SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
September 20, 1999
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Date of Report (Date of earliest event reported)
POINT WEST CAPITAL CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 0-27736 94-3165263
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State or other jurisdiction of (Commission File (I.R.S. Employer
incorporation or organization) Number) Identification Number)
1700 Montgomery Street, Suite 250
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San Francisco, California 94111
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(Address of principal executive offices) (Zip Code)
(415) 394-9467
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(Registrant's telephone number, including area code)
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Item 4. Changes in Registrant's Certifying Accountant.
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(a) On September 20, 1999, Point West Capital Corporation
("Registrant") dismissed KPMG LLP as the Registrant's independent accountants.
The decision to change independent accountants was made by the Registrant's
Board of Directors, upon the recommendation thereof by the Audit Committee of
the Registrant's Board of Directors. The reports of KPMG LLP on the financial
statements of the Registrant for the past two fiscal years contained no adverse
opinion or disclaimer of opinion and were not qualified or modified as to
uncertainty, audit scope or accounting principles. During the Registrant's two
most recent fiscal years and any subsequent interim period, there have been no
disagreements with KPMG LLP on any matter of accounting principles or practices,
financial statement disclosure or auditing scope or procedure, which
disagreements, if not resolved to the satisfaction of KPMG LLP, would have
caused them to make reference thereto in their report on the financial
statements for such years.
The Registrant has delivered a copy of this Form 8-K Report to KPMG
LLP, and KPMG LLP has provided the Registrant with a letter to the effect that
it agrees with the statements made in Item 4(a) of this report. The Registrant
has filed, as an exhibit to this Form 8-K Report, a copy of KPMG LLP's letter.
(b) On September 24, 1999, the Registrant engaged the accounting firm
of Ernst & Young LLP as the Registrant's independent public accountants. During
the Registrant's two most recent fiscal years and any subsequent interim period,
the Registrant did not consult Ernst & Young LLP regarding either (1) the
application of accounting principles to a specified transaction, either
completed or proposed, (2) the type of audit opinion that might be rendered on
the Registrant's financial statements, and neither a written report was provided
to the Registrant nor oral advice was provided that Ernst & Young LLP concluded
was an important factor considered by the Registrant in reaching a decision as
to the accounting, auditing or financial reporting issue or (3) any matter that
was either the subject of a disagreement (as defined in paragraph (a)(1)(iv) of
Item 304 of Regulation S-K and the related instructions to that Item) or a
reportable event (as described in paragraph (a)(1)(v) of Item 304 of Regulation
S-K).
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
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(c) Exhibits
16.1 Letter from KPMG LLP dated September 24, 1999.
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SIGNATURES
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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 thereunto duly authorized.
POINT WEST CAPITAL CORPORATION
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By: /s/Alan B. Perper
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President
Date: September 24, 1999
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EXHIBIT INDEX
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Exhibit
Number Document Description
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16.1 Letter from KPMG LLP dated September 24,
1999
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September 24, 1999
Securities and Exchange Commission
Washington, D.C. 20549
Ladies and Gentlemen:
We were previously principal accountants for Point West Capital Corporation and,
under the date of February 27, 1999, we reported on the consolidated financial
statements of Point West Capital Corporation as of and for the years ended
December 31, 1998 and 1997. On September 20, 1999 our appointment as principal
accountants was terminated. We have read Point West Capital Corporation's
statement included under Item 4 of its Form 8-K dated September 24, 1999, and we
agree with such statements, except that we are not in a position to agree or
disagree with Point West Capital Corporation's statement that the change was
recommended by the Audit Committee of the Board of Directors. We are not in a
position to agree or disagree with Point West Capital Corporation's statement
that Ernst & Young LLP was not engaged regarding the application of accounting
principles to a specified transaction or the type of audit opinion that might be
rendered on Point West Capital Corporation's financial statements.
Very truly yours,
/s/ KPMG LLP
Cc: Mr. J. Ward Rotter
Chief Financial Officer
Point West Capital
1700 Montgomery Street, Suite 250
San Francisco, CA 94111
DFS:mld
