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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): September 20, 2000
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SUNGLOBE FIBER SYSTEMS CORPORATION
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(Exact name of registrant as specified in its charter)
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<S> <C> <C>
Nevada 2-70345-NY 88-0182534
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(State or other jurisdiction of (Commission File (IRS Employer
incorporation) Number) Identification No.)
1550 Sawgrass Corporate Parkway, Suite 370 Sunrise, Florida 33323
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(Address of principal executive offices) (Zip Code)
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Registrant's telephone number, including area code (954) 838-0527
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Item 4. Changes in Registrant's Certifying Accountant.
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On September 20, 2000, we dismissed Smith & Company, Certified Public
Accountants, as our independent accountants to audit and report on our
consolidated financial statements. Our Board of Directors approved this
action. We plan to engage another accounting firm to serve as our independent
accountants in the near future.
Neither of Smith & Company's reports on the financial statements for
our two most recent fiscal years rendered in connection with their audit for
such years contained an adverse opinion or was qualified or modified as to
uncertainty, audit scope, or accounting principles.
In connection with the audits of our consolidated financial statements
for the fiscal years ended December 31, 1999 and December 31, 1998, and during
the subsequent unaudited interim periods since the most recently ended fiscal
year, there were no (i) disagreements with Smith & Company on matters of
accounting principles or practices, financial statement disclosure, or auditing
scope or procedure, which, if not resolved to the satisfaction of Smith &
Company, would have caused Smith & Company to make reference to the matter in
their report or (ii) "reportable events" as described in Item 304(a)(1)(v) of
the Securities and Exchange Commission's Regulation S-K.
We recently engaged Grant Thornton LLP to report on the financial
statements of our subsidiary, SG Fiber Co. (formerly known as SunGlobe Fiber
Systems Corporation) as of June 30, 2000 and for the period from March 3, 2000
(date of inception) through June 30, 2000 and also to provide unaudited pro
forma financial information giving effect to the merger of TimeOne, Inc., our
predecessor corporation, and SG Fiber Co. in connection with our Form 8-K/A
filed on September 19, 2000 relating to the acquisition of SG Fiber Co.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
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(a) N/A
(b) N/A
(c) Exhibits.
16.1 Letter of Smith & Company, Certified Public Accountants,
regarding change in independent auditors.
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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.
SUNGLOBE FIBER SYSTEMS CORPORATION
By: /s/ Barry H. Pasternak
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Name: Barry H. Pasternak
Title: President
Dated: September 27, 2000
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