SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported): December 30, 1996
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PRECISION STANDARD, INC.
(Exact name of registrant as specified in its charter)
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Colorado 0-13829 84-0985295
(State or other (Commission File Number) (I.R.S. Employer
jurisdiction) Identification No.)
One Pemco Plaza
1943 50th Street North
Birmingham, Alabama 35212
(Address of principal executive offices)
Registrant's telephone number, including area code: (205) 591-3009
<PAGE>
ITEM 4 - CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
The following paragraph is added at the end of Item 4 as previously
filed:
On January 3, 1997, the Company provided a draft Form 8-K to Coopers
& Lybrand L.L.P. ("C&L") indicating that C&L had informed the Company that
it would not submit a bid to continue to act as the Company's independent
auditors for the year ending December 31, 1996, nor would C&L stand for
re-election as the Company's certifying accountant in 1997. The draft of
the Form 8-K provided to C&L was identical to the Form 8-K filed with the
Commission on January 6, 1997 except that the final (a copy of which was
provided to C&L on January 6, 1997) included as an additional exhibit a
copy of the letter dated December 20, 1996 from Matthew L. Gold, the
President of the Company, to C&L soliciting a bid for the annual audit for
the year ending December 31, 1996. C&L's response to the Form 8-K was
made in a letter dated January 3, 1997, in which C&L states that it agrees
with the statements made in the Form 8-K. A copy of C&L's January 3, 1997
letter is attached as an exhibit to this Form 8-K/A.
ITEM 7 FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) Financial Statements of Businesses Acquired.
None.
(b) Pro Forma Financial Information.
None.
(c) Exhibits.
99 Letter from Coopers & Lybrand L.L.P. to the Securities and Exchange
Commission dated January 3, 1997 agreeing with the statements
contained in the Company's Form 8-K.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Company has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Denver, State of
Colorado, on January 10, 1997.
PRECISION STANDARD, INC.
By:/s/Matthew L. Gold
Matthew L. Gold
President
EXHIBIT INDEX
EXHIBIT METHOD OF FILING
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99 Letter from Coopers & Lybrand
L.L.P. to the Securities and
Exchange Commission dated
January 3, 1997 agreeing with
the statements contained in
the Company's Form 8-K. Filed herewith electronically
EXHIBIT 99
COOPERS & LYBRAND L.L.P.
a professional services firm
1100 Campanile Building
1155 Peachtree Street
Atlanta, Georgia 30309-3630
telephone (404) 870-1100
facsimile (404) 870-1239
January 3, 1997
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Gentlemen:
We have read the statements made by Precision Standard, Inc., 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 for the month of January,
1997. We agree with the statements concerning our Firm in such Form 8-K.
Very truly yours,
/s/ Coopers & Lybrand L.L.P.
