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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) May 21, 1999
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Silicon Valley Research, Inc.
(Exact name of registrant as specified in charter)
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California 0-13836 94-2743735
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(State or other jurisdiction (Commission File Number) (IRS Employer Identification No.)
or incorporation)
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6360 San Ignacio Avenue, San Jose, California 95119-1231
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(Address of principal executive offices)
Registrant's telephone number, including area code (408) 361-0333
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(Former name or former address, if changed since last report)
This Current Report, including exhibits, contains 4 pages.
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Item 4. Changes in Registrant's Certifying Accountants
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On May 14, 1999 PricewaterhouseCoopers LLP resigned as the independent
accountants of Silicon Valley Research, Inc. (the "Registrant").
The reports of PricewaterhouseCoopers LLP on the Registrant's consolidated
financial statements for the past two fiscal years ended March 31, 1998
contained no adverse opinion or disclaimer of opinion and were not qualified or
modified as to uncertainty, audit scope or accounting principles, except that
such reports included an explanatory paragraph as to the uncertainty of the
Registrant's ability to continue as a going concern.
In connection with its audits of the Registrant's consolidated financial
statements for the two fiscal years ended March 31, 1998 and through May 14,
1999, there have been no disagreements with PricewaterhouseCoopers LLP 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 PricewaterhouseCoopers LLP would have caused them to make
reference thereto in their report on the consolidated financial statements for
such years.
The Registrant has requested that PricewaterhouseCoopers LLP furnish it with a
letter addressed to the Securities and Exchange Commission stating whether or
not it agrees with the above statements. A copy of such letter, dated May 21,
1999, is filed as Exhibit 16 to this Form 8-K.
The Registrant engaged Moss Adams LLP as its new independent accountants as of
May 17, 1999. During the fiscal years ended March 31, 1998 and through May 21,
1999, the Registrant has not consulted with Moss Adams LLP regarding either (i)
the application of accounting principles to a specified transaction, either
completed or proposed; or the type of audit opinion that might be rendered on
the Registrant's financial statements for the two fiscal years ended March 31,
1998, and either a written report was provided to the Registrant or oral advice
was provided that Moss Adams LLP concluded was an important factor considered by
the Registrant in reaching a decision as to the accounting, auditing or
financial reporting issue; or (ii) any matter that was either the subject of a
disagreement, as that term is defined in Item 304 (a) (1) (iv) of Regulation S-K
and the related instructions of Item 304 of Regulation S-K, or a reportable
event, as that term is defined in Item 304 (a) (1) (v) of Regulation S-K.
Item 7. Exhibits
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Exhibit No. Description
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16 Letter of PricewaterhouseCoopers LLP to the Securities and
Exchange Commission included herein pursuant to the
requirements of Item 304 (a) (3) of Regulation S-K.
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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.
SILICON VALLEY RESEARCH, INC.
Date: May 21, 1999 By: /s/ James O. Benouis
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James O. Benouis
President and Chief Executive Officer
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Exhibit 16
May 21, 1999
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Dear Commissioners:
We have read the statements made by Silicon Valley Research, 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 dated May 21, 1999.
We agree with the statements concerning our Firm in such Form 8-K; however, we
make no comment regarding the statements contained in the fifth paragraph for
which we have no basis to agree or disagree.
Yours very truly,
\s\ PricewaterhouseCoopers LLP
