UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) January 5, 2006
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GSE SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation or organization)
0-26494 52-1868008
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(Commission File Number) (I.R.S. Employer Identification No.)
7133 Rutherford Rd., Suite 200, Baltimore, MD 21244
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(Address of principal executive office and zip code)
(410) 277-3740
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Registrant's telephone number, including area code
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation or the registrant under any of the
following provisions (see General Instructions A.2 below):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d - 2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e - 4 (c))
Item 1.01 Entering into a Material Definitive
On January 3, 2006, the Company received a material contract from the
Emirates Simulation Academy, LLC, located in the United Arab Emirates. The
contract value is approximately $15 million and is for five real-time, high
fidelity training simulators including a gas turbine power plant simulator, a
desalination plant simulator, a combined cycle plant simulator, a petroleum
refinery simulator and an oil platform simulator. In addition, GSE will develop
the training programs associated with the simulators, as well as the development
of traditional classroom and online training content.
The Emirates Simulation Academy, LLC is a three party venture that includes
Al Qudra Holding PJSC (Al Qudra) of the United Arab Emirates, the Centre of
Excellence for Applied Research and Training (CERT) of the United Arab Emirates
and GSE.
Item 9.01 Financial Statements and Exhibits
(c) Exhibits
99.1 Press Release of GSE Systems dated January 5, 2006
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
GSE SYSTEMS, INC.
Date: January 6, 2006 /s/ Jeffery G. Hough
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Jeffery G. Hough
Senior Vice President and CFO
EXHIBIT INDEX
Exhibit No. Description
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99.1 Press release of GSE Systems, Inc. dated January 5, 2006