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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): May 28, 1998
JAVELIN SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
0-21477 52-1945748
(Commission File No.) (IRS Employer Identification No.)
1881 Langley Avenue
Irvine, California 92614
(Address of principal executive offices and zip code)
Registrant's telephone number, including area code: (714) 223-5130
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Item 4. Change in Registrant's Certifying Accountant.
(a) Previous independent accountants
(i) On May 28, 1998, the Registrant elected to replace Ernst &
Young LLP ("Ernst & Young") as its independent accountants.
(ii) The reports of Ernst & Young on the Registrant's financial
statements as of June 30, 1996 and 1997 and for each of the years in
the two-year period ended June 30, 1997 contained no adverse opinion
or disclaimer of opinion and were not qualified or modified as to
uncertainty, audit scope or accounting principles.
(iii) The Registrant's audit committee has approved the
Registrant's dismissal of Ernst & Young and the engagement of Price
Waterhouse LLP ("Price Waterhouse") as the Registrant's independent
accountants.
(iv) During the Registrant's two most recent fiscal years and
through May 28, 1998, there have been no disagreements with Ernst &
Young 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 Ernst & Young
would have caused them to make reference thereto in their report.
(v) During the two most recent fiscal years and through May 28,
1998, there have been no reportable events (as defined in Regulation
S-K Item 304(a)(1) (v)) .
(vi) The Registrant has requested that Ernst & Young furnish it
with a letter addressed to the Securities and Exchange Commission
(the "SEC") stating whether or not it agrees with the above
statements.
(b) New independent accountants
(i) The Registrant engaged Price Waterhouse as its new
independent accountants as of May 28, 1998. During the two most
recent fiscal years and through May 28, 1998, the Registrant has not
consulted with Price Waterhouse on items which (1) are described in
Regulation S-K Item 304(a)(2)(i) or (2) concerned the subject matter
of a disagreement or reportable event with the former accountants
(as described in Regulation S-K Item 304(a)(2)(ii)).
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
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16 Letter dated May 29, 1998 from Ernst & Young LLP, the
Registrant's former accountants, to the SEC.
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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 hereunto duly authorized.
Javelin Systems, Inc.
Dated: June 1, 1998 By: /s/ Horace Hertz
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Horace Hertz
Chief Financial Officer
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INDEX TO EXHIBITS
16 Letter dated May 29, 1998 from Ernst & Young LLP, the
Registrant's former accountants, to the SEC.
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EXHIBIT 16
May 29, 1998
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
Gentlemen:
We have read Item 4 of Form 8-K dated May 28, 1998, of Javelin Systems, Inc.
and are in agreement with the statements contained in paragraphs (a)(ii),
(a)(iv), (a)(v), and (a)(vi). We have no basis to agree or disagree with other
statements of the registrant contained therein.
/s/ Ernst & Young LLP
ERNST & YOUNG LLP
