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: October 25, 1995
CHYRON CORPORATION
(Exact name of registrant as specified in its charter)
New York
(State or other jurisdiction of
incorporation or organization)
1-9014
(Commission File Number)
11-2117385
(I.R.S. Employer
Identification Number)
5 Hub Drive, Melville, New York 11747
(Address of principal administrative offices)
Registrant's telephone number, including area code: (516) 845-2000
Total number of pages in this report is 5
Exhibit Index is located on page 4<PAGE>
Item 4. Changes in Registrant's Certifying Accountants
1. Previous independent accountants:
(i) On October 19, 1995 the Registrant informed
representatives of Ernst & Young LLP (Ernst & Young) that such firm would
no longer be engaged as the principal accountants to audit the Registrant's
financial statements.
(ii) Ernst & Youngs reports on the financial statements for
the past two fiscal years contained no adverse opinion or disclaimer of
opinion and were not qualified or modified as to uncertainty, audit scope,
or accounting principles.
(iii) The decision to dismiss the Registrant's independent
accountants was recommended and approved by the Audit Committee of the
Registrants Board of Directors.
(iv) In connection with its audits for the two most recent
fiscal years ended December 31, 1993 and 1994, respectively, and during any
subsequent interim period, there have been no disagreements with Ernst &
Young on any matter of accounting principles or practices, financial
statement disclosure, or auditing scope or procedure which, if not resolved
to the satisfaction of Ernst & Young would have caused Ernst & Young to
make reference to the matter in their report.
(v) The Registrant has provided Ernst & Young with a copy of
the disclosures contained in this Form 8-K. The Registrant has requested
that Ernst & Young furnish it with a letter addressed to the Securities and
Exchange Commission ("SEC") stating whether it agrees with the above
statements. [A copy of said letter to the SEC, dated October 25, 1995 is
filed as Exhibit 1 to this Form 8-K.]
(a) New independent accountants:
(i) The Registrant engaged Price Waterhouse LLP (Price
Waterhouse) as its new independent accountants, effective as of October 19,
1995. During the two most recent fiscal years ended December 31, 1993 and
1994, respectively, and during any subsequent interim period, the
Registrant has not consulted with Price Waterhouse regarding (A) either:
the application of accounting principles to a specified transaction, either
completed or proposed; or the type of audit opinion that might be rendered
on the Registrant's financial statements; or (B) any matter that was either
the subject of a disagreement (as defined in Item 304(a)(1)(iv) and the
related instructions of Regulation S-K) or a reportable event (as described
in Item 304(a)(1)(v) of Regulation S-K).<PAGE>
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.
CHYRON CORPORATION
(Registrant)
Date: October 25, 1995 By: Patricia Lampe
Patricia Lampe
Chief Financial Officer<PAGE>
EXHIBIT INDEX
Sequentially
Exhibit No. Description
Numbered Page
1 Letter Re Change in Certifying Accountant 5
<PAGE>
October 25, 1995
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Gentlemen:
We have read the statement made by Chyron Corporation (copy attached), which we
understand will be filed with the Commission pursuant to Item 4 of Form
8-K. We agree with the statements concerning our Firm in such Form 8-K.
Very truly yours,
Ernst & Young LLP
