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: June 20, 1997
PHARMASYSTEMS HOLDINGS CORP.
(Exact name of Registrant as specified in its charter)
Colorado 0-21851 84-1189040
(State or Other (Commission File No.) (IRS Employer
jurisdiction of incorporation) Identification Number)
7350 NW 7th Street, Suite 104, Miami, Florida 33126
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code: (305) 267-9500
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Item 4. Changes in Registrant's Certifying Accountant
On June 20, 1997, PharmaSystems Cost Containment Corp., a privately
held company ("PCCC"), was merged into the registrant, PharmaSystems Holdings
Corp. (the "Company"). Prior to the merger, the independent auditors of the
Company (then named Euro-Tel, Inc.) were Kish, Leake & Associates, P.C. ("KL&A")
and the independent auditors of PCCC were BDO Seidman, LLP. Subsequent to the
merger, the independent auditors of the Company were BDO Seidman, LLP. The
change in the Company's independent auditors was approved by the Company's Board
of Directors.
KL&A's report upon the Company's financial statements as of September
30, 1996, for the fiscal years ended September 30, 1996 and 1995 and for the
period November 26, 1991 (inception) through September 30, 1996 did not contain
an adverse opinion or a disclaimer of opinion, nor was such report qualified or
modified as to uncertainty, audit scope or accounting principles, except the
report stated that such financial statements were prepared assuming that the
Company will continue as a going concern. During the Company's two fiscal years
ended September 30, 1996 and the interim period from October 1, 1996 to June 20,
1997 (the "Interim Period"): (i) there were no disagreements (of the nature
contemplated by Item 304(a)(1)(iv) of Regulation S-K) between the Company and
KL&A; and (ii) there were no reportable events of the nature contemplated by
Item 304(a)(1)(v)(A)-(D) of Regulation S-K. During the Company's two fiscal
years ended September 30, 1996 and the Interim Period the Company did not
consult with BDO Seidman, LLP with respect to any of the matters contemplated by
Item 304(a)(2)(i)-(ii) of Regulation S-K.
Item 7. Financial Statements, Pro-Forma Information and Exhibits
(a) Financial Statements of Businesses Acquired
Not Applicable
(b) Proforma Financial Information
Not Applicable
(c) Exhibits
Exhibit 16 - Letter from Kish, Leake & Associates, P.C.
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
Dated: March 26, 1998 PHARMASYSTEMS HOLDINGS CORP.
(registrant)
By: /s/ Aurelio E. Alonso__________
Aurelio E. Alonso
Executive Vice President and
Chief Financial Officer
[Kish o Leake & Associates, P.C. Letterhead]
March 25, 1998
Office of the Chief Accountant
SECPS Letter File
Securities and Exchange Commission
Mail Stop 9-5
450 Fifth Street, N.W.
Washington, D.C. 20549
We would like to inform you that we have read the disclosures provided by
Pharmasystems Holdings Corp., f/k/a Euro-Tel, Inc. (Comm. Number 0-21851) in its
filing of form 8-K dated June 20, 1997 and that there are no disagreements
regarding the statements made under Item 4-Changes in Registrant's Certifying
Accountant.
Sincerely,
/s/ Kish, Leake & Associates, P.C.
Kish, Leake & Associates, P.C.
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