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
September 12, 1997
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Date of Report
(Date of Earliest Event
Reported)
PHARMASYSTEMS HOLDINGS CORP.
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(Exact Name of Registrant as Specified in
its Charter)
Colorado 0-21851 84-1189040
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(State or other (Commission File No.) (IRS Employer I.D.
Jurisdiction of No.)
Incorporation)
7350 N.W. 7th Street, Suite 104
Miami, Florida 33126
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(Address of Principal Executive
Offices)
Registrant's Telephone Number, Including Area Code: (305) 267-9500
EURO-TEL, INC.
2851 South Parker Road, Suite 720
Aurora, Colorado 80014
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(Former Name or Former Address, if Changed Since Last
Report)
<PAGE>
ITEM 5. OTHER EVENTS.
Certain information has come to the Registrant's attention which indicates
that revisions to previously filed financial statements of the Registrant and a
predecessor entity, PharmaSystems Cost Containment Corp. ("PCCC"), will be
required. The Registrant is diligently investigating this situation and will
take all possible steps to ensure that all necessary revisions to any financial
statements and any corresponding amendments to public securities filings are
made as soon as possible. In connection with this situation the Registrant's
outside auditors have withdrawn their audit report which had been issued in
connection with PCCC's financial statements as of December 31, 1996 and 1995,
for the year ended December 31, 1996 and for the nine months ended December 31,
1995, pending resolution of these issues.
The Registrant has determined that revisions to the financial statements
contained in the Registrant's Form 8-K/A which was filed with the Securities and
Exchange Commission on July 14, 1997 will be required. Revisions to financial
statements may also be required as an amendment to the Registrant's Form 10-QSB
for the quarterly period ended June 30, 1997, which was filed with the
Securities and Exchange Commission on August 19, 1997.
The Registrant is taking all necessary steps to ensure that none of its
securities are sold or traded until this situation is satisfactorily resolved
and all public securities filings are amended accordingly.
The Registrant will also issue a press release which describes this
situation.
<PAGE>
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.
Date: September 12, 1997 PHARMASYSTEMS HOLDINGS CORP.
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(Registrant)
/s/ Aurelio E. Alonso
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(Signature)
Name: Aurelio E. Alonso
Its: Executive Vice President and
Chief Financial Officer
