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: September 16, 1996
Computer Transceiver Systems,Inc.
(Exact name of Registrant as specified in charter)
New York 0-3825 22-1842747
(State or other (Commission File No.) (IRS Employer
jurisdiction of Identification Number)
incorporation)
23 Carol Street, Clifton 07014
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (201)473-4700
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Item 4. Changes in Registrant's Certifying Accountant
(a) On September 16, 1996, Registrant dismissed Sax Macy Fromm & Co.,
P.C.("SMF") as its independent auditors. Such dismissal was approved
by Registrant's Board of Directors. SMF's report upon Registrant
consolidated financial statements for its fiscal years ended July 31,
1994 and 1995 did not contain an adverse opinion or a disclaimer of
opinion, nor was such report qualified or modified as to uncertainty,
audit scope or accounting principles. During Registrant's fiscal years
ended July 31, 1995 and the interim period from August 1, 1995 to the
date of SMF's dismissal (the "Interim Period"): (i) there were no
disagreements (of the nature contemplated by Item 304 (a) (1) (iv) of
Regulation S-K ("Disagreements)) between Registrant and SMF; and (ii)
there were no reportable events of the nature contemplated by Item 304
(a) (1) (v) (A) - (D) of Regulation S-K.
(b) On September 16, 1996, Registrant engaged Arthur Andersen LLP ("AA")
as its independent auditor for Registrant's fiscal year ending July 31,
1996. During Registrant's two fiscal years ended July 31, 1995 and
the Interim Period, Registrant did not consult AA with respect to any of
the matters contemplated by Item 304 (a) (2) (i) - (ii) of Regulation
S-K.
Item 7. Financial Statements and Exhibits
(a) Financial Statements of Businesses Acquired
Not applicable.
(b) Pro Forma Financial Information
Not applicable.
(c) Exhibits
(i) Letter from Sax, Macy, Fromm & Co., P.C.
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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 thereunto duly authorized.
VERTEX INDUSTRIES, INC.
Registrant
By S/ Thomas J. Tully
Thomas J. Tully
President
By S/ Ronald C. Byer
Ronald C. Byer
Treasurer
September 16, 1996
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Exhibit (i)
September 20, 1996
Securities and Exchange Commission
450 5th Street, N.W.
Washington DC 20549
Gentlemen:
We have read and agree with the comments in Item 4 (a) of Form 8-K of Computer
Transceiver Systems, Inc. dated September 16, 1996.
Sincerely,
S\Sax Macy Fromm & Co., P.C.
Sax Macy Fromm & Co., PC
/nvh
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