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
October 30, 1997
(Date of Report)
ADVANCED AERODYNAMICS & STRUCTURES, INC.
(Exact Name of Registrant as Specified in its Charter)
Commission File No. 000-21749
California
(State or Other Jurisdiction
of Incorporation)
95-4257380
(IRS Employer Identification No.)
3501 Lakewood Boulevard
Long Beach, California 90808
(Address of Principal Executive Offices)
(562) 938-8618
(Registrant's Telephone No.)
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Item 4. Changes in Registrant's Certifying Accountant.
(a) Previous independent accountants.
(1) On October 24, 1997, the Registrant dismissed Price Waterhouse LLP as
its independent accountants.
(2) The report of Price Waterhouse LLP on the financial statements for the
past fiscal year contained no adverse opinions or disclaimer of opinion and was
not qualified or modified as to uncertainty, audit scope or accounting
principle. The report for the fiscal year 1995 contained a modification relating
to the Registrant's ability to continue as a going concern.
(3) The Registrant's Audit Committee and Board of Directors participated in
and approved the decision to change independent accountants.
(4) In connection with its audits for the two most recent fiscal years and
through October 24,1997, there have been no disagreements with Price Waterhouse
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 Price Waterhouse LLP would have caused them to make
reference thereto in their report on the financial statement for such years.
(5) The Registrant has requested that Price Waterhouse LLP furnish it with
a letter addressed to the SEC stating whether or not it agrees with the above
statements. A copy of such letter, dated October 30, 1997, is filed as Exhibit
16 to this Form 8-K.
(b) New independent accountants.
(1) The Registrant engaged Ernst & Young LLP as its new independent
accountants as of October 24, 1997.
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.
Dated: October 30, 1997 ADVANCED AERODYNAMICS & STRUCTURES, INC.
By: /s/ Carl L. Chen
------------------------------------
Carl L. Chen, President
October 30, 1997
Securities and Exchange Commission
450 5th Street, NW
Washington, D.C. 20549
Ladies and Gentlemen:
Advanced Aerodynamics & Structures,Inc.
We have read Item 4 of Advanced Aerodynamics & Structures, Inc.'s Form 8-K
dated October 30, 1997. With respect to paragraph 4(a)(1), it should be noted
that the company notified us on October 24, 1997 of our dismissal effective
October 20, 1997. We are in agreement with the statements contained in
paragraphs 4(a)(2)-(5).
Yours very truly,
Price Waterhouse LLP
