-----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, M7oXr0wrdHE6/IZu/qNZ1b851ClLsbVUh5dpvwJuj+eDQKl/cPwl3NsHld12+A6Q LeS+n5H5fgSSZyGiN0Z2kg== 0001043310-02-000006.txt : 20020515 0001043310-02-000006.hdr.sgml : 20020515 ACCESSION NUMBER: 0001043310-02-000006 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20020515 ITEM INFORMATION: Changes in registrant's certifying accountant ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020515 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STARTEC GLOBAL COMMUNICATIONS CORP CENTRAL INDEX KEY: 0001043310 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 521660985 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-23087 FILM NUMBER: 02648446 BUSINESS ADDRESS: STREET 1: 10411 MOTOR CITY DR CITY: BETHESDA STATE: MD ZIP: 20817 BUSINESS PHONE: 3013658959 MAIL ADDRESS: STREET 1: 10411 MOTOR CITY DR STREET 2: SUITE 300 CITY: BETHESDA STATE: MD ZIP: 20817 8-K 1 form8k051502.htm 8-K DISMISSAL OF INDEPENDENT ACCOUNTANTS 8-K Announcing Dismissal of Independent Auditors
                                  UNITED STATES
                       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):
                                  May 15, 2002

                        Commission File Number 000-23087

                    Startec Global Communications Corporation
             (Exact name of Registrant as specified in its charter)

         Delaware                                        52-2099559
(State or other jurisdiction of             (I.R.S. Employer Identification No.)
Incorporation or organization)

    1151 Seven Locks Road
         Potomac, MD                                        20854
(Address of Principal Executive                           (Zip Code)
          Offices)

                                 (301) 610-4300
              (Registrant's telephone number, including area code)


Item 4. Changes in Registrant's Certifying Accountant.

          On May 15, 2002, we dismissed  Arthur  Andersen LLP as our independent
     public accountants. The Board of Directors approved the dismissal of Arthur
     Andersen LLP upon the recommendation of our Audit Committee.

          Arthur Andersen LLP has been our independent  public accountants since
     1997 and their  report on our  financial  statements  for the fiscal  years
     ended December 31, 2000 and 1999 contains no adverse  opinion or disclaimer
     of opinion and was not qualified or modified as to uncertainty, audit scope
     or accounting principles.  The audit report for the year ended December 31,
     2000, however, did contain a statement  expressing  substantial doubt about
     our  ability to  continue  as a going  concern.  An audit of our  financial
     statements for the fiscal year ended December 31, 2001 did not commence and
     was not  completed.  Through  the  date of  dismissal,  we have not had any
     disagreements  with  Arthur  Andersen  LLP  on  any  matter  of  accounting
     principles or practices,  financial statement  disclosure or auditing scope
     or procedure, nor have we had any reportable events.

          We have provided  Arthur  Andersen LLP with a copy of this  disclosure
     and have requested that Arthur Andersen  furnish us with a letter addressed
     to the SEC stating whether it agrees with the above statements.  (A copy of
     Arthur  Andersen  LLP's letter to the SEC,  dated May 15, 2002, is filed as
     Exhibit 16.1 to this Form 8-K).

Item 7. Financial Statements and Exhibits.

(c) Exhibits. The following exhibits are filed with this report:

     Exhibit  16.1 - Letter  from  Arthur  Andersen  LLP to the  Securities  and
     Exchange Commission dated May 15, 2002.

     Exhibit 99 - Press Release dated May 15, 2002.


SIGNATURE

          Pursuant to the  requirements of the Securities  Exchange Act of 1934,
     the  Company has duly caused this report to the signed on its behalf by the
     undersigned hereunto duly authorized.


                      For:
                      Startec Global Communications Corporation and as its Chief
                                             Financial Officer:

                               By:  /s/ Prabhav V. Maniyar
                                         ---------------------------

Date:    May 15, 2002

EX-16 3 ltrofcnsnt051502.htm CONSENT LETTER FROM AA TO SEC Letter of consent from Arthur Andersen dated May 15, 2002
May 15, 2002

Office of the Chief Accountant
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549


Dear Sir/Madam:

     We have read the second  paragraph of Item 4 included in the Form 8-K dated
May 15, 2002 of Startec Global  Communications  Corporation to be filed with the
Securities  and Exchange  Commission  and are in agreement  with the  statements
contained therein.


Very truly yours,



Arthur Andersen LLP




cc: Mr. Prabhav Maniyar CFO, Startec Global Communications Corporation
EX-99 4 pressrelease051502.htm PRESS RELEASE Press Release dated May 15, 2002
[GRAPHIC OMITTED][GRAPHIC OMITTED]                         Company Press Release

FOR IMMEDIATE RELEASE

Startec Contact:

Prabhav V. Maniyar
Chief Financial Officer
(301) 610-4300

                          Startec Reports Dismissal of
                     Arthur Andersen as Independent Auditors

        Inability of Andersen to complete December 31, 2001 audit prompts
                     Audit Committee to recommend dismissal.

     BETHESDA,  MD - May 15, 2002:  Startec  Global  Communications  Corporation
(NASDAQ:  STGC.OB) today  announced the dismissal of Arthur  Andersen LLP as its
independent public accountants. The Board of Directors approved the dismissal of
Arthur Andersen LLP upon the recommendation of its Audit Committee.

     Arthur Andersen LLP has been Startec's independent public accountants since
1997 and their report on their  financial  statements for the fiscal years ended
December 31, 2000 and 1999 contains no adverse  opinion or disclaimer of opinion
and was not qualified or modified as to  uncertainty,  audit scope or accounting
principles.  The audit report for the year ended December 31, 2000, however, did
contain a statement expressing  substantial doubt about the Startec's ability to
continue as a going concern. An audit of Startec's financial  statements for the
fiscal year ended  December  31, 2001 did not  commence  and was not  completed.
Through  the date of  dismissal,  Startec  reports  that  they  have not had any
disagreements with Arthur Andersen LLP on any matter of accounting principles or
practices,  financial statement  disclosure or auditing scope or procedure,  nor
have they had any reportable events.  Arthur Andersen has furnished Startec with
a letter  addressed to the  Securities and Exchange  Commission  stating that it
agrees with the above statements.

     Startec  has filed a Report on Form 8-K with the  Securities  and  Exchange
Commission in conjunction with the dismissal.

SAFE HARBOR CAUTION:
- --------------------

     Other than historical  information contained herein,  certain statements in
this release are "forward-looking  statements" within the meaning of the Private
Securities  Litigation  Reform Act of 1994.  Forward-looking  statements in this
release involve a number of risks and uncertainties,  including, but not limited
to,  synergies  and  growth  expected  as a result of  acquisitions  made by the
Company;  changes in  revenue  due to  reduction  in  circuit-switched  traffic;
benefits realized from the consolidation of Company operations; savings realized
from the  accelerated  migration to the Company's IP network;  changes in market
conditions,  government regulation, the volatile and competitive environment for
Internet telephony,  technology,  the international  communications industry and
the global economy; availability of transmission facilities; management of rapid
growth;   entry  into  new  and  developing   markets;   competition;   customer
concentration and attrition; the expansion of a global network; and difficulties
in integrating prospective acquisitions. The company's existing debt obligations
also create  financial  and operating  risks and there can be no assurance  that
that the  company  can  satisfy  its debt  covenants  and, in the event that the
company is unable to  restructure  its balance  sheet  enough to achieve  EBITDA
breakeven in a timely manner,  there will likely be a material adverse change in
the company's operations and financial condition.  These and other relevant risk
factors are discussed in further detail in the Company's SEC filings.

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