SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

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                                    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 31, 2000
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                             Diamond Equities, Inc.
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               (Exact Name of Registrant as Specified in Charter)


          Nevada                       0-24138                   88-0232816
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(State or Other Jurisdiction         (Commission               (IRS Employer
     of Incorporation)               File Number)            Identification No.)


2010 E. University Drive, Suite 3, Tempe, Arizona                  85281
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    (Address of Principal Executive Offices)                     (Zip Code)


       Registrant's telephone number, including area code (602) 921-2760
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                                      N/A
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          (Former Name or Former Address, if Changed Since Last Report)

ITEM 4. CHANGES IN REGISTRANT'S CERTIFIED PUBLIC ACCOUNTANT

     The Registrant's  previous independent  auditor,  King, Weber & Associates,
P.C., resigned effective July 31, 2000.

     On July 31, 2000, the Registrant executed an engagement letter with its new
auditor, Mantyla McReynolds, PC, 3872 South 900 East, Suite 230, Salt Lake City,
Utah, 84121.

     The previous  accountant's report on the financial  statements for the past
two years did not  contain an adverse  opinion or  disclaimer  of opinion or was
qualified or modified as to uncertainty, audit scope or accounting principals.

     The decision to change  accountants  was approved by the Board of Directors
of the Registrant.

     During the two most recent fiscal years and interim  period,  there were no
material  disagreements  with the former accountants on any matter of accounting
principals or accounting practices,  financial statement disclosure, or auditing
scope or procedure.

ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS

     a.   Exhibits.

          See former accountant's letter to be filed by amendment.

                                   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.

                                        DIAMOND EQUITIES, INC.


Date: August 3, 2000                    By: David D. Westfere
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                                            David D. Westfere, President

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