r803060027 v712090107 TOSHINFO CSTK 7 4,530.44 31,713.08
CSTK RV OT 146665 H 3/9/98 MELANIEW R803090021 v801230023 TOSHINFO CSTK 2 456.44 912.88
CSTK RV UN 256459 H 3/16/98 SUNDERHI R803160036 v712090107 TOSHINFO CSTK 3 4,530.44 13,591.32
MSTK RV RU 206662 H 2/18/98 MIKEF R802180010 V801230022 WESTCON MSTK 1 8,836.60 8,836.60
CSTK RV OT 163674 H 2/19/98 MELANIEW r802060019 v801270040 WESTCON CSTK 2 1,262.25 2,524.50
CSTK RV LA 193376 H 3/4/98 SUNDERHI R803040053 v710060074 WESTCON CSTK 3 1,965.00 5,895.00
MGSA RV MP 162441 H 2/9/98 PMCCARRO R802090010 DFSCOMPA MGSA 150 182.00 27,300.00
MGSA RV UT 227553 H 2/12/98 PMCCARRO R802120006 DFSCOMPA MGSA 1 28.00 28.00
MGSA RV DH 289336 H 2/12/98 PMCCARRO R802120012 DFSCOMPA MGSA 1 1,499.00 1,499.00
MGSA RV OT 288114 H 2/12/98 PMCCARRO R802120020 TEKTRZT MGSA 1 13,796.55 13,796.55
MGSA RV SW 280654 H 2/12/98 PMCCARRO R802120021 TEKTRZT MGSA 7 971.75 6,802.25
MSTK RV LA 145256 H 2/9/98 PMCCARRO R802090004 DFSCISCO MSTK 2 11,397.15 22,794.30
MSTK RV DH 233285 H 2/9/98 PMCCARRO R802090005 MEGAD MSTK 3 660.00 1,980.00
MSTK RV OT 113192 H 2/9/98 PMCCARRO R802090005 MEGAD MSTK 3 63.00 189.00
MSTK RV DH 233289 H 2/9/98 PMCCARRO R802090005 MEGAD MSTK 8 1,287.00 10,296.00
MSTK RV OT 292124 H 2/9/98 PMCCARRO R802090007 MIL-3INC MSTK 1 23,000.00 23,000.00
MSTK RV IN 213528 H 2/9/98 PMCCARRO R802090008 SYMBIOLC MSTK 26 169.00 4,394.00
MSTK RV IN 285708 H 2/9/98 PMCCARRO R802090009 IMAGEX MSTK 1 2,490.00 2,490.00
MSTK RV OT 291430 H 2/9/98 PMCCARRO R802090011 RICOH MSTK 1 2,900.00 2,900.00
MSTK RV MP 113552 H 2/10/98 PMCCARRO R802100001 REALWORL MSTK 5 88.00 440.00
MSTK RV MP 271676 H 2/10/98 PMCCARRO R802100002 WYLE MSTK 5 38.00 190.00
MSTK RV LA 190910 H 2/10/98 PMCCARRO R802100009 DFSTECHD MSTK 19 363.18 6,900.42
MSTK RV PJ 243018 H 2/10/98 PMCCARRO R802100010 HEWLETTS MSTK 1 102.40 102.40
MSTK RV PJ 243019 H 2/10/98 PMCCARRO R802100010 HEWLETTS MSTK 1 102.40 102.40
MSTK RV PJ 243020 H 2/10/98 PMCCARRO R802100010 HEWLETTS MSTK 1 102.40 102.40
MSTK RV UT 291429 H 2/10/98 PMCCARRO R802100011 MICRON MSTK 1 2,564.00 2,564.00
MSTK RV MP 267383 H 2/10/98 PMCCARRO R802100013 MICROAGE MSTK 4 126.20 504.80
MSTK RV MP 232181 H 2/11/98 PMCCARRO R802110004 SMARTMOD MSTK 16 38.00 608.00
MSTK RV UP 163919 H 2/11/98 PMCCARRO R802110006 TRIPP1 MSTK 1 756.00 756.00
MSTK RV UP 120034 H 2/11/98 PMCCARRO R802110006 TRIPP1 MSTK 2 139.50 279.00
MSTK RV SW 228527 H 2/12/98 MIKEF r802120001 TRUSTEDI MSTK 1 1,050.00 1,050.00
MSTK RV IN 226269 H 2/12/98 PMCCARRO R802120005 DFSCOMPA MSTK 1 1,500.00 1,500.00
MSTK RV DH 127834 H 2/12/98 PMCCARRO R802120008 DFSCOMPA MSTK 2 589.00 1,178.00
MSTK RV MP 200578 H 2/12/98 PMCCARRO R802120013 DFSCOMPA MSTK 1 850.00 850.00
MSTK RV CA 126830 H 2/12/98 PMCCARRO R802120014 DFSCISCO MSTK 33 57.00 1,881.00
MSTK RV OT 123306 H 2/12/98 PMCCARRO R802120015 DFSTECHD MSTK 2 31.97 63.94
MSTK RV PA 130794 H 2/12/98 PMCCARRO R802120016 DFSTEKTR MSTK 1 74.10 74.10
MSTK RV PA 130744 H 2/12/98 PMCCARRO R802120018 DFSTEKTR MSTK 1 77.22 77.22
MSTK RV PA 130745 H 2/12/98 PMCCARRO R802120018 DFSTEKTR MSTK 1 77.22 77.22
MSTK RV PL 251333 H 2/12/98 PMCCARRO R802120018 DFSTEKTR MSTK 1 3,461.15 3,461.15
MSTK RV PA 130747 H 2/12/98 PMCCARRO R802120018 DFSTEKTR MSTK 1 0.00 0.00
MSTK RV PA 130746 H 2/12/98 PMCCARRO R802120018 DFSTEKTR MSTK 1 77.22 77.22
MSTK RV PA 119971 H 2/12/98 PMCCARRO R802120019 DFSTEKTR MSTK 1 381.15 381.15
MSTK RV PA 119977 H 2/12/98 PMCCARRO R802120019 DFSTEKTR MSTK 1 230.10 230.10
MSTK RV LA 194174 H 2/12/98 PMCCARRO R802120019 DFSTEKTR MSTK 1 381.15 381.15
MSTK RV SR 251336 H 2/12/98 PMCCARRO R802120024 DFSTEKTR MSTK 1 458.15 458.15
MSTK RV CA 108303 H 2/12/98 PMCCARRO R802120025 HEWLETTP MSTK 1 11.02 11.02
MSTK RV SW 255437 H 2/12/98 PMCCARRO R802120027 XYLAN MSTK 2 0.00 0.00
MSTK RV RU 255532 H 2/12/98 PMCCARRO R802120027 XYLAN MSTK 2 3,379.00 6,758.00
MSTK RV MP 226323 H 2/12/98 PMCCARRO R802120027 XYLAN MSTK 2 3,999.00 7,998.00
PC2 RV LA 214136 H 2/10/98 PMCCARRO R802100012 3COM PC2 100 45.00 4,500.00
PC2 RV LA 214136 H 2/10/98 PMCCARRO R802100014 3COM PC2 300 45.00 13,500.00
TOTAL GTSI LIABILITY 3,912,419.50
</TABLE>
