SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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 29, 1999
TURBODYNE TECHNOLOGIES INC.
(Exact Name of Registrant as Specified in Charter)
Delaware 0-21391 95-4699061
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
21700 Oxnard Street, Suite 1550
Woodland Hills, CA 91367
(Address of Principal Executive Offices)
(818) 593-2282
(Registrant's Telephone Number)
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ITEM 4. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT
On November 29, 1999 KPMG resigned as the principal accountant to audit the
Company's financial statements, beginning with its financial statements for the
year ending December 31, 1999.
The reports of KPMG on the financial statements for the years ended December 31,
1998 and December 31, 1997 did not contain any adverse opinion or a disclaimer
of opinion and were not qualified or modified as to uncertainty, audit scope or
accounting principles.
During the Company's fiscal years ended December 31, 1998 and December 31, 1997,
and each interim period subsequent to December 31, 1998 preceding KPMG's
resignation, there were no disagreements between the Company and KPMG on any
matter of accounting principles or practices, financial statement disclosure, or
auditing scope or procedure, which disagreement(s), if not resolved to the
satisfaction of KPMG, would have caused KPMG to make reference to the subject
matter of the disagreement (s) in connection with its report on the Company's
financial statements. KPMG did not review the Company's Quarterly Reports on
Form 10-Q for the quarterly periods ending September 30, 1999 and June 30, 1999.
The Company requested that KPMG furnish a letter addressed to the Securities and
Exchange Commission stating whether it agrees with the statements made by the
Company, and, if not, stating the respects which it does not agree. As of the
date of filing of this report on Form 8-K, the Company has not yet received such
letter.
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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.
December 4, 1999 TURBODYNE TECHNOLOGIES INC.
By: /s/ JOSEPH CASTANO
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Joseph Castano
Chief Financial Officer
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EXHIBIT INDEX
EXHIBITS PAGE NUMBER
16 November 29, 1999 letter regarding resignation of
Certifying Accountant.
Page 1
EXHIBIT 16
November 29, 1999
Mr. Joseph D. Castano
Chief Financial Officer
Turbodyne Technologies Inc.
6155 Carpinteria Avenue
Carpinteria, California 93013
Dear Mr. Castano:
This is to confirm that the client-auditor relationship between Turbodyne
Technologies Inc. and subsidiaries and KPMG has ceased.
Very Truly Yours,
KPMG LLP
cc:
Chief Accountant--Securities Exchange Commission
Mr. Ed Halimi--Turbodyne Technologies Inc.
