----

| x | QUARTERLY      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|---|---------------------------------------------------------------------------------------------------|

| ¨ | TRANSITION      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|--------|----------------------------------------------------------------------------------------------------|

| Delaware                                                            | 95-4172359                                  |
|---------------------------------------------------------------------|---------------------------------------------|
| (State      or Other Jurisdiction of Incorporation or Organization) | (I.      R. S. Employer Identification No.) |
|                                                                |                                        |
| 127      West 30th      Street, 5th      FloorNew      York, NY     |  10001                                 |
| (Address      of Principal Executive Offices)                       | (Zip      Code)                             |
|                                                                |
| 1      (212) 594-4800                                               |
| (Registrant's      Telephone Number, Including Area Code)           |
|                                                                |

----

| PART      I    FINANCIAL INFORMATION |
|----------------------------------------------------------|
|                                                     |   |
| Item 1.                                                  | Financial Statements |
|                                                     |   |
|                                                     | Condensed Consolidated Balance Sheets as of March 31,      2008 (Unaudited) and December 31, 2007 |
|                                                     |   |
|                                                     | Condensed Consolidated Statements of Operations      for the Three Months Ended March 31, 2008 and 2007      (Unaudited) |
|                                                     |   |
|                                                     | Condensed Consolidated Statements of Cash Flows for the      Three Months Ended March 31, 2008 and 2007  (Unaudited) |
|                                                     |   |
|                                                     | Notes to Condensed Consolidated Financial Statements      (Unaudited) |
|                                                     |   |
| Item 2.                                                  | Management’s Discussion and Analysis of Financial Condition      and Results of Operations |
|                                                     |   |
| Item 3.                                                  | Quantitative and Qualitative Disclosures About Market      Risk |
|                                                     |   |
| Item 4.                                                  | Controls and Procedures |
|                                                     |
| PART      II    OTHER INFORMATION    |
|                                                     |   |
| Item 1.                                                  | Legal Proceedings |
|                                                     |   |
| Item 6.                                                  | Exhibits |
|                                                     |   |
|                                                     | SIGNATURES |

----

| ·   | the      implementation of the Company’s business strategies and    goals; |
|--------------------|----------------------------------------------------------------------------------|

| ·   | the      integration of past and futureacquisitions; |
|--------------------|------------------------------------------------------|

| ·   | the      Company’s dependence on its senior management and key personnel and its      ability to attract and retain additional qualified    personnel; |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | the      Company’s ability to expand its business, through, among other things,      future acquisitions; |
|--------------------|-----------------------------------------------------------------------------------------------------------------|

| ·   | a      deterioration in general economicconditions; |
|--------------------|-----------------------------------------------------|

| ·   | competitive      pricing and other competitive pressures in the graphic image arts      industry; |
|--------------------|---------------------------------------------------------------------------------------------------|

| ·   | changes      in technology, resulting inobsolescence; |
|--------------------|-------------------------------------------------------|

| ·   | the      Company’s involvement in litigation as a defendant or its incurring      judgments, fines or legal costs; |
|--------------------|--------------------------------------------------------------------------------------------------------------------------|

| ·   | the      loss of significant customers; and |
|--------------------|---------------------------------------------|

| ·   | other      risks detailed in “Business – Risk Factors” in the Company’s most recent      Annual Report on Form 10-K on file with theSEC. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

Item 1.

MERISEL

|                                                                     |   | March      31, 2008 |    |   | December      31, 2007 |   |
|--------------------------------------------------------------------------|--------|---------------------|---------|--------|------------------------|--------|
| Current      assets:                                                     |   | (Unaudited)         |    |   |                   |   |
| Cash      and cash equivalents                                           |   | $                   | 13,664  |   |                   | $      | 15,254 |   |
| Accounts      receivable, net of allowance of $536 and $478,respectively |   |                | 16,629  |   |                   |   | 17,114 |   |
| Inventories                                                              |   |                | 2,105   |   |                   |   | 2,014 |   |
| Prepaid      expenses and other current assets                           |   |                | 1,445   |   |                   |   | 974 |   |
| Deferred      tax asset, net                                             |   |                | 3,094   |   |                   |   | 3,078 |   |
|   Total      current assets                                    |   |                | 36,937  |   |                   |   | 38,434 |   |
|                                                                     |   |                |    |   |                   |   |   |   |
| Property      and equipment, net                                         |   |                | 8,537   |   |                   |   | 8,435 |   |
|                                                                     |   |                |    |   |                   |   |   |   |
| Restricted      cash                                                     |   |                | 3,222   |   |                   |   | 3,195 |   |
| Other      assets                                                        |   |                | 175     |   |                   |   | 73 |   |
| Intangible      assets, net                                              |   |                | 6,314   |   |                   |   | 6,708 |   |
| Trademarks                                                               |   |                | 10,609  |   |                   |   | 10,609 |   |
| Goodwill                                                                 |   |                | 19,737  |   |                   |   | 19,737 |   |
| Deferred      tax asset, net                                             |   |                | 32,344  |   |                   |   | 31,894 |   |
|                                                                     |   |                |    |   |                   |   |   |   |
| Total      assets                                                        |   | $                   | 117,875 |   |                   | $      | 119,085 |   |

----

|                                                                                                                                                        |   | March      31, 2008 |     |   | December      31, 2007 |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------|----------|--------|------------------------|--------|
|                                                                                                                                                        |   | (Unaudited)              |     |   |                   |   |
| Current      liabilities:                                                                                                                                   |   |                     |     |   |                   |   |
| Accounts      payable                                                                                                                                       |   | $                        | 3,971    |   |                   | $      | 2,229 |   |
| Accrued      liabilities                                                                                                                                    |   |                     | 4,760    |   |                   |   | 6,978 |   |
| Capital      lease obligations, current maturities                                                                                                          |   |                     | 279      |   |                   |   | 340 |   |
| Installment      notes, current maturities                                                                                                                  |   |                     | 426      |   |                   |   | 465 |   |
|   Total      current liabilities                                                                                                                  |   |                     | 9,436    |   |                   |   | 10,012 |   |
|                                                                                                                                                        |   |                     |     |   |                   |   |   |   |
| Note      payable, bank                                                                                                                                     |   |                     | 8,630    |   |                   |   | 8,630 |   |
| Capital      lease obligations, less current maturities                                                                                                     |   |                     | 3        |   |                   |   | 44 |   |
| Installment      notes, less current maturities                                                                                                             |   |                     | 300      |   |                   |   | 410 |   |
| Other      liabilities                                                                                                                                      |   |                     | 705      |   |                   |   | 666 |   |
| Total      liabilities                                                                                                                                      |   |                     | 19,074   |   |                   |   | 19,762 |   |
|                                                                                                                                                        |   |                     |     |   |                   |   |   |   |
| Stockholders’      equity:                                                                                                                            |   |                     |     |   |                   |   |   |   |
| Convertible      preferred stock, $.01 par value, authorized   1,000,000      shares; 267,595 shares issued and   Outstanding |   |                     | 27,841   |   |                   |   | 27,294 |   |
| Common      stock, $.01 par value, authorized 30,000,000   shares;      8,452,723 issued and 8,033,943 outstanding, respectively             |   |                     | 85       |   |                   |   | 85 |   |
| Additional      paid-in capital                                                                                                                             |   |                     | 272,163  |   |                   |   | 272,593 |   |
| Accumulated      deficit                                                                                                                                    |   |                     | (200,414 | )      |                   |   | (199,775 | ) |
| Treasury      stock at cost, 418,780 shares repurchased                                                                                                     |   |                     | (874     | )      |                   |   | (874 | ) |
| Total      stockholders’ equity                                                                                                                       |   |                     | 98,801   |   |                   |   | 99,323 |   |
|                                                                                                                                                        |   |                     |     |   |                   |   |   |   |
| Total      liabilities and stockholders’ equity                                                                                                       |   | $                        | 117,875  |   |                   | $      | 119,085 |   |

----

MERISEL, INC.

|                                                                                          |   | Three      Months Ended March 31, |   |
|-----------------------------------------------------------------------------------------------|--------|----------------------------------------|--------|
|                                                                                          |   | 2008                                   |   |   | 2007 |   |
| Net      sales                                                                                |   | $                                      | 21,352 |   |   | $ | 23,934 |   |
|                                                                                          |   |                                   |   |   |   |   |   |   |
| Cost      of sales                                                                            |   |                                   | 11,965 |   |   |   | 13,205 |   |
|                                                                                          |   |                                   |   |   |   |   |   |   |
| Gross      profit                                                                             |   |                                   | 9,387  |   |   |   | 10,729 |   |
|                                                                                          |   |                                   |   |   |   |   |   |   |
| Selling,      general & administrative expenses                                           |   |                                   | 10,481 |   |   |   | 8,806 |   |
|                                                                                          |   |                                   |   |   |   |   |   |   |
| Operating      income (loss)                                                                  |   |                                   | (1,094 | ) |   |   | 1,923 |   |
|                                                                                          |   |                                   |   |   |   |   |   |   |
| Interest      expense, net                                                                    |   |                                   | 1      |   |   |   | 164 |   |
|                                                                                          |   |                                   |   |   |   |   |   |   |
| Income      (loss) from continuing operations  before provision for income      tax |   |                                   | (1,095 | ) |   |   | 1,759 |   |
|                                                                                          |   |                                   |   |   |   |   |   |   |
| Income      tax (benefit) provision                                                           |   |                                   | (460   | ) |   |   | 753 |   |
|                                                                                          |   |                                   |   |   |   |   |   |   |
| Income      (loss) from continuing operations                                                 |   |                                   | (635   | ) |   |   | 1,006 |   |
|                                                                                          |   |                                   |   |   |   |   |   |   |
| Income      (loss) from discontinued operations, net of taxes                                 |   |                                   | (4     | ) |   |   | 150 |   |
| Net      income (loss)                                                                        |   |                                   | (639   | ) |   |   | 1,156 |   |
| Preferred      stock dividends                                                                |   |                                   | 547    |   |   |   | 504 |   |
| Net      income (loss) available to common stockholders                                       |   | $                                      | (1,186 | ) |   | $ | 652 |   |
|                                                                                          |   |                                   |   |   |   |   |   |   |
| Income      (loss) per share (basic and diluted):                                             |   |                                   |   |   |   |   |   |   |
| Income      (loss) from continuing operations available to common      stockholders           |   | $                                      | (0.15  | ) |   | $ | 0.06 |   |
| Income      from discontinued operations, net of taxes                                        |   |                                   | 0.00   |   |   |   | 0.02 |   |
| Net      income (loss) available to common stockholders                                       |   | $                                      | (0.15  | ) |   | $ | 0.08 |   |
| Weighted      average number of shares                                                        |   |                                   |   |   |   |   |   |   |
|   Basic                                                                             |   |                                   | 7,881  |   |   |   | 7,774 |   |
|   Diluted                                                                           |   |                                   | 7,881  |   |   |   | 7,805 |   |

----

MERISEL,

|                                                                                           |   | Three Months      Ended March 31, |   |
|------------------------------------------------------------------------------------------------|--------|----------------------------------------|--------|
|                                                                                           |   | 2008                                   |   |   | 2007 |   |
| CONTINUING      OPERATIONS                                                                     |   |                                   |   |   |   |   |
| CASH      FLOWS FROM OPERATING ACTIVITIES:                                                     |   |                                   |   |   |   |   |
| Net      income (loss)                                                                         |   | $                                      | (639   | ) |   | $ | 1,156 |   |
| Less:      income (loss) from discontinued operations                                          |   |                                   | (4     | ) |   |   | 150 |   |
| Net      income (loss) from continuing operations                                              |   |                                   | (635   | ) |   |   | 1,006 |   |
| Adjustments      to reconcile net income (loss) to net cash used in operating      activities: |   |                                   |   |   |   |   |   |   |
|   Stock-based      compensation expense                                              |   |                                   | 117    |   |   |   | 198 |   |
|   Deferred      occupancy costs                                                      |   |                                   | 39     |   |   |   | 47 |   |
|   Deferred      income taxes                                                         |   |                                   | (466   | ) |   |   | 565 |   |
|   Depreciation      and amortization                                                 |   |                                   | 1,163  |   |   |   | 1,008 |   |
| Changes      in operating assets and liabilities:                                              |   |                                   |   |   |   |   |   |   |
|   Accounts      receivable                                                           |   |                                   | 485    |   |   |   | 2,378 |   |
|   Inventories                                                                        |   |                                   | (91    | ) |   |   | 347 |   |
|   Prepaid      expenses and other current assets                                     |   |                                   | (573   | ) |   |   | (344 | ) |
|   Restricted      cash                                                               |   |                                   | (27    | ) |   |   | 543 |   |
|   Accounts      payable                                                              |   |                                   | 1,326  |   |   |   | (599 | ) |
|   Accrued      liabilities                                                           |   |                                   | (2,218 | ) |   |   | (1,840 | ) |
| Net      cash provided by (used in) operating activities                                       |   |                                   | (880   | ) |   |   | 3,309 |   |
|                                                                                           |   |                                   |   |   |   |   |   |   |
| CASH      FLOWS FROM INVESTING ACTIVITIES:                                                     |   |                                   |   |   |   |   |   |   |
|   Acquisitions,      net of cash acquired                                            |   |                                   | -      |   |   |   | (639 | ) |
|   Capital      expenditures                                                          |   |                                   | (455   | ) |   |   | (629 | ) |
| Net      cash used in investing activities                                                     |   |                                   | (455   | ) |   |   | (1,268 | ) |
|                                                                                           |   |                                   |   |   |   |   |   |   |
| CASH      FLOWS FROM FINANCING ACTIVITIES:                                                     |   |                                   |   |   |   |   |   |   |
| Capital      lease payments                                                                    |   |                                   | (102   | ) |   |   | (207 | ) |
| Bank      debt repayments                                                                      |   |                                   | (149   | ) |   |   | (51 | ) |
| Net      cash used in financing activities                                                     |   |                                   | (251   | ) |   |   | (258 | ) |
|                                                                                           |   |                                   |   |   |   |   |   |   |
| NET      INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS FROM CONTINUING      OPERATIONS      |   |                                   | (1,586 | ) |   |   | 1,783 |   |
|                                                                                           |   |                                   |   |   |   |   |   |   |
| DISCONTINUED      OPERATIONS                                                                   |   |                                   |   |   |   |   |   |   |
| Cash      provided by (used in) discontinued operations                                        |   |                                   | (4     | ) |   |   | 1,176 |   |
| NET      CASH PROVIDED BY (USED IN) DISCONTINUED OPERATIONS                                    |   |                                   | (4     | ) |   |   | 1,176 |   |
|                                                                                           |   |                                   |   |   |   |   |   |   |
| NET      INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS                                      |   |                                   | (1,590 | ) |   |   | 2,959 |   |
|                                                                                           |   |                                   |   |   |   |   |   |   |
| CASH      AND CASH EQUIVALENTS, BEGINNING OF PERIOD                                            |   |                                   | 15,254 |   |   |   | 6,464 |   |
| CASH      AND CASH EQUIVALENTS, END OF PERIOD                                                  |   | $                                      | 13,664 |   |   | $ | 9,423 |   |

----

|                                              |   | For      the Three Months Ended March 31, |   |
|---------------------------------------------------|--------|-------------------------------------------|--------|
| Cash      paid during the period for:             |   | 2008                                      |   |   | 2007 |   |
|   Income      taxes                     |   | $                                         | 189    |   |   | $ | 110 |   |
|   Interest      expense                 |   |                                      | 209    |   |   |   | 212 |   |
| Non-cash      investing and financing activities: |   |                                      |   |   |   |   |   |   |
|   Preferred      dividends accumulated  |   |                                      | 547    |   |   |   | 504 |   |
|   Capital      Expenditures             |   |                                      | 416    |   |   |   | - |   |

----

MERISEL, 

| 1.   | Description      of Business |
|----------------|------------------------------|

----

| 2.   | Basis      of Presentation |
|----------------|----------------------------|

----

| 3.   | New      Accounting Standards |
|----------------|-------------------------------|

----

| 4.   | Use      of Estimates |
|----------------|-----------------------|

----

| 5.   | Inventories |
|----------------|-------------|

|                          |   | March 31, 2008 |   |   | December 31, 2007 |   |
|-------------------------------|--------|----------------|--------|--------|-------------------|--------|
| Raw      materials            |   | $              | 1,305  |   |              | $      | 1,315 |   |
| Work      in process          |   |           | 804    |   |              |   | 720 |   |
| Reserve      for obsolescence |   |           | (4     | )      |              |   | (21 | ) |
| Total      inventory, net     |   | $              | 2,105  |   |              | $      | 2,014 |   |

| 6.   | Intangibles |
|----------------|-------------|

|                        |   | March 31, 2008 |   |   | December 31, 2007 |   |
|-----------------------------|--------|----------------|--------|--------|-------------------|--------|
| Customer      relationships |   | $              | 3,110  |   |              | $      | 3,170 |   |
| Non-compete      agreements |   |           | 1,715  |   |              |   | 1,919 |   |
| Employee      agreements    |   |           | 497    |   |              |   | 581 |   |
| Trade      know-how         |   |           | 992    |   |              |   | 1,038 |   |
| Total                       |   | $              | 6,314  |   |              | $      | 6,708 |   |

----

| For      the Twelve-Month Period Ended March 31, |   |
|--------------------------------------------------|--------|
|                                             |   | Amount |   |
| 2009                                             |   | $ | 1,580 |   |
| 2010                                             |   |   | 1,360 |   |
| 2011                                             |   |   | 507 |   |
| 2012                                             |   |   | 415 |   |
| 2013                                             |   |   | 413 |   |
| Thereafter                                       |   |   | 2,039 |   |
| Total                                            |   | $ | 6,314 |   |

| 7.   | Accrued      Liabilities |
|----------------|--------------------------|

|                                             |   | March      31, 2008 |   |   | December      31, 2007 |   |
|--------------------------------------------------|--------|---------------------|--------|--------|------------------------|--------|
| Accrued      liabilities:                        |   |                |   |   |                   |   |
| Compensation      and other benefit accruals     |   | $                   | 2,975  |   |                   | $      | 4,376 |   |
| State      and local sales taxes and other taxes |   |                | 181    |   |                   |   | 260 |   |
| Other      accruals                              |   |                | 1,604  |   |                   |   | 2,342 |   |
|   Total      accrued liabilities       |   | $                   | 4,760  |   |                   | $      | 6,978 |   |

| 8.   | Income      Taxes |
|----------------|-------------------|

----

|                                      |   | For      the Three Months Ended March 31, |   |
|-------------------------------------------|--------|-------------------------------------------|--------|
|                                      |   | 2008                                      |   |   | 2007 |   |
|                                      |   |                                      |   |   |   |   |
| Continuing      Operations:               |   |                                      |   |   |   |   |
| Current                                   |   |                                      |   |   |   |   |
| Federal                                   |   | $                                         | -      |   |   | $ | 31 |   |
| State                                     |   |                                      | 6      |   |   |   | 157 |   |
| Total      current provision              |   | $                                         | 6      |   |   | $ | 188 |   |
|                                      |   |                                      |   |   |   |   |   |   |
|                                      |   |                                      |   |   |   |   |   |   |
| Deferred,      net of valuation allowance |   |                                      |   |   |   |   |   |   |
| Federal                                   |   | $                                         | (310   | ) |   | $ | 671 |   |
| State                                     |   |                                      | (156   | ) |   |   | (106 | ) |
| Total      deferred provision             |   | $                                         | (466   | ) |   | $ | 565 |   |
|                                      |   |                                      |   |   |   |   |   |   |
| Total      income tax (benefit) provision |   | $                                         | (460   | ) |   | $ | 753 |   |
|                                      |   |                                      |   |   |   |   |   |   |
|                                      |   |                                      |   |   |   |   |   |   |
|                                      |   | For      the Three Months Ended March 31, |   |
|                                      |   | 2008                                      |   |   | 2007 |   |
|                                      |   |                                      |   |   |   |   |   |   |
| Discontinued      Operations:             |   |                                      |   |   |   |   |   |   |
| Federal                                   |   | $                                         | -      |   |   | $ | 5 |   |
| State                                     |   |                                      | -      |   |   |   | 107 |   |
| Total      provision                      |   | $                                         | -      |   |   | $ | 112 |   |

----

| 9.   | Debt |
|----------------|------|

| 10.   | Discontinued      Operations |
|-----------------|------------------------------|

| 11.   | Commitments      and Contingencies |
|-----------------|------------------------------------|

----

----

| 12.   | Stock-Based      Compensation |
|-----------------|-------------------------------|

|                                                                                                               |   |  Shares |    |   | WeightedAverageExer.      Price |   |
|--------------------------------------------------------------------------------------------------------------------|--------|--------------|---------|--------|---------------------------------|--------|
| Outstanding      at  December      31, 2007                                                              |   |         | 300,000 |   |                            | $      | 8.33 |   |
| Granted                                                                                                            |   |         | -       |   |                            |   | N/A |   |
| Exercised                                                                                                          |   |         | -       |   |                            |   | N/A |   |
| Canceled                                                                                                           |   |         | -       |   |                            |   | N/A |   |
| Outstanding      at  March      31, 2008                                                                 |   |         | 300,000 |   |                            | $      | 8.33 |   |
| Options      exercisable at March 31, 2008                                                                         |   |         | 300,000 |   |                            | $      | 8.33 |   |
| Weighted      average fair value  at date of grant of      options  granted during the quarter |   |         | N/A     |   |                            |   | N/A |   |

----

|                 |                |   | Options      Outstanding |   |    | Options      Exercisable |   |
|----------------------|---------------------|--------|--------------------------|--------|---------|--------------------------|--------|
|                 |                |   |                     |   |    | Weighted                 |   |   |   |   |   |   |   |   |   |   |
|                 |                |   |                     |   |    | Average                  |   |   | Weighted |   |   |   |   |   | Weighted |   |
|                 |                |   | Number                   |   |    | Remaining                |   |   | Average |   |   | Number |   |   | Average |   |
| Range      of        |                |   | Outstanding              |   |    | Life                     |   |   | Exercise |   |   | Exercisable |   |   | Exercise |   |
| Exercise      Prices |                |   | at      3/31/08          |   |    | In      Years            |   |   | Price |   |   | at      3/31/08 |   |   | Price |   |
|                 |                |   |                     |   |    |                     |   |   |   |   |   |   |   |   |   |   |
| $                    | 5.00                |   |                     |   | 100,000 |                     |   |   | 7 |   |   | $ | 5.00 |   |   |   | 100,000 |   |   | $ | 5.00 |   |
| $                    | 8.00                |   |                     |   | 100,000 |                     |   |   | 7 |   |   | $ | 8.00 |   |   |   | 100,000 |   |   | $ | 8.00 |   |
| $                    | 12.00               |   |                     |   | 100,000 |                     |   |   | 7 |   |   | $ | 12.00 |   |   |   | 100,000 |   |   | $ | 12.00 |   |
|                 |                |   |                     |   |    |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| $                    | 5.00      to $12.00 |   |                     |   | 300,000 |                     |   |   |   |   |   | $ | 8.33 |   |   |   | 300,000 |   |   | $ | 8.33 |   |

----

----

|                                       |   | Shares |    |   | Weighted      Average Grant-Date Fair Value |   |
|--------------------------------------------|--------|--------|---------|--------|---------------------------------------------|--------|
| Nonvested      shares at December 31, 2007 |   |   | 173,959 |   |                                        | $      | 4.00 |   |
| Granted                                    |   |   | -       |   |                                        |   | N/A |   |
| Vested                                     |   |   | -       |   |                                        |   | N/A |   |
| Cancelled                                  |   |   | -       |   |                                        |   | N/A |   |
| Nonvested      shares at March 31, 2008    |   |   | 173,959 |   |                                        | $      | 4.00 |   |

| 13.   | Earnings      Per Share and Stockholders Equity |
|-----------------|-------------------------------------------------|

| 14.   | Related      Party Transactions |
|-----------------|---------------------------------|

----

Item 2. 

| ·   | On      March 1, 2005, the Company acquired its New York-based graphics solutions,      premedia and retouching services businesses, Color Edge, Inc. (“Color      Edge”) and Color Edge Visual, Inc. (“Color Edge Visual”), and its New      York-based prototype services provider, Comp 24, LLC (“Comp      24”); |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | On      August 8, 2005, the Company acquired its California-based graphics      solutions business, Crush Creative, Inc.  (“Crush”); |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | On      May 5, 2006, the Company acquired its California-based prototypes      business, Dennis Curtin Studios, Inc.(“DCS”); |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | On      May 10, 2006, the Company acquired its Georgia-based prototypes business,      Advertising Props, Inc. (“AdProps”);and |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | On      October 1, 2006, the Company acquired its New York-based premedia and      retouching services business, Fuel Digital, Inc.  (“Fuel”). |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| (in      thousands)              |   | Payment      due by period |   |
|----------------------------------|--------|----------------------------|--------|
| Contractual      Obligations     |   | Total                      |   |   | Less      than 1 Year |   |   | 1-3      Years |   |   | 3-5      Years |   |   | More      than 5 Years |   |
| Long-Term      Debt Obligations  |   | $                          | 9,356  |   |   | $ | 426 |   |   | $ | 8,930 |   |   | $ | - |   |   | $ | - |   |
| Capital      Lease Obligations   |   |                       | 282    |   |   |   | 279 |   |   |   | 3 |   |   |   | - |   |   |   | - |   |
| Operating      Lease Obligations |   |                       | 22,874 |   |   |   | 4,192 |   |   |   | 8,717 |   |   |   | 6,388 |   |   |   | 3,577 |   |
| Total                            |   | $                          | 32,512 |   |   | $ | 4,897 |   |   | $ | 17,650 |   |   | $ | 6,388 |   |   | $ | 3,577 |   |

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Item 3. 

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Item 4.  

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Item 1. 

Item 6. Exhibits

| (a)    | Exhibits                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 2.1    | Agreement and Plan of Merger, dated March 28,      2008, among TU Holdings, Inc., TU Merger, Inc. and Merisel, Inc.      (filed as Exhibit 2.1 to the Company’s Current Report on Form 8-K filed with the SEC on      April 1, 2008).*                                                                                                                                                                                                                                                                      |
| 2.2    | Voting, Support and Redemption Agreement, dated as      of March 28, 2008, between TU Holdings, Inc., Merisel, Inc., Stonington      Capital Appreciation 1994 Fund, L.P. and Phoenix Acquisition Company II,      L.L.C. (filed as Exhibit 2.2 to the Company’s Current Report on      Form 8-K filed with      the SEC on April 1, 2008).*                                                                                                                                                                |
| 2.3    | Commitment Agreement, dated as of March 28, 2008,      between American Capital Strategies, Ltd. and Merisel, Inc. (filed      as Exhibit 2.3 to the Company’s Current Report on Form 8-K filed with the SEC on      April 1, 2008).*                                                                                                                                                                                                                                                                       |
| 3.1    | Restated      Certificate of Incorporation of Merisel, Inc., as amended (filed as      Exhibit 3.1 to the Company’s Annual Report on Form 10-K for the year ended      December 31, 2005).*                                                                                                                                                                                                                                                                                                                 |
| 3.2    | Bylaws      of Merisel, Inc., as amended (filed as Exhibit 3.2 to the Company’s Annual      Report on Form 10-K for the year ended December 31, 2005).*                                                                                                                                                                                                                                                                                                                                                     |
| 4.1    | Certificate      of Designation of Convertible Preferred Stock of Merisel, Inc. (filed as      Exhibit 99.2 to the Company’s Current Report on Form 8-K dated June 9,      2000).*                                                                                                                                                                                                                                                                                                                          |
| 10.1   | Amendment      No. 2 to Credit Agreement, dated February 27, 2008, among Color Edge LLC,      Color Edge Visual LLC and Crush Creative LLC, as borrowers, the Company,      Merisel Americas, Inc., Comp 24 LLC, Fuel Digital, LLC, Dennis Curtin      Studios, LLC, MADP, LLC and Advertising Props, Inc., as guarantors, and      Amalgamated Bank, as lender (filed as Exhibit 10.1 to the Company’s      Current Report on Form 8-K filed with the SEC on      March 4, 2008).*                         |
| 10.2   | Reaffirmation      and Confirmation Agreement (Security Documents), dated February 27, 2008,      among Color Edge LLC, Color Edge Visual LLC and Crush Creative LLC, as      borrowers, the Company, Merisel Americas, Inc., Comp 24 LLC, Fuel Digital,      LLC, Dennis Curtin Studios, LLC, MADP, LLC and Advertising Props, Inc., as      guarantors, in favor of Amalgamated Bank (filed as Exhibit 10.2 to the      Company’s Current Report on Form 8-K filed with the SEC on      March 4, 2008).*  |
| 10.3   | Amendment No. 2 to Employment Agreement, dated      January 18, 2008, between Merisel, Inc. and Donald R. Uzzi (filed      as Exhibit 10.51 to the Company’s Annual Report on Form 10-K for the year      ended December 31, 2007).*                                                                                                                                                                                                                                                                        |
| 31.1   | Certification of the Chief Executive Officer      pursuant to Section 302 of the Sarbanes-Oxley Act of2002.                                                                                                                                                                                                                                                                                                                                                                                                       |
| 31.2   | Certification of the Chief Financial Officer      pursuant to Section 302 of the Sarbanes-Oxley Act of2002.                                                                                                                                                                                                                                                                                                                                                                                                       |
| 32     | Certification of the Chief Executive Officer and      Chief Financial Officer pursuant to 18 U.S.C. Section      1350.                                                                                                                                                                                                                                                                                                                                                                                            |
|   | * Incorporated by      reference.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |

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SIGNATURES

|                    |   |                                                         |
|-------------------------|--------|--------------------------------------------------------------|
|                    |   |                                                         |   |
| Date:      May 15, 2008 | By:    | /s/ Donald      R. Uzzi                                 |   |
|                    |   | Name:      Donald R. Uzzi                                    |   |
|                    |   | Title:      Chairman, Chief Executive Officer, and President |   |
|                    |   |                                                         |   |

|   |   |                                |
|--------|--------|-------------------------------------|
|   |   |                                |   |
|   | By:    | /s/ Jon      H. Peterson       |   |
|   |   | Name:      Jon H. Peterson          |   |
|   |   | Title:      Chief Financial Officer |   |
|   |   |                                |   |