-----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, Nkn+RP1dmCETWvHFnjCqlrr8vohs/r4ldr+/C6/r5cSFrpnWJS22qBc/fU2s/4jZ BtNiVzzsioJJ6o8bpmlTzw== /in/edgar/work/20000802/0001021408-00-002369/0001021408-00-002369.txt : 20000921 0001021408-00-002369.hdr.sgml : 20000921 ACCESSION NUMBER: 0001021408-00-002369 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000712 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20000802 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FINANCIALWEB COM INC CENTRAL INDEX KEY: 0001083758 STANDARD INDUSTRIAL CLASSIFICATION: [7389 ] IRS NUMBER: 931202428 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: SEC FILE NUMBER: 000-25799 FILM NUMBER: 684721 BUSINESS ADDRESS: STREET 1: 201 PARK PLACE STREET 2: SUITE 321 CITY: ALTAMONTE SPRINGS STATE: FL ZIP: 32701 BUSINESS PHONE: 4078344443 MAIL ADDRESS: STREET 1: 201 PARK PLACE STREET 2: SUITE 321 CITY: ALTAMONTE SPRINGS STATE: FL ZIP: 32701 8-K/A 1 0001.txt AMENDED FORM 8-K 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 (Date of earliest event reported): July 12, 2000 FINANCIALWEB.COM, INC --------------------- (Exact Name of Registrant as Specified in Charter)
Nevada 000-25799 93-1202428 ------ --------- ---------- (State or Other Jurisdiction (Commission (IRS Employer of Incorporation) File Number) Identification No.)
201 Park Place, Suite 321 Altamonte Springs, Florida 32701 -------------------------------- (Address of Principal Executive Offices including Zip Code) (407) 834-4443 -------------- (Registrant's telephone number, including area code) This Current Report on Form 8-K amends the Current Report on Form 8-K previously filed by FinancialWeb.com, Inc. on June 19, 2000 to the extent set forth below. Item 4. Changes in the Registrant's Certifying Accountant. (a) On July 12, 2000, Deloitte & Touche LLP ("Deloitte & Touche") informed FinancialWeb.com, Inc. (the "Company") that it was resigning effective immediately as the Company's independent auditors. The Company's Board of Directors and Audit Committee has commenced the selection process for a new independent auditor but has not engaged one as of the date hereof. Deloitte & Touche's audit report on the consolidated financial statements of the Company as of December 31, 1999 and 1998 and for each of the three years in the period ended December 31, 1999, expressed an unqualified opinion and included an explanatory paragraph related to the Company's continuation as a going concern. Deloitte & Touche's resignation was not requested or acted upon by the Company's Board of Directors or the Audit Committee. In connection with the audits of the Company's consolidated financial statements as of December 31, 1999 and 1998 and for each of the three years in the period ended December 31, 1999, and during the subsequent interim period through the date of Deloitte & Touche's resignation, there have been no disagreements with Deloitte & Touche on any matters of accounting principles or practices, financial statement disclosure, or auditing scope and procedures which, if not resolved to the satisfaction of Deloitte & Touche, would have caused Deloitte & Touche to make reference to the matter in its report on the Company's financial statements. On a conference call with the Company on or about July 12, 2000, Deloitte & Touche informed the Company that in connection with the audits of the Company's consolidated financial statements as of December 31, 1999 and 1998 and for each of the three years in the period ended December 31, 1999, Deloitte & Touche concluded that the Company's lack of adequate systems, controls, and personnel necessary to timely prepare internal and external financial statements in conformity with generally accepted accounting principles was a reportable condition in the Company's internal controls as defined by generally accepted auditing standards. The Company engaged Deloitte & Touche, among other things, to help the Company address areas of weakness in its internal controls as part of the audit process for the periods mentioned above. Also on the July 12, 2000 conference call with the Company, Deloitte & Touche informed the Company that due to allegations of conduct to fraudulently inflate the price of the Company's stock raised in a Federal indictment released on June 14, 2000 of Glenn B. Laken, a shareholder of and consultant to the Company (the "Indictment"), Deloitte & Touche believed the Audit Committee should conduct an investigation into (i) whether any of the Company's officers, directors or employees had been involved in any of the activities alleged in the Indictment and, if so, (ii) whether the Company's consolidated financial statements, including disclosures or possible missing disclosures, may be materially misstated. Although the Company was not charged in the Indictment, nor to the Company's knowledge, was it ever a target of the investigation leading to the Indictment, the day following the announcement of the Indictment, the Company's, Audit Committee commenced its own inquiry into whether any of the Company's officers, directors or employees had been involved in any of the illegal activities alleged in the Indictment. In fact, the Audit Committee's inquiry was substantially completed prior to the July 12, 2000 conference call with Deloitte & Touche. Based on its inquiry, the Audit Committee believes that there was no complicity by the Company or any of its officers, directors or employees in the illegal activities alleged in the Indictment. The Company has requested that Deloitte & Touche furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether or not Deloitte & Touche agrees with the above statements contained in this Current Report on Form 8-K. A copy of such letter, dated July 26, 2000, is filed as Exhibit 16.1 to this Current Report on Form 8-K. Item 7. Financial Statements and Exhibits. (c) Exhibits Exhibit Number Description 16.1 Letter dated July 26, 2000 from Deloitte & Touche LLP to the Securities and Exchange Commission. 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. Dated: August 2, 2000 FINANCIALWEB.COM, INC. By: /s/ Kevin Leininger --------------------- Chief Executive Officer and President
EX-16.1 2 0002.txt CORRESPONDENCE LETTER TO SEC Exhibit 16.1 ------------ [DELOITTE & TOUCHE LLP LETTERHEAD] July 26, 2000 Securities and Exchange Commission Mail Stop 11-3 450 5/th/ Street, N.W. Washington D.C. We have read and agree with the statements of FinancialWeb.com, Inc. (the "Company") in Item 4(a) of its Form 8-K dated July 12, 2000, except for the following statements: As to the Company's statements in the last sentence of paragraph one, the last sentence of paragraph two, the last sentence of paragraph four, the last three sentences of paragraph five, and the last sentence of paragraph six, we do not have sufficient basis to agree or disagree. As to the Company's statements in the first sentence of paragraph five, we informed the Company that the audit committee should conduct an investigation into the allegations relating to the Company and associated parties and persons contained in recent press reports and federal indictments, including whether the Company or any of its officers, directors, employees or consultants may have committed or been a party to illegal acts and whether the Company's financial statements, including disclosures or possible missing disclosures, may be materially misstated. Yours truly, /s/ Deloitte & Touche LLP - -------------------------- Orlando, Florida
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