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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report September 27, 1995
(Date of earliest event reported)
LEE PHARMACEUTICALS
(exact name of registrant as specified in its character)
CALIFORNIA
(State or other jurisdiction of incorporation)
1-7335 95-2680312
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(Commission File Number) (IRS Employer Identification Number)
1444 Santa Anita Avenue, South El Monte, California 91733
(Address of principal executive offices) (Zip Code)
(818) 442-3141
(Registrant's telephone number, including area code)
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNT
(a) Jeffery, Corrigan & Shaw, Certified Public Accountants, were
engaged as the Registrant's principal independent accountants for
the year ended September 30, 1995, on September 27, 1995. Prior
to the date, Meir & Meir had been the Registrant's principal
independent accountants.
(b) In connection with its audit for the most recent year and through
September 27, 1995, there have been no disagreements with Meir &
Meir 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 Meir &
Meir would have caused them to make reference in connection with
their report to the subject matter.
(c) The report of Meir & Meir on the financial statements for the
past year contained no adverse opinion or disclaimer of opinion
and were not qualified as to uncertainty, audit scope, or
accounting principle.
(d) A letter dated September 29, 1995, addressed to the Commission
from the Registrant's former independent accountants stating
whether or not they agree with the statements made by the
Registrant herein is filed as Exhibit 16 hereto.
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(e) The decision to change independent accountants was approved by
the Board of Directors of the Registrant. The Registrant does
have an audit committee.
(f) The Company has been informed by Meir & Meir that information has
come to their attention that made them conclude that the scope of
the audit should be expanded to include an expert opinion
regarding the environmental issues the Company is involved with.
The finding of such expert may materially impact the fairness or
reliability of the previously issued audit reports or the
underlying financial statements, or the financial statements to
be issued covering the fiscal periods subsequent to the date of
the most recent audited financial statements (including
information that might preclude the issuance of an unqualified
report).
(g) The request by Meir & Meir to include the expert opinion in the
fiscal 1995 audit was not the basis for the Company's change of
independent accountants. The Company is involved in various
matters involving environmental cleanup issues. SEE the
Company's Annual Report on Form 10-KSB for the fiscal year ended
September 30, 1994, and the Company's Quarterly Reports on Form
10-QSB for the fiscal quarters ended December 31, 1994, and March
31 and June 30, 1995. The Company believes that the ultimate
outcome of these matters cannot presently be determined.
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Accordingly, no provision for any loss that may result from the
resolution of these matters has been made in the financial
statements of the Company.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS.
(c) Exhibits.
16. Letter re change in certifying accountant.
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.
LEE PHARMACEUTICALS
Date: September 29, 1995 By: RONALD G. LEE
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RONALD G. LEE
PRESIDENT
Date: September 29, 1995 By: MICHAEL L. AGRESTI
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MICHAEL L. AGRESTI
VICE PRESIDENT - FINANCE
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EXHIBIT 16
September 29, 1995
Securities and Exchange Commission
Mail Stop 9-5
450 5th Street, N.W.
Washington, D.C. 20549
Dear Sirs/Madams:
We have read and agree with the comments in Items 4(b), (c), (d), (f) and
sentence two of Item 4(a) of Form 8-K of Lee Pharmaceuticals dated September 29,
1995. We have no basis to comment on Item 4(e), (g) and sentence one of Item
4(a).
Yours truly,
Meir & Meir
