SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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) September 14, 1999
STARMET CORPORATION
(Exact name of registrant as specified in charter)
Massachusetts 0-8836 04-2506761
(State or other (Commission file (IRS employer
jurisdiction of number) identification no.)
incorporation)
2229 Main Street, Concord Massachusetts 01742
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (978) 369-5410
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Item 4. Changes in Registrant's Certifying Accountant
On September 14, 1999, the firm of Arthur Andersen LLP was dismissed as
independent public accountants for Starmet Corporation (the "Registrant"). The
firm of BDO Seidman LLP has been appointed as the Registrant's new independent
public accountants, effective upon such dismissal. The decision to change
accountants was approved by Registrant's Board of Directors upon the
recommendation of its Audit Committee.
The Report of Arthur Andersen LLP dated January 8, 1999 on the
Registrant's consolidated financial statements as of September 30, 1998 and
1997, and for each of the three years ended September 30, 1998 was modified to
include a paragraph which raised substantial doubt about the Registrant's
ability to continue as a going concern. There were no reportable events (as
defined in Regulation S-K, Item 304(a)(1)(v)) or disagreements with Arthur
Andersen LLP on any matter of accounting principles or practices, financial
statement disclosure, or auditing scope or procedure during the past two fiscal
years and through September 14, 1999. The decision to replace Arthur Andersen
LLP was made upon the basis of an anticipated reduction in the cost of services
and the reputation of BDO Seidman LLP as auditors of middle-market companies.
A letter from Arthur Andersen LLP addressed to the Securities and
Exchange Commission in accordance with Item 304(a)(3) of Regulation S-K is filed
as an exhibit hereto.
Item 7. Financial Statements, Pro Forma Financial Statements and Exhibits.
(c) Exhibits
The following exhibit is filed herewith:
Exhibit Number Description
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16 Letter from Arthur Andersen LLP addressed to the
Securities and Exchange Commission in accordance with
Item 304(a)(3) of Regulation S-K.
2
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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.
STARMET CORPORATION
By: /s/ Robert E. Quinn
Robert E. Quinn
President and Chief Executive Officer
Date: September 20, 1999
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EXHIBIT 16
[Arthur Anderson Letterhead]
September 17, 1999
Office of the Chief Accountant
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Dear Sir/Madam:
We have read the second paragraph of Item 4 included in the Form 8-K dated
September 14, 1999 of Starmet Corporation to be filed with the Securities and
Exchange Commission and are in agreement with the statements contained therein
with the exception of the last sentence for which we have no basis to agree or
disagree.
Very truly yours,
ARTHUR ANDERSEN LLP
/s/ ARTHUR ANDERSEN LLP
Copy to: Robert Quinn, President
Starmet Corporation
