SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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): May 11, 2000
GLOBAL SOURCES LIMITED
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(Exact Name of Registrant as Specified in Charter)
DELAWARE 333-41389 13-4020643
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File No.) Identification No.)
342 Madison Avenue, Suite 942 New York, New York 10173
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (212) 687-6363
Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
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ITEM 4. CHANGES IN CERTIFYING ACCOUNTANT
On May 4, 2000, Ahearn Jasco + Company, P.A. ("Ahearn Jasco") resigned
as the independent accountant for Global Sources Limited (the "Company")
(formerly First Sunrise, Inc. ("First Sunrise")). Ahearn Jasco was the
accountant to First Sunrise, the predecessor company to the surviving entity,
before and during the merger between First Sunrise and Platinum Executive
Search, Inc. that took effect on December 9, 1999 (hereinafter "the Merger") and
created the Company. Prior to the Merger, First Sunrise was an inactive
corporation. The Company has active operations centered in the New York City
metropolitan area. Ahearn Jasco believes that the Company would be better served
by an accountant with a geographic presence in the New York City metropolitan
area. The Company has not yet identified or engaged a new independent
accountant. Ahearn Jasco's report on the financial statements of First Sunrise
for fiscal year ending December 31, 1998 did not contain any adverse opinion or
a disclaimer of opinion, and was not qualified or modified as to uncertainty,
audit scope or accounting principles. During fiscal year ending December 31,
1998 and the subsequent interim period preceding the resignation of Ahearn
Jasco, there were no disagreements with Ahearn Jasco regarding any matters of
accounting principles or practices, financial statement disclosure or auditing
scope or procedure, which disagreements, if not resolved to the satisfaction of
Ahearn Jasco, would have caused Ahearn Jasco to make reference to the subject
matter of the disagreements in connection with its report. The Company requested
that Ahearn Jasco furnish it with a letter addressed to the Securities and
Exchange Commission stating whether it agrees with the above statements. The
letter, dated May 11, 2000 has been filed as an exhibit to this current report
on Form 8-K.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, as amended, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
Dated: May 11, 2000
GLOBAL SOURCES LIMITED,
a Delaware Corporation
By: /s/ John Mazzuto
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Name: John Mazzuto
Title: President and
Chief Financial Officer
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EXHIBIT INDEX
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EXHIBIT
NO. DESCRIPTION
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Letter dated May 11, 2000, from Ahearn Jasco + Company, P.A. to the
1 Securities and Exchange Commission.
Ahearn, Jasco + Company, P.A.
Certified Public Accountants
190 SE 19th Avenue
Pompano Beach, FL 33060
Securities and Exchange Commission
Washington, DC 20549
Gentlemen:
We were previously the certifying accountants for First Sunrise, Inc., the
predecessor to the registrant, Global Sources Limited. On August 25, 1999 we
reported on the financial statements of First Sunrise, Inc. as of and for the
year ended December 31, 1998. On May 4, 2000, we resigned as the certifying
accountants of Global Sources Limited. We have read the statements included in
Item 4 of the Form 8-K of Global Sources Limited for May 11, 2000, and we agree
with such statements.
/s/ Ahearn, Jasco + Company, P.A.
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AHEARN, JASCO + COMPANY, P.A.
Certified Public Accountants
Pompano Beach, Florida
May 11, 2000
