U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
July 19, 2000
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Date of Report (date of earliest event reported)
Capco Energy, Inc.
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Exact Name of Registrant as Specified in its Charter
Colorado 0-10157 84-0846529
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State or Other Jurisdiction Commission File IRS Employer Identifi-
of Incorporation Number cation Number
2922 East Chapman, Suite 202
Orange, California 92869
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Address of Principal Executive Office, Including Zip Code
(714) 288-8230
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Registrant's Telephone Number, Including Area Code
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANTS.
(a) On July 18, 2000, Glenn, Burdette, Phillips and Bryson, P.C. were
terminated as the independent accountants for Capco Energy, Inc. (the
"Registrant"). On July 19, 2000, the Registrant engaged McGladrey and Pullen,
LLP as its independent accountants for the fiscal year ended May 31, 2000.
(b) Glenn, Burdette, Phillips and Bryson, P.C.'s report on the
registrant's financial statement for the year ended May 31, 1999, contained no
adverse opinion or disclaimer of opinion nor was it qualified as to audit
scope or accounting principles
(c) The Registrant's Board of Directors made the decision to terminate
its prior local independent accountants and to engage McGladrey and Pullen,
LLP in order to engage a national independent accounting firm. The Registrant
has no audit or similar committee.
(d) In connection with the prior audit for the year ended May 31, 1999,
and during the interim period from May 31, 1999 to July 18, 2000, there have
been no disagreements with Glenn, Burdette, Phillips and Bryson,P. C. on any
matter of accounting principles or practices, financial statement disclosure
or auditing scope or procedure.
(e) The Registrant did not consult with McGladrey and Pullen, LLP with
regard to any matter concerning the application of accounting principles to
any specific transactions, either completed or proposed, or the type of audit
opinion that might be rendered with respect to the Registrant's financial
statements.
(f) The Registrant has requested that Glenn, Burdette, Phillips and
Bryson, P.C. review the disclosure and that firm has been given an opportunity
to furnish the Registrant with a letter addressed to the Commission containing
any new information, clarification of the Registrant's expression of its
views, or the respect in which it does not agree with the statements made by
the Registrant herein. Such letter is filed as an exhibit to this Report.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS.
(a) EXHIBITS.
Exhibit 16. Letter from Glenn, Burdette, Phillips and Bryson,
P.C.
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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.
CAPCO ENERGY, INC.
Dated: July 24, 2000 By:/s/ Dennis R. Staal
Dennis R. Staal,
Chief Financial Officer
