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): June 10, 1998
CUTCO INDUSTRIES, INC.
(Exact name of Registrant as specified in its Charter)
NEW YORK 0-5223 11-1771806
(State or other (Commission File Number) (I.R.S. Employer I.D. Number)
jurisdiction of
incorporation)
6900 Jericho Turnpike, Syosset, New York 11791
(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (516) 677-0320
<PAGE>
Item 4. Changes in Registrant's Certifying Accountant.
On June 10, 1998, the Registrant has dismissed Grant Thornton,
LLP ("Grant Thornton") as the Registrant's independent auditors. The dismissal
resulted from the Registrant's desire to curtail expenses for professional
services.
There have been no disagreements on matters of accounting
principles or practices, financial statement disclosure, or auditing scope or
procedure, between Registrant and Grant Thornton at any time during Registrant's
last two fiscal years or any subsequent interim period.
On June 10, 1998, Registrant's Board of Directors approved the
selection of Nussbaum Yates & Wolpow, P.C. ("NY&W") as its new independent
auditors. On June 10, 1998, NY&W accepted such appointment. Registrant has not
previously consulted with NY&W regarding any accounting matters.
<PAGE>
Item 7. Financial Statements, Pro Forma
Financial Information and Exhibits.
Listed below are the financial statements, pro forma financial
information and exhibits, if any, filed as part of this report.
(a) Financial statements of business acquired.
Not applicable.
(b) Pro Forma Financial Information.
Not applicable.
(c) Exhibits: 16. Letter of Grant Thornton, LLP
EXHIBIT INDEX
Exhibit Description Page
16. Letter of Grant Thornton 5
[Balance of page left blank intentionally.]
<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.
CUTCO INDUSTRIES, INC.
(Registrant)
By:/s/ Marvin W. Marcus
Marvin W. Marcus
Chairman of the Board
(Signature)
Dated: June 12, 1998
June 15, 1998
Securities and Exchange Commission
Washington, DC 20549
RE: Cutco Industries, Inc.
File No. 0-5223
Dear Sir or Madam:
We have read Item 4 of the Form 8-K of Cutco Industries, Inc. dated June 10,
1998 and agree with the statements contained therein except for the information
contained in the third paragraph on which we have no basis for agreeing or
disagreeing.
Very truly yours,
GRANT THORNTON LLP
