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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 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) May 1, 1998
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CARING PRODUCTS INTERNATIONAL, INC.
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(Exact Name of Registrant as Specified in Charter)
Delaware 333-35239 98-0134875
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(State or Other (Commission (IRS Employer
Jurisdiction of File No.) Identification No.)
Incorporation)
200 First Avenue West, Suite 200, Seattle, Washington 98119
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (206) 282-6040
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
This information is provided in accordance with Reg. Section 229.304.
Item 304. Changes in and Disagreements with Accountants on Accounting and
Financial Disclosure.
(a)(1)(i) On March 12, 1998, Registrant engaged Peterson Sullivan
P.L.L.C. ("Peterson") to audit Registrant's financial statements for the
fiscal year ended March 31, 1998. Prior thereto, Peterson had rendered
certain services to Registrant relating to accounting periods subsequent to
March 31, 1997. Although Registrant and Peterson do not believe such services
impaired their independence, both became concerned regarding the appearance
of impairment. Accordingly, on May 1, 1998, Registrant terminated the
engagement of Peterson.
(a)(1)(ii) Peterson has not issued any opinion on Registrant's financial
statements for the fiscal year ended March 31, 1998 and was only in the
planning stage of its audit at the time of dismissal.
(a)(1)(iii) The termination of Peterson was approved by Registrant's board
of directors upon the recommendation of its audit committee.
(a)(1)(iv) There were no disagreements with Peterson on any matter of
accounting principles or practices, financial statement disclosure, or
auditing scope or procedure with respect to the Registrant's fiscal year
ended March 31, 1998 or any subsequent interim period preceding May 1,
1998.
(a)(1)(v) Inapplicable.
(a)(2) The Registrant selected Grant Thorton LLP ("Grant") as its new
independent accountant effective May 1, 1998. Prior to such selection, Grant
had not performed any services for the Registrant.
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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.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) Exhibits.
16 -- Letter, dated May 5, 1998, from Peterson Sullivan P.L.L.C.,
the Registrant's former principal accountants, to the Securities and Exchange
Commission pursuant to Item 304(a)(3) of Regulation S-K.
SIGNATURES
CARING PRODUCTS INTERNATIONAL, INC.
By: /s/ Sandra L. Sternoff
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Sandra L. Sternoff,
Chief Financial Officer
Dated: May 6, 1998
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[PETERSON SULLIVAN P.L.L.C. LETTERHEAD]
May 5, 1998
Securities and Exchange Commission
450 - 5th Street, NW
Washington, DC 20549
Gentlemen:
We have read the statements made by Caring Products International, Inc. which
we understand will be filed with the Commission, pursuant to Item 4 of Form
8-K, as part of the Company's Form 8-K dated May 6, 1998. We agree with the
statements concerning our firm in the Form 8-K.
Very truly yours,
/s/ PETERSON SULLIVAN P.L.L.C.
