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) January 19, 1996
UNIVERSAL SECURITY INSTRUMENTS, INC.
(Exact name of Registrant as specified in charter)
Maryland
(State or other jurisdiction of
incorporation or organization)
0-7885
(Commission File Number)
52-0898545
(I.R.S. Employer Identification Number)
10324 South Dolfield Road
Owings Mills, MD 21117
(410) 363-3000
(Address, including zip code and telephone number, including area code, of
Registrant's principal executive offices)
Not Applicable
(Former name or former address of Registrant, if changed since last report)
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INFORMATION TO BE INCLUDED IN THE REPORT
Item 4. Changes in Registrant's Certifying Accountant.
Prior to the date hereof, Universal Security Instruments, Inc. (the
"Company") had engaged the accounting firm of Ernst & Young LLP to audit the
Company's annual financial statements. In connection with the Company's
annual review of accounting and auditing services for the Company, the
Company received proposals from accounting firms to serve as the Company's
independent certified public accountants and auditors. After evaluating
these proposals, the Board of Directors of the Company has determined to
engage the accounting firm of Deloitte & Touche LLP to serve as the
Company's independent certified public accountants and auditors commencing
with the fiscal year ending March 31, 1996. As a result, on January
19, 1996, Deloitte & Touche LLP was retained as the Company's independent
certified public accountants to provide accounting and auditing services for
the Company, and the services of Ernst & Young LLP were terminated.
Ernst & Young LLP's report on the annual financial statements of
the Company for the prior fiscal years ending March 31, 1994 and 1995 did
not contain an adverse opinion or a disclaimer of opinion, and was not
qualified or modified as to uncertainty, audit scope or accounting
principles. In addition, the Company and Ernst & Young LLP did not have any
disagreement on any matter of accounting principles or practices, financial
statement disclosure, or auditing scope or procedure, which disagreement,
if not resolved to the satisfaction of Ernst & Young LLP, would have caused
it to make reference to the subject matter of the disagreement in connection
with its report on the annual financial statements of the Company.
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.
UNIVERSAL SECURITY INSTRUMENTS, INC.
Date: January 22, 1996 By: Michael Kovens
Michael Kovens, President
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EXHIBIT INDEX
Exhibit
Number Description of Exhibits Page
1 Letter of Ernst & Young LLP 3
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January 19, 1996
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
Gentlemen:
We have read Item 4 of Form 8-K dated January 19, 1996, of Universal
Security Instruments, Inc. and are in agreement with the statements
contained in the second paragraph on page 1 therein. We have no basis to
agree or disagree with other statements of the registrant contained
therein, other than our agreement as to the fact that we previously had a
client-auditor relationship that was terminated on January 17, 1996.
Ernst & Young LLP
