UNITED STATES
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: May 19, 2000
Chattown.com Network, Inc.
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation or organization)
0-22373 58-2027283
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(Commission File Number) (IRS Employer Identification Number)
c/o Thomas Clay, President
200 South Washington Boulevard, Suite 9
Sarasota, Florida 34236
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(Address of principal executive offices)
(941) 957-1009
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(Registrant's telephone number, including area code)
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ITEM 4. Changes in Registrant's Certifying Accountant
On May 17, 2000, Chattown.com Network, Inc. ("the Company" formerly known as
Vaxcel, Inc.) dismissed Tanner + Co. ("Tanner"), the principal accountant
previously engaged to audit the Company's financial statements. Effective May
17, 2000, the Company retained Bobbitt, Pittenger& Company ("Bobbitt") as the
principal accountants to replace Tanner. The Company's audit committee and board
of directors approved the change of accountants from Tanner to Bobbitt.
The audit reports of Tanner on the Company's financial statements for the fiscal
year ending December 31, 1999 did not contain any adverse opinion or disclaimer
of opinion, nor were they qualified or modified as to uncertainty, audit scope,
or accounting principles, except such reports were modified to include an
explanatory paragraph for a going concern uncertainty.
In connection with the audits of the fiscal year ending December 31, 1999 and
the subsequent interim periods through May 17, 2000, the date of termination,
the Company had no disagreements with Tanner on any matter of accounting
principles or practices, financial statement disclosure, or auditing scope or
procedures, which disagreements, if not resolved to their satisfaction, would
have caused Tanner to make reference in connection with their opinion to the
subject matter of the disagreement. In addition, during that time there were no
reportable events (as defined in Item 304(a)(1)(iv) of Regulation S-B).
During the fiscal year ending December 31, 1999, and the subsequent interim
period through May 17, 2000, the date of termination, and prior to such
appointment, the Company did not consult with Bobbitt regarding the application
of generally accepted accounting principles to a specific transaction, either
proposed or completed, or the type of audit opinion that might be rendered on
the Company's consolidated financial statements. Since there were no
disagreements or reportable events (as defined in Item 304(a)(2) of Regulation
S-B), the Company did not consult Bobbitt in respect to these matters during
that time.
The Company provided Tanner with a copy of this amended report prior to filing
it with the SEC. The Company requested that Tanner furnish the Company with a
letter to the SEC stating whether Tanner agrees with the above statements. A
copy of that letter dated May 17, 2000 is filed as Exhibit 1 to this Form 8-K.
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ITEM 7. Financial Statements and Exhibits
The following exhibit(s) are included as part of this report:
a) Letter from Tanner + Co. dated May 17, 2000, relating to its dismissal
as the Registrant's independent auditors (SEC Reference Number 16).
Pursuant to the requirement of the Securities Act of 1934, the Registrant
has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
Chattown.com Network, Inc.
Signature Date
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By: /s/ Thomas Clay May 19, 2000
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Name: Thomas Clay
Title: President
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[TANNER +CO.
675 EAST 500 SOUTH, SUITE 640
SALT LAKE CITY, UTAH 84102
PHONE: 801-532-7444
FAX: 801-532-4911
EMAIL [email protected]]
May 17, 2000
Office of The Chief Accountant
Securities and Exchange commission
450 Fifth Street, NW
Washington, D.C. 20549
Re: Chattown.com Network, Inc. (formerly Vaxcel, Inc.)
Ladies and Gentlemen:
We were previously principal accountants for Chattown.com Network, Inc.
(formerly Vaxcel, Inc.) And, under the date of March 17, 2000, we reported on
the consolidated financial statements of Chaftown.com Network, Inc. (formerly
Vaxcel, Inc.) as of and for the year ended December 31, 1999. On May 17, 2000,
our services were terminated. We have read Chattown.com Network, Inc.'s
(formerly Vaxcel, Inc.) statements included under Item 4 of its Form 8-K dated
May 17, 2000, and we agree with such statements, except that we are not in a
position to agree or disagree with Chattown.com Network, Inc-'s (formerly
Vaxcel, Inc.) statement that they have engaged Bobbitt, Pittenger & Company as
independent certified public accountants and that such engagement was ratified
by the audit committee and Board of Directors.
Very truly yours,
/s/ Tanner + Co.
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Tanner + Co.
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