SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
First Amendment to 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
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Item 4. Changes in Registrant's Certifying Accountant.
On June 10, 1998, the Registrant dismissed Grant Thornton LLP ("Grant
Thornton") as the Registrant's independent auditors. The dismissal, which was
approved by the Board of Directors of Registrant, resulted solely from the
Registrant's desire to curtail expenses for professional services.
Grant Thornton's reports on the financial statements of Registrant for
the past two years did not contain an adverse opinion or a disclaimer of
opinion, and were not qualified or modified as to uncertainty, audit scope, or
accounting principles.
There were no disagreements with Grant Thornton on any matter of
accounting principles or practices, financial statement disclosure, or auditing
scope or procedure, which disagreement(s), if not resolved to the satisfaction
of Grant Thornton, would have caused it to make reference to the subject matter
of the disagreement(s) in connection with its report during either of the
Registrant's two most recent fiscal years or any subsequent interim period
preceding the dismissal of Grant Thornton as the Registrant's auditors.
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.]
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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 hereunto duly authorized.
CUTCO INDUSTRIES, INC.
(Registrant)
By: /s/ Marvin W. Marcus
Marvin W. Marcus
Chairman of the Board
(Signature)
Dated: June 24, 1998
<PAGE>
June 24, 1998
Securities and Exchange Commission
Washington, D.C. 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 fourth paragraph on which we have no basis for agreeing or
disagreeing.
Very truly yours,
/s/ Grant Thornton, LLP
GRANT THORNTON, LLP
