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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: March 6, 1998
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, NJ 07014
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (973) 473-4700
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Item 4. Changes in Registrant's Certifying Accountant
(a) On March 3, 1998 the Registrant and Arthur Andersen, LLP ("AA")
mutually agreed to cease the client auditor relationship. Arthur Andersen's
report upon Registrant financial statements for its fiscal years ended
July 31, 1997 and 1996 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, 1997 and the interim period from August 1, 1997 to March 3, 1998
(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 AA; and (ii) there were no reportable events of the
nature contemplated by Item 304 (a) (1) (v) (A) - (D) 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 Arthur Andersen LLP
(ii) Letter from Arthur Andersen LLP
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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.
COMPUTER TRANSCEIVER SYSTEMS, INC.
Registrant
By s/Thomas J. Tully
Thomas J. Tully
President
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March 6, 1998
Exhibit (i)
Arthur Andersen
101 Eisenhower Parkway
Roseland NJ 07068-1099
March 6, 1998
Office of the Chief Accountant
SECPS Letter File
Securities and Exchange Commission
Mail Stop 11-3
450 5th Street, N.W.
Washington DC 20549
Dear Sirs:
We have read Item 4 included in Form 8-K dated March 6, 1998 of Computer
Transceiver Systems, Inc. to be filed with the Securities and Exchange
Commission and are in agreement with the statements contained therein.
Very truly yours,
s/ Arthur Andersen LLP
cc: Ronald C. Byer, Vertex Industries, Inc.
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Exhibit (ii)
Arthur Andersen
101 Eisenhower Parkway
Roseland NJ 07068-1099
March 3, 1998
Mr. Ronald C. Byer
President and Chief Executive Officer
Computer Transceiver Systems, Inc.
23 Carol Street
P.O. Box 996
Clifton, New Jersey 07014-0996
Dear Mr. Byer:
This will confirm that the client-auditor relationship between Computer
Transceiver Systems, Inc. (Commission file Number 0-03825) and Arthur
Andersen LLP has ceased.
Very truly yours,
s/ Arthur Andersen LLP
cc: SEC Office of the Chief Accountant
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