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AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JULY 16, 1997
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):
JULY 9, 1997
PC QUOTE, INC.
(Exact Name of Registrant as Specified in Charter)
DELAWARE 0-13093 36-3131704
(State or Other (Commission File (I.R.S. Employer
Jurisdiction of Number) Identification
Incorporation) Number)
300 South Wacker Drive, Suite 300, Chicago, Illinois, 60606
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including
area code: (312) 913-2800
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
(a) Previous independent accountants
(i) On July 9, 1997, McGladrey & Pullen, LLP declined to stand for re-election
as the independent accountants for PC Quote, Inc. (the "Registrant").
(ii) The reports of McGladrey & Pullen, LLP on the financial statements for
the past two fiscal years contained no adverse opinions or disclaimer of
opinion and were not qualified or modified as to uncertainty, audit
scope or accounting principle, except for a going concern phrase that
was included in the report relating to the Registrant's audited
financial statements for the year ended December 31, 1996 as follows:
"The accompanying financial statements have been prepared assuming that
PC Quote, Inc. will continue as a going concern. As more fully
described in Note 14, the Company has experienced significant operating
losses, which adversely affected the Company's current results of
operations and liquidity. These conditions raise substantial doubt
about the Company's ability to continue as a going
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concern. Management's plans in regard to these matters are also
described in Note 14. The financial statements do not include any
adjustments that might result from the outcome of this uncertainty."
(iii)Not Applicable.
(iv) In connection with its audits for the two most recent fiscal years and
through July 9, 1997, there have been no disagreements with McGladrey &
Pullen, 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 McGladrey & Pullen,
LLP would have caused them to make reference thereto in their report on
the financial statements for such years.
(v) The Registrant has requested that McGladrey & Pullen, LLP furnish it with
a letter addressed to the SEC stating whether or not it agrees with the
above statements. A copy of such letter, dated July 16, 1997, is filed
as Exhibit 16.1 to this Form 8-K.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Not applicable.
(b) Not applicable.
(c) The following exhibits are filed with this report:
Exhibit Number Description
16.1 Letter from McGladrey & Pullen, LLP dated July 16,
1997.
SIGNATURES
In accordance with 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.
Dated: July 16, 1997 PC QUOTE, INC.
By: /s/ John E. Juska
Chief Financial Officer
EXHIBIT INDEX
Exhibit Number Description
16.1 Letter form McGladrey & Pullen, LLP dated
July 16, 1997
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[LETTERHEAD]
Securities and Exchange Commission
Washington D.C. 20549
We were previously the independent accountants for PC Quote, Inc., and on
March 7, 1997, we reported on the financial statements of PC Quote, Inc. as
of and for the two years ended December 31, 1996. On July 9, 1997, we
declined to stand for reelection as independent accountants of PC Quote, Inc.
We have read PC Quote, Inc.'s statements included under Item 4 of its Form 8-K
dated July 16, 1997, and we agree with such statements.
/s/McGladrey & Pullen, LLP
MCGLADREY & PULLEN, LLP
July 16, 1997
Schaumburg, Illinois
