-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, CMIBfPKsBzmfvjgcwgsL/MtmRZj5YqvZi6Fj8veqAnGJKEILE0GpuTr2me3Q2nd1 /RhajVK1ODAWjxz0TbqPkg== 0000718332-03-000023.txt : 20040305 0000718332-03-000023.hdr.sgml : 20040305 20031014173257 ACCESSION NUMBER: 0000718332-03-000023 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20031014 ITEM INFORMATION: Changes in registrant's certifying accountant ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20031015 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PIZZA INN INC /MO/ CENTRAL INDEX KEY: 0000718332 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-GROCERIES & RELATED PRODUCTS [5140] IRS NUMBER: 470654575 STATE OF INCORPORATION: MO FISCAL YEAR END: 0626 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-12919 FILM NUMBER: 03940372 BUSINESS ADDRESS: STREET 1: 5050 QUORUM DR STE 500 CITY: DALLAS STATE: TX ZIP: 75240 BUSINESS PHONE: 2147019955 MAIL ADDRESS: STREET 1: 5050 QUORUM DR STE 500 STREET 2: 5050 QUORUM DR STE 500 CITY: DALLAS STATE: TX ZIP: 75240 FORMER COMPANY: FORMER CONFORMED NAME: PANTERAS CORP DATE OF NAME CHANGE: 19901126 FORMER COMPANY: FORMER CONFORMED NAME: CONCEPT DEVELOPMENT INC DATE OF NAME CHANGE: 19870212 8-K 1 doc1.txt 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: October 8, 2003 PIZZA INN, INC. (Exact name of registrant as specified in its charter) MISSOURI 0-12919 47-0654575 (State or other jurisdiction (Commission (I.R.S. Employer of incorporation or organization) File Number) Identification Number) 3551 PLANO PARKWAY, THE COLONY, TX 75056 (Address of principal executive offices)(zip code) Telephone number of registrant, including area code: (469) 384-5000 ---------------------- ITEM 4. CHANGES IN THE REGISTRANT'S CERTIFYING ACCOUNTANT. (a) Previous independent accountants. (i) On October 8, 2003, the Registrant dismissed PricewaterhouseCoopers LLP as the independent accountants of Pizza Inn, Inc. (the "Registrant"). (ii) The decision to change accountants was recommended and approved by the Audit Committee of Pizza Inn, Inc. with the concurrence of the Board of Directors and management. (iii) The reports of PricewaterhouseCoopers LLP on the financial statements of the Registrant for the past two fiscal years did not contain an adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles. (iv) In connection with its audits for the two most recent fiscal years and through October 8, 2003, there were no disagreements with PricewaterhouseCoopers LLP on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements if not resolved to the satisfaction of PricewaterhouseCoopers LLP would have caused them to make reference thereto in their reports on the financial statements for such years. (v) During the fiscal year ended June 29, 2003, PricewaterhouseCoopers LLP communicated to the Registrant a material weakness concerning controls surrounding the reconciliation of deferred tax asset and liability balances. The independent accountant has discussed this reportable event with the Audit Committee of the Board of Directors of the Registrant. The Registrant has authorized the former accountant to respond fully to the inquiries of the successor accountant concerning this reportable event. During the two most recent fiscal years and through October 8, 2003, there have been no other reportable events (as defined in Regulation S-K, Item 304 (a) (1) (v)). (vi) The Registrant provided PricewaterhouseCoopers LLP with a copy of this Current Report on Form 8-K and has requested that PricewaterhouseCoopers LLP furnish it with a letter addressed to the SEC stating whether or not it agrees with the above statements. A copy of such letter is filed herein as Exhibit 16.1 to this Current Report on Form 8-K. (b) New independent accountants. The Registrant selected BDO Seidman, LLP as its new independent accountants as of October 8, 2003. BDO Seidman, LLP is currently in the process of finalizing their client-acceptance due diligence. During the two most recent fiscal years and through October 8, 2003, the Registrant has not consulted with BDO Seidman, LLP regarding either (i) the application of accounting principles to a specified transaction, either completed or proposed; or the type of audit opinion that might be rendered on the Registrant's financial statements, and neither a written report was provided to the Registrant or oral advice was provided that BDO Seidman, LLP concluded was an important factor considered by the Registrant in reaching a decision as to the accounting, auditing or financial reporting issue; or (ii) any matter that was either the subject of disagreement, as that term is defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions to Item 304 of Regulation S-K, or a reportable event, as that term is defined in Item 304(a)(1)(v) of Regulation S-K. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. (c ) Exhibits. 16.1 Letter from PricewaterhouseCoopers, LLP to the Securities and Exchange Commission agreeing with the statements made by the Company in Item 4 of this Current Report on Form 8-K. 99.1 Press Release dated October 14, 2003 announcing a change in accountants. SIGNATURES Pursuant to the requirements of the Securities and 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. PIZZA INN, INC. By: /s/ Shawn M. Preator Shawn M. Preator, Chief Financial Officer Date: October 14, 2003 EX-16.1 3 doc2.txt October 13, 2003 Securities and Exchange Commission 450 Fifth Street, N.W. Washington, D.C. 20549 Commissioners: We have read the statements made by Pizza Inn, Inc. (the "Company") (copy attached), which we understand will be filed with the Commission, pursuant to Item 4 of Form 8-K, as part of the Company's Form 8-K report dated October 8, 2003. We agree with the statements concerning our Firm in such Form 8-K. Very truly yours, /s/ PricewaterhouseCoopers LLP PricewaterhouseCoopers LLP EX-99.1 4 doc3.txt P R E S S R E L E A S E FOR IMMEDIATE RELEASE PIZZA INN ANNOUNCES CHANGE IN ACCOUNTANTS THE COLONY, TEXAS -OCTOBER 14, 2003- PIZZA INN, INC. (NASDAQ:PZZI) announced today that it has appointed BDO Seidman, LLP as its independent accountant, effective as of October 8, 2003. BDO Seidman, LLP is currently in the process of finalizing their client-acceptance due diligence. BDO Seidman, LLP replaces PricewaterhouseCoopers LLP, which served as the Company's audit firm for more than 14 years. The decision followed a thorough evaluation process, which included other national firms as well as PricewaterhouseCoopers LLP, and was arrived at by the Audit Committee. The decision to change accountants was not the result of any disagreement between the Company and PricewaterhouseCoopers LLP on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures. The letter from PricewaterhouseCoopers LLP agreeing with these statements is being filed today in the Company's Form 8-K related to this announcement. Dr. F. Jay Taylor, Chairman of the Audit Committee, stated: "Our selection of BDO Seidman, LLP was based on its professional qualifications, the quality of the audit and tax professionals who will be working with us, and its reasonable cost. The quality of the people at PricewaterhouseCoopers and the excellent professional services provided Pizza Inn for many years have made this a very difficult decision to make. However, we decided a change in audit firms was in the best interest of our stockholders. Due to the auditor transition, the Company's earnings release for the quarter ended September 28, 2003 is tentatively scheduled for the week of October 27, 2003. The Company is the franchisor and food and supply distributor to more than 400 stores in 20 states and 10 foreign countries. -----END PRIVACY-ENHANCED MESSAGE-----