UNITED STATES
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): October 6, 1998
GRAND COURT LIFESTYLES, INC.
(Exact name of registration as specified in its charter)
Delaware 0-21249 22-3423087
(State or other (Commission file (I.R.S. Employer
jurisdiction of number) Identification No.)
incorporation or
organization)
2650 North Military Trail, Suite 350, Boca Raton, Florida 33431
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (561) 997-0323
<PAGE>
Item 4 - Change in Registrant's Certifying Accountant
--------------------------------------------
On October 6, 1998, based upon the recommendation of
its audit committee, the Board of Directors of Grand Court
Lifestyles, Inc. voted to appoint BDO Seidman, LLP as the
Company's independent accountants for the year ending January 31,
1999. The Company chose not to continue the engagement of
Deloitte & Touche LLP, present independent accountants.
The reports of Deloitte & Touche LLP on the Company's
financial statements for each of the two most recent fiscal years
ended January 31, 1998 did not contain any adverse opinion or
disclaimer of opinion, nor were the reports qualified in any
manner.
During fiscal 1996 and 1997 and the period from January
31, 1998 to October 6, 1998, there were no disagreements with
Deloitte & Touche LLP on any matter of accounting principle or
practice, financial statement disclosure or auditing scope or
procedure. During this period, there were no "reportable events"
as that term is defined in Item 304(a)(1)(v) of Regulation S-K.
The Company has requested and received from Deloitte &
Touche LLP a letter dated October 13, 1998 addressed to the
Securities and Exchange Commission stating that it agrees with
the above statements for fiscal 1996 and 1997 and the period from
January 31, 1998 to October 6, 1998. A copy of the Deloitte &
Touche LLP letter is attached as an exhibit to this report.
On October 9, 1998, the Company engaged BDO Seidman,
LLP as its principal accountants to audit the financial
statements for the year ending January 31, 1999. During fiscal
1996 and 1997 and the period from January 31, 1998 to October 9,
1998, the Company has not consulted BDO Seidman, LLP on items
which concerned the application of accounting principles
generally, or to a specific transaction or group of transactions,
either completed or proposed, or the type of audit opinion that
might be rendered on the Company's financial statements.
Item 7 - Financial Statements, Pro Forma Financial Information
-----------------------------------------------------
and Exhibits
------------
(c) Exhibits
Exhibit No. Description
----------- -----------
16 Letter regarding Change in
Certifying Accountant
-2-
<PAGE>
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 thereunto duly
authorized.
GRAND COURT LIFESTYLES, INC.
----------------------------
(Registrant)
Date: October 13, 1998 /s/ Bernard M. Rodin
------------------------------
Bernard M. Rodin
Principal Financial Officer
-3-
<PAGE>
EXHIBIT INDEX
Number Description
------ -----------
16 Letter regarding Change in
Certifyng Accountant
-4-
EXHIBIT 16
Deloitte &
Touche LLP Two World Financial Center
New York, New York 10281-1414
October 13, 1998
Office of the Chief Accountant
SECPS Letter Files
Securities and Exchange Commission
Mail Stop 9-5
450 5th Street, N.W.
Washington, D.C. 20549
Dear Sirs/Madams:
We have read and agree with the comments in Item 4 of Form 8-K of
Grand Court Lifestyles, Inc. dated October 13, 1998.
Yours truly
Deloitte & Touche LLP
cc: Mr. Walter Feldesman, Audit Committe Member
Mr. Leslie E. Goodman, Audit Committee Member
Mr. John Luciani, Chairman of the Board
Mr. Bernard Rodin, Chief Financial Officer
