8-K

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange of 1934

Date of Report (Date of Earliest Event Reported): May 16, 2006

TELEVIDEO, INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware	000-11552	94-2383795
(State or Other Jurisdiction of Incorporation)	(Commission File No.)	(IRS. Employer Identification No.)

2345 Harris Way, San Jose, California 95131
(Address of Principal Executive Office) (Zip Code)

Registrant’s Telephone Number, Including Area Code: (408) 954-8333

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01.  Other Events

On May 16, 2006, the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) entered an order approving the disclosure statement filed by TeleVideo, Inc. (“TeleVideo” or the “Company”) and related procedural matters.

On May 22, 2006, the Company filed an operating report for April 2006 (the “Operating Report”) with the Bankruptcy Court. A copy of the Operating Report is filed as an exhibit to this Currrent Report on Form 8-K.

The Company cautions readers not to place undue reliance upon the information contained in the Operating Report, which contains unaudited information and is in the format required by applicable bankruptcy laws. The Operating Report is not prepared in accordance with generally accepted accounting principles and does not provide the information relating to the Company’s financial condition or operating results that would be included in financial statements or reports prepared pursuant to the Securities Exchange Act of 1934.

The Operating Report and other communications with the Bankruptcy Court may include forward-looking statements subject to various assumptions about the Company’s operating performance that may not be realized and subject to significant uncertainties and contingencies. Consequently, such matters should not be regarded as indicative of the Company’s future financial condition or operating results. Actual results for such periods may differ materially from the information contained in the Operating Report and the Company undertakes no obligation to update or revise the Operating Report.

In addition, readers are cautioned that the Company has filed a Plan of Reorganization with the Bankruptcy Court that provides for the cancellation of all shares of the Company’s outstanding capital stock upon the effective date of that plan.

Item 9.01. Financial Statements and Exhibits.

   (d) Exhibits.

Exhibit Number	Description
99.1	Operating Report for April 2006

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: May 26, 2006	TELEVIDEO, INC.
		By:	/s/  K. Philip Hwang
		Name:	K. Philip Hwang
		Title:	Chief Executive Officer

2

EXHIBIT INDEX

Exhibit No.	Description
99.1	Operating Report for April 2006

3

EX-99.1

Exhibit 99.1

In re TeleVideo, Inc.	Case No.   06-10242(KG)
Debtor	Reporting Period:   April 1 - 30, 2006

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be from the debtor’s books and not the bank statement. The beginning cash should be the ending cash from the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. Attach copies of the bank statements and the cash disbursements journal. The total disbursements listed in the disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each account. [See MOR-1 (CON’T)]

	BANK ACCOUNTS					CURRENT MONTH		CUMULATIVE FILING TO DATE			Prev. Month
	OPER		PAYROLL	TAX	OTHER	ACTUAL	PROJECTED	ACTUAL		PROJECTED
CASH BEGINNING OF MONTH	103,093				628,313	731,406		730,100			730,100			Beg. Bal.
Adjustment for previous balance	10					10		(22,077	)		(22,087	)
Adjusted beginning balance	103,103		—	—	628,313	731,416	—	708,023		—	708,013
RECEIPTS
CASH SALES						—		—			—
ACCOUNTS RECEIVABLE	132,295				27,931	160,226		243,823			83,597
LOANS AND ADVANCES						—		—			—
SALE OF ASSETS						—		—			—
OTHER (ATTACH LIST) - Interest income			—	—				367			367
TRANSFERS (FROM DIP ACCTS)	—		42,820		75,000	117,820		171,178			53,358
TOTAL RECEIPTS	132,295		42,820	—	102,931	278,046	—	415,368		—	137,322		—
DISBURSEMENTS
NET PAYROLL			30,020			30,020		58,522			28,502
PAYROLL TAXES			12,800			12,800		29,771			16,971
SALES, USE, & OTHER TAXES	137					137		137			—
INVENTORY PURCHASES	—					—		140			140
SECURED/ RENTAL/ LEASES	10,638					10,638		11,276			638
INSURANCE	37					37		16,534			16,497
ADMINISTRATIVE	7,564					7,564		8,715			1,151
SELLING	13,183					13,183		17,740			4,557
OTHER (ATTACH LIST)-Bank fees	1,401				206	1,607		1,607			—
OWNER DRAW *						—		—			—
TRANSFERS (TO DIP ACCTS)	117,820					117,820		163,293			45,473
PROFESSIONAL FEES	3,044					3,044		3,044			—
U.S. TRUSTEE QUARTERLY FEES	500					500		500			—
COURT COSTS	4,335					4,335		4,335			—
TOTAL DISBURSEMENTS	158,659		42,820	—	206	201,685		315,614			113,929
NET CASH FLOW (RECEIPTS LESS DISBURSEMENTS)	(26,364	)	—	—	102,725	76,361		99,754			23,393
CASH - END OF MONTH	76,739		—	—	731,038	807,777	—	807,777		—	731,406

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL COLUMN)

TOTAL DISBURSEMENTS	201,685
LESS:  TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS	(117,820	)
PLUS:  ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts)	—
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES	83,865

FORM MOR-1 (10/00)

Quarterly disbursements:	$	86,865.00	Apr-06	86,865
Trustee Fee:	$	750.00	May-06	—
			Jun-06	—
			Total Q2 06	86,865

Total Disbursements greater than:	UST Quarterly Fee
—	250
15,000.00	500
74,999.99	750
149,999.99	1,250
224,999.99	1,500
299,999.99	3,750
999,999.99	5,000

The amount of the fee varies depending upon the amount of monies disbursed from the estate during any calendar quarter (or fraction thereof); however, a minimum fee of $250.00 is due each quarter even if no disbursements are made. The fee schedule is as follows:

FEE SCHEDULE

TOTAL QUARTERLY DISBURSEMENTS				QUARTERLY FEE
Less than $15,000.00				$	250
$15,000.00		-	$74,999.99	$	500
$75,000.00		-	$149,999.99	$	750
$150,000.00		-	$224,999.99	$	1,250
$225,000.00		-	$299,999.99	$	1,500
$300,000.00		-	$999,999.99	$	3,750
$1,000,000.00		-	$1,999,999.99	$	5,000
$2,000,000.00		-	$2,999,999.99	$	7,500
$3,000,000.00		-	$4,999,999.99	$	8,000
$5,000,000.00	and above			$	10,000

Fee payments are due no later than one (1) month following the end of each quarter. The amount of the fees owed is substantiated through the filing of monthly financial reports reflecting disbursements made by the debtor during a particular quarter and is set forth on a bill transmitted from the Executive Office for the United States Trustees. In order for a plan to be confirmed, all quarterly fees must be paid, or the plan must provide for payment of all fees on the effective date of the plan. 11 U.S.C. Section 1129(a)(12).

Quarterly fees must be mailed with the proper transmittal form to:

United States Trustee

Post Office Box 198246

Atlanta, Georgia 30384

If the debtor does not have the proper form, or does not timely receive a bill for quarterly fees from the Executive Office for the United States Trustee, the debtor must contact the Office of the United States Trustee immediately.

In re TeleVideo, Inc.	Case No. 06-10242(KG)
Debtor
	Reporting Period: April 1 - 30, 2006

BANK RECONCILIATIONS

Continuation Sheet for MOR-1

A bank reconciliation must be included for each bank account. The debtor’s bank reconciliation may be substituted for this page.

	Operating		Payroll	Tax	Other
	#65-025249-70		#65-025231-70	#	#773-016530
BALANCE PER BOOKS
BANK BALANCE	80,254				731,039
(+) DEPOSITS IN TRANSIT(ATTACH LIST)	1,157
(-) OUTSTANDING CHECKS(ATTACH LIST): e.g. (1,000)	(4,671	)
OTHER (ATTACH EXPLANATION)
ADJUSTED BANK BALANCE *	76,740		—	—	731,039

*“Adjusted Bank Balance” must equal “Balance per Books”

DEPOSITS IN TRANSIT	Date	Amount	Date	Amount
Credit Card not posted - #10278 ARNELLINI INDUSTRIES	4/28/2006	40
Credit Card not posted - #10277 CNT MICROSYSTEMS	4/28/2006	837
Credit Card not posted - #10034 VA MEDICAL CENTER KANSAS	4/28/2006	280
	Total	1,157

CHECKS OUTSTANDING	Ck. #	Amount	Ck. #	Amount
California Chamber of Commerce	17150	314
Associated Services CO.	17281	83
Choi, Peter Cap	17288	1,380
UPS	17297	20
Universal Travel Services	17298	1,449
FedEX	17299	592
NEC Financial Services	17300	638
SBC California	17301	87
SBC Long Distance	17302	108
	Total	4,671

OTHER

STATEMENT OF OPERATIONS

(Income Statement)

The Statement of Operations is to be prepared on an accrual basis. The accrual basis of accounting recognizes revenue when it is realized and expenses when they are incurred, regardless of when cash is actually received or paid.

REVENUES	Month		Cumulative Filing to Date		Prev. Month
Gross Revenues	166,608		245,826		79,218
Less: Returns and Allowances			—
Net Revenue	166,608		245,826		79,218
COST OF GOODS SOLD
Beginning Inventory	714,500		1,462,834		748,334
Add: Purchases	176		3,196		3,020
Add: Cost of Labor	17,816		37,968		20,152
Add: Other Costs (attach schedule)	5,960		8,201		2,241
Less: Ending Inventory	(623,487	)	(1,337,987	)	(714,500	)
Cost of Goods Sold	114,965		174,212		59,247
Gross Profit	51,643		71,614		19,971
OPERATING EXPENSES
Advertising	—		—		—
Auto and Truck Expense	433		433
Bad Debts			—
Contributions			—
Employee Benefits Programs	522		522		—
Insider Compensation*			—
Insurance	(1,505	)	7,153		8,658
Management Fees/Bonuses			—
Office Expense	2,222		18,673		16,451
Pension & Profit-Sharing Plans	1,045		2,090		1,045
Repairs and Maintenance	—		—
Rent and Lease Expense	10,638		11,276		638
Salaries/Commissions/Fees	30,571		47,090		16,519
Supplies	1,761		1,761		—
Taxes - Payroll	1,971		4,844		2,873
Taxes - Real Estate	—		—
Taxes - Other	—		—
Travel and Entertainment	6,994		11,621		4,627
Utilities	2,481		4,934		2,453
Other (attach schedule)	—		26		26
Total Operating Expenses Before Depreciation	57,133		110,423		53,290
Depreciation/Depletion/Amortization	1,922		3,870		1,948
Net Profit (Loss) Before Other Income & Expenses	(7,412	)	(42,679	)	(35,267	)
OTHER INCOME AND EXPENSES
Other Income(attach schedule) — Rental Income (14650) + Int. Inc. (1068)	15,718		17,272		1,554
Interest Expense	(16,099	)	(32,144	)	(16,045	)
Other Expense (attach schedule)	—		(61	)	(61	)
Net Profit (Loss) Before Reorganization Items	(7,793	)	(57,612	)	(49,819	)
REORGANIZATION ITEMS
Professional Fees	(14,620	)	(14,620	)	—
U. S. Trustee Quarterly Fees	—		—		—
Interest Earned on Accumulated Cash from Chapter 11(see continuation sheet)	—		—		—
Gain (Loss) from Sale of Equipment	—		—		—
Other Reorganization Expenses(attach schedule)	—		—		—
Total Reorganization Expenses	(14,620	)	(14,620	)	—
Income Taxes	—		—		—
Net Profit (Loss)	(22,413	)	(72,232	)	(49,819	)

*“Insider” is defined in 11 U.S.C. Section 101(31).

BALANCE SHEET

The Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be classified separately from post-petition obligations.

ASSETS	BOOK VALUE AT END OF CURRENT REPORTING MONTH		BOOK VALUE ON PETITION DATE
CURRENT ASSETS
Unrestricted Cash and Equivalents	808,779
Restricted Cash and Cash Equivalents (see continuation sheet)
Accounts Receivable (Net)	194,040
Notes Receivable	200,000
Inventories	623,487
Prepaid Expenses
Professional Retainers
Other Current Assets(attach schedule)
TOTAL CURRENT ASSETS	1,826,306
PROPERTY AND EQUIPMENT
Real Property and Improvements
Machinery and Equipment	11,445
Furniture, Fixtures and Office Equipment	7,039
Leasehold Improvements
Vehicles	105,421
Less:Accumulated Depreciation	(81,738	)
TOTAL PROPERTY & EQUIPMENT	42,167
OTHER ASSETS
Loans to Insiders*
Other Assets (attach schedule)	305,603
TOTAL OTHER ASSETS	305,603
TOTAL ASSETS	2,174,076

LIABILITIES AND OWNER EQUITY	BOOK VALUE AT END OF CURRENT REPORTING MONTH		BOOK VALUE ON PETITION DATE
LIABILITIES NOT SUBJECT TO COMPROMISE (Postpetition)
Accounts Payable	48,550
Taxes Payable (refer to FORM MOR-4)	11
Wages Payable	76,559
Notes Payable	—
Rent / Leases - Building/Equipment
Secured Debt / Adequate Protection Payments	—
Professional Fees
Amounts Due to Insiders*
Other Post-petition Liabilities(attach schedule) - Warranty Accrual	39,501
TOTAL POST-PETITION LIABILITIES	164,621
LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition)
Secured Debt	2,254,673
Priority Debt	250
Unsecured Debt	428,569
TOTAL PRE-PETITION LIABILITIES	2,683,492
TOTAL LIABILITIES	2,848,113
OWNER EQUITY
Capital Stock	453,357
Additional Paid-In Capital	95,735,425
Partners’ Capital Account
Owner’s Equity Account
Retained Earnings - Pre-Petition	(96,790,588	)
Retained Earnings - Post-petition	(72,231	)
Adjustments to Owner Equity(attach schedule)
Post-petition Contributions(attach schedule)
NET OWNERS’ EQUITY	(674,037	)
TOTAL LIABILITIES AND OWNERS’ EQUITY	2,174,076

* “Insider” is defined in 11 U.S.C. Section 101(31).	FORM MOR-3
	(10/00)

ASSETS	BOOK VALUE AT END OF CURRENT REPORTING MONTH	BOOK VALUE ON PETITION DATE
Other Current Assets
Other Assets
Neoware Escrow	304,535

LIABILITIES AND OWNER EQUITY	BOOK VALUE AT END OF CURRENT REPORTING MONTH	BOOK VALUE ON PETITION DATE
Other Post-petition Liabilities
Adjustments to Owners’ Equity
Post-petition Contributions

Restricted Cash:

Cash that is restricted for a specific use and not available to fund operations. Typically, restricted cash is segregated into a separate account, such as an escrow account.

STATUS OF POST-PETITION TAXES

The beginning tax liability should be the ending liability from the prior month or, if this is the first report, the amount should be zero. Attach photocopies of IRS Form 6123 or payment receipt to verify payment or deposit of federal payroll taxes. Attach photocopies of any tax returns filed during the reporting period.

	Beginning	Amount				Ending
	Tax	Withheld or	Amount	Date	Check No.	Tax
	Liability	Accrued	Paid	Paid	or EFT	Liability
Federal
Withholding
FICA-Employee	—	7,876	7,876	14,28/04/2006		—
FICA-Employer	—	3,184	3,184	14,28/04/2006		—
Unemployment	—	—	—			—
Income						—
Other:						—
Total Federal Taxes	—	11,059	11,059			—
State and Local
Withholding
Sales	387	11	137	4/20/2006		261
Excise						—
Unemployment/Disability	—	329	329	14,28/04/2006		—
Real Property						—
Personal Property						—
Other: California Payroll Tax	—	1,401	1,401	14,28/04/2006		—
Total State and Local	387	1,741	1,867			261
Total Taxes	387	12,800	12,926	—	—	261

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING

	Amount
Accounts Receivable Reconciliation
Total Accounts Receivable at the beginning of the reporting period	195,295
Plus: Amounts billed during the period	176,173
Less: Amounts collected during the period	(145,667	)
Total Accounts Receivable at the end of the reporting period	225,801
	Amount
Accounts Receivable Aging
0 - 30 days old	156,985
31 - 60 days old	19,245
61 - 90 days old	4,660
91+ days old	44,911
Total Accounts Receivable	225,801
Less: Bad Debts (Amount considered uncollectible)	(31,761	)
Net Accounts Receivable	194,040

DEBTOR QUESTIONNAIRE

	Yes	No
Must be completed each month
1. Have any assets been sold or transferred outside the normal course of business this reporting period? If yes, provide an explanation below.		ý
2. Have any funds been disbursed from any account other than a debtor in possession account this reporting period? If yes, provide an explanation below.		ý
3. Have all post-petition tax returns been timely filed? If no, provide an explanation below.	ý
4. Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below.	ý

SUMMARY OF UNPAID POST-PETITION DEBTS

Attach aged listing of accounts payable.

		Number of Days Past Due
	Current	0-30	31-60	61-90	Over 91	Total
Accounts Payable	48,220					48,220
Wages Payable	18,992					18,992
Taxes Payable	11					11
Rent/Leases-Building						—
Rent/Leases-Equipment	—					—
Secured Debt/Adequate Protection Payments	—					—
Professional Fees	—					—
Amounts Due to Insiders	—					—
Other:	—					—
Other:	—					—
Total Post-petition Debts	67,223	—	—	—	—	67,223

Explain how and when the Debtor intends to pay any past due post-petition debts.

Nothing is past due.

FORM MOR-4

(10/00)