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: January 27, 2000
(Date of earliest event reported)
BONE CARE INTERNATIONAL, INC.
(Exact name of Registrant as specified in its charter)
WISCONSIN 0-27854 39-1527471
(State or other jurisdiction of (Commission (IRS Employer
Incorporation or organization) File Number) Identification Number)
One Science Court
Madison, Wisconsin 53711
(Address of principal executive offices)
(ZIP Code)
608-236-2500
(Registrant's telephone number, including area code)
Item 4. Changes in Registrant's Certifying Accountant.
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(a) Previous Independent Accountant
(i) On January 27, 2000 Bone Care International, Inc. (the "Registrant")
dismissed KPMG LLP ("KPMG") as its independent accountant.
The decision to dismiss KPMG was approved by the Board of Directors
of the Registrant and was not separately voted on by the Audit
Committee of the Board of Directors.
(ii) KPMG reports on the Registrant's financial statements for the
years ended June 30, 1999 and 1998 did not contain an adverse
opinion or a disclaimer of opinion, and were not qualified or
modified as to audit scope or accounting principle; provided,
however, that KPMG's report on the Registrant's financial
statements for the year ended June 30, 1999 contained an
explanatory paragraph relating to the Registrant's ability
to continue as a going concern.
(iii) In connection with the audits of the financial statements
of the Registrant for the years ended June 30, 1999 and 1998,
the Registrant had no disagreements with KPMG on matters of
accounting principles or practices, financial statement
disclosure, or auditing scope or procedure, which disagreements,
if not resolved to the satisfaction of KPMG, would have caused
them to make reference to such disagreements in their report
on the Registrant's financial statements for such years.
During the period from July 1, 1999 through January 27, 2000,
the Registrant had discussions with KPMG related to the
appropriate reserve for sales of Hectorol, Registrant's first
commercially available product. At the time of dismissal of
KPMG, the Registrant had not resolved with KPMG the appropriate
reserve amount for the Registrant's financial statements.
Registrant has authorized KPMG to respond fully to the inquiries
of the independent accountant Registrant engages to succeed KPMG
concerning the appropriate reserve amount.
(iv) During the years ended June 30, 1999 and 1998 and the period from
July 1, 1999 through January 27,2000, there have been no reportable
events (as defined in Regulation S-K item 304(a)(i)(v)).
(v) The Registrant has requested that KPMG furnish it with a letter
addressed to the SEC stating whether or not it agrees with the
statements contained in this Item 4(a). A copy of such letter
shall be filed as an amendment to this Form 8-K within two
business days of its receipt by Registrant.
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.
BONE CARE INTERNATIONAL, INC.
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(Registrant)
Date: February 1, 2000
/s/ Richard B. Mazess
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Richard B. Mazess
Chairman and Director
