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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 (Date of earliest event reported): February 25, 2000
PowerSource Corp.
(Exact name of registrant as specified in its charter)
Nevada 001-15071 61-1180504
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
3660 Wilshire Boulevard, Suite 1104, Los Angeles, California 90010
(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (213) 383-4443
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Item 4. Change in Registrant's Certifying Accountant
Effective February 25, 2000, Pannell Kerr Forster, P.C. replaced
Bandari & Associates as the independent public accountants to audit the
financial statements of PowerSource Corp. (the "Company").
The Company believes, and has been advised by Bandari & Associates that
it concurs with such belief, that, for the years ended December 31, 1998 and
December 31, 1999, the Company and Bandari & Associates did not have any
disagreement on any matter of accounting principles or practices, financial
statement disclosure or auditing scope or procedure, which disagreement, if not
resolved to the satisfaction of Bandari & Associates would have caused it to
make reference in connection with its report on the Company's financial
statements to the subject matter of the disagreement.
The report of Bandari & Associates on the Company's financial
statements for the years ended December 31, 1998 and December 31, 1999 did not
contain an adverse opinion or a disclaimer of opinion, and was not qualified or
modified as to uncertainty, audit scope or accounting principles. During that
period, there were no "reportable events" within the meaning of Item
304(a)(1)(v) of Regulation S-K promulgated under the Securities Act of 1933.
The Company has requested that Bandari & Associates furnish a letter
addressed to the Securities and Exchange Commission stating whether Bandari &
Associates agrees with the above statements. A copy of that letter is attached
as Exhibit 1 to this Form 8-K.
Item 7. Exhibits
16. Letter from Bandari & Associates.
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.
PowerSource Corp.
(Registrant)
Date: March 2, 2000 By: /s/ E. Douglas Mitchell
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Name: E. Douglas Mitchell
Title: President
EXHIBIT INDEX
Exhibit
Number Description
16. Letter from Bandari & Associates
Exhibit 16.
March 1, 2000
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
RE: Form 8-K
PowerSource Corporation
Dear Sir or Madam:
We have read Item 4 of Form 8-K dated February 25, 2000, of PowerSource
Corporation and are in agreement with the statements contained in the first
three paragraphs on page 2 therein. We have no basis to agree or disagree with
other statements of the registrant contained therein.
Sincerely,
BANDARI & ASSOCIATES
Accountancy Corporation
/s/ Bob Bandari
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Bob Bandari, CPA
BB;si
