ROCKIES FUND INC
8-K/A, 1999-02-23
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                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549

   
                                 FORM 8-K/A-1
    
                                CURRENT REPORT


                      Pursuant to Section 13 or 15(d) of 
                      The Securities Exchange Act of 1934




      Date of Report (Date of earliest event reported):  February 4, 1999




                              ROCKIES FUND, INC.
                          --------------------------
            (Exact name of registrant as specified in its charter)



Nevada                                0-12444                    84-0928022
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(State or other jurisdiction  (Commission file number)        (IRS Employer
incorporation or organization)                          Identification No.)






5373 Union Boulevard, Suite 100, Colorado Springs, Colorado          80918
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(Address of principal executive offices)                         (Zip Code)



      Registrant's telephone number, including area code:  (719) 590-4900
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         (Former name or former address, if changed since last report)
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ITEM 7: EXHIBITS
- ----------------
Exhibit No.

   
18.0 Pursuant to Item 304(a)(3) of Regulation S-B, Section 228.304(a)(3) of
     the Regulations under the Securities Exchange Act of 1934, as amended,
     the Registrant herewith furnishes the letter of Gelfond Hochstadt
     Pangburn & Co.,  former accountants to the Company.
    
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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 hereunto duly authorized.


                                   GLOBAL CASINOS, INC.



   
Date:     02/23/99                 By:  /s/ Stephen G. Calandrella     
          ---------                     --------------------------------
                                        Stephen G. Calandrella, President
    

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                       GELFOND HOCHSTADT PANGBURN & CO.
                          A Professional Corporation
             Certified Public Accountants and Business Consultants
                           1600 Broadway, Suite 2500
                            Denver, CO  80202-4925
                 (303) 831-5000 (tel)    (303) 831-5032 (fax)



February 16, 1999



Securities and Exchange Commission
450 5th Street, N.W.
Washington, D.C.  20549

Re:  Rockies Fund, Inc.
     Commission File No. 0-12444-D

We were previously the principal accountants for The Rockies Fund, Inc.
(Commission File No. 0-12444-D), and under the date of March 30, 1998, we
reported on the financial statements of The Rockies Fund, Inc. (the "Company")
as of December 31, 1997 and 1996, and for each of the years in the two-year
period ended December 31, 1997.

On February 4, 1999, our appointment as principal accountants was terminated. 
We have red the Company's statements included under Item 4 of its Form 8-K
dated February 4, 1999, and we agree with the first third, four and fifth
sentences of the first paragraph of Section (a) of Item 4 and the first
sentence of the third paragraph of Section (a) of Item 4.  We have no basis to
agree or disagree with other statements of the registrant contained therein.

Very truly yours,

GELFOND HOCHSTADT PANGBURN & CO.

cc:  Mr. Stephen Calandrella, President
     The Rockies Fund, Inc.
     5373 North Union Blvd.
     Colorado Springs, CO  80918




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