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) November 1, 2000
ULTIMATE FRANCHISE SYSTEMS, INC.
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(Name of Small Business issuer in its charter)
COLORADO 0-23545 84-1317674
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(State or other jurisdiction of (Commission File No.) (IRS Employer
incorporation or organization) Identification No.)
2101 W. State Road 434
Suite 100
Longwood, FL 32779
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(Address of principal executive offices)
(407) 682-6363
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(Registrant's telephone number)
Jreck Subs Group, Inc.
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(Registrant's Former Name)
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Item 4. Changes in Registrant's Certifying Accountant.
(a) Effective October 24, 2000 the Company appointed Berman, Hopkins,
Wright and LaHam, CPA's, LLP as independent accountants for the fiscal year
ended September 30, 2000. The decision to dismiss Pender Newkirk & Company was
approved by the audit committee acting pursuant to the authority delegated by
the Company's Board of Directors.
Pender Newkirk & Company's report on the consolidated financial of
Ultimate Franchise Systems, Inc. (formerly JRECK Subs Group, Inc.) as of and for
the nine months ended September 30, 1999 contained no adverse opinion or
disclaimer of opinion, and was not qualified or modified as to uncertainty,
audit scope or accounting principles.
During the nine months ended September 30, 1999 and in the subsequent
interim period to the date hereof, there were no disagreements between Ultimate
Franchise Systems, Inc. and Pender Newkirk & Company on any matters of
accounting principles or practices, financial statement disclosure or auditing
scope or procedure, which disagreements, if not resolved to the satisfaction of
Pender Newkirk & Company would have caused it to make a reference to the subject
matter of the disagreements in connection with its reports.
The Company has provided Pender Newkirk & Company, prior to the filing
of the Form 8-K with the Commission, a copy of the disclosures made in this Item
4(a).
(b) Effective October 24, 2000 the Company engaged Berman, Hopkins,
Wright and LaHam, CPA's, LLP as its new independent accountants to audit the
Company's financial statements. During the period that Pender Newkirk & Company
served as independent auditor, including all the interim periods, the Company
(or someone on its behalf) never consulted Berman, Hopkins, Wright and LaHam,
CPA's, LLP regarding any matter.
Item 7. Exhibits.
Exhibit No. Description
16.1 Letter from Pender Newkirk & Company to the Securities
and Exchange Commission
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SIGNATURES
In accordance with all the requirements of the Exchange Act, the registrant has
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
Ultimate Franchise Systems, Inc.
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(Registrant)
President &
11/01/00 Christopher M. Swartz Duly Authorized Officer Christopher M. Swartz
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Date Print Name Title Signature
Chief Financial Officer
11/01/00 Michael F. Cronin Principal Accounting Officer Michael F. Cronin
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Date Print Name Title Signature
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