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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
AMENDMENT NO. 1
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) August 9, 1999
ERLY Industries Inc.
(Exact Name of Registrant as Specified in Charter)
California 001-07894 95-231-2900
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No)
8641 United Plaza Boulevard
Baton Rouge, Louisiana 70809
(Address of Principal Executive (Zip Code)
Offices)
Registrant's telephone number, including area code (225) 922-4664
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
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The undersigned registrant hereby amends and restates the following items
of its Current Report on Form 8-K filed August 24, 1999 as set forth below:
Item 4. Changes in Registrant's Certifying Accountant.
On or about February 1, 1999, ERLY Industries Inc.'s ("ERLY's" or the
"Company's") independent accountants, Deloitte & Touche LLP ("D&T"), resigned as
ERLY's principal accountant for the audit of ERLY's financial statements. D&T's
reports for the years ended March 31, 1997 and March 31, 1996 did not contain an
adverse opinion, disclaimer of opinion, modification, or qualification. An
audit for the fiscal year ended March 31, 1998 was not completed by D&T in light
of the fact that the Company filed a voluntary petition for reorganization on
September 28, 1998. An audit was not performed for the latest fiscal year
ending March 31, 1999 while the Company was in bankruptcy proceedings. Prior to
D&T's resignation, there were no disagreements between D&T and present or prior
management on any matter of accounting principles or practices, financial
statement disclosure, or auditing scope or procedure.
The registrant has furnished D&T with a copy of this disclosure and the
previous disclosure on Form 8-K as filed with the Commission on August 24, 1999
and has requested that D&T furnish the registrant with a letter addressed to the
Commission stating whether it agrees with the statements made in such
disclosures. A letter from D&T has not been received to date.
On or about March 1, 1999, ERLY engaged Postelwaithe & Netterville, LLP
("P&N") as its principal accountant to audit its financial statements. P&N is
currently in the process of auditing ERLY's balance sheet at August 20, 1999.
The decision to engage P&N was approved by the board of directors.
Item 7. Financial Statements and Exhibits.
The following exhibits are filed with this report:
Exhibit Description
- ------- -----------
2.1 ** Letter of Intent dated August 13, 1999 for acquisition of four
radio stations in Hot Springs, Arkansas.
16 * Letter from Deloitte & Touche LLP re: Change in Certifying
Accountant.
99.1 ** Debtors' and ERLY Creditors' Committee Joint Plan of
Reorganization as Modified, dated as of June 1, 1999, with
ERLY Industries, Inc.'s; Watch-Edge, Inc.'s; and ERLY
Creditors Committee's Disclosure Statement as Modified for the
Joint Plan of Reorganization attached.
99.2 ** ERLY Industries, Inc. Monthly Operating Report Summary for
Month Ending October 31, 1998 as submitted to United States
Bankruptcy Court, Southern District of Texas, Corpus Christi
Division.
99.3 ** ERLY Industries, Inc. Monthly Operating Report Summary for
Month Ending November 30, 1998 as submitted to United States
Bankruptcy Court, Southern
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District of Texas, Corpus Christi Division.
99.4 ** ERLY Industries, Inc. Monthly Operating Report Summary for
Month Ending December 31, 1998 as submitted to United States
Bankruptcy Court, Southern District of Texas, Corpus Christi
Division.
99.5 ** ERLY Industries, Inc. Monthly Operating Report Summary for
Month Ending January 31, 1999 as submitted to United States
Bankruptcy Court, Southern District of Texas, Corpus Christi
Division.
99.6 ** ERLY Industries, Inc. Monthly Operating Report Summary for
Month Ending February 28, 1999 as submitted to United States
Bankruptcy Court, Southern District of Texas, Corpus Christi
Division.
99.7 ** ERLY Industries, Inc. Monthly Operating Report Summary for
Month Ending March 31, 1999 as submitted to United States
Bankruptcy Court, Southern District of Texas, Corpus Christi
Division.
99.8 ** ERLY Industries, Inc. Monthly Operating Report Summary for
Month Ending April 30, 1999 as submitted to United States
Bankruptcy Court, Southern District of Texas, Corpus Christi
Division.
99.9 ** ERLY Industries, Inc. Monthly Operating Report Summary for
Month Ending May 31, 1999 as submitted to United States
Bankruptcy Court, Southern District of Texas, Corpus Christi
Division.
99.10 ** ERLY Industries, Inc. Monthly Operating Report Summary for
Month Ending June 30, 1999 as submitted to United States
Bankruptcy Court, Southern District of Texas, Corpus Christi
Division.
99.11 ** ERLY Industries, Inc. Monthly Operating Report Summary for
Month Ending July 31, 1999 as submitted to United States
Bankruptcy Court, Southern District of Texas, Corpus Christi
Division.
* To be filed by amendment.
** Previously filed.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this Amendment No. 1 to Current Report
on Form 8-K to be signed on its behalf by the undersigned hereunto duly
authorized.
ERLY INDUSTRIES, INC.
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(Registrant)
Date: September 1, 1999 By: /s/ Nanette N. Kelley
________________________
Nanette N. Kelley
Chairman, President and
Chief Executive Officer
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