-----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, CEjSFTdbRq/etItEdnc9jrQ9br3rpV1Ht3rrtiWLYFMdwgjoAYKVHlEAviELq+lS L2hPhhhXkMpH5nbbocTUfA== 0001047469-98-027477.txt : 19980717 0001047469-98-027477.hdr.sgml : 19980717 ACCESSION NUMBER: 0001047469-98-027477 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980709 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980716 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: HYBRID NETWORKS INC CENTRAL INDEX KEY: 0000900091 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 770250931 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-23289 FILM NUMBER: 98667024 BUSINESS ADDRESS: STREET 1: 6409 GUADALUPE MINES ROAD CITY: SAN JOSE STATE: CA ZIP: 95120 BUSINESS PHONE: 4083236250 MAIL ADDRESS: STREET 1: 6409 GUADALUPE MINES ROAD CITY: SAN JOSE STATE: CA ZIP: 95120 8-K 1 8-K 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: JULY 9, 1998 HYBRID NETWORKS, INC. (Exact name of registrant as specified in this charter) DELAWARE (State or Other Jurisdiction of Incorporation) 0-23289 77-02520931 (Commission File Number) (I.R.S. Employer Identification Number) 6409 GUADALUPE MINES ROAD, SAN JOSE, CA 95120 (Address of principal executive offices) (Zip Code) (408) 323-6250 (Registrant's Telephone Number, Including Area Code) ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT. On July 9, 1998, PricewaterhouseCoopers LLP ("PwC") resigned as the independent auditors of Hybrid Networks, Inc. (the "Company"). PwC stated to the Company that it was not specifying a reason for its resignation. In connection with its resignation, PwC informed the Company, for the first time, that PwC is now of the view that the 1997 financial statements of the Company referred to below, which PwC had audited and reported upon, needed to be restated. PwC indicated the restatement would relate to revenue recognition but did not identify the items or quantify the amounts involved. PwC further informed the Company that PwC believed it was not in the best interests of PwC or the Company for PwC to continue to act as the Company's independent auditors and that PwC would not address any restatement of the Company's financial statements. As previously reported by the Company, on June 17, 1998 PwC notified the Company that PwC had concluded that its reports with respect to the financial statements of the Company as of December 31, 1997 and for the year then ended and as of September 30, 1997 and for the nine months then ended should no longer be relied upon (the "Withdrawn Reports") and that its consent included in the registration statement on Form S-4 filed by the Company on May 7, 1998 should be withdrawn. In May 1998, PwC had initiated a review of certain transactions included in these financial statements, and PwC advised the Company that its June 17 notice indicating that the Withdrawn Reports should no longer be relied upon was made pending completion of that review and should not be interpreted as a reflection as to what the results of the review might be. PwC has acknowledged that the Company has cooperated fully with PwC in connection with its review. Except as indicated above, the Company has not been informed as to the results of PwC's review. None of the Withdrawn Reports or PwC's report on the financial statements of the Company as of December 31, 1996 and for the year then ended contained an adverse opinion or a disclaimer of opinion or was qualified or modified as to uncertainty, audit scope or accounting principles. There were no disagreements between PwC and the Company on any matter of the Company's accounting principles or practices, financial statement disclosure or auditing scope or procedure during the two most recent fiscal years and through July 9, 1998. The Company will retain another accounting firm as soon as possible to re-audit its 1997 financial statements. ITEM 7. EXHIBITS 16.1 Letter from PricewaterhouseCoopers LLP. 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this amendment to report to be signed on its behalf by the undersigned, thereunto duly authorized. Dated: July 15, 1998 Hybrid Networks, Inc. By: /s/ Carl S. Ledbetter --------------------- Carl S. Ledbetter Chairman, President and Chief Executive Officer 3 EX-16.1 2 EX-16.1 EXHIBIT 16.1 [PRICEWATERHOUSECOOPERS LLP LETTERHEAD] July 15, 1998 Securities and Exchange Commission 450 Fifth Street N.W. Washington, D.C. 20549 Gentlemen: We have read the statements made by Hybrid Networks, Inc. (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 for the month of July 1998. We agree with the statements concerning our Firm in such Form 8-K. Very truly yours, PricewaterhouseCoopers LLP Attachment -----END PRIVACY-ENHANCED MESSAGE-----