UNITED STATES
Securities and Exchange Commission
Washington, D.C. 20549
FORM 8-K/A1
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report June 27, 1995
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JAYARK CORPORATION
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(Exact name of registrant as specified in its charter)
DELAWARE 0-3255 13-1863419
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(State or other jurisdiction of incorporation) (Commission File Number)
(I.R.S.Employer Identification No.)
POST OFFICE BOX 741528, HOUSTON, TEXAS 77274
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(Address of principal executive offices ) (Zip Code)
713-783-9184
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(Registrant's telephone number, including area code)
(Former name, former address and fiscal year, if changed since last report.)
ITEM 5. OTHER EVENTS
On June 27, 1995, LCL International Traders, Inc., a wholly owned
subsidiary of Jayark Corporation (the ``ompany''), completed the acquisition of
substantially all the assets and business of certain affiliated companies (the
`Sellers''), engaged in the import and distribution of seasonal and promotional
merchandise.
Form 8-K dated June 27, 1995, reporting the event was filed in a timely
manner and stated that the required financial statements for the acquired
business were to be filed as an amendment to the June 27, 1995 Form 8-K, as soon
as practicable, but not later than September 11, 1995.
The Company received via facsimile transmission on September 7, 1995, a
copy of a letter to Lib-Com Ltd., the parent company within the group of
companies comprising the Sellers, from Coopers & Lybrand (the `Auditors''), the
Sellers auditors. This letter stated that: `the client-auditor relationship
between Lib-Com Ltd and Coopers & Lybrand L.L.P. has ceased.''The Company had
not previously been advised that the Auditors would not complete the audit of
the Sellers' financial statements and had planned to include such audited
financial statements in a timely amendment to the Company's June 27, 1995 Form
8-K. The Auditors have not advised the Company as to the reason for the
termination of the client-auditor relationship between the Auditors and Sellers.
Due to the Auditor's withdrawal, the audit of the most recent fiscal year
(1995) of the Sellers was not completed as scheduled. The Company is unable to
file the required 1995 audited financial statements at this time.
The Company is attempting to make immediate arrangements with other
auditors to determine the Company's ability to obtain an audit of the most
recent fiscal year (1995) of the Sellers.
In anticipation of a request by the Company to the Auditors to grant their
consent to include their previously issued report on the audited financial
statements of the Seller for the preceding two fiscal years (1994 and 1993), the
letter from the Auditors also stated that they would consider consenting to the
inclusion of their report on the audited financial statements of those years in
a filing to be supplied to the Securities Exchange Commission to be new
engagements and that they would be unlikely to accept such engagements.
Due to the Auditors statements rejecting the inclusion of their report on
the Sellers' financial statements for the fiscal years 1994 and 1993, the
Company is unable to file the required audited financial statements of the
Seller for fiscals 1994 and 1993.
The Company is seeking to make immediate arrangements with other auditors
to determine the Company's ability to obtain an audit of the preceding two
fiscal years (994 and 1993), of the Sellers.
Due to the foregoing it is also impracticable for the Company to provide
the required pro forma financial information at this time. The Company cannot
prepare the required pro forma financial information until the underlying
audited financial statements are available; if and when such statements are
available, the pro forma financial information will be prepared as soon as
practicable.
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 thereunto duly authorized.
JAYARK CORPORATION
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Registrant
By: /s/ Clay Whitehead Date: September 11, 1995
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Clay Whitehead, Controller,
Chief Financial Officer
