-----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, AG/mj1P9VcAzfDLvbW56CdZM+hckBFTITq/C4QWlAFEFs7QTiIuh/12K9/4vH1hZ Ws+f9cYEy65d6Hw8j5OlJw== 0001021408-01-001527.txt : 20010308 0001021408-01-001527.hdr.sgml : 20010308 ACCESSION NUMBER: 0001021408-01-001527 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20010301 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20010307 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TOWER PARK MARINA INVESTORS LP CENTRAL INDEX KEY: 0000831491 STANDARD INDUSTRIAL CLASSIFICATION: OPERATORS OF NONRESIDENTIAL BUILDINGS [6512] IRS NUMBER: 954137996 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: SEC FILE NUMBER: 000-17672 FILM NUMBER: 1563051 BUSINESS ADDRESS: STREET 1: 16633 VENTURA BLVD STREET 2: SIXTH FLOOR CITY: ENCINO STATE: CA ZIP: 91436 BUSINESS PHONE: 8189070400 MAIL ADDRESS: STREET 1: 16633 VENTURA BLVD STREET 2: SIXTH FLOOR CITY: ENCINO STATE: CA ZIP: 91436 FORMER COMPANY: FORMER CONFORMED NAME: PS MARINA INVESTORS I DATE OF NAME CHANGE: 19950614 FORMER COMPANY: FORMER CONFORMED NAME: PS MARINAS INVESTORS I DATE OF NAME CHANGE: 19920703 8-K/A 1 0001.txt 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 MARCH 1, 2001 ------------- Date of Report (Date of earliest event reported) TOWER PARK MARINA INVESTORS, L.P., (FORMERLY PS MARINA INVESTORS I) a California Limited Partnership ---------------------------------------------------------- (Exact name of registrant as specified in its charter) California 0-17672 95-4137996 - ------------------------------- ------------ ---------------- (State or other jurisdiction of (Commission (I.R.S. Employer incorporation or organization) File Number) Identification Number) 16633 Ventura Blvd., 6th Floor, Encino, California 91436 -------------------------------------------------------- (Address of principal executive offices) (Zip Code) (818) 907-0400 -------------- Registrant's telephone number, including area code: ------------------------------------ Item 4. Changes in Registrants Certifying Accountant On February 23, 2001, Ernst & Young LLP, the independent accountant who was previously engaged as the principal accountant for the Registrant was dismissed. Ernst & Young LLP's report on the financial statements for the years ended December 31, 1999 and 1998 contained qualifications for uncertainties with respect to the Registrants ability to continue as a going concern. These qualifications were a result of the Registrant's property not generating a satisfactory level of cash flows and cash flow projections were not able to indicate significant improvement in the near term. These circumstances raised doubts about the Registrant's ability to recover the carrying value of its assets, and led to qualification of the accountant's opinion. The board of directors for Westrec Investors, Inc. (the General Partner) recommended and approved the change in accountants. For the years ended December 31, 1999 and 1998 and the interim periods preceding this report, there were no disagreements with Ernst & Young LLP on any matter of accounting principle or practice, financial statement disclosure, auditing scope or procedure, which, if not resolved would have caused Ernst & Young LLP to make reference to the subject matter of the disagreement in connection with their report. For the years ended December 31, 1999 and 1998 and the interim periods preceding this report, there were no "reportable events" which led to a disagreement or difference of opinion with Ernst & Young LLP. As required by Regulation S-K, Item 304(a)(3), attached hereto as Exhibit 16.1 is a letter from Ernst & Young LLP acknowledging the statements made herein. On February 23, 2001, the Registrant engaged Vasquez & Co. LLP as the principal accountant to audit the financial statements. Prior to their engagement, there were no consultations with Vasquez & Co. LLP regarding application of accounting principles to a specified transaction or the type of audit opinion that might be rendered on the Registrant's financial statements, and there were no matters that were the subject of a disagreement. In addition, there were no "reportable events" which led to a disagreement or difference of opinion with Vasquez & Co. LLP prior to their engagement. We have requested Vasquez & Co. LLP to review this disclosure before it was filed with the Commission, and they have furnished us with a letter addressed to the Commission attached hereto as Exhibit 16.2 acknowledging the statements made herein. The letter from Ernst & Young LLP attached hereto as Exhibit 16.1 and the letter from Vasquez and Co. LLP attached hereto as Exhibit 16.2 are hereby incorporated by reference herein. Item 7. Financial Statements and Exhibits (c) Exhibits 16.1 Letter from Ernst & Young LLP re change in certifying accountant 16.2 Letter from Vasquez & Co LLP re change in certifying accountant 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: March 1, 2001 By: Westrec Investors, Inc., ------------------------ (formerly PS MARINA INVESTORS, INC.) ------------------------------------ General Partner By: /s/ Michael M. Sachs ------------------------- Michael M. Sachs President EX-16.1 2 0002.txt LETTER FROM ERNST & YOUNG LLP EXHIBIT 16.1 March 1, 2001 Securities and Exchange Commission 450 Fifth Street, N.W. Washington, DC 20549 Gentlemen: We have read Item 4 of Form 8-K dated March 1, 2001, of Tower Park Marina Investors, L.P. and are in agreement with the statements contained in the second fourth and fifth paragraphs on pages one and two therein, except that we did not review any interim financial statements filed with the Commission. We have no basis to agree or disagree with other statements of the registrant contained therein. /s/ Ernst & Young LLP Ernst & Young LLP EX-16.2 3 0003.txt LETTER FROM VAZQUEZ & CO. LLP [LETTERHEAD OF VASQUEZ & COMPANY LLP APPEARS HERE] EXHIBIT 16.2 March 1, 2001 Securities and Exchange Commission 450 Fifth Street, N.W. Washington, DC 20549 Gentlemen: We have read Item 4 of Form8-K dated March 1, 2001, of Tower Park Marina Investors, L.P. and are in agreement with the statements contained in the sixth paragraph on page two therein. We have no basis to agree or disagree with other statements of the registrant contained therein. /s/ Vasquez & Company LLP Vasquez & Company LLP -----END PRIVACY-ENHANCED MESSAGE-----