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UNITED STATES
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): July 9, 1999
SYNTHETIC BLOOD INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
NEW JERSEY 2-31909 22-3067701
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
2685 CULVER AVENUE KETTERING, OHIO 45429
(Address of principal executive offices, including Zip Code)
937-298-6070
(Registrant's telephone number, including area code)
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Item 4. Changes in Registrant's Certifying Accountant
(a). Previous independent accountants
On July 9, 1999 the Company dismissed Deloitte & Touche LLP as its
independent accountants effective as of the Company's fiscal year ended April
30, 1999.
The Registrant's Board of Directors participated in and approved the
decision to change independent accountants.
The reports of Deloitte & Touche LLP on the financial statements for the
past two fiscal years contained no adverse opinion or disclaimer of opinion and
were not qualified as to audit scope or accounting principle. These reports were
modified to include an explanatory paragraph regarding an uncertainty as to the
Company's ability to continue as a going concern.
In connection with its audits for the two most recent fiscal years and
through July 9, 1999 there have been no disagreements with Deloitte & Touche LLP
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 Deloitte & Touche LLP would have caused them to make
reference thereto in their reports on the financial statements for such years.
In connection with its audits for the two most recent fiscal years and
through July 9, 1999, there were no reportable events (as defined in Regulations
S-K Item 304(a)(1)(v)).
The Registrant has requested that Deloitte & Touche LLP furnish it with
a letter addressed to the SEC stating whether or not it agrees with the above
statements. A copy of such letter, dated July 13, 1999 is filed as Exhibit 16 to
this Form 8-K.
(b). New independent accountants
On July 9, 1999, the Company selected Grant Thornton LLP to act as its
independent accountants effective as of the Company's fiscal year ended April
30, 1999.
During the two most recent fiscal years and through July 9, 1999, the
Registrant has not consulted with Grant Thornton LLP regarding the application
of accounting principles to a specified transaction, either completed or
proposed; or the type of audit opinion that might be rendered on the
Registrant's financial statements.
Item 7. Financial Statements and Exhibits
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The following exhibits are filed as part of this Current Report on Form
8-K:
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Exhibit
Number Exhibit
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16 Letter from Deloitte & Touche LLP to the SEC dated July 13, 1999.
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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.
Date: July 14, 1999
SYNTHETIC BLOOD INTERNATIONAL, INC.
By: /s/ David H. Johnson
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David H. Johnson
Chief Financial Officer
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INDEX TO EXHIBITS
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16 Letter from Deloitte & Touche LLP to
the SEC dated July 13, 1999. 5
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EXHIBIT 16
July 13, 1999
Securities and Exchange Commission
Mail Stop 11-3
450 5th Street, N.W.
Washington D.C.
Dear Sirs/Madams:
We have read and agree with the comments in Item 4 of Form 8-K of Synthetic
Blood International, Inc. dated July 9, 1999.
Yours truly,
/s/ Deloitte & Touche LLP
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