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U. S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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): April 20, 1999
MODACAD, INC.
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(Exact name of registrant as specified in its charter)
California 33-31166 95-4145930
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(State or other jurisdiction of (Commission (IRS Employer
incorporation or organization) File Number) Identification No.)
3861 Sepulveda Blvd., Culver City 90230
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (310) 751-2100
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Not Applicable
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(Former name or former address, if changed since last report)
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Item 4. Changes in Registrant's Certifying Accountant
(a) Previous independent accountants
(i) On April 19, 1999, ModaCAD, Inc. ("ModaCAD") dismissed
Singer Lewak Greenbaum & Goldstein LLP ("SLGG") as its
independent accountants.
(ii) The reports of SLGG on the financial statements of ModaCAD
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 principle.
(iii)ModaCAD's Audit Committee participated in and approved the
decision to change independent accountants.
(iv) In connection with its audits for the two most recent fiscal
years and through April 19, 1999, there have been no
disagreements with SLGG 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 SLGG would have caused it to
make reference thereto in its report on the financial
statements for such years.
(v) During the two most recent fiscal years and through April
19, 1999, there have been no reportable events (as defined
in Regulation S-K Item 304(a)(1)(v)) ("Reportable Events").
(vi) ModaCAD has provided SLGG with a copy of the disclosures
herein and has requested that SLGG furnish it with a letter
addressed to the Securities and Exchange Commission ("SEC")
stating whether or not it agrees with such disclosures. A
copy of such letter, dated April 20, 1999, is filed as
Exhibit 16 to this Form 8-K.
(b) New independent accountants
(i) ModaCAD engaged Ernst & Young LLP as its new independent
accountants as of April 19, 1999. During the two most recent
fiscal years and through April 19, 1999, neither ModaCAD nor
any agent acting on ModaCAD's behalf has consulted with
Ernst and Young LLP on any matter that was either the
subject of a disagreement (as defined in paragraph
304(a)(1)(iv) of Regulation S-K) or a Reportable Event.
Ernst & Young LLP has been provided with a copy of the
disclosures herein, has been requested to review such
disclosures and has been provided with the opportunity to
furnish ModaCAD with a letter addressed to the SEC
containing any new information, clarification or discussion
on the respects in which Ernst & Young LLP does not agree
with the statements made herein.
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tem 7. Financial Statements and Exhibits
(a) Financial statements
Not applicable
(b) Pro forma financial information
Not applicable
(c) Exhibit
16. Letter from Singer Lewak Greenbaum & Goldstein LLP to the SEC
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Exhibit 16
April 20, 1999
Securities and Exchange Commission
Washington, D.C. 20549
Re: ModaCAD, Inc.
File No. 95-4145930
Dear Sir or Madam:
We have read Item 4 of the Form 8-K of ModaCAD, Inc. dated April 20, 1999, and
agree with the statements contained therein.
Very truly yours,
SINGER LEWAK GREENBAUM & GOLDSTEIN LLP
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SIGNATURE
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.
ModaCAD, INC.
Date: April 20, 1999 By: /s/ LEE FREEDMAN
Lee Freedman
Vice President, Finance and
Chief Financial Officer
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