-----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, UOcNyKc+DHHBpfRR7pHKwIDNfbsBaVVHgTggXJ+FUGDhPdEzuntxo3t2anHG9/SJ BOmdGjdxN1kBoK6U3BUGFQ== 0001047469-98-039301.txt : 19981106 0001047469-98-039301.hdr.sgml : 19981106 ACCESSION NUMBER: 0001047469-98-039301 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19981104 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19981105 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CHOICES ENTERTAINMENT CORP CENTRAL INDEX KEY: 0000822935 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-VIDEO TAPE RENTAL [7841] IRS NUMBER: 521529536 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: SEC FILE NUMBER: 000-17001 FILM NUMBER: 98738527 BUSINESS ADDRESS: STREET 1: 10770 WILES ROAD CITY: CORAL SPRINGS STATE: FL ZIP: 33076 BUSINESS PHONE: 9547524289 MAIL ADDRESS: STREET 1: 10770 WILES ROAD CITY: CORAL SPRINGS STATE: FL ZIP: 33076 FORMER COMPANY: FORMER CONFORMED NAME: DATAVEND INC DATE OF NAME CHANGE: 19900401 8-K/A 1 FORM 8-K/A SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K/A CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: November 5, 1998 CHOICES ENTERTAINMENT CORPORATION (Exact name of registrant as specified in its charter) Delaware 000-17001 52-1529536 (State of Incorporation) (Commission File No.) (I.R.S. Employer Identification No.) 10770 Wiles Road Coral Springs Florida 33076 (Address of principal executive offices) 954-752-4289 (Registrant's telephone number, including area code) (Former name or former address, if changed since last report) ITEM 1. Changes in Control of Registrant. Not Applicable. ITEM 2. Acquisition or Disposition of Assets. Not Applicable. ITEM 3. Bankruptcy or Receivership. Not Applicable. ITEM 4. Changes in Registrant's Certifying Accountant. In a letter dated October 8, 1998, KPMG Peat Marwick LLP ("KPMG") advised Choices Entertainment Corporation (the "Company") that KPMG was terminating the client-auditor relationship with the Company. During the Company's two (2) most recent fiscal years and any subsequent interim period preceding such termination, there were no disagreements between KPMG and the Company on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedures, which disagreement(s), if not resolved to the satisfaction of KPMG, would have caused KPMG to make reference to the subject matter of the disagreement(s) in connection with its report. KPMG's accountant's report on the financial statements for the two (2) years ended December 31, 1997, contained no adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles, except as follows: KPMG's auditors' report on the financial statements of the Company and its subsidiaries as of and for the years ended December 31, 1997 and December 31, 1996, contained a separate explanatory paragraph stating that the Company had suffered recurring losses from operations, was in default on certain obligations and had a net working capital deficiency which raise substantial doubts about the Company's ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 3. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. The Company has not been advised by KPMG that (i) internal controls necessary for the Company to develop reliable financial statements do not exist; (ii) information has come to KPMG's attention that has led it to no longer be able to rely on management's representations, or that has made them unwilling to be associated with the financial statements prepared by management; (iii) KPMG needs to significantly expand the scope of its audit during such time period; and (iv) information has come to KPMG's attention that what it has concluded materially impacts the fairness or reliability of either (a) a previously issued audit report or the underlying Form 8-K/A Page - 2 financial statements; or (b) the financial statements issued or to be issued covering the fiscal period(s) subsequent to the date of the most recent financial statements covered by an audit report. A copy of this Report on Form 8-K has been furnished to KPMG pursuant to Item 304(a)(3) of Regulation S-K under the General Rules and Regulations of the Securities Act of 1933, as amended. The Company has requested KPMG to furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether KPMG agrees with the statements made by the Company, and, if not, stating in which respects it does not so agree. The Company has requested any such letter to be submitted to it as promptly as possible so that any such letter may be filed by the Company within ten (10) days following the filing of this Report. Any such letter will be filed by Amendment to this Report within two (2) business days after receipt of such letter. ITEM 5. Other Events. Not Applicable. ITEM 6. Resignations of Registrant's Directors. Not Applicable. ITEM 7. Financial Statements, PRO FORMA Financial Information and Exhibits. (a) Not Applicable. (b) Not Applicable (c) Exhibits Exhibit 16.1 Letter of KPMG Peat Marwick LLP dated November 4, 1998 addressed to the Securities and Exchange Commission agreeing to the statements made in the Form 8-K filed on October 28, 1998. ITEM 8. Change in Fiscal Year. Not Applicable. ITEM 9. Sales of Equity Securities Pursuant to Regulation S. None. Form 8-K/A Page - 3 INDEX TO EXHIBITS EXHIBIT NO. DESCRIPTION OF EXHIBIT Exhibit 16.1 Letter of KPMG Peat Marwick LLP dated November 4, 1998 addressed to the Securities and Exchange Commission agreeing to the statements made in the Form 8-K filed on October 28, 1998. Form 8-K/A Page - 4 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report on form 8-K/A for the report date indicated to be signed on its behalf by the undersigned thereunto duly authorized. CHOICES ENTERTAINMENT CORPORATION November 5, 1998 /s/ James Sink, Chairman - ---------------- -------------------------------------------------- (Date) November 5, 1998 /s/ George D. Pursglove, Director - ---------------- -------------------------------------------------- (Date) November 5, 1998 /s/ Thomas Renna, Director - ---------------- -------------------------------------------------- (Date) Form 8-K/A Page - 5 EX-16.1 2 EXHIBIT 16.1 [LETTERHEAD] November 4, 1998 Securities and Exchange Commission Washington, D.C. 20549 Ladies and Gentlemen: We were previously principal accountants for Choices Entertainment Corporation and, under the date of March 6, 1998 we reported on the financial statements of Choices Entertainment Corporation and subsidiaries as of and for the years ended December 31, 1997 and 1996. On October 8, 1998, we resigned. We have read Choices Entertainment Corporation statements included under Item 4 of its Form 8-K dated October 28, 1998, and we agree with such statements. We have not had any involvement with any financial statements of Choices Entertainment Corporation subsequent to the date of our audit report. Very truly yours, /s/ KPMG Peat Marwick LLP -----END PRIVACY-ENHANCED MESSAGE-----