SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Act of 1934
Date of earliest event reported: October 8, 1997
AMERICAN CHAMPION ENTERTAINMENT, INC.
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(Exact name of registrant as specified in it charter)
Delaware 333-18967 94-3261987
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(State of incorporation) (Commission (I.R.S. Employer
File Number) Identification Number)
26203 Production Avenue, Suite 5, Hayward, California 94545
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(Address of principal executive offices)
Registrant's telephone number, including area code: (510) 782-8168
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Exhibit Index at Page 4
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Item 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
Effective October 8, 1997, the Board of Directors (the "Board") of
American Champion Entertainment, Inc. (the "Registrant"), has
determined that Moore Stephens, P.C. ("Moore Stephens"), will no
longer be acting as the Registrant's principal accountant.
Moore Stephens' report on the Registrant's financial statements for
the past two years did not contain an adverse opinion or a
disclaimer of opinion and was not modified as to audit scope or
accounting principles; however, Moore Stephens' report on the
financial statements of America's Best Karate, predecessor to the
Registrant, dated January 31, 1997, did include a modification of
the auditors' standard report, noting that certain factors raised
substantial doubt about America's Best Karate's ability to continue
as a going concern. During Registrant's two most recent fiscal years
and any subsequent interim period, there were no disagreements
between Registrant and Moore Stephens on any matter of accounting
principles or practices, financial statement disclosure, or auditing
scope or procedures, which disagreements, if not resolved to the
satisfaction of Moore Stephens, would have caused it to make a
reference to the subject matter of the disagreements in connection
with its report.
Effective October 8, 1997, Registrant engaged Moss-Adams LLP
as its principal accountant. Such engagement was approved by the
Registrant's Board of Directors. During Registrant's two most
recent fiscal years and any subsequent interim period through
October 8, 1997, Registrant did not consult Moss-Adams LLP
regarding the application of accounting principals to a specified
transaction, the type of audit opinion that might be rendered on
Registrant's financial statements or any matter that was the
subject of disagreement or a reportable event.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
The following exhibit is filed as part of this report:
(c) EXHIBITS.
16. Letter re Change in Certifying Accountant.
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Pursuant to the requirements of the Securities Exchange Act of 1934, Registrant
has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
AMERICAN CHAMPION ENTERTAINMENT, INC.
Date: October 14, 1997 By: /s/ Anthony K. Chan
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Anthony K. Chan
Chief Executive Officer
and President
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Exhibit Index
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No. Exhibit Page
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16 Letter re Change in Certifying Accountant dated 5
October 14, 1997 by Moore Stephens, P.C.
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EXHIBIT 16
MOORE STEPHENS, P.C.
340 North Avenue East, Suite 6
Granford, N.J. 07016-2496
October 14, 1997
Securities and Exchange Commission
Mail Stop 9-5
450 5th Street, N.W.
Washington, D.C. 20549
Ladies and Gentlemen:
We have read and agree with the comments in Item 4 of Form 8-K of
American Champion Entertainment, Inc., dated October 14, 1997.
Yours truly,
/s/ Moore Stephens, P.C.
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