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):
August 6,1997
International Thoroughbred Breeders,Inc.
(Exact name of registrant as specified in its charter)
Delaware 0-9624 22-2332039
(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
P.O. Box 1232
Cherry Hill, NJ 08034
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
609-488-3838
Item 4. Changes in Registrant's Certifying Accountant.
On August 6, 1997, the Registrant sent notice to
the accounting firm of Moore Stephens, P.C. that the
Registrant would not retain it to audit the Registrant's
financial statements for the fiscal year ending June 30,
1997. Moore Stephens had been the Registrant's principal
accountants for the purpose of auditing its financial
statements since the fiscal year ended June 30, 1981. The
report of Moore Stephens on the consolidated financial
statements of the Registrant for the two most recent fiscal
years did not contain an adverse opinion or a disclaimer of
opinion, and was not qualified or modified as to
uncertainty, audit scope or accounting principles. The
Registrant has had no disagreements with its former
principal accountants on any matter of accounting principles
or practices, financial statement disclosure or auditing
scope or procedure which disagreements, if not resolved to
the satisfaction of the former principal accountants, would
have caused it to make reference to the subject matter of
the disagreements in connection with its report relating to
the audits for the Registrant's two most recent fiscal years
or during the period from July 1, 1996 to August 6, 1997.
The Registrant's decision not to continue to
retain Moore Stephens was not based on the expectation that
any disagreement would arise in connection with the audit of
its financial statements for the current fiscal year. The
decision not to retain Moore Stephens was recommended by the
Audit Committee of the Registrant's Board of Directors in
connection with the change in management of the Registrant
and the belief that a larger, nationwide firm will be more
able to service the Registrant in the future.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
The following exhibit will be filed by amendment
to this Current Report on Form 8-K:
16. Letter re: change in certifying accountant
SIGNATURE
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.
Dated: August 13, 1997 INTERNATIONAL THOROUGHBRED
BREEDERS, INC.
By/s/William H. Warner
William H.Warner,Treasurer,
Principal Financial and
Accounting Officer
