U. S. 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
June 1, 1996
Commission File Number 1-8662
PROACTIVE TECHNOLOGIES, INC.
(formerly KEYSTONE MEDICAL CORPORATION)
(Exact name of registrant as specified in its charter)
Delaware 23-2265039
(State of Incorporation) (IRS Employer Identification No.)
7118 Beech Ridge Trail
Tallahassee, Florida 32312
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code:
(904) 668-8500
Item 1 Changes in Control of Registrant
Not applicable
Item 2 Acquisition or Disposition of Assets
Not applicable
Item 3 Bankruptcy or Receivership
Not applicable
Item 4 Changesin Registrant's Certifying Accountant
On June 1, 1996, the Company engaged Coopers & Lybrand
L.L.P., of Atlanta, Georgia as its new certifying accountant.
The engagement was due to the change of the Company's
management as a result of its acquisition of Capital First
Holdings, Inc. (see Form 8-K filed on February 12, 1996), and
the relocation of the Company's headquarters from Tulsa,
Oklahoma to Tallahassee, Florida. The Company did not consult
with Coopers & Lybrand L.L.P. regarding the application of
accounting principles to a specific completed or contemplated
transaction or the type of audit opinion that might be
rendered on the Company's financial statements.
On September 27, 1996, Proactive Technologies, Inc. (the
Company) formally dismissed its certifying accountant, Guest &
Company, P.C., of Tulsa, Oklahoma. The report of Guest &
Company, P.C., accompanying the Company's financial statements
for the fiscal years ended June 30, 1995 and June 30, 1994,
did not contain an adverse opinion, or a disclaimer of
opinion, and was not modified with respect to any uncertainty,
audit scope or accounting principles. Guest & Company, P.C.
has not rendered services to the Company since July 1996 and
has not participated in the preparation of the Company's
audited financial statements for the fiscal year ending June
30, 1996.
The decision of the Company to engage new certifying
accountants was approved by its Board of Directors. The
Company is not aware of any unresolved disagreements with
Guest & Company, P.C., with regard to any matter of accounting
principles or practices, financial statement disclosure, or
auditing scope or procedure.
Item 5 Other Events
Not applicable
Item 6 Resignations of Registrant's Directors
Not applicable
Item 7 Financial Statements,
Pro Forma Financial Information
Exhibit 1-Letter from Guest & Company, P.C.
Item 8 Change in Fiscal Year
Not applicable
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.
PROACTIVE TECHNOLOGIES, INC.
Date: September 26, 1996 By: Mark A. Conner
President
GUEST
&
COMPANY
September 27, 1996
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
RE: Proactive Technologies, Inc.
(formerly Keystone Medical Corporation)
File Ref. No. 1-8662
Dear Sirs:
We were previously the principal accountant for Proactive
Technologies, Inc. and subsidiaries (formerly Keystone Medical
Corporation) and, under the date of March 4, 1996, we reported
on the consolidated financial statements of Proactive
Technologies, Inc. and subsidiaries (formerly Keystone Medical
Corporation) as of and for the years ended June 30, 1995 and
1994. On September 27, 1996 our appointment as principal
accountant was terminated. We have read Proactive
Technologies, Inc.'s (formerly Keystone Medical Corporation)
statements included under Item 4 of its Form 8-K dated June 1,
1996 and we agree with such statements.
Very truly yours,
GUEST & COMPANY, P.C.
Patrick J. Guest
PJG:cz
