SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) MARCH 13, 2000
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YP.NET.INC
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)
NEVADA 0-24217 85-026668
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(STATE OR OTHER (COMMISSION (IRS EMPLOYER
JURISDICTION FILE NUMBER) IDENTIFICATION NO.)
OF INCORPORATION)
4840 EAST JASMINE STREET, SUITE 110, MESA, ARIZONA 85205
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (480) 654-9646
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N/A
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(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
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Item 4. Changes in Registrant's Certifying Accountant
On March 9, 2000, McGladrey & Pullen, LLP, confirmed in a letter to
Registrant that the client-auditor relationship "has ceased." This results
From Registrant's prior notification to McGladrey & Pullen, LLP. on or about
March 8, 2000, dismissing the auditor. There were no disagreements with
Registrant's auditor prior to or at the time of dismissal.
McGladrey & Pullen was originally retained on or about Dec 6, 1999, to
Perform Registrant's September 30, 1999, fiscal year audit at which time the
auditor's estimated costs were $150,000 which was paid in full.
Registrant's previous audit or the fiscal year ended Sept 30, 1998, had
Been performed by Singer Lewak Greenbaum & Goldstein, LLP, without incident.
McGladrey & Pullen, LLP was thereafter retained in due course as Registrant's
auditor to prepare year end financial statements for inclusion in Registrant's
Form-10-KSB Annual Report for the fiscal year ended September 30, 1999.
On or about January 7, 1999, McGladrey & Pullen, LLP, required that an
additional $150,000 be paid to the auditor to complete Registrant's 1999 audit
although the auditor not as yet rendered a trial balance for Registrant's
consideration.
On or about February 15, 2000, McGladrey & Pullen, LLP, indicated to
Registrant verbally and in writing that certain specific accounting
misstatements had appeared in a report previously filed by Registrant with the
SEC. Upon learning of the nature of the misstatements, and after verifying
same, on or about February 21, 2000, Registrant filed Form 8-K with the SEC
disclosing the nature and extent of the prior misstatements, as to which
there was no management disagreement.
On or about March 2, 2000, McGladrey & Pullen, LLP, had not yet presented a
trial balance to Registrant, but required Registrant to pay an additional sum
of $32,463 for professional services previously performed, over and above the
$300,000 previously paid by Registrant. At that time McGladrey & Pullen, LLP,
also estimated that significant additional charges would accrue to complete the
audit.
No opinion, adverse or otherwise, has been given by Registrant's auditors,
as no report has been created by Registrant's auditors to date. There have
been no disagreements with Registrant's auditors as to the scope of the audit
undertaken or as to any financial statement disclosures suggested by the auditor
and Registrant's Board of Directors has affirmatively instructed McGladrey &
Pullen, LLP, to respond fully to any inquiries received from the independent
Auditor selected by Registrant to succeed McGladrey & Pullen, LLP. The
decision to terminate McGladrey & Pullen, LLP as Registrant's auditor was
made by Registrant's Audit Committee and affirmed by Registrant's Board of
Directors.
Registrant is presently seeking to retain an independent auditor to
Replace McGladrey & Pullen, LLP, and to prepare its financial statements for
the fiscal year ended September 30, 1999.
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.
YP.Net.Inc.
Date: March 14, 2000 By: /s/ Angelo Tullo
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Angelo Tullo, Chairman
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