Exhibit 10.20
AMENDED AND RESTATED SECURITY AGREEMENT
THIS AMENDED AND RESTATED SECURITY AGREEMENT is made and entered into as
of the 30th day of July, 1999, by and between AMITEK CORPORATION, a Delaware
corporation ("Debtor"), and NATIONAL BANK OF CANADA, a Canadian Chartered Bank
("Secured Party").
WITNESSETH:
WHEREAS, Secured Party has previously extended financing to M&K
TECHNOLOGY, INC., a Florida corporation ("M&K"), and AMITEK CORPORATION, a
Florida corporation ("Amitek Florida", Amitek Florida and M&K collectively,
"Original Debtor"), as most recently evidenced by that certain Consolidation
Master Revolving Promissory Note in the principal amount of Fourteen Million and
00/100 Dollars ($14,000,000.00) executed by Original Debtor in favor of Secured
Party dated as of February 8, 1999, and that certain CAPEX Line/Term Promissory
Note in the original principal amount of One Million Six Hundred Seventy-Five
Thousand and 00/100 Dollars ($1,675,000.00) executed by Original Debtor in favor
of Secured Party dated as of June 4, 1998 (collectively, the "Original Notes"),
the indebtedness evidenced by the Original Notes having been assumed by Debtor,
pursuant to that certain Assumption and Modification Master Revolving Promissory
Note in the principal amount of Fourteen Million and 00/100 Dollars
($14,000,000.00) executed by Debtor in favor of Secured Party dated of even date
herewith and that certain Assumption and Modification CAPEX Line/Term Promissory
Note in the principal amount of Five Hundred Seventy-Six Thousand Three Hundred
Six and 54/100 Dollars ($576,306.54) executed by Debtor in favor of Secured
Party dated of even date herewith (collectively, as amended, extended or renewed
from time to time, the "Note" or the "Notes"); and
WHEREAS, in connection with the original indebtedness described above, the
Original Debtors and Secured Party entered into that certain Loan Agreement
dated as of June 4, 1998, as amended by First Amendment to Loan Agreement dated
as of September 23, 1998, as further amended by Second Amendment to Loan
Agreement dated as of February 8, 1999 (collectively, the "Original Loan
Agreement"), which Original Loan Agreement has been assumed by Debtor and
amended and restated pursuant to that certain Amended and Restated Loan
Agreement of even date herewith executed by Debtor and Secured Party (as amended
from time to time, the "Loan Agreement"); and
WHEREAS, as security for the indebtedness evidenced by the Original Notes
and the Original Loan Agreement, Original Debtor did executed that certain
Security Agreement in favor of Secured Party dated as of June 4, 1998, as
amended and reaffirmed by that certain Reaffirmation of Security Agreement and
Other Documents dated as of September 23, 1998, as further amended and
reaffirmed by that certain Reaffirmation of Security Agreement and Other
Documents dated as of February 8, 1999 (collectively, the "Original Security
Agreement"), whereby and whereunder, the Original Debtors granted a security
interest in Original Debtors' assets in favor of Secured Party as security for
the repayment of all debts and obligations of the Original Debtors to Secured
Party; and
WHEREAS, Debtor has become the owner of all of the assets of Amitek
Florida, by virtue of Amitek Florida being merged into CENTURY ELECTRONICS
MANUFACTURING, INC., a Delaware corporation ("Century"), with Century being the
surviving corporation and Century immediately after closing of the above
described merger having conveyed all of the assets of Amitek Florida to the
Debtor, together with Debtor having assumed all liabilities of Amitek (it being
acknowledged that Debtor is a wholly owned subsidiary corporation of Century);
and
WHEREAS, Secured Party has required and Debtor has agreed to grant, and to
continue to grant, as applicable, a security interest in all of Debtor's assets
(certain of said assets being formerly owned by Amitek Florida, such that all
assets formerly owned by Amitek Florida are now owned by Debtor), in favor of
Secured Party as security for the repayment of all debts and obligations of
Debtor to Secured Party, including, without limitation, all debts and
obligations due and owing under the Notes and the Loan Agreement; and
WHEREAS, it is acknowledged that it is a condition precedent to Secured
Party allowing the assumption of the indebtedness evidenced by the Original
Notes by Debtor and the making of advances by Secured Party under the Notes and
the Loan Agreement, that Debtor shall have granted or continued to grant, as
applicable, a security interest in certain assets of Debtor in favor of Secured
Party as hereinafter provided.
NOW, THEREFORE, in consideration of the premises, and in order to induce
Secured Party to allow the assumption of the above described indebtedness by
Debtor, and, to make advances under the Notes and the Loan Agreement, Debtor
hereby agrees as follows:
1. Creation and Grant of Securities. Debtor hereby grants, assigns and
pledges, in favor of Secured Party, a security interest in all of the property
described and listed below and in all parts, accessories, attachments,
additions, replacements, accessions, substitutions, increases, profits, income,
distributions, proceeds and products thereof in any form (including, without
limitation, insurance proceeds) together with all records relating thereto (the
"Collateral"):
A. All accounts, accounts receivable, patents, trademarks, tradenames,
licenses, franchises, general intangibles, contract rights and other obligations
of any kind, whether now owned or hereafter acquired by Debtor and all proceeds
of the foregoing and all rights now or hereafter existing in and to all security
agreements, leases and other contracts securing or otherwise relating to any
such accounts, contract rights, chattel paper instruments, general intangibles
or obligations (any and all such accounts, contract rights, chattel paper
instruments, general intangibles and obligations being the "Receivables"; and
any and all such leases, security agreements and other contracts being the
"Related Contracts"); all of Debtor's right, title and interest in, to and in
respect of all goods relating to, or which by sale have resulted in Receivables,
including without limitation, all goods described in invoices, documents,
contracts or instruments, with respect to, or otherwise representing or
evidencing any Receivables or other collateral, including, without limitation,
all returned, reclaimed or repossessed goods, all deposit accounts, all books,
records, ledger cards, computer programs and other property and general
intangibles evidencing or relating to the
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Receivables, and any other collateral, together with the file cabinets or
containers in which the foregoing are stored, and all other general intangibles
of every kind and description, and all proceeds, profits, deposits, products and
accessions of and to all of the foregoing.
B. All of Debtor's right, title and interest as Lessee in and to all
leases and rental arrangements of any property leased by Debtor, or any part
thereof, heretofore made and entered into and in and to all leases and rental
arrangements hereafter made and entered into by or on behalf of Debtor together
with any and all guarantees of such leases or rental arrangements, and all
present and future security deposits and advance rentals.
C. All equipment (as such term is defined in the Uniform Commercial Code,
as in effect from time to time in the State of Florida), machinery, furniture,
fixtures, computer hardware and software, hand and power tools, trucks,
trailers, forklifts, automobiles and other motor vehicles, and heavy equipment
in all of its forms, wherever located, now or hereafter acquired or existing,
and all parts thereof and all accessions thereto (any and all such machinery,
equipment, fixtures, parts and accessions being the "Equipment"). The Equipment
includes, without limitation, all of the items set forth on Exhibit "A" attached
hereto and made a part hereof.
D. All inventory in all of its forms, wherever located, now or hereafter
existing, including, without limitation, raw materials, work in process, parts,
components, assemblies, supplies and materials used or consumed in Debtor's
business, finished goods and all other inventory of whatsoever kind or nature,
wherever located, whether now owned or hereafter existing or acquired by Debtor,
including, without limitation, all wrapping, packaging, advertising, shipping
materials and all other goods consumed in Debtor's business, all labels and
other devices, names or marks affixed or to be affixed thereto for purposes of
selling or identifying the same or the seller or manufacturer thereof, and all
of Debtor's right, title and interest therein and thereto; all books, records,
documents, other property and general intangibles at any time relating to the
inventory; all goods, wares and merchandise finished or unfinished, held for
sale or lease or furnished or to be furnished under contracts of sale or
service; all goods returned to or repossessed by Debtor; and all accessions
thereto and products thereof (any and all such inventory, accessions and
products being the "Inventory").
E. All fixtures, furniture, instruments, equipment, vehicles and any and
all other personal property now owned or hereafter acquired by Debtor.
F. All of Debtor's deposit accounts, certificates of deposit, investment
accounts, money market funds, mutual funds, and cash and currency authorized as
legal tender in the United States of America, Canada and/or any other country.
G. All issues, deposits, products, rents, profits and proceeds derived of
and from any and all of the foregoing collateral and, to the extent not
otherwise included, all payments under insurance (whether or not Secured Party
is the loss payee thereof) or any indemnity, warranty or guaranty, chose in
action or judgment payable by reason of loss or damage to or otherwise with
respect to any of the foregoing collateral.
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The Collateral also includes other assets of the same or similar class or
classes hereafter owned or acquired by Debtor, and Secured Party shall have a
security interest in all such after acquired assets and all parts, accessories,
attachments, additions, replacements, accessions, substitutions, increases,
profits, income, distributions, proceeds and products thereof in any form.
All of the above being located at the offices of the Debtor at 0000 Xxxxx
Xxxxx Xxxx, Xxxx Xxxxx, Xxxxxxx 00000 and/or any such other place or places as
the above and foregoing Collateral may be located from time to time.
2. Security for Obligations. This Security Agreement secures the payment
of any and all indebtedness, obligations and liabilities of any kind whatsoever
of Debtor to Secured Party, and also to others to the extent of their
participations granted to or interests therein created or acquired for it by
Secured Party, now or hereafter existing, of every kind and description, whether
matured or unmatured, direct or contingent, including obligations in respect to
future advances, whether or not there shall have been made the initial advance
under the Note and Loan Agreement, and whether for principal, interest, fees,
expenses or otherwise, including, without limitation, all obligations of Debtor
now or hereafter existing: (a) under the Note and the Loan Agreement; (b) under
this Security Agreement; and (c) under existing or future promissory notes of
Debtor (all such obligations of Debtor being hereinafter referred to as the
"Obligations").
3. Debtor to Remain Liable. Anything herein to the contrary
notwithstanding: (a) Debtor shall remain liable under the contracts, leases,
policies and agreements included in the Collateral to the extent set forth
therein, to perform all of its duties and obligations thereunder to the same
extent as if this Security Agreement had not been executed; (b) the exercise by
Secured Party of any of the rights hereunder shall not release Debtor from any
of its duties or obligations under contracts, leases, policies and agreements
included in the Collateral; and (c) Secured Party shall not have any obligation
or liability under the contracts, leases, policies and agreements included in
the Collateral by reason of this Security Agreement, nor shall Secured Party be
obligated to perform any of the obligations or duties of Debtor thereunder, or
to take any action to collect or enforce any claim for payment assigned
hereunder.
4. Debtor's Covenants, Warranties and Representations. Debtor covenants,
warrants and represents the following:
(a) Except for the security interest granted hereby and except as set
forth on Exhibit "B" attached hereto and made a part hereof, Debtor is the sole
owner of the Collateral, which Collateral is free of any liens, security
interests or encumbrances, and Debtor will defend the Collateral against all
claims or demands of any person at any time claiming the same or any interest
therein.
(b) Each account constituting the Receivables is genuine and enforceable
in accordance with its terms against the party obligated to pay the same (each
an "Account Debtor").
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(c) The amount represented by Debtor to Secured Party as owing by each
Account Debtor is the correct amount actually and unconditionally owing by such
Account Debtor, except for normal cash discounts where applicable.
(d) To the best of Debtor's knowledge, no Account Debtor has any defense,
set-off, claim or counterclaim against Debtor which can be asserted against
Secured Party whether in any proceeding to enforce the Receivables or otherwise.
(e) Debtor will notify Secured Party immediately of any default by any
Account Debtor in payment or other performance of its obligations with respect
to any Receivables.
(f) Debtor, without Secured Party's prior written consent, will not make
or agree to make any alteration, modification or cancellation of or substitution
for or credits, adjustments or allowances on any of the Receivables.
(g) Except as set forth on Exhibit "B", none of the Collateral shall be
subject to a security interest other than in favor of Secured Party.
(h) All books and records pertaining to the Collateral and portions of the
Collateral shall be kept at the chief place of business of Debtor, which is
located at 0000 Xxxxx Xxxxx Xxxx, Xxxx Xxxxx, Xxxxxxx 00000. Debtor shall not
remove said books and records and other information related to the Collateral or
any portion of the Collateral located at said location without the prior written
consent of Secured Party. The Collateral will not be wasted, misused or abused
or deteriorated, except to the extent of ordinary wear and tear, and will not be
used in violation of any law, ordinance or regulation of any governmental
authority.
(i) This Security Agreement creates a valid and perfected first priority
security interest in the Collateral, or Debtor's interest in the Collateral,
securing the payment of the Obligations. Debtor has executed and/or shall
execute such financing statements and/or amendments as may be required by
Secured Party to ensure that all filings and other actions necessary or
desirable to perfect such security interest have been duly taken.
(j) Debtor shall keep all personal property, Equipment and Inventory
(other than Inventory solely consumed in the ordinary course of business) at
Debtor's prime business locations or at such other place as Debtor shall have
previously notified Secured Party, or upon thirty (30) days prior written notice
to Secured Party, at such other place or places as shall have been consented to
in writing by Secured Party (in Secured Party's sole discretion) within said
thirty (30) day time period.
(k) Debtor shall cause the Equipment and all other personal property to be
maintained and preserved in the same condition, repair and working order as when
new, ordinary wear and tear excepted, and in accordance with manufacturers'
manuals and shall forthwith, or, in the case of any loss or damage to any of the
personal property or Equipment as quickly as practicable after the occurrence
thereof, make or cause to be made all repairs, replacements or other
improvements in
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connection therewith which are necessary or desirable to such end. Debtor shall
promptly furnish to Secured Party a statement respecting any loss or damage to
any of the Equipment or personal property.
(l) Debtor shall pay promptly, when due, all property and any taxes,
assessment and governmental charges or levies imposed upon and all claims
(including, claims for labor, materials and supplies) against the Equipment,
personal property and Inventory, except to the extent the validity thereof is
being contested in good faith.
(m) No authorization, approval or other action by, and no notice to or
filing with any governmental authority or regulatory body, or any other party is
required: (i) for the grant by Debtor of the security interest granted hereby,
or for the execution, delivery or performance of this Security Agreement by
Debtor; or (ii) for the perfection of or the exercise by Secured Party of its
rights and remedies hereunder, except for the filing of financing statements
and/or amendment statements with the appropriate public authorities.
(n) The Collateral which needs to be insured shall be insured with such
carriers and in such amounts and against such risks as shall be reasonably
satisfactory to Secured Party, with policies payable to Secured Party as
loss-payee. All policies of insurance shall provide for thirty (30) days written
notice of cancellation to Secured Party, and Secured Party shall be furnished
with the original policies or duplicates thereof. The insurance provisions are
further set forth in Paragraph 6 herein.
(o) Debtor will pay when due all taxes and assessments upon the Collateral
or its operation or use.
(p) At its option, and without any obligation to do so, Secured Party may
discharge or pay any taxes, liens, security interests or other encumbrances at
any time levied or placed on or against the Collateral or Debtor, and may pay
for insurance on the Collateral and may pay for the Collateral's maintenance and
preservation. Debtor agrees to reimburse Secured Party on demand for any such
payment made or expense incurred pursuant to the foregoing authorizations, or,
at Secured Party's option, any payment made by Secured Party may be added to the
balance of the Obligations then owing.
(q) The Collateral will not, without the prior written consent of Secured
Party, be sold, transferred, disposed of, or substantially modified, except in
the usual and ordinary course of business.
(r) Debtor will immediately notify Secured Party if its Receivables or
Related Contracts arise out of contracts with the United States Government or
any department, agency or instrumentality thereof, and will execute any
instruments and take any steps required by Secured Party in order that all
monies due and to become due under any such Receivables and Related Contracts
shall be assigned to Secured Party and notice thereof given to the United States
Government under the Federal Assignment of Claims Act.
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(s) Debtor will not remove the Collateral from the State of Florida, nor
change the location of its chief executive office(s), without the prior written
consent of Secured Party.
(t) The Debtor shall comply with all terms and provisions of the
franchises, licenses and all other written agreements which constitute a part of
the Collateral, and, shall fully and timely perform all material obligations to
be complied with by the Debtor in connection with the same, such that all
franchises, licenses and agreements are maintained in good standing and in full
force and effect.
(u) Debtor hereby authorizes Secured Party to file such financing
statements, amendment statements or continuation statements relating to the
Collateral, without Debtor's signature thereon, as Secured Party may deem
appropriate. Debtor shall also execute from time to time, alone or with Secured
Party, any financing statements or other documents, and do such other act or
acts considered by Secured Party to be necessary or desirable to perfect or
protect the security interest hereby created, and shall pay all costs and
expenses (including, without limitation, reasonable fees and expenses of counsel
and filing fees) related to the preparation and filing of any financing
statements, continuation statements, or other documents related to the
perfection or protection of the security interest hereby created.
(v) Debtor shall at all times comply with all terms and provisions of the
Loan Agreement.
5. Further Assurances. Debtor shall from time to time, at Debtor's
expense, promptly execute and deliver all further instruments and documents, and
take all further actions, that may be necessary or that Secured Party may
request in order to perfect and protect any security interest granted or
purported to be granted hereby, or to enable the Secured Party to exercise and
enforce its rights and remedies hereunder with respect to any of the Collateral.
Without limiting the generality of the foregoing, Debtor shall: (a) xxxx
conspicuously each chattel paper included in the Receivables and each Related
Contract and, at the request of Secured Party, each of its records pertaining to
the Collateral with a legend, in form and substance satisfactory to Secured
Party, indicating that such chattel paper, Related Contract or Collateral is
subject to the security interest granted hereby; (b) if any Receivable shall be
evidenced by a promissory note or other instrument or chattel paper, deliver and
pledge to Secured Party such note, instrument or chattel paper duly endorsed and
accompanied by duly executed instruments of transfer or assignment, all in form
and substance satisfactory to Secured Party; (c) hold and preserve the books and
records pertaining to the Collateral as set forth in Paragraph 4(h) above,
preserve any chattel papers related to the Receivables, and permit
representatives of Secured Party at any time during normal business hours to
inspect and make abstracts from such books, records and chattel papers; and (d)
furnish to Secured Party from time to time statements and schedules further
identifying and describing the Collateral and such other reports in connection
with the Collateral as Secured Party may reasonably request, all in reasonable
detail. All costs and expenses associated with any of the above set forth
actions (including, without limitation, reasonable fees and expenses of counsel
and filing fees) shall be the sole responsibility of Debtor.
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6. Insurance. Debtor shall maintain liability insurance, worker's
compensation insurance, business interruption insurance and hazard insurance
(with fire, extended coverage, vandalism and mischief protection) in accordance
with the following provisions:
(a) Debtor shall, at its own expense, maintain insurance with respect to
the Equipment and Inventory and all other personal property in such amounts,
against such risks, in such form and with such insurers, as shall be
satisfactory to Secured Party. Debtor shall additionally, at its own expense,
maintain business interruption insurance in such amounts as shall be required by
Secured Party. Each policy for liability insurance shall provide for all losses
to be paid on behalf of Secured Party and Debtor as its interests may appear.
Each policy for property damage insurance and business interruption insurance
shall provide for all losses to be paid directly to Secured Party upon the
request of Secured Party. Each such policy shall in addition (i) name Secured
Party as an insured and as loss payee thereunder (without any representation or
warranty by or obligation upon Secured Party), (ii) contain an agreement by the
insurer that any loss thereunder shall be payable to Secured Party
notwithstanding any action, inaction or breach of representation or warranty by
Debtor, (iii) provide that there shall be no recourse against Secured Party for
payment of premiums or other amounts with respect thereto, (iv) provide that at
least thirty (30) days prior written notice of cancellation or of lapse shall be
given to Secured Party by the insurer, and (v) provide that upon notification
from Secured Party, all payments pursuant to such policies shall be paid
directly to Secured Party. Debtor shall deliver to Secured Party original or
duplicate policies of such insurance as often as Secured Party may reasonably
request.
(b) Reimbursement under any liability insurance maintained by Debtor
pursuant to this Section 6 may be paid directly to the person who shall have
incurred liability covered by such insurance. In case of any loss involving
damage to Equipment, Inventory or any other personal property when subsection
(c) of this Section 6 is not applicable, Debtor shall make or cause to be made
the necessary repairs to or replacements of such Equipment, Inventory or other
personal property, and any proceeds of insurance maintained by Debtor pursuant
to this Section 6 shall be paid to Debtor as reimbursement for the costs of such
repairs or replacements, unless otherwise paid directly to Secured Party upon
the request of Secured Party.
(c) Upon the occurrence and during the continuance of any Event of
Default, all insurance payments in respect of such Equipment, Inventory,
business interruption, or personal property shall be paid to and applied by
Secured Party in accordance with the terms and provisions of Subsection 12(h)
and Section 14 hereof.
With regard to the insurance set forth above, policies or certificates of
insurance coverage in favor of Debtor shall be delivered to Secured Party, with
coverage types and amounts satisfactory to Secured Party, and satisfactory
evidence of premium payments must also be provided. All policies of insurance
required hereunder shall (a) be written by carriers which are licensed or
authorized to transact business in the State of Florida and are rated "A" or
better according to the latest published Best Key Rating Guide.
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7. Secured Party Appointed Attorney-In-Fact. Debtor hereby irrevocably
appoints Secured Party as Debtor's attorney-in-fact, which appointment is
coupled with an interest, with full authority in the place and stead of Debtor
and in the name of Debtor, Secured Party or otherwise, from time to time in
Secured Party's discretion, to take any action and to execute any instrument
which Secured Party may deem necessary or advisable to accomplish the purposes
of this Security Agreement (subject to the rights of Debtors under Section 10),
including, without limitation:
(a) To obtain and adjust insurance required to be paid to Secured Party
pursuant to Section 6;
(b) To ask, demand, collect, xxx for, recover, compound, receive and give
acquittance and receipt for moneys due and to become due under or in respect of
any of the Collateral;
(c) To receive, endorse, and collect any drafts or other instruments,
documents and chattel paper, in connection with Subsections 7(a) or 7(b) above;
and
(d) To file any claims to take any action or institute any proceedings
which Secured Party may deem necessary or desirable for the collection of any of
the Collateral or otherwise to enforce the rights of Secured Party with respect
to any of the Collateral.
8. Secured Party May Perform. If Debtor fails to perform any agreement
contained herein, Secured Party may itself perform, or cause performance of,
such agreement, and the expenses of Secured Party incurred in connection
therewith shall be payable by Debtor under Subsection 12(h) and Section 14
hereof.
9. Secured Party's Duties. The powers conferred on Secured Party hereunder
are solely to protect its interest in the Collateral and shall not impose any
duty upon Secured Party to exercise any such powers. Except for the safe custody
of any Collateral in its possession and the accounting for moneys actually
received by it hereunder, Secured Party shall have no duty as to any Collateral
or as to the taking of any necessary steps to preserve rights against prior
parties or any other rights pertaining to any Collateral.
10. Rights of Debtor Prior to Default. Until the occurrence of an Event of
Default, Debtor may use the Collateral in any lawful manner not inconsistent
with this Security Agreement and with the terms of insurance thereon.
11. Events of Default. Debtor shall be in default under this Security
Agreement upon the happening of any of the following events, each of such events
being an "Event of Default":
(a) If Debtor (i) defaults in the due performance or observance of any
obligation of Debtor under either Note, or (ii) defaults in the due performance
or observance of any obligation of Debtor under this Security Agreement and
fails to cure such latter default within fifteen (15) days after notice of the
occurrence of the default;
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(b) If any representation, warranty or guaranty made by Debtor herein or
in any other statement heretofore or hereafter furnished by Debtor to Secured
Party proves to be false or misleading in any material respect;
(c) The occurrence of any Event of Default under the Loan Agreement,
subject to any applicable notice and/or cure periods set forth therein, if any;
(d) If Debtor shall fail to comply with any other agreement, covenant,
condition, provision or term contained in any of the Loan Documents (as defined
in the Loan Agreement), subject to any applicable notice and/or cure periods set
forth therein, if any;
(e) Failure to pay any other obligation, liability or claim hereby
secured;
(f) If any obligation or liability of Debtor (other than any obligation
secured hereby) for the payment of money becomes or is declared to be due and
payable prior to the expressed maturity thereof;
(g) Loss, theft, substantial change or destruction to the Collateral which
is not adequately insured against;
(h) If Debtor subjects any Collateral to a security interest in favor of
any party other than Secured Party, excepting as set forth on Exhibit "B";
(i) The assignment for the benefit of creditors by Debtor or any principal
thereof ("Principal"), or any guarantor of the Obligations ("Guarantor") or the
admission, in writing, of any inability to pay any debts, generally, as they
become due, or ordering the winding up or liquidation of its affairs by Debtor
or any Principal or any Guarantor, or the commencement of a case by or against
Debtor or any Principal or any Guarantor under any insolvency, bankruptcy,
creditor adjustment, debtor rehabilitation or similar law, state or federal and,
which in the case of an involuntary proceeding, has not been dismissed within
forty-five (45) days of filing;
(j) The determination by Debtor or any Principal, or any Guarantor to
request relief under any insolvency, bankruptcy, creditor adjustment, debtor
rehabilitation or similar proceeding, state or federal, including, without
limitation, the consent by Debtor or any Principal, or any Guarantor to the
appointment of or taking possession by a receiver, liquidator, assignee,
trustee, custodian, sequestrator, or similar official for Debtor or any
Principal, or any Guarantor or for Debtor's or any Principal's, or any
Guarantor's property or assets;
(k) There shall have occurred any substantial adverse change in the
financial condition of Debtor or any Guarantor;
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(l) If Debtor loses any rights under any franchise agreements, license
agreements or other material agreements, which adversely affects the business
operations of Debtor; or
(m) There shall be entered against Debtor or any Guarantor one (1) or more
judgments or decrees.
Then, upon the happening of any of the foregoing Events of Default, or
whenever Secured Party deems itself insecure for any reason whatsoever, the
promissory note or notes and all other obligations, liabilities and claims
secured hereby shall become immediately due and payable. Debtor expressly waives
any presentment, demand, protest or other notice of any kind.
12. Secured Party's Remedies and Additional Rights After Default. Upon the
occurrence of an Event of Default, Secured Party shall have the rights and
remedies of a secured party under the Florida Uniform Commercial Code, the laws
of the State of New York, and any other applicable law. Without limiting the
generality of the foregoing, Secured Party may exercise any of the following
rights and remedies:
(a) Secured Party may peaceably, or by its own means or with judicial
assistance by injunction or otherwise, enter Debtor's premises and take
possession of the Collateral, or render it unusable, or dispose of the
Collateral on Debtor's premises, and Debtor will not resist or interfere with
such action;
(b) Secured Party may with judicial assistance by injunction, or
otherwise, require Debtor, at Debtor's expense, to assemble all or any part of
the Collateral and make it available to Secured Party at any place designated by
Secured Party. Debtor hereby agrees that Debtor's chief place of business or any
place designated by Secured Party within Palm Beach County, Florida, or Broward
County, Florida, are places reasonably convenient to Debtor to assemble such
Collateral;
(c) Debtor hereby agrees that a notice to Debtor, at least five (5) days
before the time of any intended sale or of the time after which any public or
private sale or other disposition of the Collateral is to be made, shall be
deemed to be reasonable notice of such sale or other disposition;
(d) In the event of sale or other disposition of any such Collateral,
Secured Party may apply the proceeds of any such sale or disposition to the
satisfaction of its reasonable attorneys' fees, legal expenses, and other costs
and expenses incurred in connection with its taking, retaking, holding,
preparing for sale and selling of the Collateral;
(e) Without precluding any other methods of sale, the sale of Collateral
shall have been made in a commercially reasonable manner if conducted in
conformity with reasonable commercial practices but, in any event, Secured Party
may sell on such terms as it may choose, without assuming any credit risk and
without any obligation to advertise;
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(f) The Collateral need not be present at any public or private sale or in
view of the purchaser or purchasers, and title shall pass upon such sale
wherever the property or any part thereof is located with like effect as though
all the property were present and in the possession of the person conducting the
sale and were physically delivered to the purchaser or purchasers; Secured Party
may bid for and purchase at any public or private sale the Collateral offered
for sale or any part thereof, and by such purchase shall become the owner
thereof
(g) Any sale or other disposition of the Collateral, or any portion
thereof, or of any other property of Debtor held by Secured Party, or any
portion thereof, made under or by virtue of this Security Agreement shall
operate to divest all of the estate, right, title, interest, claim and demand
whatsoever at law or in equity of Debtor (including, without limitation, any and
all rights of redemption) and all persons claiming by, through or under Debtor
in and to the properties and rights so sold, whether sold to Secured Party or to
others. The receipt of Secured Party or its designated agent shall be a
sufficient discharge to the purchaser or purchasers at any such sale or other
disposition for its or their purchase money, and such purchaser or purchasers
and their respective successors, assigns and personal representatives shall not,
after paying such purchase money and receiving such receipt of Secured Party or
of such agent of Secured Party, be obligated to see to the application of such
purchase money or be in any way answerable for any loss, misapplication or
non-application thereof;
(h) Secured Party may deduct from the gross proceeds of any public or
private sale the expenses incurred by Secured Party in connection therewith,
including any expenses set forth in Section 14 hereof, reasonable attorneys'
fees and brokers' commissions, if any, and the net proceeds then remaining shall
be applied first to the satisfaction of the amount owed to Secured Party by
Debtor, including payment of all of the Obligations, and any amount then
remaining shall be returned to Debtor;
(i) Secured Party may (i) notify the Account Debtors under any and all of
Debtor's accounts, including, without limitation, the Receivables and Related
Contracts, of Secured Party's interest therein, and direct such Account Debtors
to make payments due and to become due thereunder directly and solely to Secured
Party, and (ii) accept and take control of all payments and proceeds received
from the Account Debtors, and, at the expense of Debtor, enforce collection of
any such Receivables and Related Contracts and adjust, settle or compromise the
amount for payment thereof in the same manner and to the same extent as Debtor
might have done. Additionally, all amounts and proceeds (including instruments)
received by Debtor in respect of the Receivables and Related Contracts shall be
received in trust for the benefit of Secured Party, shall be segregated from
other funds of Debtor and shall be forthwith paid over to Secured Party in the
same form as so received (with any necessary endorsement) to be held as cash
collateral and either (i) released to Debtor so long as no Event of Default
shall be continuing or if Secured Party no longer deems itself insecure, or (ii)
if any Event of Default shall have occurred and be continuing, or if Secured
Party deems itself insecure, applied against Secured Party's reasonable
attorneys' fees and expenses and all other expenses of Secured Party incurred in
connection with this Security Agreement, and then applied as provided in
Subsection 12(h), and, Debtor shall not adjust, settle or compromise the
-12-
amount or payment of any Receivable or Related Contract, or release wholly or
partly any Account Debtor or obligor thereof, or allow any credit or discount
thereon. The above shall not be deemed to constitute a foreclosure by Secured
Party or an election by Secured Party of any remedy limiting the right of
Secured Party to recover the unpaid balance of the Obligations, such that
Secured Party shall be entitled to all other remedies set forth herein;
(j) The Secured Party may, in addition to any other rights it may have,
appoint by instrument in writing a receiver or receiver and manager (both of
which are herein called a "Receiver") of all or any part of the Collateral or
may institute proceedings in any court of competent jurisdiction for the
appointment of such a Receiver. Any such Receiver is hereby given and shall have
the same powers and rights and exclusions and limitations of liability as the
Secured Party has under this Security Agreement, at law or inequity. In
exercising any such powers, any such Receiver shall, to the extent permitted by
law, act as and for all purposes shall be deemed to be the agent of the Debtor,
and the Secured Party shall not be responsible for any act or default of any
such Receiver. The Secured Party may appoint one or more Receivers hereunder and
may remove any such Receiver or Receivers and appoint another or others in his
or their stead from time to time. Any Receiver so appointed may be an officer or
employee of the Secured Party. A court need not appoint, ratify the appointment
by the Secured Party of or otherwise supervise in any manner the actions of any
Receiver. Upon the Debtor receiving notice from the Secured Party of the taking
of possession of the Collateral or the appointment of a Receiver, all powers,
functions, rights and privileges of each of the directors and officers of the
Debtor with respect to the Collateral shall cease, unless specifically continued
by the written consent of the Secured Party;
(k) The Secured Party may carry on, or concur in the carrying on of, all
or any part of the business or undertaking of the Debtor, may, to the exclusion
of all others, including the Debtor, enter upon, occupy and use all or any of
the premises, buildings, plant and undertaking of or occupied or used by the
Debtor and may use all or any of the tools, machinery, equipment and intangibles
of the Debtor for such time as the Secured Party sees fit, free of charge, to
carry on the business of the Debtor and, if applicable, to manufacture or
complete the manufacture of any Inventory and to pack and ship the finished
product;
(l) Secured Party may proceed directly against Debtor, and any Guarantor
and obtain judgments against the same; and
(m) No right, power, or remedy of Secured Party as provided in this
Security Agreement, the Loan Agreement or in any other loan document associated
herewith, is intended to be exclusive of any other right, power, or remedy of
Secured Party, but each and every such right, power and remedy shall be
cumulative and concurrent and in addition to any other right, power or remedy
available to Secured Party now or hereafter existing at law or in equity. The
failure of Secured Party to exercise any such right, power or remedy shall in no
event be construed as a waiver or release thereof
-13-
13. Right of Set-off. In addition to and not in limitation of all rights
of offset that Secured Party may have under applicable law, Secured Party shall,
upon the occurrence of an Event of Default and whether or not Secured Party has
made any demand, or the Obligations are matured, and without notice to Debtor
(any such notice being expressly waived by Debtor), have the right to set off
and apply to the payment of the Obligations all deposits of Debtor (general or
special, time or demand, provisional or final) at any time held by Secured Party
and other indebtedness or property at any time owing by Secured Party to or for
the credit or the account of Debtor against any and all of the Obligations of
Debtor to Secured Party.
14. Indemnity and Expenses. Debtor shall indemnify and hold harmless
Secured Party as follows:
(a) Debtor agrees to and shall indemnify Secured Party from and against
any and all claims, losses and liabilities growing out of or resulting from this
Security Agreement (including, without limitation, enforcement of this Security
Agreement), except claims, losses or liabilities resulting solely from Secured
Party's gross negligence or willful misconduct; and
(b) Debtor will, upon demand, pay to Secured Party the amount of any and
all reasonable expenses, including the reasonable fees and disbursements of
Secured Party's counsel and of any experts and agents, which Secured Party may
incur in connection with (i) the administration of this Security Agreement, (ii)
the custody, preservation, use or operation of, or the sale of, collection from,
or other realization upon, any of the Collateral, (iii) the exercise or
enforcement of any of the rights of Secured Party hereunder or (iv) the failure
by Debtors to perform or observe any of the provisions hereof.
15. Non-Judicial Process. Secured Party may enforce its rights hereunder
without resort to prior judicial process or judicial hearing, and Debtor hereby
waives (i) any right Debtor may have to notice and a hearing before possession
or sale of Collateral is effected by Secured Party by self-help, replevin,
attachment or otherwise, (ii) any requirement that Secured Party post a bond or
other security which might be required by any court prior to allowing Secured
Party to exercise any of Secured Party's remedies, and (iii) the benefit of all
appraisement, extension and exemption laws, such waivers being consistent with
commercial necessity. Nothing herein is intended to prevent Secured Party from
resorting to judicial process at its option.
16. Injunctive Relief Debtor recognizes that, in the event Debtor fails to
perform, observe or discharge any of its obligations or liabilities under this
Security Agreement, any remedy at law may prove to be inadequate relief to
Secured Party. Secured Party, if Secured Party so requests, shall be entitled to
temporary and permanent injunctive relief in any such case without the necessity
of proving actual damages.
17. VENUE OF ACTIONS. IT IS EXPRESSLY UNDERSTOOD AND AGREED THAT NO
SUIT OR ACTION SHALL BE COMMENCED BY THE DEBTOR, OR BY ANY SUCCESSOR, PERSONAL
REPRESENTATIVE OR ASSIGNEE OF DEBTOR, WITH RESPECT
-14-
TO THE INDEBTEDNESS SECURED HEREBY, WITH RESPECT TO THIS SECURITY AGREEMENT, OR
ANY OF THE OTHER LOAN DOCUMENTS, OTHER THAN IN A STATE COURT OF COMPETENT
JURISDICTION IN AND FOR THE COUNTY OF THE STATE IN THE UNITED STATES IN WHICH
THE PRINCIPAL PLACE OF BUSINESS OF THE SECURED PARTY IS SITUATED, OR IN THE
UNITED STATES DISTRICT COURT FOR THE DISTRICT IN THE UNITED STATES IN WHICH THE
PRINCIPAL PLACE OF BUSINESS OF THE SECURED PARTY IS SITUATED, AND NOT ELSEWHERE.
NOTHING IN THIS PARAGRAPH CONTAINED SHALL PROHIBIT SECURED PARTY FROM
INSTITUTING SUIT IN ANY COURT OF COMPETENT JURISDICTION FOR THE ENFORCEMENT OF
ITS RIGHTS HEREUNDER, IN THE NOTES, IN THE LOAN AGREEMENT, OR IN ANY OTHER LOAN
DOCUMENT.
18. Automatic Stay. Debtor hereby agrees that, in consideration of the
recitals and mutual covenants contained herein, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, in
the event Debtor shall (i) file with any bankruptcy court of competent
jurisdiction or be the subject of any petition under title 11 of the U.S. Code,
as amended, (ii) be the subject of any order for relief issued under such Title
11 of the U.S. Code, as amended, (iii) file or be the subject of any petition
seeking any reorganization, arrangement, composition, readjustment, liquidation,
dissolution, or similar relief under any present or future federal or state act
or law relating to bankruptcy, insolvency, or other relief for debtors, (iv)
have sought or consented to or acquiesced in the appointment of any trustee,
receiver, conservator, or liquidator, or (v) be the subject of any order,
judgment, or decree entered by any court of competent jurisdiction approving a
petition filed against such party for any reorganization, arrangement,
composition, readjustment, liquidation, dissolution, or similar relief under any
present or future federal or state act or law relating to bankruptcy,
insolvency, or relief for debtors, then Secured Party shall thereupon be
entitled to relief from any automatic stay imposed by Section 362 of Title 11 of
the U.S. Code, as amended, or otherwise, on or against the exercise of the
rights and remedies otherwise available to Secured Party as provided in the
Note, the Loan Agreement, this Security Agreement and all associated loan
documents, and as otherwise provided by law. Debtor hereby agrees not to object
to Secured Party immediately seeking relief from the automatic stay, to allow
Secured Party to proceed immediately to exercise the rights and remedies
provided under this Security Agreement, including, without limitation, the right
to take title to the Collateral, to conduct a foreclosure sale of the Collateral
and to issue a Certificate of Title to the Collateral in connection with any
foreclosure sale, and/or to proceed against and realize upon the Collateral for
the Obligations and to otherwise allow Secured Party to take all such actions as
Secured Party may elect in its sole discretion in pursuance of the other rights
and remedies available in the event of a default by Debtor under the loan
documents. Debtor hereby waives any protection afforded under 11 U.S.C., Section
362(a).
19. Addresses for Notices. All notices, demands or requests, and responses
thereto, required or permitted to be given pursuant to this Security Agreement
shall be in writing and shall be delivered by hand delivery, expedited courier,
facsimile or sent by certified mail, postage prepaid, return receipt requested,
and addressed as provided below or at such other place Debtor or Secured Party
may from time to time designate in a notice to the other party. All such notices
and other
-15-
communications shall, when mailed, addressed as aforesaid, be effective three
(3) days after deposit in the mail, when federal expressed, be effective one (1)
day after deposit with Federal Express, and, when sent by facsimile, be
effective immediately. Rejection or other refusal to accept or inability to
deliver because of changed address of which no notice has been given shall
constitute receipt of the notice, demand or request sent. Any such notice if
given to Debtor shall be addressed as follows:
AMITEK CORPORATION
0000 Xxxxx Xxxxx Xxxx
Xxxx Xxxxx, Xxxxxxx 00000
Attn: Xxxxxx X. Xxxxxxxxx, President
if given to Secured Party shall be addressed as follows:
NATIONAL BANK OF CANADA
0000 Xxxx Xxxxxx Xxxxxx
Xxxxx 000
Xxxx Xxxxx, Xxxxxxx 00000
Attn: Xxxx X. Page, Vice President
20. Continuing Security Interest; Transfer of Note. This Security
Agreement shall create a continuing security interest in the Collateral and
shall (i) remain in full force and effect until payment in full of the
Obligations, (ii) be binding upon Debtor, its successors and assigns and (iii)
inure to the benefit of Secured Party and its successors, transferees and
assigns. Without limiting the generality of the foregoing clause (iii), Secured
Party may assign or otherwise transfer the Notes held by it to any other person
or entity, and such other person or entity shall thereupon become vested with
all the benefits in respect thereof granted to Secured Party herein or
otherwise. Upon the payment in full of the Obligations, the security interest
granted hereby shall terminate and all rights to the Collateral shall revert to
Debtor. Upon any such termination, Secured Party will, at Debtor's expense,
execute and deliver to Debtor such documents as Debtor shall reasonably request
to evidence such termination.
21. Amendments, Etc. No amendment or waiver of any provision of this
Security Agreement nor consent to any departure by Debtor herefrom shall in any
event be effective unless the same shall be in writing and signed by Secured
Party, and then such waiver or consent shall be effective only in the specific
instance and for the specific purpose for which given.
22. Waiver. No failure on the part of Secured Party to exercise or delay
in exercising any right or remedy hereunder shall operate as a waiver thereof,
nor shall any singular or partial exercise by Secured Party of any right or
remedy hereunder preclude any other or future exercise thereof, or the exercise
of any other right or remedy.
23. Additional Waivers of Debtor. To the fullest extent that it may
lawfully so agree, Debtor agrees that it will not at any time insist upon,
claim, plead or take any benefit or advantage
-16-
of any appraisement, valuation, stay, extension, moratorium, redemption or
similar law now or hereafter in force in order to prevent, delay or hinder the
enforcement of this Security Agreement or the absolute sale of any part of the
Collateral. Debtor, for itself and all who claim through it, so far as it now or
hereafter lawfully may do so, hereby waives the benefit of all such laws, and
all rights to have the Collateral marshaled upon any foreclosure hereof, and
agrees that any court having jurisdiction to foreclose this Security Agreement
may order the sale of the Collateral as an entirety. Without limiting the
generality of the foregoing, Debtor hereby: (i) authorizes Secured Party in its
sole discretion and without notice to or demand upon Debtor and without
otherwise affecting the obligations of Debtor hereunder from time to time to
take and hold other collateral (in addition to the Collateral) for payment of
any Obligations, or any part thereof, and to exchange, enforce or release such
other collateral or any part thereof and to accept and hold any endorsement or
guarantee of payment of the Obligations, or any part thereof and to release or
substitute any endorser or guarantor or any other person granting security for
or in any other way obligated upon any Obligations or any part thereof; and (ii)
waive and release any and all right to require Secured Party to collect any of
the Obligations from any specific item or items of the Collateral or from any
other party liable as guarantor or in any other manner in respect of any of the
Obligations or from any collateral (other than the Collateral) for any of the
Obligations.
24. Successors and Assigns. All of the terms, conditions, and covenants of
this Security Agreement shall inure to the benefit of and bind the heirs,
personal representatives, successors and assigns of the respective parties
hereto.
25. Severability. If performance of any provision hereof or any
transaction related hereto is limited by law, then the obligation to be
performed shall be reduced accordingly, and if any clause or provision herein
contained operates or would operate to invalidate this Security Agreement in
part, then the invalid part of said clause or provisions only shall be treated
as though not contained herein, and the remainder of this Security Agreement
shall remain operative and in full force and effect.
26. Currency. Unless otherwise provided for herein, all monetary amounts
referred to herein shall refer to lawful currency of the United States of
America.
27. Modification. This Security Agreement may not be changed orally, but
only by an instrument in writing, and signed by the party against whom
enforcement of any waiver, change, modification or discharge is sought.
28. Entire Agreement. This Security Agreement constitutes the entire
agreement between the parties hereto.
29. Amended and Restated Security Agreement. THIS AGREEMENT CONSTITUTES AN
ASSUMPTION OF AND AMENDS AND RESTATES THE ORIGINAL SECURITY AGREEMENT SUCH THAT
THE SECURITY INTERESTS, RIGHTS, DUTIES AND OBLIGATIONS OF THE DEBTOR AND THE
SECURED PARTY CREATED BY THE ORIGINAL SECURITY AGREEMENT ARE NOT EXTINGUISHED
BUT ARE REAFFIRMED
-17-
AND REMAIN IN FULL FORCE AND EFFECT AS MODIFIED BY THIS AMENDED AND RESTATED
SECURITY AGREEMENT.
30. Governing Law. This Agreement shall be governed by and construed in
accordance with the statutes and laws of the State of New York, except as
required by mandatory provisions of laws and except to the extent that the
validity or perfection of the security interest created hereby, or remedies
hereunder, in respect of any particular Collateral are governed by the laws of a
jurisdiction other than the State of New York. If any provision hereof is in
conflict with the provision of the Loan Agreement, the provisions of the Loan
Agreement shall control.
30. WAIVER OF JURY TRIAL. DEBTOR AND SECURED PARTY HEREBY MUTUALLY,
KNOWINGLY, WILLINGLY, INTENTIONALLY AND VOLUNTARILY WAIVE THEIR RIGHT TO TRIAL
BY JURY AND NO PARTY NOR ANY ASSIGNEE, SUCCESSOR, HEIR, OR LEGAL REPRESENTATIVE
OF THE PARTIES (ALL OF WHOM ARE HEREINAFTER COLLECTIVELY REFERRED TO AS THE
"PARTIES") SHALL SEEK A JURY TRIAL IN ANY LAWSUIT, PROCEEDING, COUNTERCLAIM OR
ANY OTHER LITIGATION PROCEEDING BASED UPON OR ARISING OUT OF THIS SECURITY
AGREEMENT OR ANY ASSOCIATED LOAN DOCUMENTS OR ANY INSTRUMENT EVIDENCING,
SECURING OR RELATING TO THE OBLIGATIONS SECURED HEREBY OR ANY RELATED AGREEMENT
OR INSTRUMENT, ANY OTHER COLLATERAL FOR THE OBLIGATIONS SECURED HEREBY OR ANY
COURSE OF ACTION, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR
ACTIONS RELATING TO THE OBLIGATIONS OR TO THIS SECURITY AGREEMENT. THE PARTIES
ALSO WAIVE ANY RIGHT TO CONSOLIDATE ANY ACTION IN WHICH A JURY TRIAL HAS BEEN
WAIVED WITH ANY OTHER ACTION IN WHICH A JURY TRIAL HAS NOT BEEN WAIVED. THE
PROVISIONS OF THIS PARAGRAPH HAVE BEEN FULLY NEGOTIATED BY THE PARTIES. THE
WAIVER CONTAINED HEREIN IS IRREVOCABLE, CONSTITUTES A KNOWING AND VOLUNTARY
WAIVER, AND SHALL BE SUBJECT TO NO EXCEPTIONS. SECURED PARTY HAS IN NO WAY
AGREED WITH OR REPRESENTED TO DEBTOR OR ANY OTHER PARTY THAT THE PROVISIONS OF
THIS PARAGRAPH WILL NOT BE FULLY ENFORCED IN ALL INSTANCES.
IN WITNESS WHEREOF, the parties hereto have executed this Amended and
Restated Security Agreement the day and year first above written.
WITNESSES: DEBTOR:
AMITEK CORPORATION, a Delaware corporation
/s/ Xxxxxx X. Xxxxxxxx By: /s/ Xxx Xxxxxx
------------------------------ --------------------------------
Title: Secretary & Treasurer
------------------------------ -----------------------------
(Corporate Seal)
-18-
SECURED PARTY:
NATIONAL BANK OF CANADA, a Canadian
Chartered Bank
By: /s/ Xxxx Page
------------------------------ --------------------------------
/s/ Xxxxxx X. Xxxxxxxx Title: VP
------------------------------ -----------------------------
-19-
AMITEK DEPRECIATION DETAIL
ELECTRICAL EQUIPMENT
ACCT 1515-0000
AMITEK CORPORATION
DEPRECIATION SCHEDULE BY CATEGORY
-----------------------------------------------------------------------------------------------------------------------------------
ASSET ACCT DATE LIFE COST OR ACC DEPR CURRENT
NO. DESCRIPTION NO. ACQUIRED METHOD YR/MO BASIS 01-01-95 DEPR.
-----------------------------------------------------------------------------------------------------------------------------------
- AVEX (RECLASSIFIED) 0000 00-00-00 ST LINE 05/00 (700.00) (70.01) (140.02)
- HEAT GUN FOR REPAIR 0000 00-00-00 ST LINE 05/00 512.00 51.21 102.41
- UNIVERSAL REPLACEMENT PARTS 0000 00-00-00 ST LINE 05/00 5,660.00 566.06 1,132.13
- UNIVERSAL WEARABLE PARTS 0000 00-00-00 ST LINE 05/00 490.00 49.01 98.01
- UNIVERSAL WEARABLE PARTS 0000 00-00-00 ST LINE 05/00 1,205.20 120.53 241.07
- TOOLSMITH SCREWDRIVER 0000 00-00-00 ST LINE 05/00 1,050.00 105.01 210.02
- XXXXXXXX SCREWFEEDER (2) 0000 00-00-00 ST LINE 05/00 1,049.80 104.99 209.98
- DIGI-KEY WEARABLE PARTS 0000 00-00-00 ST LINE 05/00 72.39 7.24 14.48
ELEC EQUIP - XXXXXXXX WEARABLE PARTS 0000 00-00-00 ST LINE 05/00 118.44 11.84 23.69
ELEC EQUIP - CONTACT SERVICE CALL 0000 00-00-00 ST LINE 05/00 279.00 27.90 55.80
-------------------------------------------------------------------------------------------------------------------------
COPELCO LEASE - SIPLACE 80S 0000 00-00-00 ST LINE 10/00 321,442.32 0.00 6,164.65
-------------------------------------------------------------------------------------------------------------------------
COPELCO LEASE - SIPLACE 80F 0000 00-00-00 ST LINE 10/00 321,538.15 0.00 6,166.48
COPELCO LEASE - SIEMENS COMP PROG SYS 0000 00-00-00 ST LINE 05/00 25,116.94 0.00 481.69
COPELCO LEASE - SIEMENS SIPLACE ACCESS 0000 00-00-00 ST LINE 05/00 21,638.59 0.00 414.99
- SIEMENS / CITICORP / SIPLACE FEEDERS 0000 00-00-00 ST LINE 10/00 179,021.28 0.00 18,123.49
- FIFO BUFFER CONVEYOR 0000 00-00-00 ST LINE 05/00 14,500.00 0.00 1,467.93
- DUAL DRIVE CONVEYOR BELT 0000 00-00-00 ST LINE 05/00 5,500.00 0.00 556.80
- MACDONALD ELECTRIC 0000 00-00-00 ST LINE 05/00 1,991.70 0.00 201.63
- MOTOROLA MASS SOLDERING MACHINE 0000 00-00-00 ST LINE 05/00 1,800.00 0.00 182.23
- DUKANE ULTRASONIC WELDER 0000 00-00-00 ST LINE 05/00 6,119.80 0.00 619.55
- H/P LASER JET PRINTER 0000 00-00-00 ST LINE 05/00 2,118.94 0.00 214.51
- TOSHIBA LAPTOP COMPUTERS (2) 0000 00-00-00 ST LINE 05/00 4,242.62 0.00 429.51
- MACDONALD ELECTRIC 0000 00-00-00 ST LINE 05/00 1,991.71 0.00 201.63
- SALES TAX ON EQUIPMENT 0000 00-00-00 ST LINE 05/00 10,315.06 0.00 1,044.26
- 22 BUTTON SPEAKER PHONES (8) 0000 00-00-00 ST LINE 05/00 2,120.00 0.00 214.62
- 1 / 8 PORT ANALOG CARD 0000 00-00-00 ST LINE 05/00 316.58 0.00 32.05
- REXON EQUIPMENT 0000 00-00-00 ST LINE 05/00 110,000.00 0.00 11,136.01
MBT - 250 System 8007-0206A Xxxx Xxxxxxxx & Assc 0000 00-00-00 ST LINE 05/00 1,272.00 0.00 0.00
-------------------------------------------------------------------------------------------------------------------------
Model 64 Tester 115 Vac - 5211048-Cablescan V3115 0000 00-00-00 ST LINE 05/00 948.50 0.00 0.00
-------------------------------------------------------------------------------------------------------------------------
Performa 630 8/500 CD Monitor Keyboard - Macnet 0000 00-00-00 ST LINE 05/00 1,550.64 0.00 0.00
Power filter FA Series for Siemens - Datamax 0000 00-00-00 ST LINE 05/00 4,165.80 0.00 0.00
Elec Vitronics Oven - E. W. Electric 0000 00-00-00 ST LINE 05/00 1,464.90 0.00 0.00
Computer 0000 00-00-00 ST LINE 05/00 765.10 0.00 0.00
Computer 0000 00-00-00 ST LINE 05/00 742.50 0.00 0.00
Mech Test Flat E/T Tech 0000 00-00-00 ST LINE 05/00 1,294.73 0.00 0.00
000X 0 Xxxxx Xxx D Lead Center - Breakers 0000 00-00-00 ST LINE 05/00 3,500.00 0.00 0.00
Power Supply Board 100S1564 for Screenprinter 0000 00-00-00 ST LINE 05/00 942.83 0.00 0.00
Elec Equipment - from Rescue 0000 00-00-00 ST LINE 05/00 25,000.00 0.00 0.00
COASTAL SECURITY SYSTEM 1515 1/1/97 ST LINE 05/00 2,183.60 0.00 0.00
ACL 10 ELEC SCREWDRIVER (3 @ 590) 1515 01/29/97 ST LINE 05/00 1,876.60 0.00 0.00
-------------------------------------------------------------------------------------------------------------------------
92TPS001 TPS-001 SLODAPROS S/W MULTICORE 1515 01/31/97 ST LINE 05/00 2,686.00 0.00 0.00
ET TECHNOLOGIES CHANNEL TEST FIX 1515 2/18/97 ST LINE 05/00 3,200.00 0.00 0.00
COMPUSA HP LASERJET 5 1515 3/18/97 ST LINE 05/00 1,299.99 0.00 0.00
NATION-1 ELECTRICAL OVEN 1515 3/13/97 ST LINE 05/00 966.75 0.00 0.00
COMPUSA OKI ML32IT 9 PIN 12 OV 1515 3/18/97 ST LINE 05/00 2,492.10 0.00 0.00
XXXXXX CONVEYOR SYSTEM U STYLE 1515 3/25/97 ST LINE 05/00 508.75 0.00 0.00
SOUND ADVISE YAMAHA 70W STEREO 1515 4/3/97 ST LINE 05/00 3,930.00 0.00 0.00
XXXXXX XX000-000 XXXXX POWER 1515 4/3/97 ST LINE 05/00 2,850.00 0.00 0.00
XXXX ELECTRIC (ELECTRICAL WORK) 1515 4/14/97 ST LINE 05/00 6,402.00 0.00 0.00
CHS BEK ELECTRICAL COMPONENTS NEW COMPUTERS 1515 4/30/97 ST LINE 05/00 3,527.19 0.00 0.00
-----------------------------------------------------------------------------------------------------------------------------------
ASSET ACC DEPR WRITE CURRENT ACC DEPR WRITE CURRENT
NO. DESCRIPTION 12-31-95 OFF DEPR. 12-31-96 OFF DEPR.
-----------------------------------------------------------------------------------------------------------------------------------
- AVEX (RECLASSIFIED) (210.02) (140.00) (350.02) 0.00
- HEAT GUN FOR REPAIR 153.62 102.40 256.02 102.40
- UNIVERSAL REPLACEMENT PARTS 1,698.19 1,132.00 2,830.19 1,132.00
- UNIVERSAL WEARABLE PARTS 147.02 98.00 245.02 98.00
- UNIVERSAL WEARABLE PARTS 361.60 241.04 602.64 241.04
- TOOLSMITH SCREWDRIVER 315.03 210.00 525.03 210.00
- XXXXXXXX SCREWFEEDER (2) 314.97 209.96 524.93 209.96
- DIGI-KEY WEARABLE PARTS 21.72 14.48 36.20 14.48
ELEC EQUIP - XXXXXXXX WEARABLE PARTS 35.53 23.69 59.22 23.69
ELEC EQUIP - CONTACT SERVICE CALL 83.70 55.80 139.50 55.80
-------------------------------------------------------------------------------------------------------------------------
COPELCO LEASE - SIPLACE 80S 6,164.65 32,144.23 38,308.88 32,144.23
-------------------------------------------------------------------------------------------------------------------------
COPELCO LEASE - SIPLACE 80F 6,166.48 32,153.82 38,320.30 32,153.82
COPELCO LEASE - SIEMENS COMP PROG SYS 481.69 5,023.39 5,505.08 5,023.39
COPELCO LEASE - SIEMENS SIPLACE ACCESS 414.99 4,327.72 4,742.71 4,327.72
- SIEMENS / CITICORP / SIPLACE FEEDERS 18,123.49 17,902.13 36,025.62 17,902.13
- FIFO BUFFER CONVEYOR 1,467.93 2,900.00 4,367.93 2,900.00
- DUAL DRIVE CONVEYOR BELT 556.80 1,100.00 1,656.80 1,100.00
- MACDONALD ELECTRIC 201.63 398.34 599.97 398.34
- MOTOROLA MASS SOLDERING MACHINE 182.23 360.00 542.23 360.00
- DUKANE ULTRASONIC WELDER 619.55 1,223.96 1,843.51 1,223.96
- H/P LASER JET PRINTER 214.51 423.79 638.30 423.79
- TOSHIBA LAPTOP COMPUTERS (2) 429.51 848.52 1,278.03 848.52
- MACDONALD ELECTRIC 201.63 398.34 599.97 398.34
- SALES TAX ON EQUIPMENT 1,044.26 2,063.01 3,107.27 2,063.01
- 22 BUTTON SPEAKER PHONES (8) 214.62 424.00 638.62 424.00
- 1 / 8 PORT ANALOG CARD 32.05 63.32 95.37 63.32
- REXON EQUIPMENT 11,136.01 22,000.00 33,136.01 22,000.00
MBT - 250 System 8007-0206A Xxxx Xxxxxxxx & Assc 0.00 127.20 127.20 254.40
-------------------------------------------------------------------------------------------------------------------------
Model 64 Tester 115 Vac - 5211048-Cablescan V3115 0.00 98.45 98.45 189.70
-------------------------------------------------------------------------------------------------------------------------
Performa 630 8/500 CD Monitor Keyboard - Macnet 0.00 155.07 155.07 310.03
Power filter FA Series for Siemens - Datamax 0.00 416.58 416.58 833.16
Elec Vitronics Oven - E. W. Electric 0.00 146.49 146.49 292.98
Computer 0.00 76.51 76.51 153.02
Computer 0.00 74.25 74.25 148.50
Mech Test Flat E/T Tech 0.00 129.47 129.47 258.95
000X 0 Xxxxx Xxx D Lead Center - Breakers 0.00 350.00 350.00 700.00
Power Supply Board 100S1564 for Screenprinter 0.00 94.28 94.28 188.57
Elec Equipment - from Rescue 0.00 2,500.00 2,500.00 5,000.00
COASTAL SECURITY SYSTEM 0.00 0.00 0.00 218.36
ACL 10 ELEC SCREWDRIVER (3 @ 590) 0.00 0.00 0.00 187.66
-------------------------------------------------------------------------------------------------------------------------
92TPS001 TPS-001 SLODAPROS S/W MULTICORE 0.00 0.00 0.00 268.60
ET TECHNOLOGIES CHANNEL TEST FIX 0.00 0.00 0.00 320.00
COMPUSA HP LASERJET 5 0.00 0.00 0.00 130.00
NATION-1 ELECTRICAL OVEN 0.00 0.00 0.00 96.68
COMPUSA OKI ML32IT 9 PIN 12 OV 0.00 0.00 0.00 249.21
XXXXXX CONVEYOR SYSTEM U STYLE 0.00 0.00 0.00 50.88
SOUND ADVISE YAMAHA 70W STEREO 0.00 0.00 0.00 393.00
XXXXXX XX000-000 XXXXX POWER 0.00 0.00 0.00 285.00
XXXX ELECTRIC (ELECTRICAL WORK) 0.00 0.00 0.00 640.20
CHS BEK ELECTRICAL COMPONENTS NEW COMPUTERS 0.00 0.00 0.00 352.72
-----------------------------------------------------------------------------------------------------------------------
ASSET ACC DEPR WRITE CURRENT ACC DEPR BOOK
NO. DESCRIPTION 35795 OFF DEPR. 36160 VALUE
-----------------------------------------------------------------------------------------------------------------------
- AVEX (RECLASSIFIED) 0.00 0.00 0.00 0.00
- HEAT GUN FOR REPAIR 358.42 102.40 460.82 51.18
- UNIVERSAL REPLACEMENT PARTS 3,962.19 1,132.00 5,094.19 565.81
- UNIVERSAL WEARABLE PARTS 343.02 98.00 441.02 48.98
- UNIVERSAL WEARABLE PARTS 843.68 241.04 1,084.72 120.48
- TOOLSMITH SCREWDRIVER 735.03 210.00 945.03 104.97
- XXXXXXXX SCREWFEEDER (2) 734.89 209.96 944.85 104.95
- DIGI-KEY WEARABLE PARTS 50.68 14.48 65.16 7.24
ELEC EQUIP - XXXXXXXX WEARABLE PARTS 82.91 23.69 106.60 11.85
ELEC EQUIP - CONTACT SERVICE CALL 195.30 55.80 251.10 27.90
-------------------------------------------------------------------------------------------------------------
COPELCO LEASE - SIPLACE 80S 70,453.11 32,144.23 102,597.34 218,844.97
-------------------------------------------------------------------------------------------------------------
COPELCO LEASE - SIPLACE 80F 70,474.11 32,153.82 102,627.93 218,910.23
COPELCO LEASE - SIEMENS COMP PROG SYS 10,528.47 5,023.39 15,551.85 9,565.09
COPELCO LEASE - SIEMENS SIPLACE ACCESS 9,070.43 4,327.72 13,398.14 8,240.45
- SIEMENS / CITICORP / SIPLACE FEEDERS 53,927.75 17,902.13 71,829.87 107,191.41
- FIFO BUFFER CONVEYOR 7,267.93 2,900.00 10,167.93 4,332.07
- DUAL DRIVE CONVEYOR BELT 2,756.80 1,100.00 3,856.80 1,643.20
- MACDONALD ELECTRIC 998.31 398.34 1,396.65 595.05
- MOTOROLA MASS SOLDERING MACHINE 902.23 360.00 1,262.23 537.77
- DUKANE ULTRASONIC WELDER 3,067.47 1,223.96 4,291.43 1,828.37
- H/P LASER JET PRINTER 1,062.09 423.79 1,485.87 633.07
- TOSHIBA LAPTOP COMPUTERS (2) 2,126.56 848.52 2,975.08 1,267.54
- MACDONALD ELECTRIC 998.31 398.34 1,396.66 595.05
- SALES TAX ON EQUIPMENT 5,170.28 2,063.01 7,233.30 3,081.76
- 22 BUTTON SPEAKER PHONES (8) 1,062.62 424.00 1,486.62 633.38
- 1 / 8 PORT ANALOG CARD 158.68 63.32 222.00 94.58
- REXON EQUIPMENT 55,136.01 22,000.00 77,136.01 32,863.99
MBT - 250 System 8007-0206A Xxxx Xxxxxxxx & Assc 381.60 254.40 636.00 636.00
-------------------------------------------------------------------------------------------------------------
Model 64 Tester 115 Vac - 5211048-Cablescan V3115 288.15 189.70 477.85 470.65
-------------------------------------------------------------------------------------------------------------
Performa 630 8/500 CD Monitor Keyboard - Macnet 465.20 310.03 775.33 775.31
Power filter FA Series for Siemens - Datamax 1,249.74 833.16 2,082.90 2,082.90
Elec Vitronics Oven - E. W. Electric 439.47 292.98 732.45 732.45
Computer 229.53 153.02 382.55 382.55
Computer 222.75 148.50 371.25 371.25
Mech Test Flat E/T Tech 388.42 258.95 647.36 647.37
000X 0 Xxxxx Xxx D Lead Center - Breakers 1,050.00 700.00 1,750.00 1,750.00
Power Supply Board 100S1564 for Screenprinter 282.85 188.57 471.41 471.42
Elec Equipment - from Rescue 7,500.00 5,000.00 12,500.00 12,500.00
COASTAL SECURITY SYSTEM 218.36 436.72 655.08 1,528.52
ACL 10 ELEC SCREWDRIVER (3 @ 590) 187.66 375.32 562.98 1,313.62
-------------------------------------------------------------------------------------------------------------
92TPS001 TPS-001 SLODAPROS S/W MULTICORE 268.60 537.20 805.80 1,880.20
ET TECHNOLOGIES CHANNEL TEST FIX 320.00 640.00 960.00 2,240.00
COMPUSA HP LASERJET 5 130.00 260.00 390.00 909.99
NATION-1 ELECTRICAL OVEN 96.68 193.35 290.03 676.73
COMPUSA OKI ML32IT 9 PIN 12 OV 249.21 496.42 747.63 1,744.47
XXXXXX CONVEYOR SYSTEM U STYLE 50.88 101.75 152.63 356.13
SOUND ADVISE YAMAHA 70W STEREO 393.00 786.00 1,179.00 2,751.00
XXXXXX XX000-000 XXXXX POWER 285.00 570.00 855.00 1,995.00
XXXX ELECTRIC (ELECTRICAL WORK) 640.20 1,280.40 1,920.60 4,481.40
CHS BEK ELECTRICAL COMPONENTS NEW COMPUTERS 352.72 705.44 1,058.16 2,469.03
ACCUMULATED DEPRECIATION ACCT = 1545-0000
AMITEK DEPRECIATION DETAIL
ELECTRICAL EQUIPMENT
ACCT 1515-0000
AMITEK CORPORATION
DEPRECIATION SCHEDULE BY CATEGORY
-----------------------------------------------------------------------------------------------------------------------------------
ASSET ACCT DATE LIFE COST OR ACC DEPR CURRENT
NO. DESCRIPTION NO. ACQUIRED METHOD YR/MO BASIS 01-01-95 DEPR.
-----------------------------------------------------------------------------------------------------------------------------------
XXX XXXX (COMP. COMPONENTS) 1515 5/1/97 ST LINE 05/00 3,000.00 0.00 0.00
CHS BEK COMPUTER COMPONENTS 1515 5/16/97 ST LINE 05/00 7,316.50 0.00 0.00
CHS BEK COMPUTER COMPONENTS 1515 5/22/97 ST LINE 05/00 5,670.00 0.00 0.00
SIEMENS EQUIPMENT 1515 5/31/97 ST LINE 10/00 585,893.72 0.00 0.00
CHIP TECH COMPUTER COMPONENTS 1515 6/1/97 ST LINE 05/00 1,915.00 0.00 0.00
ZYXEL ISDN ROUTER 1515 6/11/97 ST LINE 05/00 514.00 0.00 0.00
CHS BEK COMPUTER COMPONENTS 1515 6/19/97 ST LINE 05/00 1,612.00 0.00 0.00
CHS BEK COMPUTER COMPONENTS 1515 6/24/97 ST LINE 05/00 1,006.00 0.00 0.00
CHS BEK COMPUTER COMPONENTS 1515 7/2/97 ST LINE 05/00 1,866.00 0.00 0.00
CHS BEK COMPUTER COMPONENTS 1515 7/30/97 ST LINE 05/00 864.00 0.00 0.00
XXXXXX INC GRAVITY CONVEYOR 1515 7/1/97 ST LINE 05/00 758.11 0.00 0.00
XXXXXX INC 1515 7/2/97 ST LINE 05/00 674.11 0.00 0.00
PACE MACHINERY & TOOL 1515 8/8/97 ST LINE 05/00 8,632.64 0.00 0.00
COMPAQ COMPUTER AMEX ELECTRONIC EQUIP 1515 8/11/97 ST LINE 05/00 3,587.57 0.00 0.00
CHS BEK COMPUTER COMPONENTS 1515 8/14/97 ST LINE 05/00 1,019.00 0.00 0.00
SIEMENS ENERGY SCANNING UNIT 1515 8/18/97 ST LINE 05/00 4,040.72 0.00 0.00
SIEMENS ENERGY TRIPLE AXIS PC BOARD 1515 8/18/97 ST LINE 05/00 3,931.54 0.00 0.00
SIEMENS ENERGY TRIPLE AXIS PC BOARD 1515 8/19/97 ST LINE 05/00 3,931.54 0.00 0.00
CHIPTECH COMPUTER COMPONENTS 1515 8/26/97 ST LINE 05/00 1,538.00 0.00 0.00
CHS BEK COMPUTER COMPONENTS 1515 8/27/97 ST LINE 05/00 1,573.00 0.00 0.00
TECH DATA COMPUTER COMPONENTS 1515 9/1/97 ST LINE 05/00 430.00 0.00 0.00
TECH DATA COMPUTER COMPONENTS 1515 9/4/97 ST LINE 05/00 735.00 0.00 0.00
ELECTROVERT (DIFFERENCE TO BE REVERSED LATER) 1515 9/18/97 ST LINE 05/00 2,500.00 0.00 0.00
SIEMENS FEEDER 1515 9/24/97 ST LINE 05/00 11,040.96 0.00 0.00
CHIPTECH COMPUTER COMPONENTS 1515 9/24/97 ST LINE 05/00 3,264.00 0.00 0.00
ADVANCE CAM TECH 1515 9/24/97 ST LINE 05/00 2,185.00 0.00 0.00
XXXX ELECTRICAL 1515 9/23/97 ST LINE 05/00 2,490.00 0.00 0.00
ADVANCE CAM TECH 1515 10/2/97 ST LINE 05/00 250.00 0.00 0.00
COMP SERVICE S. FLA 1515 10/10/97 ST LINE 05/00 9,741.42 0.00 0.00
DUKANE ULTRASONIC 1515 10/10/97 ST LINE 05/00 5,565.00 0.00 0.00
DIVERSIFIED POWER SOLUTIONS 1515 10/31/97 ST LINE 05/00 2,458.00 0.00 0.00
HEWLETT PACKARD 1515 10/31/97 ST LINE 05/00 4,499.80 0.00 0.00
SIEMENS EQUIP 1515 10/31/97 ST LINE 10/00 468,566.64 0.00 0.00
ELECTROVERT 1515 10/31/97 ST LINE 10/00 63,335.00 0.00 0.00
MPM EQUIP 1515 10/31/97 ST LINE 10/00 138,601.54 0.00 0.00
RADIAL MACHINE FROM DRI 1515 10/31/97 ST LINE 10/00 114,000.00 0.00 0.00
ELECTROVERT USA 1515 11/6/97 ST LINE 05/00 2,134.35 0.00 0.00
DIVERSIFIED POWER SOLUTIONS 1515 11/11/97 ST LINE 05/00 2,458.00 0.00 0.00
PACE MACHINERY & TOOL 1515 11/11/97 ST LINE 05/00 2,607.60 0.00 0.00
CROWN SIMPLIMATIC 1515 11/12/97 ST LINE 05/00 11,304.90 0.00 0.00
CABLESCAN 1515 11/17/97 ST LINE 05/00 948.70 0.00 0.00
DUKANE ULTRASONIC 1515 11/17/97 ST LINE 05/00 7,500.00 0.00 0.00
ARCO DISTRIB 1515 11/26/97 ST LINE 05/00 675.00 0.00 0.00
CENTRAL AUDIO VISUAL 1515 11/22/97 ST LINE 05/00 5,830.00 0.00 0.00
RELOCATE NORTH LINE 1515 11/30/97 ST LINE 05/00 3,160.00 0.00 0.00
XXXX ELECTRIC 1515 12/29/97 ST LINE 05/00 5,115.00 0.00 0.00
MECH PLUS SERVICES 1515 12/29/97 ST LINE 05/00 3,500.00 0.00 0.00
CROWN SIMPLIMATIC 1515 1/2/98 ST LINE 05/00 33,673.02
NATIONAL TIME SYSTEM (TIME CLOCK SYSTEM) 1515 1/28/98 ST LINE 05/00 8,259.20
CHIPTECH COMPUTER COMPONENTS 1515 1/20/98 ST LINE 05/00 8,674.42
-----------------------------------------------------------------------------------------------------------------------------------
ASSET ACC DEPR WRITE CURRENT ACC DEPR WRITE CURRENT
NO. DESCRIPTION 12-31-95 OFF DEPR. 12-31-96 OFF DEPR.
-----------------------------------------------------------------------------------------------------------------------------------
XXX XXXX (COMP. COMPONENTS) 0.00 0.00 0.00 300.00
CHS BEK COMPUTER COMPONENTS 0.00 0.00 0.00 731.65
CHS BEK COMPUTER COMPONENTS 0.00 0.00 0.00 567.00
SIEMENS EQUIPMENT 0.00 0.00 0.00 28,294.69
CHIP TECH COMPUTER COMPONENTS 0.00 0.00 0.00 191.50
ZYXEL ISDN ROUTER 0.00 0.00 0.00 51.40
CHS BEK COMPUTER COMPONENTS 0.00 0.00 0.00 161.20
CHS BEK COMPUTER COMPONENTS 0.00 0.00 0.00 100.80
CHS BEK COMPUTER COMPONENTS 0.00 0.00 0.00 186.60
CHS BEK COMPUTER COMPONENTS 0.00 0.00 0.00 86.40
XXXXXX INC GRAVITY CONVEYOR 0.00 0.00 0.00 75.81
XXXXXX INC 0.00 0.00 0.00 67.41
PACE MACHINERY & TOOL 0.00 0.00 0.00 863.26
COMPAQ COMPUTER AMEX ELECTRONIC EQUIP 0.00 0.00 0.00 358.76
CHS BEK COMPUTER COMPONENTS 0.00 0.00 0.00 101.90
SIEMENS ENERGY SCANNING UNIT 0.00 0.00 0.00 404.07
SIEMENS ENERGY TRIPLE AXIS PC BOARD 0.00 0.00 0.00 393.15
SIEMENS ENERGY TRIPLE AXIS PC BOARD 0.00 0.00 0.00 393.15
CHIPTECH COMPUTER COMPONENTS 0.00 0.00 0.00 153.80
CHS BEK COMPUTER COMPONENTS 0.00 0.00 0.00 157.30
TECH DATA COMPUTER COMPONENTS 0.00 0.00 0.00 43.00
TECH DATA COMPUTER COMPONENTS 0.00 0.00 0.00 73.50
ELECTROVERT (DIFFERENCE TO BE REVERSED LATER) 0.00 0.00 0.00 250.00
SIEMENS FEEDER 0.00 0.00 0.00 1,104.10
CHIPTECH COMPUTER COMPONENTS 0.00 0.00 0.00 326.40
ADVANCE CAM TECH 0.00 0.00 0.00 218.50
XXXX ELECTRICAL 0.00 0.00 0.00 249.00
ADVANCE CAM TECH 0.00 0.00 0.00 25.00
COMP SERVICE S. FLA 0.00 0.00 0.00 974.14
DUKANE ULTRASONIC 0.00 0.00 0.00 556.50
DIVERSIFIED POWER SOLUTIONS 0.00 0.00 0.00 245.80
HEWLETT PACKARD 0.00 0.00 0.00 449.96
SIEMENS EQUIP 0.00 0.00 0.00 23,428.33
ELECTROVERT 0.00 0.00 0.00 3,166.75
MPM EQUIP 0.00 0.00 0.00 6,930.06
RADIAL MACHINE FROM DRI 0.00 0.00 0.00 5,700.00
ELECTROVERT USA 0.00 0.00 0.00 213.44
DIVERSIFIED POWER SOLUTIONS 0.00 0.00 0.00 245.80
PACE MACHINERY & TOOL 0.00 0.00 0.00 260.76
CROWN SIMPLIMATIC 0.00 0.00 0.00 1,130.49
CABLESCAN 0.00 0.00 0.00 94.87
DUKANE ULTRASONIC 0.00 0.00 0.00 750.00
ARCO DISTRIB 0.00 0.00 0.00 67.50
CENTRAL AUDIO VISUAL 0.00 0.00 0.00 583.00
RELOCATE NORTH LINE 0.00 0.00 0.00 316.00
XXXX ELECTRIC 0.00 0.00 0.00 511.50
MECH PLUS SERVICES 0.00 0.00 0.00 350.00
CROWN SIMPLIMATIC
NATIONAL TIME SYSTEM (TIME CLOCK SYSTEM)
CHIPTECH COMPUTER COMPONENTS
-----------------------------------------------------------------------------------------------------------------------
ASSET ACC DEPR WRITE CURRENT ACC DEPR BOOK
NO. DESCRIPTION 35795 OFF DEPR. 36160 VALUE
-----------------------------------------------------------------------------------------------------------------------
XXX XXXX (COMP. COMPONENTS) 300.00 600.00 900.00 2,100.00
CHS BEK COMPUTER COMPONENTS 731.65 1,463.30 2,194.95 5,121.55
CHS BEK COMPUTER COMPONENTS 567.00 1,134.00 1,701.00 3,969.00
SIEMENS EQUIPMENT 28,294.69 56,589.67 84,884.06 501,009.66
CHIP TECH COMPUTER COMPONENTS 191.50 383.00 574.50 1,340.50
ZYXEL ISDN ROUTER 51.40 102.80 154.20 359.80
CHS BEK COMPUTER COMPONENTS 161.20 322.40 483.60 1,128.40
CHS BEK COMPUTER COMPONENTS 100.80 201.60 302.40 705.60
CHS BEK COMPUTER COMPONENTS 186.60 373.20 559.80 1,306.20
CHS BEK COMPUTER COMPONENTS 86.40 172.80 259.20 604.80
XXXXXX INC GRAVITY CONVEYOR 75.81 151.62 227.43 530.68
XXXXXX INC 67.41 134.82 202.23 471.88
PACE MACHINERY & TOOL 863.26 1,726.53 2,589.79 6,042.85
COMPAQ COMPUTER AMEX ELECTRONIC EQUIP 358.76 717.51 1,076.27 2,511.30
CHS BEK COMPUTER COMPONENTS 101.90 203.80 305.70 713.30
SIEMENS ENERGY SCANNING UNIT 404.07 808.14 1,212.22 2,828.50
SIEMENS ENERGY TRIPLE AXIS PC BOARD 393.15 786.31 1,179.46 2,752.08
SIEMENS ENERGY TRIPLE AXIS PC BOARD 393.15 786.31 1,179.46 2,752.08
CHIPTECH COMPUTER COMPONENTS 153.80 307.60 461.40 1,076.60
CHS BEK COMPUTER COMPONENTS 157.30 314.60 471.90 1,101.10
TECH DATA COMPUTER COMPONENTS 43.00 86.00 129.00 301.00
TECH DATA COMPUTER COMPONENTS 73.50 147.00 220.50 514.50
ELECTROVERT (DIFFERENCE TO BE REVERSED LATER) 250.00 500.00 750.00 1,750.00
SIEMENS FEEDER 1,104.10 2,208.19 3,312.29 7,728.67
CHIPTECH COMPUTER COMPONENTS 326.40 652.80 979.20 2,284.80
ADVANCE CAM TECH 218.50 437.00 655.50 1,529.50
XXXX ELECTRICAL 249.00 498.00 747.00 1,743.00
ADVANCE CAM TECH 25.00 50.00 75.00 175.00
COMP SERVICE S. FLA 974.14 1,948.28 2,922.42 6,819.99
DUKANE ULTRASONIC 556.50 1,113.00 1,669.50 3,895.50
DIVERSIFIED POWER SOLUTIONS 245.80 491.60 737.40 1,720.60
HEWLETT PACKARD 449.96 899.96 1,349.94 3,149.88
SIEMENS EQUIP 23,428.33 46,856.66 70,285.00 398,281.64
ELECTROVERT 3,166.75 6,333.50 9,500.25 53,834.75
MPM EQUIP 6,930.06 13,860.15 20,790.23 117,811.31
RADIAL MACHINE FROM DRI 5,700.00 11,400.00 17,100.00 96,900.00
ELECTROVERT USA 213.44 426.87 640.31 1,494.05
DIVERSIFIED POWER SOLUTIONS 245.80 491.60 737.40 1,720.60
PACE MACHINERY & TOOL 260.76 521.52 782.28 1,825.32
CROWN SIMPLIMATIC 1,130.49 2,260.98 3,391.47 7,913.43
CABLESCAN 94.87 189.74 284.61 664.09
DUKANE ULTRASONIC 750.00 1,500.00 2,250.00 5,250.00
ARCO DISTRIB 67.50 135.00 202.50 472.50
CENTRAL AUDIO VISUAL 583.00 1,166.00 1,749.00 4,081.00
RELOCATE NORTH LINE 316.00 632.00 948.00 2,212.00
XXXX ELECTRIC 511.50 1,023.00 1,534.50 3,580.50
MECH PLUS SERVICES 350.00 700.00 1,050.00 2,450.00
CROWN SIMPLIMATIC 3,367.30 3,367.30 30,305.72
NATIONAL TIME SYSTEM (TIME CLOCK SYSTEM) 825.92 825.92 7,433.28
CHIPTECH COMPUTER COMPONENTS 867.44 867.44 7,806.98
ACCUMULATED DEPRECIATION ACCT = 1545-0000
AMITEK DEPRECIATION DETAIL
ELECTRICAL EQUIPMENT
ACCT 1515-0000
AMITEK CORPORATION
DEPRECIATION SCHEDULE BY CATEGORY
-----------------------------------------------------------------------------------------------------------------------------
ASSET ACCT DATE LIFE COST OR
NO. DESCRIPTION NO. ACQUIRED METHOD YR/MO BASIS
-----------------------------------------------------------------------------------------------------------------------------
SIEMENS (SMT MACHINE) 1515 1/1/98 ST LINE 05/00 5,952.60
XXXX ELECTRIC (SMT MACHINE) 1515 2/3/98 ST LINE 05/00 1,075.00
CITICORP LEASING 1515 2/28/98 ST LINE 10/00 140,874.00
SANYO CITCORP (SMT MACHINE) 1515 3/31/98 ST LINE 10/00 365,170.00
CR TECH COPELCO 9055136Q 1515 3/31/98 ST LINE 10/00 105,894.00
CHIPTECH (COMPUTER COMPONENTS) 1515 3/31/98 ST LINE 05/00 2,610.00
INSERTECH (NEW SMT MACHING PARTS & LABOR) 1515 3/31/98 ST LINE 10/00 10,164.18
CHIPTECH (COMPUTER COMPONENTS) 1515 3/31/98 ST LINE 05/00 3,447.00
SIEMENS (NEW SMT MACHINE) 1515 3/31/98 ST LINE 10/00 29,471.32
XXXX ELECTRICAL 1515 3/31/98 ST LINE 10/00 3,555.00
SIEMENS (NEW SMT MACHINE) 1515 3/31/98 ST LINE 10/00 15,999.50
COMPUSA (COMPAQ PC) 1515 3/31/98 ST LINE 05/00 2,377.77
RACAL MACHINERY 1515 3/31/98 ST LINE 05/00 18,000.00
SURVEILLANCE ONE 1515 3/31/98 ST LINE 05/00 15,423.00
XXXX ELECTRICAL 1515 3/31/98 ST LINE 05/00 2,825.00
MPS (MECHANICAL PLUS SERVICES) TRANSPORT SMT 1515 3/31/98 ST LINE 05/00 3,100.00
1515 3/31/98 ST LINE 10/00 2,706.00
XXXXXXX & ASSOCIATES 1515 4/21/98 ST LINE 05/00 8,200.00
SURVEILLANCE ONE 1515 4/2/98 ST LINE 05/00 1,802.00
FION SYSTEK INC. 1515 4/3/98 ST LINE 05/00
TECH DATA 1515 4/7/98 ST LINE 05/00 1,820.00
TECH DATA 1515 4/27/98 ST LINE 05/00 970.00
TECH DATA 1515 4/27/98 ST LINE 05/00 21.00
TECH DATA 1515 4/27/98 ST LINE 05/00 540.00
RACAL DATACOM 1515 5/4/98 ST LINE 05/00 2,000.00
SEIMENS EQUIPMENT (SMT) 1515 5/31/98 ST LINE 05/00 290,871.42
GENRAD EQUIPMENT 1515 5/31/98 ST LINE 10/00 192,481.64
FKN SYSTEK 1515 5/31/98 ST LINE 10/00 (3,450.00)
CABLES TO GO 1515 5/31/98 ST LINE 05/00 31.68
CABLES TO GO 1515 5/31/98 ST LINE 05/00 37.20
TECH DATA 1515 5/31/98 ST LINE 05/00 2,310.00
TECH DATA 1515 5/31/98 ST LINE 05/00 126.00
CHIP TECH 1515 5/31/98 ST LINE 05/00 5,600.00
TECH DATA 1515 5/31/98 ST LINE 05/00 (970.00)
CABLES TO GO 1515 5/31/98 ST LINE 05/00 963.30
CABLES TO GO 1515 5/31/98 ST LINE 05/00 2,265.20
CABLES TO GO 1515 5/31/98 ST LINE 05/00 537.20
CABLES TO GO 1515 5/31/98 ST LINE 05/00 764.00
COMPUTER ASSOCIATES 1515 5/31/98 ST LINE 05/00 795.00
COMPUTER ASSOCIATES 1515 5/31/98 ST LINE 05/00 495.00
XXXXXXX & ASSOCIATES 1515 5/31/98 ST LINE 05/00 75.00
DUKANE ULTRASONIC 1515 5/31/98 ST LINE 05/00 8,995.00
DUKANE ULTRASONIC 1515 5/31/98 ST LINE 05/00 740.00
DUKANE ULTRASONIC 1515 5/31/98 ST LINE 05/00 2,200.00
DUKANE ULTRASONIC 1515 5/31/98 ST LINE 05/00 2,205.00
DUKANE ULTRASONIC 1515 5/31/98 ST LINE 05/00 2,170.00
NORTHWEST ANALYTICAL 1515 5/31/98 ST LINE 05/00 3,595.00
AMERICAN EXPRESS 1515 5/31/98 ST LINE 05/00 1,407.17
CABLES TO GO 1515 5/31/98 ST LINE 05/00 92.00
CABLES TO GO 1515 5/31/98 ST LINE 05/00 106.50
----------------------------------------------------------------------------------------------------------------------------------
ASSET ACC DEPR CURRENT ACC DEPR WRITE CURRENT ACC DEPR WRITE
NO. DESCRIPTION 01-01-95 DEPR. 12-31-95 OFF DEPR. 12-31-96 OFF
----------------------------------------------------------------------------------------------------------------------------------
SIEMENS (SMT MACHINE)
XXXX ELECTRIC (SMT MACHINE)
CITICORP LEASING
SANYO CITCORP (SMT MACHINE)
CR TECH COPELCO 9055136Q
CHIPTECH (COMPUTER COMPONENTS)
INSERTECH (NEW SMT MACHING PARTS & LABOR)
CHIPTECH (COMPUTER COMPONENTS)
SIEMENS (NEW SMT MACHINE)
XXXX ELECTRICAL
SIEMENS (NEW SMT MACHINE)
COMPUSA (COMPAQ PC)
RACAL MACHINERY
SURVEILLANCE ONE
XXXX ELECTRICAL
MPS (MECHANICAL PLUS SERVICES) TRANSPORT SMT
XXXXXXX & ASSOCIATES
SURVEILLANCE ONE
FION SYSTEK INC.
TECH DATA
TECH DATA
TECH DATA
TECH DATA
RACAL DATACOM
SEIMENS EQUIPMENT (SMT)
GENRAD EQUIPMENT
FKN SYSTEK
CABLES TO GO
CABLES TO GO
TECH DATA
TECH DATA
CHIP TECH
TECH DATA
CABLES TO GO
CABLES TO GO
CABLES TO GO
CABLES TO GO
COMPUTER ASSOCIATES
COMPUTER ASSOCIATES
XXXXXXX & ASSOCIATES
DUKANE ULTRASONIC
DUKANE ULTRASONIC
DUKANE ULTRASONIC
DUKANE ULTRASONIC
DUKANE ULTRASONIC
NORTHWEST ANALYTICAL
AMERICAN EXPRESS
CABLES TO GO
CABLES TO GO
------------------------------------------------------------------------------------------------------------------------------
ASSET CURRENT ACC DEPR WRITE CURRENT ACC DEPR BOOK
NO. DESCRIPTION DEPR. 35795 OFF DEPR. 36160 VALUE
------------------------------------------------------------------------------------------------------------------------------
SIEMENS (SMT MACHINE) 595.26 595.26 5,357.34
XXXX ELECTRIC (SMT MACHINE) 107.50 107.50 967.50
CITICORP LEASING 7,043.70 7,043.70 133,830.30
SANYO CITCORP (SMT MACHINE) 18,258.50 18,258.50 346,911.50
XX XXXX XXXXXXX 0000000X 5,294.70 5,294.70 100,599.30
CHIPTECH (COMPUTER COMPONENTS) 261.00 261.00 2,349.00
INSERTECH (NEW SMT MACHING PARTS & LABOR) 508.21 508.21 9,655.97
CHIPTECH (COMPUTER COMPONENTS) 344.70 344.70 3,102.30
SIEMENS (NEW SMT MACHINE) 1,473.57 1,473.57 27,997.75
XXXX ELECTRICAL 177.75 177.75 3,377.25
SIEMENS (NEW SMT MACHINE) 799.98 799.96 15,199.53
COMPUSA (COMPAQ PC) 237.78 237.78 2,139.99
RACAL MACHINERY 1,800.00 1,800.00 16,200.00
SURVEILLANCE ONE 1,542.30 1,542.30 13,880.70
XXXX ELECTRICAL 282.50 282.50 2,542.50
MPS (MECHANICAL PLUS SERVICES) TRANSPORT SMT 155.00 155.00 2,945.00
270.60 270.60 2,435.40
XXXXXXX & ASSOCIATES 820.00 820.00 7,380.00
SURVEILLANCE ONE 180.20 180.20 1,621.80
FION SYSTEK INC. 0.00 0.00 0.00
TECH DATA 182.00 182.00 1,638.00
TECH DATA 97.00 97.00 873.00
TECH DATA 2.10 2.10 18.90
TECH DATA 54.00 54.00 486.00
RACAL DATACOM 200.00 200.00 1,800.00
SEIMENS EQUIPMENT (SMT) 14,543.57 14,543.57 276,327.85
GENRAD EQUIPMENT 9,623.08 9,623.08 182,838.58
FKN SYSTEK (345.00) (345.00) (3,105.00)
CABLES TO GO 3.17 3.17 28.51
CABLES TO GO 3.72 3.72 33.48
TECH DATA 231.00 231.00 2,079.00
TECH DATA 12.60 12.60 113.40
CHIP TECH 560.00 560.00 5,040.00
TECH DATA (97.00) (97.00) (873.00)
CABLES TO GO 96.33 96.33 866.97
CABLES TO GO 226.52 226.52 2,038.68
CABLES TO GO 53.72 53.72 483.48
CABLES TO GO 76.40 76.40 687.60
COMPUTER ASSOCIATES 79.50 79.50 715.50
COMPUTER ASSOCIATES 49.50 49.50 445.50
XXXXXXX & ASSOCIATES 7.50 7.50 87.50
DUKANE ULTRASONIC 899.50 899.50 8,095.50
DUKANE ULTRASONIC 74.00 74.00 666.00
DUKANE ULTRASONIC 220.00 220.00 1,960.00
DUKANE ULTRASONIC 220.50 220.50 1,964.50
DUKANE ULTRASONIC 271.00 271.00 2,439.00
NORTHWEST ANALYTICAL 359.50 359.50 3,325.50
AMERICAN EXPRESS 140.72 140.72 1,266.45
CABLES TO GO 9.20 9.20 82.80
CABLES TO GO 10.65 10.65 95.85
ACCUMULATED DEPRECIATION ACCT = 1545-0000
AMITEK DEPRECIATION DETAIL
ELECTRICAL EQUIPMENT
ACCT 1515-0000
AMITEK CORPORATION
DEPRECIATION SCHEDULE BY CATEGORY
---------------------------------------------------------------------------------------------------------------------
ASSET ACCT DATE LIFE COST OR
NO. DESCRIPTION NO. ACQUIRED METHOD YR/MO BASIS
---------------------------------------------------------------------------------------------------------------------
NATIONAL TIME 1515 6/30/98 ST LINE 05/00 3,030.86
COMP EQUIP DELL FINANCIAL SERVICE 1515 6/30/98 ST LINE 05/00 43,246.25
XXXX WHITLK 1515 6/30/98 ST LINE 05/00 105,205.00
CHIPTECH 1515 6/30/98 ST LINE 05/00 6,495.00
CHIPTECH 1515 6/30/98 ST LINE 05/00 200.00
CABLES TO GO 1515 6/30/98 ST LINE 05/00 174.15
CABLES TO GO 1515 6/30/98 ST LINE 05/00 26.86
MULTISYSTEMS BAR CODE SOLUTIONS 1515 6/30/98 ST LINE 05/00 3,699.00
TECH DATA 1515 6/30/98 ST LINE 05/00 1,377.32
TECH DATA 1515 6/30/98 ST LINE 05/00 848.84
TECH DATA 1515 6/30/98 ST LINE 05/00 199.84
TECH DATA 1515 6/30/98 ST LINE 05/00 275.04
PC CONNECTION 1515 6/30/98 ST LINE 05/00 399.00
PC CONNECTION 1515 6/30/98 ST LINE 05/00 2,258.00
HR ENTERPRISES USA 1515 6/30/98 ST LINE 05/00 3,072.80
HR ENTERPRISES USA 1515 6/30/98 ST LINE 05/00 65.20
HR ENTERPRISES USA 1515 6/30/98 ST LINE 05/00 984.54
HR ENTERPRISES USA 1515 6/30/98 ST LINE 05/00 102.00
HR ENTERPRISES USA 1515 6/30/98 ST LINE 05/00 253.57
BAR CODE ASSOCIATES 1515 6/30/98 ST LINE 05/00 2,390.00
BAR CODE ASSOCIATES 1515 6/30/98 ST LINE 05/00 143.40
HR ENTERPRISES USA 1515 6/30/98 ST LINE 05/00 1.72
SANYP XXX 0000 6/30/98 ST LINE 05/00 12,540.00
CHIPTECH 1515 6/30/98 ST LINE 05/00 2,640.00
CHIPTECH 1515 6/30/98 ST LINE 05/00 610.00
CHIPTECH 1515 6/30/98 ST LINE 05/00 45.00
PC CONNECTIONS 1515 6/30/98 ST LINE 05/00 499.00
PC CONNECTIONS 1515 6/30/98 ST LINE 05/00 3,999.00
CITICORP 1515 7/30/98 ST LINE 10/00 49,364.20
PC CONNECTION 1515 7/30/98 ST LINE 05/00 (89.85)
PC CONNECTION 1515 7/30/98 ST LINE 05/00 (6.95)
CHIPTECH 1515 7/30/98 ST LINE 05/00 3,729.00
CHIPTECH 1515 7/30/98 ST LINE 05/00 576.00
CHIPTECH 1515 7/30/98 ST LINE 05/00 590.00
ELECTROVERT USA 1515 7/30/98 ST LINE 05/00 99,600.00
EMC GLOBAL TECH 1515 7/30/98 ST LINE 05/00 15,100.00
EMC GLOBAL TECH 1515 7/30/98 ST LINE 05/00 550.00
XXX GO FORTH 1515 7/30/98 ST LINE 05/00 2,200.00
MOTOROLA MFG SYSTEMS 1515 8/30/98 ST LINE 10/00 294,320.00
COMPUTER EQUIPMENT 1515 8/30/98 ST LINE 05/00 3,790.00
COMPUTER EQUIPMENT 1515 8/30/98 ST LINE 05/00 725.00
COMPUTER EQUIPMENT 1515 8/30/98 ST LINE 05/00 1,750.00
AC-1000 CART FEEDER FIR SANYO TCM 1800 1515 8/30/98 ST LINE 05/00 2,780.00
CENTER RAIL SUPPORT OMNI FLOW 1515 8/30/98 ST LINE 05/00 8,034.00
RDC-2 DIGITAL CAMERA 1515 8/30/98 ST LINE 05/00 599.00
AC ADAPTER FOR CAMERA 1515 8/30/98 ST LINE 05/00 29.95
ATA FLASH CARD 1515 8/30/98 ST LINE 05/00 199.95
COMPUTER EQUIPMENT 1515 8/30/98 ST LINE 05/00 439.95
COMPUTER EQUIPMENT 1515 8/30/98 ST LINE 05/00 3,762.00
COMPUTER EQUIPMENT 1515 8/30/98 ST LINE 05/00 915.00
----------------------------------------------------------------------------------------------------------------------------------
ASSET ACC DEPR CURRENT ACC DEPR WRITE CURRENT ACC DEPR WRITE
NO. DESCRIPTION 01-01-95 DEPR. 12-31-95 OFF DEPR. 12-31-96 OFF
----------------------------------------------------------------------------------------------------------------------------------
NATIONAL TIME
COMP EQUIP DELL FINANCIAL SERVICE
XXXX WHITLK
XXXXXXXX
XXXXXXXX
CABLES TO GO
CABLES TO GO
MULTISYSTEMS BAR CODE SOLUTIONS
TECH DATA
TECH DATA
TECH DATA
TECH DATA
PC CONNECTION
PC CONNECTION
HR ENTERPRISES USA
HR ENTERPRISES USA
HR ENTERPRISES USA
HR ENTERPRISES USA
HR ENTERPRISES USA
BAR CODE ASSOCIATES
BAR CODE ASSOCIATES
HR ENTERPRISES USA
SANYP NSA
CHIPTECH
XXXXXXXX
XXXXXXXX
PC CONNECTIONS
PC CONNECTIONS
CITICORP
PC CONNECTION
PC CONNECTION
CHIPTECH
XXXXXXXX
XXXXXXXX
ELECTROVERT USA
EMC GLOBAL TECH
EMC GLOBAL TECH
XXX GO FORTH
MOTOROLA MFG SYSTEMS
COMPUTER EQUIPMENT
COMPUTER EQUIPMENT
COMPUTER EQUIPMENT
AC-1000 CART FEEDER FIR SANYO TCM 1800
CENTER RAIL SUPPORT OMNI FLOW
RDC-2 DIGITAL CAMERA
AC ADAPTER FOR CAMERA
ATA FLASH CARD
COMPUTER EQUIPMENT
COMPUTER EQUIPMENT
COMPUTER EQUIPMENT
------------------------------------------------------------------------------------------------------------------------------
ASSET CURRENT ACC DEPR WRITE CURRENT ACC DEPR BOOK
NO. DESCRIPTION DEPR. 35795 OFF DEPR. 36160 VALUE
------------------------------------------------------------------------------------------------------------------------------
NATIONAL TIME 303.09 303.09 2,727.77
COMP EQUIP DELL FINANCIAL SERVICE 4,324.63 4,324.63 38,921.63
XXXX WHITLK 10,520.50 10,520.50 94,684.50
CHIPTECH 649.50 649.50 5,845.50
CHIPTECH 20.00 20.00 180.00
CABLES TO GO 17.42 17.42 156.74
CABLES TO GO 2.69 2.69 24.17
MULTISYSTEMS BAR CODE SOLUTIONS 369.90 369.90 3,329.10
TECH DATA 137.73 137.73 1,239.59
TECH DATA 84.88 84.88 763.96
TECH DATA 19.96 19.96 179.86
TECH DATA 27.50 27.50 371.50
PC CONNECTION 39.90 39.90 247.54
PC CONNECTION 225.80 225.80 359.10
HR ENTERPRISES USA 307.28 307.28 2,032.20
HR ENTERPRISES USA 6.52 6.52 2,765.52
HR ENTERPRISES USA 98.45 98.45 56.68
HR ENTERPRISES USA 10.20 10.20 888.09
HR ENTERPRISES USA 25.36 25.36 91.80
BAR CODE ASSOCIATES 239.00 239.00 228.21
BAR CODE ASSOCIATES 14.34 14.34 2,151.00
HR ENTERPRISES USA 0.17 0.17 129.06
SANYP NSA 1,254.00 1,254.00 1.55
CHIPTECH 264.00 264.00 11,266.00
CHIPTECH 61.00 61.00 2,376.00
CHIPTECH 4.50 4.50 549.00
PC CONNECTIONS 49.90 49.90 40.50
PC CONNECTIONS 399.90 399.90 449.10
CITICORP 2,468.21 2,468.21 3,599.10
PC CONNECTION (8.99) (8.99) 46,895.99
PC CONNECTION (0.70) (0.70) (80.87)
CHIPTECH 372.90 372.90 (6.26)
CHIPTECH 57.60 57.60 3,356.10
CHIPTECH 59.00 59.00 518.40
ELECTROVERT USA 9,960.00 9,960.00 531.00
EMC GLOBAL TECH 1,510.00 1,510.00 89,640.00
EMC GLOBAL TECH 55.00 55.00 13,590.00
XXX GO FORTH 220.00 220.00 294,100.00
MOTOROLA MFG SYSTEMS 14,716.00 14,716.00 495.00
COMPUTER EQUIPMENT 379.00 379.00 1,960.00
COMPUTER EQUIPMENT 72.50 72.50 279,604.00
COMPUTER EQUIPMENT 175.00 175.00 3,411.00
AC-1000 CART FEEDER FIR SANYO TCM 1800 278.00 278.00 652.50
CENTER RAIL SUPPORT OMNI FLOW 803.40 803.40 1,575.00
RDC-2 DIGITAL CAMERA 59.90 59.90 2,502.00
AC ADAPTER FOR CAMERA 3.00 3.00 7,230.60
ATA FLASH CARD 20.00 20.00 26.96
COMPUTER EQUIPMENT 44.00 44.00 395.96
COMPUTER EQUIPMENT 376.20 376.20 3,385.80
COMPUTER EQUIPMENT 91.50 91.50 832.50
ACCUMULATED DEPRECIATION ACCT = 1545-0000
AMITEK DEPRECIATION DETAIL
ELECTRICAL EQUIPMENT
ACCT 1515-0000
AMITEK CORPORATION
DEPRECIATION SCHEDULE BY CATEGORY
-----------------------------------------------------------------------------------------------------------------------------------
ASSET ACCT DATE LIFE COST OR
NO. DESCRIPTION NO. ACQUIRED METHOD YR/MO BASIS
-----------------------------------------------------------------------------------------------------------------------------------
COMPUTER EQUIPMENT 1515 8/30/98 ST LINE 05/00 3,300.00
COMPUTER EQUIPMENT 1515 8/30/98 ST LINE 05/00 117.00
COMPUTER EQUIPMENT 1515 8/30/98 ST LINE 05/00 1,926.60
COMPUTER EQUIPMENT 1515 8/30/98 ST LINE 05/00 528.00
COMPUTER EQUIPMENT 1515 8/30/98 ST LINE 05/00 440.00
COMPUTER EQUIPMENT 1515 8/30/98 ST LINE 05/00 680.00
COMPUTER EQUIPMENT 1515 8/30/98 ST LINE 05/00 156.00
COMPUTER EQUIPMENT 1515 8/30/98 ST LINE 05/00 1,975.00
COMPUTER EQUIPMENT 1515 8/30/98 ST LINE 05/00 4,375.00
COMPUTER EQUIPMENT 1515 8/30/98 ST LINE 05/00 599.97
COMPUTER EQUIPMENT 1515 8/30/98 ST LINE 05/00 479.98
COMPUTER EQUIPMENT 1515 8/30/98 ST LINE 05/00 7,995.00
COMPUTER EQUIPMENT 1515 8/30/98 ST LINE 05/00 295.00
COMPUTER EQUIPMENT 1515 8/30/98 ST LINE 05/00 2,995.00
COMPUTER EQUIPMENT 1515 8/30/98 ST LINE 05/00 295.00
SUPERMOLE DELUXE KIT 1515 8/30/98 ST LINE 05/00 5,495.00
BATTERY PACK 1515 8/30/98 ST LINE 05/00 219.00
SAMSUNG MACHINE 1515 9/30/98 ST LINE 05/00 18,105.00
SIEMENS 1515 9/30/98 ST LINE 05/00 650.00
CHIPTECH 1515 9/30/98 ST LINE 05/00 50.00
CHIPTECH 1515 9/30/98 ST LINE 05/00 90.00
CHIPTECH 1515 9/30/98 ST LINE 05/00 4,398.00
STARBOARD TECH 1515 9/30/98 ST LINE 05/00 5,640.00
AIRVAC 1515 10/31/98 ST LINE 05/00 6,151.45
MOTOROLA MFG 1515 10/31/98 ST LINE 05/00 3,187.00
MOTOROLA MFG 1515 10/31/98 ST LINE 05/00 400.00
XXXX ELECTRICAL 1515 10/31/98 ST LINE 05/00 2,360.00
XXXX ELECTRICAL 1515 10/31/98 ST LINE 05/00 425.00
CHIPTECH 1515 10/31/98 ST LINE 05/00 49,966.00
CHIPTECH 1515 10/31/98 ST LINE 05/00 1,975.00
CHIPTECH 1515 10/31/98 ST LINE 05/00 4,375.00
CHIPTECH 1515 10/31/98 ST LINE 05/00 12.00
CHIPTECH 1515 10/31/98 ST LINE 05/00 3,970.00
CHIPTECH 1515 10/31/98 ST LINE 05/00 480.00
CHIPTECH 1515 10/31/98 ST LINE 05/00 2,100.00
XXXX ELECTRICAL 1515 10/31/98 ST LINE 05/00 2,410.00
JEMICAL SALE OF EQUIPMENT 1515 11/30/98 ST LINE 05/00 $ (2,000.00)
ENTERPRISE 530660 TECH BENCH 30"X60" 1515 11/30/98 ST LINE 05/00 $ 3,614.00
ENTERPRISE 515600 RISER SHELF 15"X60" 1515 11/30/98 ST LINE 05/00 $ 2,117.00
ENTERPRISE 10113L TABLE TOP 29"X61-1/4" 1515 11/30/98 ST LINE 05/00 $ 218.82
ENTERPRISE 10113R TABLE TOP 29"X61-1/4" 1515 11/30/98 ST LINE 05/00 $ 218.82
ENTERPRISE 101113 TABLE TOP 29"X61" 1515 11/30/98 ST LINE 05/00 $ 211.38
ENTERPRISE 10248 - UNDERSHELF LIGHT 48" 1515 11/30/98 ST LINE 05/00 $ 819.35
ENTERPRISE SALES TAX 1515 11/30/98 ST LINE 05/00 $ 420.00
RECLASS SIEMANS 1515 12/31/98 ST LINE 05/00 $ 45,485.00
XXXX ELECTRICAL 1515 12/31/98 ST LINE 05/00 $ 625.00
VIDEOJET SYSTEMS INTL 1515 12/31/98 ST LINE 05/00 $ 9,280.00
VIDEOJET SYSTEMS INTL 1515 12/31/98 ST LINE 05/00 $ 199.00
VIDEOJET SYSTEMS INTL 1515 12/31/98 ST LINE 05/00 $ 210.00
VIDEOJET SYSTEMS INTL 1515 12/31/98 ST LINE 05/00 $ 1,890.00
----------------------------------------------------------------------------------------------------------------------------------
ASSET ACC DEPR CURRENT ACC DEPR WRITE CURRENT ACC DEPR WRITE
NO. DESCRIPTION 01-01-95 DEPR. 12-31-95 OFF DEPR. 12-31-96 OFF
----------------------------------------------------------------------------------------------------------------------------------
COMPUTER EQUIPMENT
COMPUTER EQUIPMENT
COMPUTER EQUIPMENT
COMPUTER EQUIPMENT
COMPUTER EQUIPMENT
COMPUTER EQUIPMENT
COMPUTER EQUIPMENT
COMPUTER EQUIPMENT
COMPUTER EQUIPMENT
COMPUTER EQUIPMENT
COMPUTER EQUIPMENT
COMPUTER EQUIPMENT
COMPUTER EQUIPMENT
COMPUTER EQUIPMENT
COMPUTER EQUIPMENT
SUPERMOLE DELUXE KIT
BATTERY PACK
SAMSUNG MACHINE
SIEMENS
CHIPTECH
XXXXXXXX
XXXXXXXX
STARBOARD TECH
AIRVAC
MOTOROLA MFG
MOTOROLA MFG
XXXX ELECTRICAL
XXXX ELECTRICAL
XXXXXXXX
XXXXXXXX
XXXXXXXX
XXXXXXXX
XXXXXXXX
XXXXXXXX
XXXXXXXX
XXXX ELECTRICAL
JEMICAL SALE OF EQUIPMENT
ENTERPRISE 530660 TECH BENCH 30"X60"
ENTERPRISE 515600 RISER SHELF 15"X60"
ENTERPRISE 10113L TABLE TOP 29"X61-1/4"
ENTERPRISE 10113R TABLE TOP 29"X61-1/4"
ENTERPRISE 101113 TABLE TOP 29"X61"
ENTERPRISE 10248 - UNDERSHELF LIGHT 48"
ENTERPRISE SALES TAX
RECLASS SIEMANS
XXXX ELECTRICAL
VIDEOJET SYSTEMS INTL
VIDEOJET SYSTEMS INTL
VIDEOJET SYSTEMS INTL
VIDEOJET SYSTEMS INTL
-----------------------------------------------------------------------------------------------------------------------------
ASSET CURRENT ACC DEPR WRITE CURRENT ACC DEPR BOOK
NO. DESCRIPTION DEPR. 35795 OFF DEPR. 36160 VALUE
-----------------------------------------------------------------------------------------------------------------------------
COMPUTER EQUIPMENT 330.00 330.00 2,970.00
COMPUTER EQUIPMENT 11.70 11.70 105.30
COMPUTER EQUIPMENT 192.68 192.68 1,733.94
COMPUTER EQUIPMENT 52.80 52.80 475.20
COMPUTER EQUIPMENT 44.00 44.00 396.00
COMPUTER EQUIPMENT 68.00 68.00 612.00
COMPUTER EQUIPMENT 15.60 15.60 140.40
COMPUTER EQUIPMENT 197.50 197.50 1,777.50
COMPUTER EQUIPMENT 437.50 437.50 3,937.50
COMPUTER EQUIPMENT 60.00 60.00 539.97
COMPUTER EQUIPMENT 48.00 48.00 431.98
COMPUTER EQUIPMENT 799.50 799.50 7,195.50
COMPUTER EQUIPMENT 29.50 29.50 265.50
COMPUTER EQUIPMENT 299.50 299.50 2,695.50
COMPUTER EQUIPMENT 29.50 29.50 265.50
SUPERMOLE DELUXE KIT 549.50 549.50 4,945.20
BATTERY PACK 21.90 21.90 197.10
SAMSUNG MACHINE 905.25 905.25 17,199.75
SIEMENS 65.00 65.00 585.00
CHIPTECH 5.00 5.00 45.00
CHIPTECH 9.00 9.00 81.00
CHIPTECH 439.80 439.80 3,958.20
STARBOARD TECH 564.00 564.00 5,076.00
AIRVAC 615.15 615.15 5,536.31
MOTOROLA MFG 318.70 318.70 2,868.30
MOTOROLA MFG 40.00 40.00 360.00
XXXX ELECTRICAL 236.00 236.00 2,124.00
XXXX ELECTRICAL 42.50 42.50 382.50
CHIPTECH 499.60 499.60 4,496.40
CHIPTECH 197.50 197.50 1,777.50
CHIPTECH 437.50 437.50 3,937.50
CHIPTECH 1.20 1.20 10.80
CHIPTECH 397.00 397.00 3,573.00
CHIPTECH 48.00 48.00 432.00
CHIPTECH 210.00 210.00 1,890.00
XXXX ELECTRICAL 241.00 241.00 2,169.00
JEMICAL SALE OF EQUIPMENT (200.00) (200.00) (1,800.00)
ENTERPRISE 530660 TECH BENCH 30"X60" 361.40 361.40 3,252.60
ENTERPRISE 515600 RISER SHELF 15"X60" 211.76 211.76 1,905.60
ENTERPRISE 10113L TABLE TOP 29"X61-1/4" 21.88 21.88 196.94
ENTERPRISE 10113R TABLE TOP 29"X61-1/4" 21.88 21.88 196.94
ENTERPRISE 101113 TABLE TOP 29"X61" 21.14 21.14 190.24
ENTERPRISE 10248 - UNDERSHELF LIGHT 48" 61.94 61.94 557.42
ENTERPRISE SALES TAX 42.00 42.00 378.00
RECLASS SIEMANS 4,548.50 4,548.50 40,936.50
XXXX ELECTRICAL 62.50 62.50 562.50
VIDEOJET SYSTEMS INTL 928.00 928.00 8,352.00
VIDEOJET SYSTEMS INTL 19.90 19.90 179.10
VIDEOJET SYSTEMS INTL 21.00 21.00 189.00
VIDEOJET SYSTEMS INTL 189.00 189.00 1,701.00
ACCUMULATED DEPRECIATION ACCT = 1545-0000
AMITEK DEPRECIATION DETAIL
ELECTRICAL EQUIPMENT
ACCT 1515-0000
AMITEK CORPORATION
DEPRECIATION SCHEDULE BY CATEGORY
-----------------------------------------------------------------------------------------------------------------------------------
ASSET ACCT DATE LIFE COST OR ACC DEPR CURRENT
NO. DESCRIPTION NO. ACQUIRED METHOD YR/MO BASIS 01-01-95 DEPR.
-----------------------------------------------------------------------------------------------------------------------------------
VIDEOJET SYSTEMS INTL 1515 12/31/96 ST LINE 05/00 $ 1,322.06
XXXXXXXX INDUSTRIES 1515 12/31/96 ST LINE 05/00 $ 965.00
VIDEOJET SYSTEMS INTL 1515 12/31/96 ST LINE 05/00 $ (627.34)
OKI TELECOM 1515 12/31/96 ST LINE 05/00 $ 995.00
OKI TELECOM 1515 12/31/96 ST LINE 05/00 $ 995.00
OKI TELECOM 1515 12/31/96 ST LINE 05/00 $ 995.00
5,034,582.98
-----------------------------------------------------------------------------------------------------------------------------------
ASSET ACC DEPR WRITE CURRENT ACC DEPR WRITE CURRENT
NO. DESCRIPTION 12-31-95 OFF DEPR. 12-31-96 OFF DEPR.
-----------------------------------------------------------------------------------------------------------------------------------
VIDEOJET SYSTEMS INTL
XXXXXXXX INDUSTRIES
VIDEOJET SYSTEMS INTL
OKI TELECOM
OKI TELECOM
OKI TELECOM
--------------------------------------------------------------------------------------------------------------------------------
ASSET ACC DEPR WRITE CURRENT ACC DEPR BOOK
NO. DESCRIPTION 35795 OFF DEPR. 36160 VALUE
--------------------------------------------------------------------------------------------------------------------------------
VIDEOJET SYSTEMS INTL 132.21 132.21 1,189.87
XXXXXXXX INDUSTRIES 96.50 96.50 868.50
VIDEOJET SYSTEMS INTL (62.73) (62.73) (564.61)
OKI TELECOM 99.50 99.50 895.50
OKI TELECOM 99.50 99.50 895.50
OKI TELECOM 99.50 99.50 895.50
695,972.72 6,487.05 482,411.05 1,105,210.84
ACCUMULATED DEPRECIATION ACCT = 1545-0000
AMITEK DEPRECIATION DETAIL
PHONE EQUIPMENT
ACCT 1516
AMITEK CORPORATION
DEPRECIATION SCHEDULE BY CATEGORY
-----------------------------------------------------------------------------------------------------------------------------------
ASSET ACCT DATE LIFE COST OR ACC DEPR CURRENT
NO. DESCRIPTION NO. ACQUIRED METHOD YR/MO BASIS 01-01-95 DEPR.
-----------------------------------------------------------------------------------------------------------------------------------
PHONE SYSTEM 1516 3/31/96 ST LINE 07/00 34,820.44
PHONE SYSTEM 1516 1/15/97 ST LINE 07/00 4,641.19
PHONE SYSTEM 1516 1/1/98 ST LINE 07/00 7,632.00
PHONE SYSTEM 1516 3/1/98 ST LINE 07/00 1,144.80
PHONE SYSTEM 1516 3/1/98 ST LINE 07/00 1,144.80
PHONE SYSTEM 1516 3/1/98 ST LINE 07/00 538.62
PHONE SYSTEM 1516 3/1/98 ST LINE 07/00 920.08
PHONE SYSTEM 1516 7/1/98 ST LINE 07/00 1,418.28
PHONE SYSTEM 1516 7/1/98 ST LINE 07/00 373.12
PHONE SYSTEM 1516 7/1/98 ST LINE 07/00 1,852.88
PHONE SYSTEM 1516 7/1/98 ST LINE 07/00 1,584.70
PHONE SYSTEM 1516 9/3/98 ST LINE 07/00 2,033.08
PHONE SYSTEM 1516 10/1/98 ST LINE 07/00 1,684.87
PHONE SYSTEM 1516 10/1/98 ST LINE 07/00 326.48
PHONE SYSTEM 1516 10/1/98 ST LINE 07/00 475.41
60,590.75
-----------------------------------------------------------------------------------------------------------------------------------
ASSET ACC DEPR WRITE CURRENT ACC DEPR WRITE CURRENT
NO. DESCRIPTION 12-31-95 OFF DEPR. 12-31-96 OFF DEPR.
-----------------------------------------------------------------------------------------------------------------------------------
PHONE SYSTEM 2,487.17 2,487.17 4,974.35
PHONE SYSTEM 331.51
PHONE SYSTEM
PHONE SYSTEM
PHONE SYSTEM
PHONE SYSTEM
PHONE SYSTEM
PHONE SYSTEM
PHONE SYSTEM
PHONE SYSTEM
PHONE SYSTEM
PHONE SYSTEM
PHONE SYSTEM
PHONE SYSTEM
PHONE SYSTEM
-------------------------------------------------------------------------------------------------------------------------
ASSET ACC DEPR WRITE CURRENT ACC DEPR BOOK
NO. DESCRIPTION 35795 OFF DEPR. 36160 VALUE
-------------------------------------------------------------------------------------------------------------------------
PHONE SYSTEM 7,461.52 4,974.35 12,435.87 22,384.57
PHONE SYSTEM 331.51 663.03 994.54 3,646.65
PHONE SYSTEM 545.14 545.14 7,066.86
PHONE SYSTEM 81.77 81.77 1,063.03
PHONE SYSTEM 81.77 81.77 1,063.03
PHONE SYSTEM 38.47 38.47 500.15
PHONE SYSTEM 65.72 65.72 854.36
PHONE SYSTEM 101.31 101.31 1,316.97
PHONE SYSTEM 26.65 26.65 346.47
PHONE SYSTEM 132.35 132.35 1,720.53
PHONE SYSTEM 113.19 113.19 1,471.51
PHONE SYSTEM 145.22 145.22 1,887.86
PHONE SYSTEM 120.35 120.35 1,564.52
PHONE SYSTEM 23.32 23.32 303.16
PHONE SYSTEM 33.96 33.96 441.45
7,793.03 7,146.60 14,939.63 45,651.12
ACCUMULATED DEPRECIATION ACCT = 1517-0000
AMITEK DEPRECIATION DETAIL
FURNITURE AND FIXTURES
ACCT 1510
AMITEK CORPORATION
DEPRECIATION SCHEDULE BY CATEGORY
--------------------------------------------------------------------------------------------------------------------------------
ASSET ACCT DATE LIFE COST OR ACC DEPR CURRENT ACC DEPR WRITE
NO. DESCRIPTION NO. ACQUIRED METHOD YR/MO BASIS 01-01-95 DEPR. 12-31-95 OFF
--------------------------------------------------------------------------------------------------------------------------------
CARPET 0000 00-00-00 200% DB 07/00S 750.00 381.12 52.70 433.82
FURNITURE AND FIXTURES 0000 00-00-00 ST LINE 05/00 546.00 163.80 109.20 273.00
FURNITURE/FIXTURES ADDS-1994 0000 00-00-00 ST LINE 07/00 38,214.42 2,729.60 5,459.20 8,188.80
FURNITURE/FIXTURES ADDS-1995 0000 00-00-00 ST LINE 07/00 13,315.18 0.00 964.11 964.11
FURNITURE/FIXTURES ADDS-1996 0000 00-00-00 ST LINE 07/00 2,778.19 0.00 0.00
FURNITURE/FIXTURES ADDS-1997 1510 1/15/97 ST LINE 07/00 30,612.40 86,216.19
STARBOARD TECHNOLOGY 1510 5/4/98 ST LINE 07/00 270.00
STARBOARD TECHNOLOGY 1510 5/4/98 ST LINE 07/00 16.20
STARBOARD TECHNOLOGY 1510 5/4/98 ST LINE 07/00 540.00
STARBOARD TECHNOLOGY 1510 5/4/98 ST LINE 07/00 32.40
XXXXXXX & SONS 1510 5/16/98 ST LINE 07/00 999.60
XXXXXXX & SONS 1510 5/16/98 ST LINE 07/00 4,536.00
XXXXXXX & SONS 1510 5/16/98 ST LINE 07/00 148.68
XXXXXXX & SONS 1510 5/16/98 ST LINE 07/00 369.48
93,128.55
-----------------------------------------------------------------------------------------------------------------------------------
ASSET CURRENT ACC DEPR WRITE CURRENT ACC DEPR WRITE CURRENT ACC DEPR BOOK
NO. DESCRIPTION DEPR. 12-31-96 OFF DEPR. 35795 OFF DEPR. 36160 VALUE
-----------------------------------------------------------------------------------------------------------------------------------
CARPET 90.34 524.16 53.57 577.73 172.27 750.00 (0.00)
FURNITURE AND FIXTURES 109.20 382.20 39.00 421.20 109.20 530.40 15.60
FURNITURE/FIXTURES ADDS-1994 5,459.20 13,648.00 2,729.60 15,001.62 5,459.20 20,460.82 17,753.60
FURNITURE/FIXTURES ADDS-1995 1,902.17 2,866.28 1,902.17 4,768.45 1,902.17 6,670.62 6,644.56
FURNITURE/FIXTURES ADDS-1996 396.88 396.88 198.44 595.32 396.88 992.21 1,785.98
FURNITURE/FIXTURES ADDS-1997 2,186.60 2,186.60 2,186.60 4,373.20 25,737.52 4,373.20 8,746.40 21,866.00
STARBOARD TECHNOLOGY 19.29 19.29 250.71
STARBOARD TECHNOLOGY 1.16 1.16 15.04
STARBOARD TECHNOLOGY 38.57 38.57 501.43
STARBOARD TECHNOLOGY 2.31 2.31 30.09
XXXXXXX & SONS 71.40 71.40 928.20
XXXXXXX & SONS 324.00 324.00 4,212.00
XXXXXXX & SONS 10.62 10.62 138.06
XXXXXXX & SONS 26.39 26.39 343.09
25,737.52 12,906.67 38,644.19
ACCUMULATED DEPRECIATION ACCT = 1520-0000
AMITEK DEPRECIATION DETAIL
LEASEHOLD IMPROVEMENTS
ACCT 1550
AMITEK CORPORATION
DEPRECIATION SCHEDULE BY CATEGORY
----------------------------------------------------------------------------------------------------------------------------------
ASSET ACCT DATE LIFE COST OR ACC DEPR CURRENT ACC DEPR WRITE
NO. DESCRIPTION NO. ACQUIRED METHOD YR/MO BASIS 01-01-95 DEPR. 12-31-95 OFF
----------------------------------------------------------------------------------------------------------------------------------
LEASEHOLD IMPROVEMENTS 1550 06/30/95 ST LINE 07/00 26,632.40 341.44 341.44
LEASEHOLD IMPROVEMENTS 1550 1/15/97 ST LINE 07/00 11,598.32
XXXXXXXXXX 1550 1/15/97 ST LINE 07/00 725.00
LIGHTING FIXTURE 1550 4/1/98 ST LINE 07/00 3,525.00
HIGH BAY LIGHTING 1550 5/1/98 ST LINE 07/00 2,115.00
LIGHTING FIXTURES PURCHASING 1550 6/1/98 ST LINE 07/00 2,570.00
XXXXXXXXXX 1550 6/1/98 ST LINE 07/00 1,460.00
XXXXXXXXXX 1550 7/1/99 ST LINE 07/00 2,920.00
ROOF WORK A/C UNIT 1550 7/1/98 ST LINE 07/00 2,400.00
L/H IMPROVEMENT (NEED DETAIL) 1550 7/1/98 ST LINE 07/00 932.80
INSTALL NEW A/C 1550 7/1/98 ST LINE 07/00 23,150.00
SCREEN BUILDERS 1550 8/1/98 ST LINE 07/00 3,400.00
XXXXXXXXXX 1550 8/1/98 ST LINE 07/00 2,765.00
XXXXXXXXXX 1550 8/1/98 ST LINE 07/00 665.00
SCREEN BUILDERS 1550 8/1/98 ST LINE 07/00 15,314.00
XXXXXXXXXX 1550 8/1/98 ST LINE 07/00 665.00
XXXXXXXXXX 1550 8/1/98 ST LINE 07/00 2,125.00
LEES HOUSE OF RUGS 1550 8/1/98 ST LINE 07/00 789.76
FANS & DUCTWORK 1550 8/1/98 ST LINE 07/00 3,340.00
ELECTRICAL (NEW BATHROOM) 1550 8/1/98 ST LINE 07/00 120.00
XXXXX XXX 1550 9/1/98 ST LINE 07/00 2,000.00
SCREEN BUILDERS 1550 9/1/98 ST LINE 07/00 14,971.00
XXXXXXXXXX 1550 9/1/98 ST LINE 07/00 1,062.50
SCREEN BUILDERS 1550 9/1/98 ST LINE 07/00 3,743.00
SOUTHERN AWNING 1550 9/1/98 ST LINE 07/00 2,185.00
BOLT FIRE PROTECTION 1550 9/1/98 ST LINE 07/00 756.00
XXXXXXXXXX 1550 9/1/98 ST LINE 07/00 1,062.50
LEES HOUSE OF RUGS 1550 9/1/98 ST LINE 07/00 146.55
XXXX ELECTRICAL 1550 9/1/98 ST LINE 07/00 1,875.00
XXXX ELECTRICAL 1550 9/1/98 ST LINE 07/00 6,275.00
MECH SERVICE PLUS 1550 9/1/98 ST LINE 07/00 3,600.00
M14CHEE FILTER 1550 9/1/98 ST LINE 07/00 194.28
MECH SERVICE PLUS 1550 9/1/98 ST LINE 07/00 6,000.00
XXXX ELECTRICAL 1550 9/1/98 ST LINE 07/00 13,755.00
XXXXX XXX 1550 10/1/98 ST LINE 07/00 2,000.00
HIGH REACH 1550 10/1/98 ST LINE 07/00 481.77
WIRE PARTITION 1550 10/1/98 ST LINE 07/00 1,169.18
L/H IMPROVEMENT (NEED DETAIL) 1550 10/1/98 ST LINE 07/00 6,440.00
HIGH REACH 1550 11/1/98 ST LINE 07/00 402.27
HIGH REACH 1550 12/1/98 ST LINE 07/00 560.28
XXXX ELECTRICAL 1550 12/1/98 ST LINE 07/00 230.00
XXXX ELECTRICAL 1550 12/1/98 ST LINE 07/00 325.00
XXXX ELECTRICAL 1550 12/1/98 ST LINE 07/00 1,150.00
177,596.61
------------------------------------------------------------------------------------------------------------------------------------
ASSET CURRENT ACC DEPR WRITE CURRENT ACC DEPR WRITE CURRENT ACC DEPR BOOK
NO. DESCRIPTION DEPR. 12-31-96 OFF DEPR. December-97 OFF DEPR. December-97 VALUE
------------------------------------------------------------------------------------------------------------------------------------
LEASEHOLD IMPROVEMENTS 682.88 1,024.32 682.88 1,707.21 11,608.99 13,316.20 13,316.20
LEASEHOLD IMPROVEMENTS 148.70 148.70 1,656.90 1,805.90 9,792.42
XXXXXXXXXX 51.79 51.79 673.21
LIGHTING FIXTURE 251.79 251.79 3,273.21
HIGH BAY LIGHTING 151.07 151.07 1,963.93
LIGHTING FIXTURES PURCHASING 183.57 183.57 2,386.43
XXXXXXXXXX 104.29 104.29 1,355.71
XXXXXXXXXX 206.57 206.57 2,711.43
ROOF WORK A/C UNIT 171.43 171.43 2,228.57
L/H IMPROVEMENT (NEED DETAIL) 66.63 66.63 866.17
INSTALL NEW A/C 1,653.57 1,653.57 21,496.43
SCREEN BUILDERS 242.86 242.86 3,157.14
XXXXXXXXXX 197.50 197.50 2,567.50
XXXXXXXXXX 47.50 47.50 617.50
SCREEN BUILDERS 1,093.86 1,093.86 14,220.14
XXXXXXXXXX 47.50 47.50 617.50
XXXXXXXXXX 151.79 151.79 1,973.21
LEES HOUSE OF RUGS 56.41 56.41 733.35
FANS & DUCTWORK 238.57 238.57 3,101.43
ELECTRICAL (NEW BATHROOM) 8.57 8.57 111.43
XXXXX XXX 142.86 142.86 1,857.14
SCREEN BUILDERS 1,069.36 1,069.36 13,901.64
XXXXXXXXXX 75.89 75.89 986.61
SCREEN BUILDERS 267.36 267.36 3,475.64
SOUTHERN AWNING 156.07 156.07 2,028.93
BOLT FIRE PROTECTION 54.00 54.00 702.00
XXXXXXXXXX 75.89 75.89 986.61
LEES HOUSE OF RUGS 10.47 10.47 136.08
XXXX ELECTRICAL 133.93 133.93 1,741.07
XXXX ELECTRICAL 448.21 448.21 5,826.79
MECH SERVICE PLUS 257.14 257.14 3,342.86
M14CHEE FILTER 13.88 13.88 180.40
MECH SERVICE PLUS 428.57 428.57 5,571.43
XXXX ELECTRICAL 962.50 962.50 12,772.50
XXXXX XXX 142.86 142.86 1,857.14
HIGH REACH 34.41 34.41 447.36
WIRE PARTITION 83.51 83.51 1,085.67
L/H IMPROVEMENT (NEED DETAIL) 460.00 460.00 5,980.00
HIGH REACH 28.73 28.73 373.54
HIGH REACH 40.02 40.02 520.26
XXXX ELECTRICAL 16.43 16.43 213.57
XXXX ELECTRICAL 23.21 23.21 301.79
XXXX ELECTRICAL 82.14 82.14 1,067.86
1,855.90 23,220.60 25,076.50
ACCUMULATED DEPRECIATION ACCT = 1555-0000
AMITEK DEPRECIATION DETAIL
ELECTRICAL EQUIPMENT
ACCT 1515-0000
AMITEK CORPORATION
DEPRECIATION SCHEDULE BY CATEGORY
------------------------------------------------------------------------------------------------------------------------------------
ASSET ACCT DATE LIFE COST OR ACC DEPR CURRENT
NO. DESCRIPTION NO. ACQUIRED METHOD YR/MO BASIS 01-01-95 DEPR.
------------------------------------------------------------------------------------------------------------------------------------
ELECTRIC WORK 0000 00-00-00 200% DB 07/00 4,478.00 2,274.94 629.45
EASTERN ELEC - CONVEYOR SYSTEM 0000 00-00-00 200% DB 05/00 3,807.00 2,505.00 520.80
EASTERN ELEC - WAVE SOLDERER 0000 00-00-00 200% DB 05/00 $11,843.98 $2,462.41
EASTERN ELEC - WAVE SOLDER 0000 00-00-00 200% DB 05/00 20,000.00 13,159.97 2,736.01
EASTERN ELEC - PREP EQUIPMENT 0000 00-00-00 200% DB 05/00 900.00 592.20 123.12
REFLOW OVEN 0000 00-00-00 200% DB 05/00 13,721.00 9,028.40 1,877.04
POWER SUPPLY 0000 00-00-00 200% DB 05/00 947.00 623.00 129.60
WAVE SOLDER CONNECTION 0000 00-00-00 200% DB 05/00 12,075.00 7,945.44 1,651.82
MULTIMOD(DOWN PAYMENT) 0000 00-00-00 200% DB 05/00 12,500.00 8,225.00 1,710.00
AIR COMPRESSOR TANK 0000 00-00-00 200% DB 05/00 2,645.00 1,740.42 361.87
BUILDING SUPPLIES 0000 00-00-00 200% DB 05/00S 82.00 53.92 5.62
CONVEYORS AND FEEDERS 0000 00-00-00 200% DB 05/00 7,003.00 4,609.20 958.32
GENRAD PC BOARD TESTER - DOWN PAYMENT 0000 00-00-00 ST LINE 05/00 11,400.00 3,420.00 2,280.00
ELEC EQUIP - XXXXX XXXXXXXX 0000 00-00-00 ST LINE 05/00 1,110.00 333.00 222.00
ELEC EQUIP - BOARD HOLDER 0000 00-00-00 ST LINE 05/00 1,500.00 450.00 300.00
ELEC EQUIP - HEPCO PREP SET 0000 00-00-00 ST LINE 05/00 2,645.00 793.50 529.00
ELEC EQUIP - GENRAD PCB TEST (FINAL PAY) 0000 00-00-00 ST LINE 05/00 7,600.00 2,280.00 1,520.00
ELEC EQUIP - MULTI-MOD(FINAL PAYMENT) 0000 00-00-00 ST LINE 05/00 12,500.00 3,750.00 2,500.00
ELEC EQUIP - VCD SURFACE MOUNT MACHINE 0000 00-00-00 ST LINE 05/00 33,000.00 9,900.00 6,600.00
ELEC EQUIP - DISPENSOR 0000 00-00-00 ST LINE 05/00 10,000.00 3,000.00 2,000.00
ELEC EQUIP - SEQUENCER 0000 00-00-00 ST LINE 05/00 24,000.00 7,200.00 4,800.00
ELEC EQUIP - O TEST INC. 0000 00-00-00 ST LINE 05/00 1,250.00 375.00 250.00
ELEC EQUIP - ADJ., FRT TO CAP (LINE ITEM 22) 0000 00-00-00 ST LINE 05/00 3,974.00 1,192.20 794.80
CAPITILIZED SALES TAX 0000 00-00-00 ST LINE 05/00 14,552.00 4,365.60 2,910.40
ELEC EQUIP - FHP 4000 W/FEEDERS 0000 00-00-00 ST LINE 05/00 25,000.00 7,500.00 5,000.00
ELEC EQUIP - BGK REFLOW OVEN 0000 00-00-00 ST LINE 05/00 10,000.00 3,000.00 2,000.00
ELEC EQUIP - COMPUTER ACCESSORIES 0000 00-00-00 ST LINE 05/00 1,327.22 398.24 265.49
ELEC EQUIP - BURN-IN ROOM 0000 00-00-00 ST LINE 05/00 2,774.02 832.36 554.91
------------------------------------------------------------------------------------------------------------------------------------
ELEC EQUIP - ADJ., SALE OF MACHINE 0000 00-00-00 ST LINE 05/00 1,500.00 120.31 240.62
------------------------------------------------------------------------------------------------------------------------------------
ELEC EQUIP - AIR COMPRESSOR 0000 00-00-00 ST LINE 05/00 2,495.00 200.12 400.23
ELEC EQUIP - OSCILLOSCOPE 0000 00-00-00 ST LINE 05/00 2,846.37 228.30 456.59
ELEC EQUIP - ADDITIONAL COMPUTER MEMORY 0000 00-00-00 ST LINE 05/00 608.00 48.77 97.53
ELEC EQUIP - PARTS SCALE 0000 00-00-00 ST LINE 05/00 850.00 68.18 136.35
ELEC EQUIP - 2-ZOOM STEREO MICROSCOPES 0000 00-00-00 ST LINE 05/00 1,855.00 148.78 297.57
- LOOSE PARTS FEEDER 0000 00-00-00 ST LINE 05/00 1,321.30 134.89 269.78
- LEAD PROCESSOR 0000 00-00-00 ST LINE 05/00 810.90 82.78 165.57
- REEL HOLDER 0000 00-00-00 ST LINE 05/00 115.00 11.74 23.48
- HP LASER JET PRINTER 0000 00-00-00 ST LINE 05/00 1,546.54 157.88 315.77
- CONTACT SERVICE CALL 0000 00-00-00 ST LINE 05/00 1,200.00 122.51 245.01
- AVEX 0000 00-00-00 ST LINE 05/00 700.00 71.46 142.92
- NU/ERA WAVE SOLDER MACHINE - COP #1 1515 05-31-94 ST LINE 05/00 39,112.40 3,992.91 7,985.80
- QUAD SCREEN PRINTER - COP #2 0000 00-00-00 ST LINE 05/00 38,417.78 3,921.99 7,843.98
- WORK STATIONS AND SLIDE-LINE - COP #3 1515 05-31-94 ST LINE 05/00 7,347.17 750.06 1,500.12
- INCLINE FEEDER CONVEYOR - COP #4 1515 05-31-94 ST LINE 05/00 3,617.80 369.33 738.67
- CM5000 WAVE UNLOAD BELT - COP #4 1515 05-31-94 ST LINE 05/00 6,000.00 612.53 1,225.06
- Q CORP MASS LEAD TRIMMER 0000 00-00-00 ST LINE 05/00 1,060.00 106.01 212.02
-----------------------------------------------------------------------------------------------------------------------------------
ASSET ACC DEPR WRITE CURRENT ACC DEPR WRITE CURRENT
NO. DESCRIPTION 12-31-95 OFF DEPR. 12-31-96 OFF DEPR.
-----------------------------------------------------------------------------------------------------------------------------------
ELECTRIC WORK 2,904.39 449.60 3,353.99 321.15
EASTERN ELEC - CONVEYOR SYSTEM 3,025.80 312.48 3,338.28 187.49
EASTERN ELEC - WAVE SOLDERER $14,306.40 $1,477.44 15,783.84 $(18,000.00) (6,313.54)
EASTERN ELEC - WAVE SOLDER 15,895.98 1,641.61 17,537.59 984.96
EASTERN ELEC - PREP EQUIPMENT 715.32 73.87 789.19 44.32
REFLOW OVEN 10,905.44 1,126.22 12,031.66 675.74
POWER SUPPLY 752.60 77.76 830.36 46.66
WAVE SOLDER CONNECTION 9,597.26 991.10 10,588.36 594.66
MULTIMOD(DOWN PAYMENT) 9,935.00 1,026.00 10,961.00 615.60
AIR COMPRESSOR TANK 2,102.19 217.12 2,319.41 130.28
BUILDING SUPPLIES 59.54 8.96 68.50 5.39
CONVEYORS AND FEEDERS 5,567.52 574.99 6,142.51 345.00
GENRAD PC BOARD TESTER - DOWN PAYMENT 5,700.00 2,280.00 7,980.00 2,280.00
ELEC EQUIP - XXXXX XXXXXXXX 555.00 222.00 777.00 222.00
ELEC EQUIP - BOARD HOLDER 750.00 300.00 1,050.00 300.00
ELEC EQUIP - HEPCO PREP SET 1,322.50 529.00 1,851.50 529.00
ELEC EQUIP - GENRAD PCB TEST (FINAL PAY) 3,800.00 1,520.00 5,320.00 1,520.00
ELEC EQUIP - MULTI-MOD(FINAL PAYMENT) 6,250.00 2,500.00 8,750.00 2,500.00
ELEC EQUIP - VCD SURFACE MOUNT MACHINE 16,500.00 6,600.00 23,100.00 6,600.00
ELEC EQUIP - DISPENSOR 5,000.00 2,000.00 7,000.00 2,000.00
ELEC EQUIP - SEQUENCER 12,000.00 4,800.00 16,800.00 4,800.00
ELEC EQUIP - O TEST INC. 625.00 250.00 875.00 250.00
ELEC EQUIP - ADJ., FRT TO CAP (LINE ITEM 22) 1,987.00 794.80 2,781.80 794.80
CAPITILIZED SALES TAX 7,276.00 2,910.40 10,186.40 2,910.40
ELEC EQUIP - FHP 4000 W/FEEDERS 12,500.00 5,000.00 17,500.00 5,000.00
ELEC EQUIP - BGK REFLOW OVEN 5,000.00 2,000.00 7,000.00 2,000.00
ELEC EQUIP - COMPUTER ACCESSORIES 663.73 265.44 929.17 265.44
ELEC EQUIP - BURN-IN ROOM 1,387.27 554.80 1,942.07 554.80
-----------------------------------------------------------------------------------------------------------------------------------
ELEC EQUIP - ADJ., SALE OF MACHINE 360.93 300.00 660.93 300.00
-----------------------------------------------------------------------------------------------------------------------------------
ELEC EQUIP - AIR COMPRESSOR 600.35 499.00 1,099.35 499.00
ELEC EQUIP - OSCILLOSCOPE 684.89 569.27 1,254.16 569.27
ELEC EQUIP - ADDITIONAL COMPUTER MEMORY 146.30 121.60 267.90 121.60
ELEC EQUIP - PARTS SCALE 204.53 170.00 374.53 170.00
ELEC EQUIP - 2-ZOOM STEREO MICROSCOPES 446.35 371.00 817.35 371.00
- LOOSE PARTS FEEDER 399.69 264.26 663.95 264.26
- LEAD PROCESSOR 245.30 162.18 407.48 162.18
- REEL HOLDER 34.79 23.00 57.79 23.00
- HP LASER JET PRINTER 467.83 309.31 777.14 309.31
- CONTACT SERVICE CALL 363.00 240.00 603.00 240.00
- AVEX 211.75 140.00 351.75 140.00
- NU/ERA WAVE SOLDER MACHINE - COP #1 11,831.47 7,822.48 19,653.95 7,822.48
- QUAD SCREEN PRINTER - COP #2 11,621.35 7,683.56 19,304.91 7,683.56
- WORK STATIONS AND SLIDE-LINE - COP #3 2,222.51 1,469.43 3,691.94 1,469.43
- INCLINE FEEDER CONVEYOR - COP #4 1,094.38 723.56 1,817.94 723.56
- CM5000 WAVE UNLOAD BELT - COP #4 1,815.00 1,200.00 3,015.00 1,200.00
- Q CORP MASS LEAD TRIMMER 318.04 212.00 530.04 212.00
-----------------------------------------------------------------------------------------------------------------------
ASSET ACC DEPR WRITE CURRENT ACC DEPR BOOK
NO. DESCRIPTION 35795 OFF DEPR. 36160 VALUE
-----------------------------------------------------------------------------------------------------------------------
ELECTRIC WORK 3,675.14 802.86 0.00 4,478.00 0.00
EASTERN ELEC - CONVEYOR SYSTEM 3,525.77 281.23 0.00 3,807.00 0.00
EASTERN ELEC - WAVE SOLDERER 0.00 0.00 0.00 0.00
EASTERN ELEC - WAVE SOLDER 18,522.55 1,477.45 0.00 20,000.00 0.00
EASTERN ELEC - PREP EQUIPMENT 833.51 66.49 0.00 900.00 0.00
REFLOW OVEN 12,707.40 1,013.60 0.00 13,721.00 0.00
POWER SUPPLY 877.02 69.96 0.00 947.00 0.00
WAVE SOLDER CONNECTION 11,183.02 891.96 0.00 12,075.00 0.00
MULTIMOD(DOWN PAYMENT) 11,576.60 923.40 0.00 12,500.00 0.00
AIR COMPRESSOR TANK 2,449.59 195.41 0.00 2,645.00 0.00
BUILDING SUPPLIES 73.91 8.09 0.00 82.00 0.00
CONVEYORS AND FEEDERS 6,487.51 517.49 0.00 7,005.00 0.00
GENRAD PC BOARD TESTER - DOWN PAYMENT 10,260.00 1,140.00 11,400.00 0.00
ELEC EQUIP - XXXXX XXXXXXXX 999.00 111.00 1,110.00 0.00
ELEC EQUIP - BOARD HOLDER 1,350.00 150.00 1,500.00 0.00
ELEC EQUIP - HEPCO PREP SET 2,380.50 264.50 2,645.00 0.00
ELEC EQUIP - GENRAD PCB TEST (FINAL PAY) 6,840.00 760.00 7,600.00 0.00
ELEC EQUIP - MULTI-MOD(FINAL PAYMENT) 11,250.00 1,250.00 12,500.00 0.00
ELEC EQUIP - VCD SURFACE MOUNT MACHINE 29,700.00 3,300.00 33,000.00 0.00
ELEC EQUIP - DISPENSOR 9,000.00 1,000.00 10,000.00 0.00
ELEC EQUIP - SEQUENCER 21,600.00 2,400.00 24,000.00 0.00
ELEC EQUIP - O TEST INC. 1,125.00 125.00 1,250.00 0.00
ELEC EQUIP - ADJ., FRT TO CAP (LINE ITEM 22) 3,576.60 397.40 3,974.00 0.00
CAPITILIZED SALES TAX 13,096.80 1,455.20 14,552.00 0.00
ELEC EQUIP - FHP 4000 W/FEEDERS 22,500.00 2,500.00 25,000.00 0.00
ELEC EQUIP - BGK REFLOW OVEN 9,000.00 1,000.00 10,000.00 0.00
ELEC EQUIP - COMPUTER ACCESSORIES 1,194.61 132.60 1,327.22 0.00
ELEC EQUIP - BURN-IN ROOM 2,496.87 277.14 2,774.02 0.00
-----------------------------------------------------------------------------------------------------------------------
ELEC EQUIP - ADJ., SALE OF MACHINE 960.93 239.07 300.00 1,260.93 0.00
-----------------------------------------------------------------------------------------------------------------------
ELEC EQUIP - AIR COMPRESSOR 1,598.35 499.00 2,097.35 397.65
ELEC EQUIP - OSCILLOSCOPE 1,823.43 569.27 2,392.71 453.66
ELEC EQUIP - ADDITIONAL COMPUTER MEMORY 389.50 121.60 511.10 96.90
ELEC EQUIP - PARTS SCALE 544.53 170.00 714.53 135.47
ELEC EQUIP - 2-ZOOM STEREO MICROSCOPES 1,188.35 371.00 1,559.35 295.65
- LOOSE PARTS FEEDER 928.21 264.26 1,192.47 128.83
- LEAD PROCESSOR 569.66 162.18 731.84 79.06
- REEL HOLDER 80.79 23.00 103.79 11.21
- HP LASER JET PRINTER 1,086.45 309.31 1,395.75 150.79
- CONTACT SERVICE CALL 843.00 240.00 1,083.00 117.00
- AVEX 491.75 140.00 631.75 68.25
- NU/ERA WAVE SOLDER MACHINE - COP #1 27,476.43 7,822.48 35,298.91 3,813.49
- QUAD SCREEN PRINTER - COP #2 26,988.46 7,683.56 34,672.03 3,745.76
- WORK STATIONS AND SLIDE-LINE - COP #3 5,161.35 1,469.43 6,630.81 716.36
- INCLINE FEEDER CONVEYOR - COP #4 2,541.50 723.56 3,265.06 352.74
- CM5000 WAVE UNLOAD BELT - COP #4 4,215.00 1,200.00 5,415.00 585.00
- Q CORP MASS LEAD TRIMMER 742.04 212.00 954.04 105.96
ACCUMULATED DEPRECIATION ACCT = 1545-0000
