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): November 20, 2000
FORTUNE NATURAL RESOURCES CORPORATION
(Exact name of Registrant as specified in its charter)
Delaware 1-12334 95-4114732
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
515 W. Greens Road, Suite 720, Houston, Texas 77067
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (281) 872-1170
Registrant's telecopier number, including area code: (281) 872-1213
N/A
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(Former name or former address, if changed since last report)
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Item 4. Changes in Registrant's Certifying Accountant
On November 20, 2000, the Company's Board of Directors, acting upon the
recommendation of the Audit Committee of the Board, voted to retain the
accounting firm of Grant Thornton LLP to make an examination of the financial
statements of the Company for the 2000 fiscal year.
Also on November 20, 2000, the Company's Board of Directors, acting
upon the recommendation of the Audit Committee of the Board, voted to dismiss
its prior independent accountant, KPMG LLP ("KPMG"). The reports of KPMG on the
Company's financial statements for the 1999 and 1998 fiscal years did not
contain any adverse opinion or a disclaimer of opinion and were not qualified or
modified as to uncertainty, audit scope or accounting principles. During the
1999 or 1998 fiscal years and the period through November 20, 2000 there were no
disagreements between the Company and KPMG 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 KPMG,
would have caused it to make reference to the subject matter of the
disagreements in connection with its reports on financial statements. In
addition, during the 1999 and 1998 fiscal years and the period through November
20, 2000, there were no "reportable events" within the meaning of Item 304 of
the Securities and Exchange Commission" regulation S-K.
The Company's management and its Board of Directors considers that KPMG
LLP has served the Company and its shareholders very well since KPMG LLP was
first engaged as Fortune's independent accountants in February 1992. However,
the rising cost of audits and reviews has compelled Fortune to seek a more
economical alternative. Grant Thornton LLP is a highly-respected,
internationally recognized accounting and management-consulting firm. The
Company is looking forward to a long, beneficial relationship with its new
independent accountants.
Item 7. Financial Statements and Exhibits
Exhibit 16 Letter regarding change in certifying accountants.
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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.
FORTUNE NATURAL RESOURCES CORPORATION
By: /s/ J. Michael Urban
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J. Michael Urban
Vice President, Chief Financial Officer
and Chief Accounting Officer
Date: November 21, 2000
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