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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15
of the
Securities Exchange Act of 1934
Date of Report (date of earliest
event reported): March 31, 2000
Moyco Technologies, Inc.
(Exact Name of Registrant as specified in its charter)
Pennsylvania 0-4123 23-1697233
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
200 Commerce Drive, Montgomeryville, PA 18936
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(Address of principal executive offices)
Registrant's telephone number, including area code: 215-855-4300
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None
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(Former name or former address, if changed since last report)
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Item 4. Change in Registrant's Certifying Accountant
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Arthur Andersen LLP, independent public accountants, has been the
principal accountant for Moyco Technologies, Inc. (the "Registrant") since June
23, 1997. On March 31, 2000, the Company determined to terminate Arthur Andersen
LLP's appointment as principal accountants of the Registrant and to engage BDO
Seidman, LLP as the Registrant's independent accountants. The Registrant made
this decision in order to keep accounting expenses in line with the Registrant's
budget requirements. The decision to engage BDO Seidman, LLP and to terminate
Arthur Andersen LLP was recommended to and approved by the Audit Committee of
the Registrant's Board of Directors.
In connection with the audits of the two fiscal years ended June 30,
1999 and the unaudited interim periods through the date of this filing, there
were no disagreements with Arthur Andersen LLP on any matter of accounting
principles or practices, financial statement disclosures, or auditing scope or
procedures, which disagreements if not resolved to their satisfaction would have
caused them to make reference in connection with their opinion to the subject
matter of the disagreements.
The audit reports of Arthur Andersen LLP on the consolidated financial
statements of the Registrant for each of the years in the two-year period ended
June 30, 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.
During the two fiscal years ended June 30, 1999 and the unaudited
interim periods through the date of this filing, there were no "reportable
events" as defined by Item 304(a)(1)(v)(A) through (D) of Regulation S-K
promulgated by the Securities and Exchange Commission under the Securities Act
of 1933, as amended, and the Securities Exchange Act of 1934, as amended.
The Registrant has requested that Arthur Andersen LLP furnish it with a
letter addressed to the Securities and Exchange Commission stating whether or
not it agrees with the above statements.
Item 5. Other Matters
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On April 6, 2000, the Registrant appointed BDO Seidman, LLP its
independent public accountants. There were no disagreements with the
Registrant's prior independent accountant.
The foregoing is a summary of the press release which is attached as
Exhibit A to this report and is incorporated herein by reference. The foregoing
description does not purport to be complete and is qualified in its entirety by
reference to Exhibit A.
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Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
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Exhibit No. Description
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* Letter from Arthur Andersen LLP
A Press Release
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* To be filed by amendment.
SIGNATURE
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.
MOYCO TECHNOLOGIES, INC.
By: /s/ Marvin E. Sternberg
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Marvin E. Sternberg
President and Chief Executive Officer
and Chairman of the Board
Date: April 7, 2000
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Exhibit A
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NEWS RELEASE
April 7, 2000
Contact: Joseph Sternberg
MOYCO RETAINS BDO SEIDMAN, LLP
Moyco Technologies, Inc. [MOYC: NASDAQ SmallCap] a Montgomeryville, PA
manufacturer of professional dental supplies and precision abrasives, has
retained BDO Seidman, LLP as its independent Auditor. Moyco has no
disagreements with its prior accountants, Arthur Andersen LLP. BDO Seidman may
also provide consultation and advice concerning various strategic opportunities.
BDO Seidman, LLP is an accounting and consulting organization serving the middle
market since 1910. A primary focus area for the Philadelphia office of BDO
Seidman is healthcare.
