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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
February 17, 2000
Commission File Number 0-23693
COMPOSITE AUTOMOBILE RESEARCH, LTD.
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(Name of Small Business Issuer in Its Charter)
Alberta, BC 93-1202663
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(State of Incorporation) (I.R.S. Employer Identification No.)
635 Front Street, El Cajon, California 92020
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(Address of Principal Executive Offices) (Zip Code)
(619) 444-7254
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(Registrant's telephone number, including area code)
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ITEM 1 CHANGES IN CONTROL OF REGISTRANT.
None
ITEM 2 ACQUISITION OR DISPOSITION OF ASSETS.
None
ITEM 3 BANKRUPTCY OR RECEIVERSHIP.
None
ITEM 4 CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
As previously reported in the Company's Form 8-K filing of May 17, 1999,
on May 3, 1999, the Company's auditors, Harlan & Boettger, LLP resigned
as the Company's independent auditors. As previously reported, for the
two years ended December 31, 1996 and 1997, there were no disagreements
with Harlan & Boettger, LLP on any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or
procedure or any reportable events. The audit report of Harlan &
Boettger, LLP on the financial statements for the two years ended
December 31, 1996 and 1997 contained no adverse opinion or disclaimer of
opinion and was not qualified or modified as to audit scope or
accounting principles.
On August 23, 1999, the Board of Directors approved the engagement of
S.W. Hatfield, Certified Public Accountants to perform the audit of the
Company's financial statements for the year ended December 31, 1998. On
August 30, 1999, S.W. Hatfield, Certified Public Accountants resigned as
the Company's independent auditors as the Company had not completed its
year end bookkeeping responsibilities as agreed. S.W. Hatfield,
Certified Public Accountants provided no auditing services to the
Company.
As previously reported in the Company's Form 8-K filing of September 28,
1999, on September 8, 1999, the Board of Directors approved the
engagement of J. H. Cohn, LLP as its independent public accountants to
perform the audit of the Company's financial statements for the year
ended June 30, 1999.
The Company has requested that S.W. Hatfield, Certified Public
Accountants furnish it with a letter addressed to the SEC stating
whether it agrees with the above statements as they pertain to S.W.
Hatfield, Certified Public Accountants. A copy of S.W. Hatfield,
Certified Public Accountants' resignation letter to the Company dated
September 8, 1999, is filed as Exhibit 16 to the Company's Form 8-K.
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ITEM 5 OTHER EVENTS.
None
ITEM 6 RESIGNATIONS OF REGISTRANT'S DIRECTORS
None
ITEM 7 FINANCIAL STATEMENTS AND EXHIBITS
Exhibit 16 S.W. Hatfield, Certified Public Accountants' resignation
letter
ITEM 8 CHANGE IN FISCAL YEAR
None
SIGNATURES
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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.
COMPOSITE AUTOMOBILE RESEARCH, LTD.
Date: February 17, 2000 /s/ LYLE WARDROP
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Lyle Wardrop,
President, Director
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EXHIBIT 16
[S.W. HATFIELD LETTERHEAD]
September 8, 1999
Board of Directors
i/c/o Mr. Thomas Bowers, President and Chief Executive Officer
COMPOSITE AUTOMOTIVE RESEARCH, LTD.
WORLD TRANSPORT AUTHORITY, INC.
635 Front Street
El Cajon, CA 92020
Gentlemen:
Based upon the representations made and related events which occurred on Monday,
August 30, 1999, we hereby resign as auditors for Composite Automotive Research,
Ltd. and Subsidiaries, effective immediately.
We hereby confirm that the client-auditor relationship between Composite
Automotive Research, Ltd. (Commission File # 0-23693) and S.W. Hatfield, CPA has
ceased.
Very truly yours,
S.W. HATFIELD, CPA
/s/ Scott W. Hatfield
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Scott W. Hatfield, CPA
SWH/
cc: Office of the Chief Accountant
SECPS Letter File
Securities and Exchange Commission
Mail Stop 9-5
450 Fifth Street, NW
Washington, DC 20549
