-----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, T4qp1e9Knd1RdyTlYGcjlUYccorT4+42h19hFQWQHt7tLMEyglvuub+kwFDLbnGV oFalj9gMgenm8Gm2aJabcg== /in/edgar/work/20000612/0000950147-00-000911/0000950147-00-000911.txt : 20000919 0000950147-00-000911.hdr.sgml : 20000919 ACCESSION NUMBER: 0000950147-00-000911 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000503 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20000612 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SITEK INC CENTRAL INDEX KEY: 0000849862 STANDARD INDUSTRIAL CLASSIFICATION: [6770 ] IRS NUMBER: 954585824 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: SEC FILE NUMBER: 033-28417 FILM NUMBER: 652884 BUSINESS ADDRESS: STREET 1: 1817 WEST 4TH STREET CITY: TEMPE STATE: AZ ZIP: 85281 BUSINESS PHONE: 6029218555 MAIL ADDRESS: STREET 1: 1817 WEST 4TH STREET CITY: TEMPLE STATE: AZ ZIP: 85281 FORMER COMPANY: FORMER CONFORMED NAME: DENTMART GROUP INC DATE OF NAME CHANGE: 19980415 FORMER COMPANY: FORMER CONFORMED NAME: ELGIN CORP DATE OF NAME CHANGE: 19980407 8-K/A 1 0001.txt AMENDMENT NO. 1 TO FORM 8-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K/A (Amendment No. 1) 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 3, 2000 PRODEO TECHNOLOGIES, INC. ------------------------------------------------------ (Exact name of Registrant as Specified in Its Charter) DELAWARE ---------------------------------------------- (State or Other Jurisdiction of Incorporation) 33-28417 95-4585824 ------------------------ ------------------------------------ (Commission File Number) (I.R.S. Employer Identification No.) 1817 WEST 4TH STREET, TEMPE, ARIZONA 85281 - ---------------------------------------- ---------- (Address of Principal Executive Offices) (Zip Code) (602) 921-8555 ---------------------------------------------------- (Registrant's Telephone Number, Including Area Code) ------------------------------------------------------------- (Former Name or Former Address, if Changed Since Last Report) ITEM 4: CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT. 1. On May 2, 2000, Sitek, Incorporated dismissed its current accountants, McGladrey & Pullen, LLP, and hired Deloitte & Touche, LLP, effective immediately. 2. The auditor's reports from McGladrey & Pullen, LLP for the Company's past fiscal year did not contain an adverse opinion or a disclaimer of opinion, and was not qualified or modified as to uncertainty, audit scope, or accounting principles. McGladrey & Pullen became the Company's auditors beginning for the fiscal year ending March 31, 1999. 3. The decision to engage Deloitte & Touche, LLP was recommended and approved by the audit committee and the Board of Directors. 4. During the Company's most recent fiscal year and the subsequent interim period preceding the change, there has been one potential disagreement with McGladrey & Pullen, LLP on a matter involving revenue recognition that was not resolved before McGladrey and Pullen, LLP's dismissal. The matter has been transferred to the Company's new accountants, Deloitte & Touche, LLP. A transaction valued at approximately $690,000 involving the exchange of inventory owned by a third party for the Company's inventory occurred in the quarter ended March 31, 2000. McGladrey & Pullen, LLP disagreed with the Company's Chief Financial Officer desire to recognize the $690,000 as revenue. The Company indicated to McGladrey & Pullen, LLP that it will send all required documentation on this issue to its new accountants, Deloitte & Touche, LLP and will follow whatever recommendation it receives from Deloitte & Touche, LLP. The Company had not received a recommendation on this matter at the time of McGladrey & Pullen, LLP's dismissal. The outstanding issue regarding the revenue recognition was not a factor in the dismissal of McGladrey & Pullen, LLP. The Company has authorized McGladrey & Pullen, LLP to respond fully to inquiries from Deloitte & Touche, LLP concerning this disagreement. 5. A copy of the letter received by the Company from McGladrey & Pullen, LLP on the revenue recognition issue is included as an exhibit to this 8-K/A. ITEM 7: FINANCIAL STATEMENTS AND EXHIBITS. Number Exhibit Filed Herewith - ------ ------- -------------- 16.1 Letter re: Change in Certifying Accountant X 2 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. Prodeo Technologies, Inc. (Registrant) Date: June 9, 2000 By: /s/ Don Jackson, Jr. ------------------------------------- Don Jackson, Jr., President, Director and Chief Executive Officer 3 EX-16.1 2 0002.txt LETTER RE: CHANGE IN CERTIFYING ACCOUNTANT May 31, 2000 Securities and Exchange Commission Washington, DC 20549 We were previously the independent accountants for Prodeo Technologies, Inc. and Subsidiaries (Prodeo or the Registrant). We reported on the Registrant's financial statements as of and for the period ended March 31, 1999. We commenced the audit of the financial statements as of and fthe year ended March 31, 2000. While in the process of the 2000 audit, on May 2, 2000 we were notified the Registrant had dismissed us as independent accountants of Prodeo. On May 11, 2000 we obtained and read a copy of the Form 8-K of Prodeo dated May 3, 2000. We have read such statements included under Item 4 and we agree with such statements, insofar as they relate to McGladrey & Pullen, LLP as follows: * Paragraph two refers to the fiscal year ending December 31, 1999. The fiscal period which we audited was March 31, 1999. As explained further below, we do not agree with the Registrant's comments that there were no disagreements as noted in the 4th paragraph of the Form 8-K. The following disagreement on the Company's accounting policies and practices was uat the date of our dismissal, which if not ultimately resolved to our satisfaction would have caused us to make reference in our report as to the subject of such disagreement if still unresolved at issuance of our report: * We had been provided information and an agreement about a transaction which occurred in the quarter ended March 31, 2000. The transaction involved the exchange of Prodeo inventory for inventory owned by another party. The current Prodeo Chief Financial Officer (CFO) indicated the Registrant's desire to recognize revenue on the exchange. We indicated our belief that revenue recognition was not appropriate. We provided the CFO and the former CFO with the generally accepted accounting principles we believed were appropriate for the transaction as well as the recent SEC Staff Accounting Bulletin on revenue recognition prior to our dismissal. As of the dismissal date we had not met with the Cto discuss the accounting literature and Staff Accounting Bulletin and its application to the transaction. /s/ McGladrey & Pullen, LLP McGLADREY & PULLEN, LLP -----END PRIVACY-ENHANCED MESSAGE-----