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
JULY 23, 1997
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Date of Report (Date of earliest event reported)
IGI, INC.
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(Exact Name of Registrant as Specified in its Charter)
DELAWARE 1-8568 01-0355758
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(State or Other (Commission (IRS Employer
Jurisdiction of File Number) Identification
Incorporation) Number)
WHEAT ROAD AND
LINCOLN AVENUE
BUENA, NJ 08310
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(Address of Principal Executive Offices,
Including Zip Code)
(609) 697-1441
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(Registrant's telephone number,
including area code)
NOT APPLICABLE
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(Former Name or Former Address,
if Changed Since Last Report)
<PAGE>
Item 4. Changes in Registrant's Certifying Accountant
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(a)(i) On July 23, 1997, IGI, Inc. (the "Company") was informed by the
accounting firm of Coopers & Lybrand L.L.P, who have acted as
certifying accountants for the Company for the years ended December 31,
1996 and 1995, that it was resigning as the Company's auditors
effective as of that date.
(a)(ii) None of the prior certifying accountants' reports on the Company's
financial statements for the past two years contained an adverse
opinion or disclaimer of opinion, or was modified as to audit scope or
accounting principles.
(a)(iii) The decision to terminate the client-auditor relationship between the
Company and Coopers & Lybrand L.L.P. was initiated by Coopers & Lybrand
L.L.P. and accordingly neither the Company's Board of Directors nor its
Audit Committee participated in a decision to change the Company's
independent accountants.
(a)(iv) For the fiscal years ended December 31, 1996 and 1995, and through the
date of this Form 8-K, the Company is unaware of any disagreement with
Coopers & Lybrand L.L.P. on any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or
procedure which would have caused said accountants to make reference to
the subject matter in connection with any report issued by same.
(b)(2) As of the date of this report, the Company has not engaged a new
accounting firm to act as certifying accountants for the year ending
December 31, 1997.
Item 7. Financial Statements and Exhibits
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(a) and (b) N/A
(c) Exhibits: The following exhibits are filed with this Report:
Exhibit No. Description
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16.1 Letter from Coopers & Lybrand L.L.P.
<PAGE>
SIGNATURES
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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.
IGI, INC.
Date: August 1, 1997 By: /s/ Lawrence R. Hoffman
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Lawrence R. Hoffman
Chief Financial Officer
<PAGE>
Exhibit 16.1
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July 31, 1997
Securities and Exchange Commission
450 5th Street, N.W.
Washington, D.C. 20549
Gentlemen,
We have read the statements made by IGI, Inc., (copy attached), which we
understand will be filed with the Commission, pursuant to Item 4 of Form 8-K, as
part of the Company's Form 8-K report for the month of July 1997. We agree with
the statements concerning our Firm in such Form 8-K.
Very truly yours,
Coopers & Lybrand L.L.P.
